Common use of Where Dispute arises Clause in Contracts

Where Dispute arises. (a) If the Indemnifying Party serves an Objection Notice, then a Dispute will be deemed to have arisen between the Indemnifying Party and the Indemnified Party, to which the provisions of Clause 10 (Dispute Resolution) of the Agreement will apply. (b) In the event that, as a result of the procedures set out in Clause 10 (Dispute Resolution) of the Agreement (which must have regard to the limitations in this Schedule), an arbitral award or determination requires the Indemnifying Party to pay any amount to the Indemnifying Party on account of an Indemnity Claim, the Indemnifying Party must pay or procure payment of such amount to the Indemnified Party within 10 (ten) Business Days’ of the arbitral award or determination being made, or such other date as specified in the arbitral award or determination or as may otherwise be agreed by the parties to the Dispute.

Where Dispute arises. (a) If the Indemnifying Party serves an Objection Notice, then a Dispute will be deemed to have arisen between the Indemnifying Party and the an Indemnified Party, to which the provisions of Clause 10 (Dispute Resolution) 9 of the Agreement will apply. (b) In the event that, as a result of the procedures set out in Clause 10 (Dispute Resolution) 9 of the Agreement (which must have regard to the limitations in this Schedule), an arbitral award or determination requires the Indemnifying Party to pay any amount to the Indemnifying an Indemnified Party on account of an Indemnity Claim, the Indemnifying Party must pay or procure payment of such amount to the Indemnified Party within 10 (ten) Business Days’ Days‟ of the arbitral award or determination being made, or such other date as specified in the arbitral award or determination or as may otherwise be agreed by the parties to the Dispute.