Common use of Arbitration Matters Clause in Contracts

Arbitration Matters. (a) Notwithstanding the provisions of Article 12, any dispute arising under 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) Articles 6 and 10; and (ii) disputes under provisions set forth in Attachments to this Agreement that require or permit arbitration. (b) 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 good faith negotiations. The Parties shall be represented in such negotiations by one or more representatives with decision-making and settlement authority sufficient to resolve the dispute, subject to approval by the Party’s governing authority, where required. The Parties agree that the circumstances of this matter make it imperative that the dispute be resolved at the earliest possible date.