Dispute Prevention and Settlement Procedure Sample Clauses

Dispute Prevention and Settlement Procedure a) The Parties Bound agree to use their best endeavours to prevent industrial disputes. However, if a dispute arises then the Parties Bound will attempt to resolve the dispute as quickly as possible and continue to work without interruption or disruption while the dispute is being resolved. No party will be prejudiced as to final settlement of the dispute by continuance of work under the dispute settlement procedure in this Agreement. b) This clause (3.12) applies to a dispute or grievance or claim about the interpretation or application of this Agreement or the National Employment Standards (NES). It does not apply to a dispute or grievance or claim about safety issues unless they relate to the interpretation or application of this Agreement or the NES. c) While the dispute settlement procedure in this clause (3.12) are being followed, the Parties must ensure that industrial action does not occur, the circumstances that existed prior to the dispute or grievance or claim prevail, and work continues as normal without detriment to any of the Parties. The Parties acknowledge the value of open communication and mutual respect when resolving a dispute or grievance or claim and will apply both during dispute resolution. d) For the purposes of this clause 3.12: (i) Any reference to Employee(s) also includes any person or delegate the Employee(s) has chosen to support or represent the Employee(s) throughout this dispute prevention and settlement process; and (ii) Any reference to the Company also includes any person or organisation the Company has chosen to support or represent the Company throughout this dispute prevention and settlement process. e) The Parties are committed to the promotion and development of a harmonious workplace based upon consultation, collaboration and co-operation and it is agreed that the following dispute prevention and settlement procedure will apply on the Project to assist the Parties to efficiently resolve issues so that no industrial lost time occurs: (i) As soon as practicable, the Employee(s) with a concern or dispute will first meet and confer with their immediate supervisor. Employee(s) may appoint another person or delegate to support or represent them at any stage of discussions and/or the dispute procedure to resolve the concern or dispute; (ii) If the matter is not resolved at such a meeting, the Employee(s) will arrange further discussions involving the Project Manager as appropriate; (iii) If the matter remains unresolved,...
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Dispute Prevention and Settlement Procedure. The following procedures shall be observed in the resolution of grievances and in the settling of disputes: 26.1 In the event of a grievance or dispute arising, the matter shall first be discussed between the employee(s) concerned, with a Union representative present if requested, and the immediate supervisor. 26.2 Should the matter remain unresolved it shall be referred to the management representative designated as being responsible for such issues. The relevant Union delegate and/or official shall attend if requested. Similarly, the Council may request a representative of the Local Government Association of Tasmania to attend. 26.3 Emphasis shall be placed upon a negotiated settlement. However, if the matter remains unresolved, either the employee or where requested by the employee, the employee’s nominated representative, or the employer, may refer the matter to the Australian Industrial Relations Commission to make a decision on the dispute. Subject to any appeal rights, any decision of the Commission shall be binding upon both parties. 26.4 Without prejudice to either party, and except where a bona fide safety issue is involved, work shall continue in accordance with the Award or Agreement existing between the parties while matters in dispute between them are being negotiated in good faith. Where a bona fide safety issue is involved, the employer and the appropriate safety authority must be notified concurrently or at least a bona fide attempt made to notify that Authority. All parties shall apply themselves diligently to the above process to ensure that any matter in dispute is dealt with expeditiously.
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Dispute Prevention and Settlement Procedure. Any dispute or claim (whether any such dispute or claim arises out of the operation of this Agreement or not) as to the wages or conditions of employment of any employee and/or as to any other industrial matter pertaining to the relations of the Employer with employees and the National Employment Standards shall be settled in the undermentioned manner: The matter shall first be discussed between the aggrieved employee and their supervisor. If settlement is not reached the matter shall be discussed between a representative of the employee and the site manager or other appropriate officer of the Employer. If Agreement is not reached, the matter shall then be discussed between a representative of the head of the office of the company and the appropriate employee representative or official of the union. The provisions of this clause need not apply unless either the company or the union requests otherwise. If the matter is still not settled it shall be submitted to a member of Fair Work Commission for conciliation and if necessary arbitration. The decision of Fair Work Commission shall, subject to any rights appeal, be final and will be accepted by the parties. Until the matter is determined, the status quo will prevail.
