Common use of Dispute Concerning Termination Clause in Contracts

Dispute Concerning Termination. If within fifteen (15) days after any notice of termination is given, or, if later, prior to the date of termination (as determined without regard to this section 2.08), the party receiving such notice of termination notifies the other party that a dispute exists concerning the effect of the termination under this Agreement either due to the Corporation's assertion that the termination was for Cause or due to the Corporation's denial of a Triggering Event, the date of termination shall be extended until the date on which the dispute is finally resolved: (A) either by mutual written agreement of the parties or (B) by a final judgment, order or decree of a court (which is not appealable or with respect to which the time for appeal therefrom has expired and no appeal has been lodged) adjudicating the rights and obligations of the Executive and the Corporation under this Agreement with respect to the termination; provided, however, that the date of termination shall be extended by a notice of dispute given by the Executive only if such notice is given in good faith and the Executive pursues the resolution of such dispute with reasonable diligence.