Common use of Time is of Essence Clause in Contracts

Time is of Essence. Prompt resolution of any dispute is important to all parties to this Agreement. The parties agree that the arbitration of any dispute shall be conducted expeditiously. The arbitrators shall be instructed and directed to assume case management initiative and control over the arbitration process (including scheduling of events, pre-hearing discovery and activities, and the conduct of the hearing), in order to complete the arbitration as expeditiously as is reasonably practical for obtaining a just resolution of the dispute.

Time is of Essence. Prompt resolution of any dispute is important to all parties to this Agreement. The parties agree that the arbitration of any dispute shall be conducted expeditiously. The arbitrators arbitrator(s) shall be instructed and directed to assume case management initiative and control over the arbitration process (including scheduling of events, pre-hearing discovery and activities, and the conduct of the hearing), in order to complete the arbitration as expeditiously as is reasonably practical for obtaining a just resolution of the dispute.