Common use of USE AND INITIATION OF PROCEDURE Clause in Contracts

USE AND INITIATION OF PROCEDURE. Except for and expressly excluding Actions in Equity (as defined in Section 7.15 below), in the event of a dispute between the parties arising out of or related to this Agreement (the "Dispute") the parties hereto agree to use the alternative dispute resolution procedures specified in this section (the "Procedure") in good faith in order to resolve such dispute. The Procedure may be modified by written agreement of the parties at the time the Dispute arises. A party seeking to initiate the Procedure shall give written notice to the other party, describing briefly the nature of the dispute and its claim and identifying an individual with authority to settle the dispute on its behalf. The party receiving such notice shall have five (5) days within which to designate, in a written notice given to the initiating party, an individual with authority to settle the dispute on its behalf. Neither of such authorized individuals shall have had direct substantive involvement in the matters involved in the Dispute.

USE AND INITIATION OF PROCEDURE. Except for and expressly excluding Actions in Equity (as defined in Section 7.15 below), in In the event of a dispute between the parties arising out of or related to this Separation Agreement or any of the Ancillary Agreements (the "Dispute") ), the parties hereto agree to use the alternative dispute resolution procedures specified in this section Article IX (the "Procedure") in good faith in order to resolve such dispute. The Procedure may be modified by written agreement of the parties at the time the Dispute arises. A party seeking to initiate the Procedure shall give written notice to the other party, describing briefly the nature of the dispute and its claim and identifying an individual with authority to settle the dispute on its behalf. The party receiving such notice shall have five (5) days within which to designate, in a written notice given to the initiating party, an individual with authority to settle the dispute on its behalf. Neither of such authorized individuals shall have had direct substantive involvement in the matters involved in the Dispute.