Notices of Claim. A Party shall notify the other Party immediately and in writing in the event that a Party learns of a third-party claim or an allegation of a third-party claim arising or resulting from the Parties’ performance or failure to perform pursuant to this Agreement. The Parties shall reasonably cooperate in sharing information concerning potential claims.
Notices of Claim. Notify the Authority Construction Representative after receipt of any notice of any material claim from any member of the Project Team, and allow the Authority to attend any dispute resolution proceedings or settlement discussions related thereto;
Notices of Claim. Provisions governing the contractor's giving of notice of claims for time extension and/or additional compensation should be clear and reasonable as to timing and required content. Whether the standard is to be strict compliance or substantial compliance with those provisions should also be addressed. Further, will the delivery of late notice be an absolute bar to assertion of a claim or only a factor to be considered in assessing the claim? Dispute Resolution. Owners typically favor litigation with its panoply of discovery devices, while contractors prefer the familiar and possibly speedier arbitration realm. A compromise is to have claims up to a threshold arbitrated, while larger claims are litigated. Also to be considered are specification of the forum (state/federal court venues in the locale of the project or particular ADR providers); whether nonbinding mediation must precede formal dispute resolution regardless of the forum; and waiver of a jury trial in litigated cases.
Notices of Claim. After an Indemnitee becomes aware that Litigation has arisen or is likely to arise or is threatened (collectively, a "Claim"), the Indemnitee shall notify Xxxxx Xxxxxxxx, or any successive designee which the Stockholders shall jointly appoint for this purpose, or all the Stockholders, in writing of the Claim and that indemnification will be required pursuant to this Agreement (the "Notice of Claim"). The Notice of Claim shall describe in reasonable detail, to the extent then known by the Indemnitee, the amount of the Claim, its nature, the events giving rise to it, and the identity of the claimant. The Stockholders shall have no obligation to indemnify an Indemnitee or hold it harmless from any Litigation with respect to a Claim for which an Indemnitee has not given a Notice of Claim in accordance with this Section on or prior to the date occurring six months after the Closing Date (the "Cut-Off Date"). All notices described in this Amendment shall be deemed given when dispatched by fax, telegram, overnight delivery service, or postal service, with postage pre-paid as required, properly addressed to their intended recipient. Any Litigation which is brought after the Cut-Off Date, if brought by a Person identified in a Notice of Claim that was delivered on or prior to the Cut-Off Date, shall be deemed to be a continuation of such Claim and subject to indemnification under Section 19.1.
Notices of Claim. The Issuer shall procure that the Trustee is notified by no later than close of business on the sixth business day before each Scheduled Payment Date if the amount available to the Issuer for payment of the interest and (if applicable) principal which the Issuer is scheduled to pay on such Scheduled Payment Date in respect of the Bonds and/or Coupons, as the case may be, is less than the Scheduled Amount. If such amount is insufficient for payment of the Scheduled Amount, the Trustee shall deliver a Notice of Claim to AMBAC with a copy to the Issuer and the Principal Paying Agent requiring AMBAC to pay the shortfall in accordance with the terms of the Bond Policy.
