Common use of Obligation of Good Faith Clause in Contracts

Obligation of Good Faith. Before either party initiates a lawsuit against the other relating to a dispute or claim under this Agreement, the parties agree to work in good faith to resolve between them all disputes and claims arising out of or relating to this Agreement, the parties' performance under it, or its breach. To this end, either party may request, after informal discussions have failed to resolve a dispute or claim, that each party designate an officer or other management employee with authority to bind the party to meet in good faith and attempt to resolve the dispute or claim. During their discussions, each party will honor the other's reasonable requests for information which is not privileged and which relates to the dispute or claim. This Section will not apply should the expiration of the statute of limitations for a cause of action be imminent.

Obligation of Good Faith. Before either party Party initiates a lawsuit against the other relating to a dispute or claim under this the Agreement, the parties Parties agree to work in good faith to resolve between them all disputes and claims arising out of or relating to this the Agreement, the parties' Parties’ performance under it, or its breach. To this end, either party Party may request, after informal discussions have failed to resolve a dispute or claim, that each party Party designate an officer or other management employee with authority to bind the party Party to meet in good faith and attempt to resolve the dispute or claim. During their discussions, each party Party will honor the other's other Party’s reasonable requests for information which is not privileged and which relates to the dispute or claim. This Section 15.2 (Obligation of Good Faith) will not apply should the expiration of the statute of limitations for a cause of action be imminent.