Common use of Reasonable Period of Time Clause in Contracts

Reasonable Period of Time. 1. The reasonable period of time shall be mutually determined by the Parties to the dispute, or where the Parties to the dispute fail to agree on the reasonable period of time within 45 days of the issuance of the Arbitral Tribunal’s report, either Party may, to the extent possible, refer the matter to the original Arbitral Tribunal, which shall determine the reasonable period of time. 2. The Arbitral Tribunal shall provide its report to the Parties to the dispute within 60 days after the date of the referral of the matter to it. When the Arbitral Tribunal considers that it cannot provide its report within this timeframe, it shall inform the Parties to the dispute in writing of the reasons for the delay together with an estimate of the period within which it will present its report. Any delay shall not exceed a further period of 30 days unless the Parties to the dispute otherwise agree. 3. The reasonable period of time normally shall not exceed 15 months from the date of issuance of the Arbitral Tribunal’s report.

Reasonable Period of Time. 1. The reasonable period of time referred to in Article 21.12 shall be mutually determined by the Parties to the dispute, or where Parties. Where the Parties to the dispute fail to agree on the reasonable period of time within 45 days of after the issuance of the Arbitral Tribunalarbitral tribunal’s final report, either Party may, to the extent possible, refer the matter to the original Arbitral Tribunalarbitral tribunal, which shall determine the reasonable period of time. 2. The Arbitral Tribunal arbitral tribunal shall provide its report determination to the Parties to the dispute within 60 days after the date of the referral of the matter to it. When the Arbitral Tribunal arbitral tribunal considers that it cannot provide its report within this timeframe, it shall inform the Parties to the dispute in writing of the reasons for the delay together with an estimate of the period within which it will present provide its reportdetermination. Any delay shall not exceed a further period of 30 days unless except as the Parties to the dispute otherwise agree. 3. The reasonable period of time normally shall should not exceed 15 months from the date of issuance of the Arbitral Tribunalarbitral tribunal’s final report.