Common use of Initiation of Procedure Clause in Contracts

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".

Appears in 2 contracts

Samples: Operating Agreement (Amen Properties Inc), Operating Agreement (Amen Properties Inc)

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Initiation of Procedure. The Member seeking to initiate the Procedure (the "Initiating Member") shall will give written notice to the other Members, describing . The notice must describe in general terms the nature of the Dispute, Dispute and the Initiating Member's ’s claim for relief and identifying relief. Additionally, the notice must identify one or more individuals with authority to settle the Dispute on such the Member's ’s behalf. The Member(s) Members receiving such the notice (the "Responding Member"), ,” whether one or more shall more) will have fifteen five (155) 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 the Member's ’s behalf. The individuals so designated shall will be known as the "Authorized Individuals".” The Responding Member may authorize himself or herself as an Authorized Individual. The Initiating Member and the Responding Member shall will collectively be referred to as the "Disputing Members" or individually "as the “Disputing Member".

Appears in 1 contract

Samples: Operating Agreement

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