Common use of Amicable Solution Clause in Contracts

Amicable Solution. Notwithstanding Provision 22.1, and prior to referring the dispute to the EBA, without prejudice to the right granted to the Parties by Article 14(5) of the Directive to refer this dispute to the EBA: a. In the event of any dispute between the Parties hereto arising from or relating to The Agreement, then upon a written request from either Party, each of the Parties shall enter into negotiations in order to seek an amicable solution to the dispute; b. If the Parties are not able to resolve the dispute within a reasonable period (in any case not exceeding thirty (30) calendar days from the date of receipt of the written request for amicable solution, then the dispute may be referred by either Party (or both) to the EBA according to Provision 22.1; c. This period is reduced to two (2) days if the dispute arises in the course of a Payout Process between the Parties and risks delaying the Payout Process.