Methods of Resolution. The methods of resolving a dispute arising pursuant to this Agreement shall be as follows:
Methods of Resolution. A party receiving a request under clause 27.5 must promptly discuss the following and other related subjects with the party making the request:
Methods of Resolution. The methods of resolving a dispute arising pursuant to this Agreement shall be as follows: First National Bank of Central Florida Winter Park, FL
Methods of Resolution. Any dispute arising pursuant to this Agreement (a “Dispute Item”) shall be resolved in accordance with the provisions of this Article 7. If either Party believes that a Dispute Item has arisen, it shall send a written notification of such Dispute Item (a “Notice of Preliminary Dispute”) to the other Party, which Notice of Preliminary Dispute is to contain a description of the Dispute Item, an estimate of the amount in issue and any other information required pursuant to this Agreement (including this Article 7), including information concerning the Dispute Item sufficient to enable the Parties to negotiate in good faith to resolve the Dispute Item.
Methods of Resolution. Except as provided in Sections 3.3(d) and 5.2(e), the parties agree that in the event a dispute concerning or arising out of this Agreement occurs after execution by both parties, that all such disputes shall first be mediated between the parties before any action may be filed. It shall be a non-dischargeable condition precedent that a party wishing to initiate an action concerning or arising out of this Agreement must first give the other party written notice of the dispute and a written demand to proceed to mediation. Upon receipt of such written notice, the receiving party shall have five (5) business days to respond in writing and acknowledge its willingness to submit the dispute to mediation. The parties shall then have an additional five (5) business days to confer in good faith to mutually agree upon the appointment of a neutral mediator. In the event that the parties cannot agree on a neutral mediator, each party shall nominate a mediator of their choice and these two nominees shall confer and agree among themselves on a third individual who shall then be appointed to mediate the dispute. After selection of the neutral mediator (who shall be an attorney licensed in the State where the Assets are located and shall have at least ten (10) years oil and gas experience), the parties shall proceed to mediation within ten (10) business days thereafter at a neutral site. The parties agree that a representative of each, with full settlement authority, shall attend and participate in the mediation. If, after mediating the dispute as set forth herein in good faith, the dispute or claim remains unresolved, then and only then, may the claiming party file an action in a court of law. The parties agree that the costs and expenses of mediation shall be equally borne, but that each party shall bear all costs for its own travel and legal representation, if any. Notwithstanding the terms of this Section 8.1, Sections 3.3(d) and 5.2(e) provide the exclusive methods for resolving Title Defect Disputes and Environmental Disputes.
Methods of Resolution. The parties shall attempt in good faith to resolve by agreement any claim or controversy arising out of or relating to this Agreement or an alleged breach thereof. If the claim or controversy is not resolved by agreement within thirty (30) days from receipt by a party of the other party's written notice of such claim or controversy ("Notice"), the parties shall attempt in good faith to resolve the claim or controversy in accordance with the Commercial Mediation Rules of the American Arbitration Association ("AAA"). If the parties are unable to agree on the appointment of a mediator within forty-five (45) days from the receipt of the Notice, the parties shall request the AAA to appoint a mediator. If the claim or controversy is not resolved by mediation within ninety (90) days from the receipt of the Notice, it shall be settled by arbitration in accordance with the Commercial Arbitration Rules of the AAA, by a sole arbitrator who shall be knowledgeable in oil and gas transactions, chosen by mutual agreement of the parties. Failing such agreement, the selection of such arbitrator shall be made by the AAA at the request of the parties. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction. The place of arbitration shall be Denver, Colorado. The arbitrator shall not be the same person who previously served as the mediator.
