Asserting a Claim Clause Samples
The 'Asserting a Claim' clause defines the process by which a party formally notifies the other party of a grievance or demand under the contract. Typically, this clause outlines the required steps for submitting a claim, such as providing written notice within a specified timeframe and including relevant details or supporting documentation. Its core function is to ensure that both parties are aware of potential disputes or issues in a timely and organized manner, thereby facilitating resolution and preserving legal rights.
Asserting a Claim. Without limiting the provisions of Section 9.1, if a Party (an “Indemnified Party”) wishes to assert a claim for indemnification against the other Party (the “Indemnifying Party”), the Indemnified Party shall give notice to the Indemnifying Party, setting forth with particularity the basis for the claim, promptly after the Indemnified Party becomes aware of any fact, condition, or event which gives rise to a Claim for which indemnification may be sought under this Article IX. Failure to notify the Indemnifying Party shall not relieve the Indemnifying Party of liability it may have to the Indemnified Party, except to the extent that the Indemnifying Party has been materially prejudiced by such failure and except that nothing in this Agreement shall be deemed to extend the time limits set forth in Section 9.1. Each Indemnified Party shall use commercially reasonable efforts to mitigate Losses for which it seeks indemnification under this Article IX.
Asserting a Claim. The parties agree to use commercially reasonable efforts to settle any Claim within 30 days following the time that a Claim is raised or shorter time period as either party may determine. All Claims will be resolved exclusively by arbitration pursuant to this Section 7, except as otherwise provided for herein. Solely in this section, Claim means any claim, dispute, or controversy between you and us whether contractual, extra- contractual, tortious or statutory arising from or relating to the Agreement or the relationship resulting from the Agreement, including the validity or enforceability or scope of this Arbitration provision. Claim also includes any claim, dispute, or controversy that may arise from or relates to: (i) our ordinary business practices, policies and procedures including our rights to Chargeback, create reserves and debit your Bank Account; or (ii) the Discount.
Asserting a Claim. The parties agree to use commercially reasonable efforts to settle any Claim within 60 days following the time that a Claim is raised. To this effect, the party asserting the Claim will provide notice thereof to other the other party and the two shall attempt in good faith to come to a mutually agreeable resolution. Claim means any claim, dispute, or controversy between Corporation and Amex Bank whether contractual, extra-contractual, tortious or statutory arising from or relating to this Agreement or the relationship resulting from this Agreement.