Common use of Negotiation and Dispute Resolution Clause in Contracts

Negotiation and Dispute Resolution. (a) Except as otherwise provided in this Agreement or in any Ancillary Agreement, in the event of a controversy, dispute or claim arising out of, in connection with, or in relation to the interpretation, performance, nonperformance, validity, termination or breach of this Agreement or any Ancillary Agreement or otherwise arising out of, or in any way related to this Agreement or any Ancillary Agreement or any of the transactions contemplated hereby or thereby (each, a “Dispute”), the party raising the Dispute shall give written notice of its nature to the other parties to the Dispute, and the Appointed Representatives shall negotiate in good faith for a reasonable period of time, and not less than thirty (30) days, to settle any such Dispute.