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Dispute Prevention and Settlement Procedure. In relation to any matter that may be in dispute between the parties to this Agreement, the parties: 11.1. will attempt to resolve the matter at the workplace level, including, but not limited to: 11.2. the employee and his or her manager meeting and conferring on the matter; and 11.3. if the matter is not resolved at such a meeting, the parties arranging further discussions involving more senior levels of management (as appropriate); 11.4. acknowledge the right of either party to appoint, in writing, another person (including a Union representative) to act on behalf of the party in relation to resolving the matter at the workplace level; 11.5. agree to allow either party to refer the matter to the Australian Industrial Relations Commission ( AIRC ) for conciliation only if the matter cannot be resolved at the workplace level; 11.6. agree that if either party refers the matter to conciliation, both parties will participate in the conciliation process in good faith; 11.7. acknowledge the right of either party to appoint in writing, another person (including a Union representative) to act on behalf of the party in relation to the conciliation process; 11.8. agree that during the time when the parties attempt to resolve the matter in accordance with this disputes procedure: 11.8.1 Without prejudice to either party, and except where a bona fide safety issue is involved in the event of an issue likely to give rise to a stoppage of work, the pre dispute condition shall continue while matters in dispute are being negotiated in good faith; 11.8.2 subject to relevant provisions of any state or territory occupational health and safety law, , the employee must not unreasonably fail to comply with a direction by his or her Employer to perform other available work, whether at the same workplace or another workplace, that is safe and appropriate for the employee to perform; 11.8.3 the parties must cooperate to ensure that the dispute resolution procedures are carried out as quickly as is reasonably possible; and 11.8.4 agree not to commence any legal proceedings or action in other jurisdictions. 11.9. this clause does not apply to a dispute relating to the termination.
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Dispute Prevention and Settlement Procedure a) A major objective of this Agreement is to eliminate lost time and/or production arising out of disputes or grievances. Any dispute in relation to a work related, industrial matter or any matters arising out of the operation of the Agreement, incidental to the operation of the Agreement, the NES, including subsections 65(5) or 76(4) of the FW Act shall be dealt with according to the following procedure: i. The circumstances that existed prior to the dispute or grievance or claim prevail, and work must continue as normal without detriment to any of the Parties. ii. All Employees have the right to appoint an employee representative (which may be a Party to this Agreement, the Employee Representative elected under clause 8.3 of this Agreement or anyone else of the Employee's choice) in relation to a dispute. It is the express priority of all Parties to attempt to settle a dispute at the workplace level at first Instance. iii. The Employer may appoint a representative of its choice in relation to a dispute. iv. In the event of any work-related grievance arising between the Employer and an Employee or Employees, the matter shall be dealt with in the following manner: A. The matter shall be first submitted by the Employee/s or their representative, to the site supervisor or the other appropriate site representative of the Employer and if not settled, to a more senior representative of the Employer. B. Alternatively, the Employer may submit an issue to the Employee/s who may seek the assistance and involvement of a representative. C. If still not resolved, there may be discussions between the employee/sand their representative and senior representative of the Employer. D. Should the matter remain unresolved, and all of the steps of this procedure have been exhausted the matter may be referred by either Party to this dispute to the FWC. The FWC may exercise conciliation in the first instance and if the conciliation is unsuccessful the FWC may exercise arbitration powers. b) This procedure shall be followed in good faith without unreasonable delay.
