Common use of Arbitration Matters Clause in Contracts

Arbitration Matters. 15.1.1 Each of the following is an “Arbitration Matter” following notice from one Party to another Party that a dispute exists as to such matter: (i) disapproval by the Agency of Construction Documents, but not the failure of the Agency to grant a Certificate of Completion (and any consent necessary from the Department of Public Works shall not be governed by this DDA); (ii) the Parties’ failure to reach agreement under Section 11.5 [Proportionality]; (iii) the failure of the Agency Director to Approve an Assignment and Assumption Agreement; (iv) disputes under Articles 17 [Sale of Lots], 19 [Agency Costs] and 24 [Excusable Delay]; (v) the sufficiency of Adequate Security provided under Article 26, but not any disputes regarding the right to call or act upon Adequate Security or the failure of an obligor under any Adequate Security to perform its obligations under the Adequate Security; (vi) the sufficiency of Stadium Assurance provided under Article 5, but not any disputes regarding the right to call or act upon Stadium Assurance or the failure of an obligor under any Stadium Assurance to perform its obligations under the Stadium Assurance; (vii) the amount of the ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Liquidation Payments as provided in Section 6.2.3(b); (viii) the amount of the Final Public Improvement Cost as provided in Section 26.7; and (ix) disputes under provisions set forth in Exhibits to this DDA that call for or permit arbitration. 15.1.2 Following the receipt of notice of an Arbitration Matter the Parties will have thirty (30) days (or such longer time as they may agree) to attempt to resolve the Arbitration Matter through informal discussions. The Parties agree that the circumstances of such matter make it imperative that the dispute be resolved at the earliest possible date.