Claims Resolution Process Clause Samples
The Claims Resolution Process clause establishes the procedures parties must follow to address and resolve disputes or claims arising under the agreement. Typically, this clause outlines steps such as providing written notice of a claim, engaging in good faith negotiations, and possibly escalating to mediation or arbitration if the issue remains unresolved. Its core practical function is to provide a clear, structured pathway for resolving disagreements efficiently, minimizing disruption to the business relationship and reducing the likelihood of costly litigation.
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Claims Resolution Process. 4.1 If the Executive has any claim in connection with this Agreement, he agrees to submit his claim in writing to Compaq's Senior Vice President, Human Resources, who will promptly respond to the Executive normally within 21 days from the receipt of the claim.
4.2 If the Executive disagrees with Compaq's determination, the parties agree to attempt to settle the Executive's claim by non-binding mediation held in Houston, Texas and administrated by the American Arbitration Association ("AAA") under its National Rules for the Resolution of Employment Disputes.
4.3 If the parties fail to reach a settlement as a result of the mediation process, any claim or controversy in connection with this Agreement shall be finally settled by binding arbitration conducted by AAA, held in Houston, Texas pursuant to AAA's National Rules for the Resolution of Employment Disputes. A judgment based upon the arbitrator's decision may be entered and enforced in any Texas court having jurisdiction.
4.4 The cost of the foregoing mediation and arbitration shall be borne equally by the parties.
Claims Resolution Process. The Parties shall utilize each of the following steps in the Claims Resolution Process in the sequence they appear below. Each Party shall participate fully and in good faith in each step in the Claims Resolution Process, which good faith effort shall be a condition precedent to the right of each Party to proceed to the next step in the Claims Resolution Process.
Claims Resolution Process. The Reorganized Debtor and the Unsecured Creditor Oversight Committee (to the extent created) shall examine all Claims and will have the right, authority, power and discretion to: (i) file objections to the allowance, priority and classification of all Claims; (ii) litigate to judgment, settle or withdraw objections to Claims without any notice or approval of any other party or the Court; and (iii) request that the Court estimate any claim pursuant to 11 U.S.C. § 502(c). The deadline to file objections to Claims shall be sixty (60) days after the Effective Date, which date may be extended by the Reorganized Debtor with order of the Court. Releases The Plan will provide, to the fullest extent permitted by law, for releases, exculpations and waivers of claims and Causes of Action, in favor of: (i) the Debtor and its existing and prior directors, officers, employees, agents, professionals, representatives, predecessors, successors, subsidiaries and affiliates; (ii) the DIP Agent, Lenders and their directors, officers, employees, agents, professionals, representatives, predecessors, successors, subsidiaries and affiliates; (iii) the members of the UCC, including their directors, officers, employees, agents, professionals, successors subsidiaries and affiliates, in their capacity as members; (iv) the members of the Ad Hoc Committee, including their directors, officers, employees, agents , professionals, subsidiaries and affiliates, in their capacity as members; (v) the professionals retained in the Bankruptcy Case by the Parties; and (vi) persons subject to potential Avoidance Actions. The releases granted in (i) and (vi) above shall not extend to any person whose claim against or equity interest in the Debtor is disputed by any of the Parties.
Claims Resolution Process. The term “Claims Resolution Process” means the process for the resolution of a Claim(s) as set forth in the Claims Resolution Article of these General Conditions.
Claims Resolution Process. (a) If a Purchaser Indemnified Party has a claim for indemnification hereunder, such Purchaser Indemnified Party shall deliver written notice to the Stockholder Representative (a “Notice of Claim”) in accordance with Section 10.12, (i) stating that such Purchaser Indemnified Party may be entitled to indemnification or other payment pursuant to this Agreement (an “Indemnification Obligation”), (ii) stating the aggregate amount (the “Claim Amount”) of such Indemnification Obligation (or, in the case of an unliquidated Indemnification Obligation, a good faith estimate thereof), and (iii) describing in reasonable detail, to the extent practicable, the facts giving rise to such Indemnification Obligation and the basis upon which such Purchaser Indemnified Party intends to seek indemnification hereunder. Any Notice of Claim may be supplemented at any time. A Notice of Claim shall be delivered promptly, but in any event no later than thirty (30) days after Purchaser Indemnified Party becomes aware of such Indemnification Obligation; provided, that the failure to deliver shall not relieve a Responsible Party of its obligations hereunder unless and to the extent the Responsible Party shall be actually and materially prejudiced by such failure to notify.
(b) If the Stockholder Representative objects to the Indemnification Obligation or any portion of the Claim Amount specified in such Notice of Claim, the Stockholder Representative shall, within ten (10) Business Days after receipt of such Notice of Claim, deliver to Purchaser a written certificate (a “Reply Certificate”), (i) noting, in reasonable detail, its objection to such Indemnification Obligation or the amount or method of determination to the Indemnification Obligation or Claim Amount and (ii) specifying in reasonable detail, to the extent practicable, the basis for such disagreement. Within thirty (30) days of the delivery of the Reply Certificate, Purchaser and the Stockholder Representative shall negotiate in good faith to attempt to reach a written resolution of any objections raised in a Reply Certificate. In the event that the controversy is not resolved within such thirty (30)-day period, Purchaser and the Stockholder Representative may thereupon proceed to pursue any and all available remedies at law in accordance with Section 10.11.
(c) If the Stockholder Representative does not deliver a Reply Certificate to Purchaser in the timeframe prescribed in Section 7.7(b) with respect to any Notice of Clai...
Claims Resolution Process