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Dispute Prevention and Settlement Procedure. Resolution of disputes and grievances: 44.1 Unless otherwise provided for in this Agreement, a dispute or grievance about a matter arising under this Agreement must be dealt with in accordance with this clause. 44.2 This clause does not apply to any dispute on a matter or matters arising in the course of bargaining in relation to a proposed workplace agreement. 44.3 A party may chose to be represented at any stage by a representative, including a union representative or employer’s organisation. 44.4 The parties to the dispute or grievance must genuinely attempt to resolve the dispute or grievance through the processes set out in this clause and must cooperate to ensure that these processes are carried out expeditiously. 44.5 Whilst a dispute or grievance is being dealt with in accordance with this clause, work must continue in accordance with usual practice, provided that this does not apply to an employee who has a reasonable concern about an imminent risk to his or her health or safety, has advised the employer of this concern and has not unreasonably failed to comply with a direction by the employer to perform other available work that is safe and appropriate for the employee to perform. 44.6 No party or employee will be prejudiced as to the final settlement of the dispute or grievance by the continuance of work in accordance with this clause. 44.7 The dispute or grievance must first be discussed by the aggrieved employee(s) with the employee(s) immediate supervisor. 44.8 If the matter is not settled, the employee(s) can require that the matter be discussed with another representative of the employer appointed for the purposes of this procedure. 44.9 If the matter is not settled, a party to the agreement may apply to the Australian Industrial Relations Commission (AIRC) to have the dispute or grievance dealt with by conciliation.
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Dispute Prevention and Settlement Procedure 
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Related to Dispute Prevention and Settlement Procedure

  • DISPUTE SETTLEMENT PROCEDURE A major objective of this Agreement is to eliminate lost time and/or production arising out of disputes or grievances. Disputes over any work related or industrial matter should be dealt with as close to its source as possible. Disputes over matters arising from this agreement shall be dealt with according to the following procedure. An employee or the union delegate or site xxxxxxx or Enterprise should initially submit any work related grievance and/or industrial matter to the site foreperson, supervisor or other appropriate site representative of the company or appropriate site union representative as relevant. If the matter remains unresolved the union delegate or site xxxxxxx may then submit the matter to the appropriate senior management person. Where relevant the Enterprise may submit the matter to a union official. If still not resolved the delegate or site xxxxxxx shall refer the matter to an appropriate official of the union, who shall discuss the matter with the nominated representative of the Enterprise. If still not resolved there may be discussions between the state secretary and senior management representative. Whilst the above procedures are being followed work should continue as normal. This procedure is to be followed in good faith and without unreasonable delay by any party. Should the matter remain unresolved and where the issue is within the jurisdiction of the Victorian Building Industry Disputes Board (“the Board”), either of the parties shall refer the dispute at first instance to the Board (which shall deal with the dispute in accordance with VBIA procedures and, where required, determine issues of jurisdiction). The Board’s decision will be accepted by all parties subject to the right of either party to refer the dispute to the Australian Industrial Relations Commission for conciliation and if required arbitration. The Commission’s decision will be accepted by all parties subject to legal rights of appeal. This dispute settlement procedure does not apply to health and safety issues or issues of industry, state or national significance.

  • Dispute Settlement Procedures Principles a) This procedure is designed to promote the resolution of issues that arise at the lowest possible level and to provide a step-by-step process which will be accessed if the parties are genuinely unable to resolve the issue. b) At each step in the procedure, reasonable time is to be allowed for the parties to resolve the matter. The parties agree not to proceed to each next step in the procedure until the previous step has been completed. Following these procedures will ensure the dispute is resolved in the most efficient manner. c) In the event of a dispute in relation to a matter arising under this agreement, in the first instance the parties will attempt to resolve the matter at the workplace by discussions between the employee or employees concerned and the relevant supervisor and, if such discussions do not resolve the dispute, by discussions between the employee or employees concerned and more senior levels of management as appropriate. If the matter is not resolved at this level, the grievance shall be referred to the designated management representative. d) Should the matter remain unresolved at this level, the Employee, at his/her discretion, may nominate a representative to meet with the Supervisor, the designated manager,and the Consultative Committee to resolve the issue. e) A party to the dispute may appoint another person, organisation or association to accompany or represent them in relation to the dispute. f) If a dispute in relation to a matter arising under the agreement is unable to be resolved at the workplace, and all agreed steps for resolving it have been taken, the dispute may be referred to the Australian Industrial Relations Commission (the Commission) for resolution by mediation and/or conciliation. Any solution proposed by the Commission or another third party must be consistent with the Construction Code and Guidelines and relevant legislation. g) It is a term of this agreement that while the dispute resolution procedure is being conducted work shall continue normally. The circumstances that applied prior to the dispute arising shall apply until final resolution of the matter. h) Any dispute referred to the Commission under this clause should be dealt with by a member agreed by the parties at the time or, in default of agreement, a member nominated by either the head of the relevant panel or the President. i) This dispute resolution procedure does not apply to Occupational Health and Safety matters. It is expected that the Occupational Health and Safety Representatives will follow appropriate procedures in the resolution of any Health and Safety matters.

