Common use of Party Mediation of Claims Clause in Contracts

Party Mediation of Claims. In the event that a Claim is asserted by an Indemnified Party against an Indemnifying Party, and the Indemnifying Party disputes such Claim, the parties will first attempt in good faith to resolve the dispute promptly by mediation between the parties who are involved in the Claim. Within 10 days after receipt of the Claims Notice, the Indemnifying Party shall submit to the Indemnified Party a written response. The response shall (a) describe the specific facts and circumstances in reasonable detail as to why the Indemnifying Party disputes the Claim and (b) the name and title of the person who will represent the Indemnifying Party, save for the Sellers’ Representative. The executive of Buyer and Sellers’ representative shall each have the authority to settle the Claim. The executive of Buyer and Sellers’ representative shall meet at a mutually acceptable time and place within 20 days of the date of the Indemnified Party’s Claims Notice and thereafter as often as they reasonably deem necessary to exchange relevant information and to attempt to resolve the dispute.

Party Mediation of Claims. In the event that a Claim is asserted by an Indemnified Party Indemnitee against an Indemnifying Party, and the Indemnifying Party disputes such Claim, the parties will first attempt in good faith to resolve the dispute promptly by mediation between the parties who are involved in the Claim. Within 10 days after receipt of the Claims Notice, the Indemnifying Party shall submit to the Indemnified Party Indemnitee a written response. The response shall (a) describe the specific facts and circumstances in reasonable detail as to why the Indemnifying Party disputes the Claim and (b) the name and title of the person who will represent the Indemnifying Party, save for the Sellers’ Representative. The executive of Buyer Loraca and Sellers’ representative Shareholders' Agent shall each have the authority to settle the Claim. The executive of Buyer Loraca and Sellers’ representative Shareholders' Agent shall meet at a mutually acceptable time and place within 20 days of the date of the Indemnified Party’s Indemnitee's Claims Notice and thereafter as often as they reasonably deem necessary to exchange relevant information and to attempt to resolve the dispute.

Party Mediation of Claims. In the event that a Claim is asserted by an Indemnified Party against an Indemnifying Party, and the Indemnifying Party disputes such Claim, the parties will first attempt in good faith to resolve the dispute promptly by mediation between the parties who are involved in the Claim. Within 10 days after receipt of the Claims Notice, the Indemnifying Party shall submit to the Indemnified Party a written response. The response shall (a) describe the specific facts and circumstances in reasonable detail as to why the Indemnifying Party disputes the Claim and (b) the name and title of the person who will represent the Indemnifying Party, save for the Sellers’ Representative. The executive of Buyer and Sellers’ representative shall each have the authority to settle the Claim. The executive of Buyer and Sellers’ representative shall meet at a mutually acceptable time and place within 20 twenty (20) days of the date of the Indemnified Party’s Claims Notice and thereafter as often as they reasonably deem necessary to exchange relevant information and to attempt to resolve the dispute.

Party Mediation of Claims. In the event that a Claim is asserted by an Indemnified Party Indemnitee against an Indemnifying Party, Party and the Indemnifying Party disputes such Claim, the parties will first attempt in good faith to resolve the dispute promptly by mediation between the parties who are involved in the Claim. Within 10 days after receipt of the Claims Notice, the Indemnifying Party shall submit to the Indemnified Party Indemnitee a written response. The response shall to such Claim describing (a) describe the specific facts and circumstances in reasonable detail as to why the Indemnifying Party disputes the Claim and (b) the name and title of the person who will represent the Indemnifying Party, save for the Sellers’ Representative. The executive of Buyer and Sellers’ representative ' Agent shall each have the authority to settle the Claim. The executive of Buyer and Sellers’ representative ' Agent shall meet at a mutually acceptable time and place within 20 days of the date of the Indemnified Party’s Indemnitee's Claims Notice and thereafter as often as they reasonably deem necessary to exchange relevant information and to attempt to resolve the dispute.