Internal Dispute definition

Internal Dispute means any claim in which (a) one or more members of the Board of Directors, the General Partner, the General Partner’s Affiliates or their respective employees or managers are suing one or more other members of the Board of Directors, the General Partner, the General Partner’s Affiliates or their respective employees or managers and (b) neither the Partnership nor a Parallel Investment Vehicle is a plaintiff, defendant or other participant in such claim and/or will (or could reasonably be expected to) receive any monetary benefit from the outcome of such claim.
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Internal Dispute means any claim in which (a) one or more members of the Board of Directors, the Managing Member, the Managing Member’s Affiliates or their respective employees or managers are suing one or more other members of the Board of Directors, the Managing Member, the Managing Member’s Affiliates or their respective employees or managers and (b) neither the Company nor a Parallel Investment Vehicle is a plaintiff, defendant or other participant in such claim and/or will (or could reasonably be expected to) receive any monetary benefit from the outcome of such claim.
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Examples of Internal Dispute in a sentence

  • Unless otherwise expressly set forth herein, in the event the Members are unable to reach agreement on or make a decision with respect to any matter on which the Members are entitled to vote (as summarized in Article 7.4), the matter shall be subject to the Internal Dispute Resolution Procedure described in Article 13 hereof.

  • Unless otherwise expressly set forth herein, in the event the Members are unable to reach agreement on or make a decision with respect to any matter on which the Members are entitled to vote, the matter shall be subject to the Internal Dispute Resolution Procedure described in Article 13 hereof.

  • The only way to prevent such needless expense is to have a comprehensive Internal Dispute Resolution Procedure (Procedure) in place, to which each of the Members have specifically agreed in advance of membership in the Company.

  • If a Member objects to Disassociation, they will be bound to resolve the dispute in accordance with the Internal Dispute Resolution Procedure described in Article 13, unless the reason for the Disassociation can be resolved within sixty (60) days to the satisfaction of the Manager, in which case their full Membership Interest will be reinstated.

  • Nothing in Article 13 (i.e., the Internal Dispute Resolution Procedure) shall prevent any Manager from being immediately removed pursuant to the procedures described in this Article.

  • The removed Manager shall have only ninety (90) days from: (a) removal, or (b) from receipt of Fees/Distributable Cash from which deductions have been taken, to invoke the Internal Dispute Resolution Procedure described in Article 13 for resolution of any dispute related to such matters.

  • However, the removed Manager may request application of the Internal Dispute Resolution Procedure (as described in Article 13) to settle disputes related to possible reinstatement or a determination of the amount(s) of Distributable Cash or Fees to which the removed Manager may be entitled.

  • Employees shall be required to use this Grievance and Arbitration procedure in lieu of the Employer’s Internal Dispute Resolution Process, except that employees are encouraged to discuss issues and concerns with their direct supervisor.

  • If a Member objects to Disassociation, they will be bound to resolve the dispute in accordance with the Internal Dispute Resolution Procedure described in Article 14, unless the reason for the Disassociation can be resolved within sixty (60) days to the satisfaction of the Series Manager, in which case their full Membership Interest will be reinstated.

  • If Your complaint is not resolved by the supervisor or manager, Your complaint may then be referred to Our Internal Dispute Resolution Facility (IDR Facility).