  • DISPUTES SETTLEMENT PROCEDURE 9.1 A major objective of this Agreement is to eliminate lost time and/or production arising out of disputes or grievances. Disputes over any work related or industrial matter (including a dispute about whether a workplace right has been breached) or any matters arising out of the operation of the Agreement or incidental to the operation of the Agreement should be dealt with as close to its source as possible. Disputes over matters arising from this Agreement (or any other dispute related to the employment relationship or the NES, including subsections 65(5) or 76(4) of the Fair Work Act) shall be dealt with according to the following procedure. 9.2 The pre-dispute status quo shall prevail while the matter is being dealt with in accordance with this procedure. 9.3 All Employees have the right to appoint a representative in relation to a dispute. It is the express priority of all Parties to attempt to settle a dispute at the workplace level at first instance. 9.4 In the event of any work-related grievance arising between the Employer and an Employee or Employees, the matter shall be dealt with in the following manner: (a) The matter shall be first submitted by the Employee/s or his/her job delegate/ employee representative or other representative, to the site foreperson/supervisor or the other appropriate site representative of the Employer and if not settled, to a more senior representative of the Employer. (b) Alternatively, the Employer may submit an issue to the Employee/s who may seek the assistance and involvement of the job delegate/employee representative or other representative. (c) If still not resolved, there may be discussions between the relevant Union official (if requested by the employee/s), or another representative of the employee, and senior representative of the Employer. (d) Should the matter remain unresolved, either of the parties or their representative shall refer the dispute at first instance to FWC for review. FWC may exercise conciliation and/or arbitration powers in such review. 9.5 This procedure shall be followed in good faith without unreasonable delay. 9.6 If any party fails or refuses to follow any step of this procedure the non-breaching party will not be obligated to continue through the remaining steps of the procedure and may immediately seek relief by application to FWC. 9.7 Any resolution of a dispute under this clause by the FWC will not be inconsistent with legislative obligations or any other applicable Codes or Regulations.

  • Settlement Procedure 4.1. The Client has the right to withdraw his/her own funds which are not encumbered with deposit obligations or Commission payments in case of Copy Trading. 4.2. Money transfers are made within 1-3 banking days. 4.3. Money transfer can be deferred by the Company for the period of 14 working days in exceptional cases requiring verification of compliance of trading and non-trading operations conducted by the Client with the terms and conditions of this Agreement. If such situation occurs, Company shall immediately notify Client by e-mail specified in the Client Profile. The Client has the right to request the status of the verification process only by contacting Trading operations department by e-mail at: xxxxxxx@xxxxxxxxxxx.xxx. 4.4. The Client’s payment instruction received, the amount to withdraw is deducted from the 4.5. In case of return of funds, the Client pays transfer fees. 4.6. The Client gives all instructions related to deposits and withdrawals of funds from the account through the Client's Profile in the order determined by the algorithm of Client's Profile operation. 4.7. The Company corrects balances in the accounts with a fixed negative value in the “Balance” column in the trading terminal on the 1st of each month. Correction (setting to zero) of trading accounts shall be applied solely to those accounts in which no trades are conducted at the moment of correction, i.e. no active open trading positions are present (pending orders will not be considered). Bonus funds are deducted from the “Credit” column with the comment “bonus_out (negative balance)”. At the same time, funds in the amount equal to the negative balance value are put into the account with the comment “Zero Balance Correction”. 4.8. The Client can withdraw funds from his/her account using any payment system which is accessible in the Client’s Profile. 4.8.1. If funds withdrawal is made via electronic payment systems, the withdrawal is possible only to the same system and with the same payment details within the system that were used to top up the trading account, and in same currency in which the deposit was made. If the account was topped up by different ways, in various currencies and using different payment details, withdrawals should be made proportionally. 