Common use of Senior Management Team Meeting Clause in Contracts

Senior Management Team Meeting. If the PMT is unable to resolve the dispute, any party to the dispute may request the SMT members to meet with the PMT and attempt in good faith to resolve the dispute. The SMT will then review the claim in detail and meet face-to-face to discuss and resolve the matter in a “SMT Meeting.” The SMT Meeting will occur no later than 10 Business Days after the PMT has declared an impasse in its efforts to resolve the dispute, unless the parties to the dispute agree upon a longer period of time. The SMT Meeting will be for the express purposes of: (i) exchanging and reviewing all pertinent non- privileged documents and information relating to the matters and issues in dispute; (ii) freely and candidly discussing each party’s position; and (iii) reaching agreement upon a reasonable, compromise resolution of the dispute. If a negotiated settlement is reached, the terms of the settlement will be recorded in a written Amendment or Change Order signed by the parties to the dispute.