Initiation of Procedure. The Partner seeking to initiate the Procedure (the "Initiating Partner") shall give written notice to the other Partners, describing in general terms the nature of the Dispute, the Initiating Partner's claim for relief an identifying one or more individuals with authority to negotiate the Dispute on such Partner's behalf. The Partner(s) receiving such notice (the "Responding Partner," whether one or more) shall have five (5) business days within which to designate by written notice to the Initiating Partner, one or more individuals with authority to negotiate the Dispute on such Partner's behalf. The individuals so designated shall be known as the "Authorized Individuals." The Initiating Partner and the Responding Partner shall collectively be referred to as the "Disputing Partners" or individually "Disputing Partner."
Initiation of Procedure. The party seeking to initiate the Procedure (the "Initiating Party") shall give written notice to the other party setting forth a general description of the nature of the Dispute, the Initiating Party's claim for relief, and the identity of one or more individuals with authority to settle the Dispute on behalf of the Initiating Party. The party receiving such notice (the "Responding Party") shall have five business days within which to designate by written notice to the Initiating Party one or more individuals with authority to settle the Dispute on behalf of the Responding Party. The individuals so designated by the Initiating Party and the Responding Party shall be known as the "Authorized Individuals."
Initiation of Procedure. The Member seeking to initiate the Procedure (the "Initiating Member") shall give written notice to the other Members, describing in general terms the nature of the Dispute, the Initiating Member's claim for relief and identifying one or more individuals with authority to settle the Dispute on such Member's behalf. The Member(s) receiving such notice (the "Responding Member"), whether one or more shall have fifteen (15) business days within which to designate by written notice to the Initiating Member, one or more individuals with authority to settle the Dispute on such Member's behalf. The individuals so designated shall be known as the "Authorized Individuals". The Initiating Member and the Responding Member shall collectively be referred to as the "Disputing Members" or individually "Disputing Member".
Initiation of Procedure. A Party who desires to initiate the Procedure (the "Initiating Party") shall give written notice to the other Parties, describing, in general terms, the nature of the Dispute and the Initiating Party's proposal to resolve the Dispute. The Parties receiving such notice (the "Responding Party," whether one or more) shall have five (5) business days to respond (the "Response") to the Initiating Party's proposal. If, within ten (10) business days of the Response, the Parties have been unable to resolve the dispute, the Parties shall resolve the dispute pursuant to the following provisions.
Initiation of Procedure. The initiating party shall give written notice to the other party, describing the nature of the Dispute and its claim for relief and identifying one or more individuals with authority to resolve the Dispute on such party's behalf. The other party shall have five (5) days from receipt of such notice within which to designate in writing one or more individuals with authority to resolve the Dispute on such party's behalf.
Initiation of Procedure. The Partner(s) seeking to initiate the Procedure (the “Initiating Party”) shall give written notice to the other Partners setting forth a general description of the nature of the Dispute, the Initiating Party’s claim for relief, and the identity of one or more individuals with authority to settle the Dispute on behalf of the Initiating Party. The Partner(s) receiving such notice (the “Responding Party”) shall have five business days within which to designate by written notice to the Initiating Party one or more individuals with authority to settle the Dispute on behalf of the Responding Party. The individuals so designated by the Initiating Party and the Responding Party shall be known as the “Authorized Individuals.”
Initiation of Procedure. The initiating party shall give written notice to the other parties describing the nature of the Dispute, its claim for relief and identifying one or more individuals with authority to resolve the Dispute on such party's behalf. The other parties shall each have five business days from receipt of such notice within which to designate in writing one or more individuals with authority to resolve the Dispute on each other party's behalf.
Initiation of Procedure. (a) At any time on or after the ------------ ------------------------ third anniversary of the Effective Date, any Partner (the "Buy/Sell Initiating Partner") may, by written notice to the other Partner (the "Recipient Partner"), initiate a buy-sell offer by designating its determination of the fair market value for each Partner's Partnership Interest (the "Designated Price") and other terms at which the Buy/Sell Initiating Partner is willing either to buy the Partnership Interest of the Recipient Partner in the Company or to sell its own Partnership Interest to the Recipient Partner ("Offer"). If the Recipient Partner disagrees with such fair market value, and the allocable share of such fair market value (based upon the Recipient Partner's Percentage Interest) is less than such Recipient Partner's Unreturned Capital Contributions, then the "fair market value" shall be determined in accordance with the procedure specified in Section 11.1(b)) below. For purposes of this Section 11.1, the Partnership Interest of the Buy/Sell Initiating Partner and the Recipient Partner shall include any Permitted Transferee(s) of the Buy/Sell Initiating Partner or the Recipient Partner, as the case may be. The Offer shall be accompanied by evidence of a cash deposit into the escrow account of counsel to the Buy/Sell Initiating Partner in an amount equal to ten percent (10%) of the price to be paid to the Recipient Partner and a comprehensive purchase agreement (the "Purchase Agreement") containing all terms, conditions, covenants, representations, warranties and other agreements, except such terms shall provide for the entire purchase price to be paid in immediately available funds at closing. The Buy/Sell Initiating Partner shall purchase the Partnership Interest of the Recipient Partner and its Permitted Transferees subject to all Company liabilities which shall specifically be assumed by the Buy/Sell Initiating Partner. The Buy/Sell Initiating Partner shall indemnify the Recipient Partner and its Permitted Transferees as to said liabilities. In addition, as a condition to any Partner becoming a Buy/Sell Initiating Partner, such Partner and the Company shall arrange for the specific release of the Recipient Partner and/or any Affiliates of the Recipient Partner from the primary liability (as opposed to continuing liabilities, such as environmental liabilities, which cannot be released) to any Institutional Lenders having outstanding loans to the Company (including the can...
Initiation of Procedure. A party seeking to initiate the ----------------------- Procedure (the "Initiating Party") shall give written notice to the other party, describing briefly the nature of the Dispute and its claim and identifying an individual with authority to settle the Dispute on its behalf. The party receiving such notice (the "Responding Party") shall have five (5) business days within which to designate, in a written notice given to the Initiating Party, an individual with authority to settle the Dispute on its behalf. The individuals so designated shall be known as the "Authorized Individuals." Absent agreement by the parties, neither of the Authorized Individuals shall have had direct substantive involvement in the matters involved in the Dispute.
Initiation of Procedure. 1 The established negotiations shall be determined by mutual agreement of the parties; however, both parties shall endeavor to resolve all negotiated items by no later than May 15, unless extended by mutual agreement of both parties.
