Common use of TERMINATION OF PROCEDURE Clause in Contracts

TERMINATION OF PROCEDURE. The Disputing Members agree to participate in the mediation procedure to its conclusion. The mediation shall be terminated: (i) by the execution of a settlement agreement by the Disputing Members; (ii) by a declaration of the mediator that the mediation is terminated; or (iii) by a written declaration of a Disputing Member to the effect that the mediation process is terminated at the conclusion of one full day's mediation session. Even if the mediation is terminated without a resolution of the Dispute, the Disputing Members agree not to terminate good faith negotiations and not to commence any Additional Proceedings prior to the expiration of five (5) business days following the mediation. Notwithstanding the foregoing, any Disputing Member may commence Additional Proceedings within such five (5) business day period if the Dispute could be barred by an applicable statute of limitations.

Appears in 2 contracts

Samples: Operating Agreement (Amen Properties Inc), Operating Agreement (Amen Properties Inc)

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TERMINATION OF PROCEDURE. The Disputing Members Parties agree to participate in the mediation procedure to its conclusion. The mediation shall be terminated: terminated (i) by the execution of a settlement agreement by the Disputing Members; Parties, (ii) by a declaration of the mediator that the mediation is terminated; , or (iii) by a written declaration of a Disputing Member Party to the effect that the mediation process is terminated at the conclusion of one full day's mediation session. Even if the mediation is terminated without a resolution of the Dispute, the Disputing Members Parties agree not to terminate good faith negotiations and not to commence any Additional Proceedings prior to the expiration of five (5) business days following the mediation. Notwithstanding the foregoing, any Disputing Member Party may commence Additional Proceedings within such five (5) business day period if the Dispute could be barred by an applicable statute of limitations.

Appears in 2 contracts

Samples: Shale Project, Westside Energy Corp

TERMINATION OF PROCEDURE. The Disputing Members Partners agree to participate in the mediation procedure to its conclusion. The mediation shall be terminated: terminated (i) by the execution of a settlement agreement by the Disputing Members; Partners, (ii) by a declaration of the mediator that the mediation is terminated; , or (iii) by a written declaration of a Disputing Member Partner to the effect that the mediation process is terminated at the conclusion of one full day's mediation session. Even if the mediation is terminated without a resolution of the Dispute, the Disputing Members Partners agree not to terminate good faith negotiations and not to commence any Additional Proceedings prior to the expiration of five (5) business days following the mediation. Notwithstanding the foregoing, any Disputing Member Partner may commence Additional Proceedings within such five (5) business day period if the Dispute could be barred by an applicable statute of limitations.

Appears in 1 contract

Samples: Troutt Kenny A

TERMINATION OF PROCEDURE. The Disputing Members Parties agree to participate in the mediation procedure to its conclusion. The mediation shall be terminated: terminated (i) by the execution of a settlement agreement by the Disputing Members; Parties, (ii) by a declaration of the mediator that the mediation is terminated; , or (iii) by a written declaration of a Disputing Member Party to the effect that the mediation process is terminated at the conclusion of one full day's ’s mediation session. Even if the mediation is terminated without a resolution of the Dispute, the Disputing Members Parties agree not to terminate good faith negotiations and not to commence any Additional Proceedings prior to the expiration of five (5) business days following the mediation. Notwithstanding the foregoing, any Disputing Member Party may commence Additional Proceedings (as defined in Section 13.5 of this Agreement) within such five (5) business day period if the Dispute could be barred by an applicable statute of limitations.

Appears in 1 contract

Samples: Operating Agreement (Conversion Labs, Inc.)

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TERMINATION OF PROCEDURE. The Disputing Members Parties agree to participate in the mediation procedure to its conclusion. The mediation shall be terminated: terminated (i) by the execution of a settlement agreement by the Disputing Members; Parties, (ii) by a declaration of the mediator that the mediation is terminated; , or (iii) by a written declaration of a Disputing Member Parties to the effect that the mediation process is terminated at the conclusion of one (1) full day's ’s mediation session. Even if the mediation is terminated without a resolution of the Dispute, the Disputing Members Parties agree not to terminate good faith negotiations and not to commence any Additional Proceedings additional proceedings prior to the expiration of five (5) business days following the mediation. Notwithstanding the foregoing, any Disputing Member Party may commence Additional Proceedings additional proceedings within such five (5) business day period if the Dispute could be barred by an applicable statute of limitations.

Appears in 1 contract

Samples: Operating Agreement (World Tree Usa, LLC)

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