4.8.2. If the Client’s payment details within the payment system are changed for some reason, the Client shall notify the Company by sending an email to the financial department with a photo where the Client is holding an ID close to his/her face attached. Otherwise, the Company reserves the right to deny funds withdrawal by use of new payment details. 4.9. Deposit of Client’s funds can be made by any methods available on the Company’s site. 4.9.1. The Client acknowledges that in case of software failure there can be delays in depositing funds in his/her trading account. 4.9.2. The Company undertakes to deposit funds in the Client’s trading account in case of any software failure resulting in delay in automated deposit provided that the Company was informed about the delay by the Client. 4.10. The Company doesn’t charge any deposit or withdrawal fees from Clients’ trading accounts. 4.11. The Client understands and accepts the fact that his/her money withdrawal request may be declined, and money will be retransferred to the Client’s account if the Client did not provide necessary identification information (copy of ID document, bank card or any other documents required by the Company based on the AML policy) upon the Company’s request via the Client’s Profile within 7 (seven) business days following the request. 4.12. The Client agrees that the Company may accept and make payments through payment agents. In particular, Skrill and Neteller payments are processed through LiteFinance Consulting Limited registered at Xxxxxx 00 Xxxxxxxx Xxxxx, 00 Xxxx Xxxxxx, XX 11 1 AA, Gibraltar, and acting as a payment agent of LiteFinance Global LLC.

  • Amendment Procedure (a) Except as provided in subsection (b) of this Section 11.3, this Declaration may be amended, after a majority of the Trustees have approved a resolution therefor, by the affirmative vote required by Section 10.4 of this Declaration. The Trustees also may amend this Declaration without any vote of Shareholders of any class or series to divide the Shares of the Trust into one or more classes or additional classes, or one or more series of any such class or classes, to determine the rights, powers, preferences, limitations and restrictions of any class or series of Shares, to change the name of the Trust or any class or series of Shares, to make any change that does not adversely affect the relative rights or preferences of any Shareholder, as they may deem necessary, or to conform this Declaration to the requirements of the 1940 Act or any other applicable federal laws or regulations including pursuant to Section 6.2 or the requirements of the regulated investment company provisions of the Code, but the Trustees shall not be liable for failing to do so. (b) No amendment may be made to Section 2.1, Section 2.2, Section 2.3, Section 3.9, Section 5.1, Section 5.2, Section 11.2(a), this Section 11.3, Section 11.4, Section 11.6 or Section 11.7 of this Declaration and no amendment may be made to this Declaration which would change any rights with respect to any Shares of the Trust by reducing the amount payable thereon upon liquidation of the Trust or by diminishing or eliminating any voting rights pertaining thereto (except that this provision shall not limit the ability of the Trustees to authorize, and to cause the Trust to issue, other securities pursuant to Section 6.2), except after a majority of the Trustees have approved a resolution therefor, by the affirmative vote of the holders of not less than seventy-five percent (75%) of the Shares of each affected class or series outstanding, voting as separate classes or series, unless such amendment has been approved by eighty percent (80%) of the Trustees, in which case approval by a Majority Shareholder Vote shall be required. Nothing contained in this Declaration shall permit the amendment of this Declaration to impair the exemption from personal liability of the Shareholders, Trustees, officers, employees and agents of the Trust or to permit assessments upon Shareholders. (c) An amendment duly adopted by the requisite vote of the Board of Trustees and, if required, the Shareholders as aforesaid, shall become effective at the time of such adoption or at such other time as may be designated by the Board of Trustees or Shareholders, as the case may be. A certification in recordable form signed by a majority of the Trustees setting forth an amendment and reciting that it was duly adopted by the Trustees and, if required, the Shareholders as aforesaid, or a copy of the Declaration, as amended, in recordable form, and executed by a majority of the Trustees, shall be conclusive evidence of such amendment when lodged among the records of the Trust or at such other time designated by the Board. Notwithstanding any other provision hereof, until such time as a Registration Statement under the Securities Act of 1933, as amended, covering the first public offering of Shares of the Trust shall have become effective, this Declaration may be terminated or amended in any respect by the affirmative vote of a majority of the Trustees or by an instrument signed by a majority of the Trustees.

