Common use of Informal Proceedings Clause in Contracts

Informal Proceedings. Prior to the initiation of formal dispute resolution procedures, the Parties shall first attempt to resolve their dispute informally. Towards that end, promptly after receipt of the Dispute Notice, the Parties, personally or through party representatives, will negotiate in good faith to resolve the Dispute. The specific format for the discussions shall be left to the discretion of the designated representatives.

Appears in 8 contracts

Samples: Subordinated Note and Warrant Purchase Agreement (First Community Corp /Sc/), Subordinated Note Purchase Agreement (HCSB Financial Corp), Subordinated Note Purchase Agreement (CommunitySouth Financial CORP)

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