NOTIFICATION AND INITIAL RESOLUTION Sample Clauses
The "Notification and Initial Resolution" clause establishes the process by which parties must inform each other of issues, disputes, or breaches under the agreement and outlines the initial steps to attempt resolution. Typically, this clause requires that concerns be communicated in writing within a specified timeframe and may set out a period for the parties to negotiate or resolve the matter informally before escalating to formal dispute resolution mechanisms. Its core function is to encourage prompt communication and amicable settlement of problems, thereby reducing the likelihood of misunderstandings and unnecessary litigation.
NOTIFICATION AND INITIAL RESOLUTION. Each Dispute shall be notified in the first instance to the following contacts (the "Contract Representatives") of the Parties: or any substitute address or department or officer as any Party may notify in writing to each of the other Parties by not less than five (5) Business Days' notice. The Contract Representatives will attempt in Good Faith to resolve the Dispute in the first instance through negotiations for a period of ten (10) Business Days from the date of notification of the Dispute or such other period as is agreed between the Parties in writing.
NOTIFICATION AND INITIAL RESOLUTION. Each Dispute shall be notified in the first instance to the following contacts (the "Contract Representatives") of the Parties TTT GSP – Shareholders Direct Agreement Schedule 5 –Dispute Resolution Process or any substitute address or department or officer as any Party may notify in writing to each of the other Parties by not less than five (5) Business Days' notice. The Contract Representatives will attempt in Good Faith to resolve the Dispute in the first instance through negotiations for a period of 10 Business Days from the date of notification of the Dispute or such other period as is agreed between the Parties in writing.