  • Dispute Settlement 1. A Party may not initiate proceedings under the general dispute settlement provisions of this Agreement regarding a refusal to grant temporary entry under this Chapter unless: (a) the matter involves a pattern of practice; and (b) the business person has exhausted the available administrative remedies regarding the particular matter. 2. The remedies referred to in subparagraph 1(b) shall be deemed to be exhausted if a final determination in the matter has not been issued by the competent authority within one year of the institution of an administrative proceeding, and the failure to issue a determination is not attributable to delay caused by the business person.

  • Settlement Procedures On each Payment Date, the Servicer on behalf of the Borrower shall pay for receipt by the applicable Lender no later than 11:00 a.m. (New York City time) to the following Persons, from (i) the Collection Account, to the extent of available funds, (ii) Servicer Advances, and (iii) amounts received in respect of any Hedge Agreement during such Settlement Period (the sum of such amounts described in clauses (i), (ii) and (iii), minus any amounts required to be deposited to the Revolver Loan Funding Accounts in accordance with Section 2.14 below being the “Available Collections”) the following amounts in the following order of priority: (a) During the Revolving Period, and in each case unless otherwise specified below, applying Interest Collections first, and then Principal Collections: (i) FIRST, to the Borrower, the aggregate amount of fees (including up-front, continuing or success fees) received in respect of the Transferred Loans; (ii) SECOND, to each Hedge Counterparty, any amounts owing that Hedge Counterparty under its respective Hedging Agreement in respect of any Hedge Transaction(s), for the payment thereof, but excluding, to the extent the Hedge Counterparty is not the same Person as the Administrative Agent, any Swap Breakage and Indemnity Amounts; (iii) THIRD, to the Servicer, in an amount equal to any Unreimbursed Servicer Advances, for the payment thereof; (iv) FOURTH, to the extent not paid by the Servicer, to the Backup Servicer and any Successor Servicer, as applicable, in an amount equal to any accrued and unpaid Backup Servicing Fee and, if any, accrued and unpaid Transition Costs, Backup Servicer Expenses and Market Servicing Fee Differential, each for the payment thereof; (v) FIFTH, to the extent not paid by the Servicer, to the Collateral Custodian in an amount equal to any accrued and unpaid Collateral Custodian Fee and Collateral Custodian Expenses, if any, for the payment thereof; (vi) SIXTH, to the Servicer, in an amount equal to (A) if the Servicer is Gladstone Management Corporation or any of its Affiliates, its accrued and unpaid Servicing Fees to the end of the preceding Settlement Period, up to the Servicing Fee Limit Amount for such Settlement Period, for the payment thereof and (B) otherwise, its accrued and unpaid Servicing Fees to the end of the preceding Settlement Period for the payment thereof; (vii) SEVENTH, to the Administrative Agent for payment to each Managing Agent, on behalf of the related Lenders, in an amount equal to any accrued and unpaid Interest and Unused Fee for such Payment Date; (viii) EIGHTH, first, to the extent of available Principal Collections, and second, to the extent of available Interest Collections, to the Administrative Agent for payment to each Managing Agent, on behalf of the related Lenders, an amount equal to the excess, if any, of Advances Outstanding over the lesser of (i) the Borrowing Base or (ii) the Facility Amount, together with the amount of Breakage Costs incurred by the applicable Lenders in connection with any such payment (as such Breakage Costs are notified to the Borrower by the applicable Lender(s)), pro rata; provided, however, that to the extent that (i) the Termination Date has not occurred and (ii) Advances Outstanding exceed the Facility Amount due to one or more Lenders becoming Non-Renewing Lenders, to each Managing Agent on behalf of such Non-Renewing Lenders only, pro rata in accordance with their Advances Outstanding; (ix) NINTH, to each Hedge Counterparty, any Swap Breakage and Indemnity Amounts owing that Hedge Counterparty; (x) TENTH, to the Administrative Agent for payment to each Managing Agent, on behalf of the related Lenders, in the amount of unpaid Breakage Costs (other than Breakage Costs covered in clause (vii) above) with respect to any prepayments made on such Payment Date Increased Costs, and/or Taxes (if any); (xi) ELEVENTH, to the Swingline Lender, for the portion of the Obligations constituting unpaid principal of the Swing Advances;

  • Dispute Procedure (1) Unless otherwise provided in the Council's Constitution or in this Collective Agreement, any dispute within the registered scope of the Council shall be resolved as set out below: (a) The General Secretary of the Council shall, after consultation with the Secretary of any relevant Regional Chamber, decide whether any dispute referred to the Council must be dealt with by the Council or the Regional Chamber. (b) The Council shall, from time to time, adopt, by resolution, guidelines for the General Secretary of the Council to follow in the allocation of such disputes. (c) When any dispute is allocated to a Regional Chamber in terms of this clause, then such Regional Chamber shall have the same rights, powers and obligations as the Council.

