Common use of Initial Negotiation Clause in Contracts

Initial Negotiation. The claim will be submitted to a Senior Officer from each party for resolution by mutual agreement. Any mutual agreement reached by the Senior Officers will be binding upon the parties. 13.1.1 For purposes of this section, the term “Senior Officer” will mean, with respect to the Design Professional, the Design Professional’s president or chief executive officer, and with respect to the Owner, the Associate Vice President of Facilities and Operations. 13.1.2 All applicable periods of limitation will be tolled during the pendency of negotiations under this §13. 1. If the parties mutually agree to defer resolution of any Claim until completion of the Project or another mutually acceptable date, all applicable limitations periods will remain tolled until the agreed date.

Initial Negotiation. The claim will shallwill be submitted to a Senior Officer from each party for resolution by mutual agreement. Any mutual agreement reached by the Senior Officers will shallwill be binding upon the parties. 13.1.1 For purposes of this section, the term “Senior Officer” will shallwill mean, with respect to the Design Professional, the Design Professional’s president or chief executive officer, and with respect to the Owner, the Associate Vice President of Facilities and Operations. 13.1.2 All applicable periods of limitation will shallwill be tolled during the pendency of negotiations under this §13. 1. If the parties mutually agree to defer resolution of any Claim until completion of the Project or another mutually acceptable date, all applicable limitations periods will shallwill remain tolled until the agreed date.