  • Claim Procedure Any Person entitled to indemnification hereunder shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall impair any Person’s right to indemnification hereunder only to the extent such failure has prejudiced the indemnifying party) and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld, conditioned or delayed). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim. In such instance, the conflicted indemnified parties shall have a right to retain one separate counsel, chosen by the Holders representing a majority of the Registrable Securities included in the registration if such Holders are indemnified parties, at the expense of the indemnifying party.

  • Payment Procedure (a) The Lead Securitization Note Holder (or the Master Servicer acting on its behalf), in accordance with the priorities set forth in Section 3 and subject to the terms of the Lead Securitization Servicing Agreement, shall deposit or cause to be deposited all payments allocable to the Notes to the Collection Account and/or related Companion Distribution Account (each as defined in the Lead Securitization Servicing Agreement) pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder (or the Master Servicer acting on its behalf) shall deposit such payments to the applicable account within one Business Day of receipt of properly identified and available funds by the Lead Securitization Note Holder (or the Master Servicer acting on its behalf) from or on behalf of the Mortgage Loan Borrower (provided, that to the extent that any payment is received after 2:00 p.m. (Eastern Time) on any given Business Day, the Master Servicer is required to use commercially reasonable efforts to deposit such payments into the applicable account within one (1) Business Day of receipt of such properly identified and available funds but, in any event, the Master Servicer is required to deposit such payments into the applicable account within two (2) Business Days of receipt of such properly identified and available funds). (b) If the Lead Securitization Note Holder determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of any Note must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Mortgage Loan Borrower or paid to any Note Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, the Lead Securitization Note Holder shall not be required to distribute any portion thereof to any Non-Lead Securitization Note Holder and each Non-Lead Securitization Note Holder shall promptly on demand by the Lead Securitization Note Holder repay to the Lead Securitization Note Holder any portion thereof that the Lead Securitization Note Holder shall have theretofore distributed to such Non-Lead Securitization Note Holder, together with interest thereon at such rate, if any, as the Lead Securitization Note Holder shall have been required to pay to any Mortgage Loan Borrower, Master Servicer, Special Servicer or such other Person with respect thereto. (c) If, for any reason, the Lead Securitization Note Holder makes any payment to any Non-Lead Securitization Note Holder before the Lead Securitization Note Holder has received the corresponding payment (it being understood that the Lead Securitization Note Holder is under no obligation to do so), and the Lead Securitization Note Holder does not receive the corresponding payment within five (5) Business Days of its payment to such Non-Lead Securitization Note Holder, such Non-Lead Securitization Note Holder shall, at the Lead Securitization Note Holder’s request, promptly return that payment to the Lead Securitization Note Holder. (d) Each Note Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it shall promptly remit such excess to the applicable Note Holder, subject to this Agreement and the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder shall have the right to offset any amounts due hereunder from a Non-Lead Securitization Note Holder with respect to the Mortgage Loan against any future payments due to such Non-Lead Securitization Note Holder under the Mortgage Loan. Such Non-Lead Securitization Note Holder’s obligations under this Section 8 constitute absolute, unconditional and continuing obligations.

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