Common use of Dispute over Right to Terminate Clause in Contracts

Dispute over Right to Terminate. If there is a dispute between the Parties over either Party’s right to terminate this Agreement under Section 14.1, Closing shall not occur, as scheduled. The Party which disputes the other Party’s right to terminate may initiate arbitration proceedings as described in Section 16.11 within thirty (30) Days of the date on which Closing was scheduled to occur and, if arbitration is so initiated, the dispute will be resolved through such arbitration proceeding. If the Party which disputes the termination right does not initiate an arbitration proceeding to resolve the dispute within the time period specified hereinabove, such Party shall be deemed to have waived its right to object to such termination.

Appears in 4 contracts

Samples: Purchase and Sale Agreement (Enterra Energy Trust), Purchase and Sale Agreement (Enterra Energy Trust), Purchase and Sale Agreement (Enterra Energy Trust)

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Dispute over Right to Terminate. If there is a dispute between the Parties parties over either Party’s party's right to terminate this Agreement under Section 14.1Article 18.1 or otherwise, Closing shall not occur, as scheduled. The Party party which disputes the other Party’s party's right to terminate the Agreement may initiate binding arbitration proceedings as described in Section 16.11 accordance with Article 19.1 within thirty (30) Days of the date on which Closing was scheduled to occur and, if arbitration is so initiated, the dispute will be resolved through such binding arbitration proceeding. If the Party party which disputes the termination right does not initiate an arbitration proceeding to resolve the dispute within the time period specified hereinabove, such Party party shall be deemed to have waived for all purposes its right to object to or dispute such termination.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Amoco Corp), Purchase and Sale Agreement (Hs Resources Inc)

Dispute over Right to Terminate. If there is a dispute between the Parties ------------------------------- parties over either Party’s party's right to terminate this Agreement under Section 14.1Article 17.1 or otherwise, Closing shall not occur, as scheduled. The Party party which disputes the other Party’s party's right to terminate the Agreement may initiate binding arbitration proceedings as described in Section 16.11 accordance with Article 18.1 within thirty (30) Days of the date on which Closing was scheduled to occur and, if arbitration is so initiated, the dispute will be resolved through such binding arbitration proceeding. If the Party party which disputes the termination right does not initiate an arbitration proceeding to resolve the dispute within the time period specified hereinabove, such Party party shall be deemed to have waived for all purposes its right to object to or dispute such termination.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Cross Timbers Oil Co), Purchase and Sale Agreement (Gothic Energy Corp)

Dispute over Right to Terminate. If there is a dispute between the Parties parties over either Party’s party's right to terminate this Agreement under Section 14.1, Closing shall not occur, as scheduled. The Party party which disputes the other Party’s party's right to terminate may initiate arbitration proceedings as described in accordance with Section 16.11 16.17 within thirty (30) Days of the date on which Closing was scheduled to occur and, if arbitration is so initiated, the dispute will be resolved through such arbitration proceeding. If the Party party which disputes the termination right does not initiate an arbitration proceeding to resolve the dispute within the time period specified hereinaboveherein above, such Party party shall be deemed to have waived its right to object to such termination.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Exco Resources Inc)

Dispute over Right to Terminate. If there is a dispute between the Parties parties over either Party’s party's right to terminate this Agreement under Section 14.1Article 15.1, Closing shall not occur, as scheduled. The Party party which disputes the other Party’s party's right to terminate may initiate arbitration proceedings as described in Section 16.11 accordance with Article 17.17 within thirty (30) Days of the date on which Closing was scheduled to occur and, if arbitration is so initiated, the dispute will be resolved through such arbitration proceeding. If the Party party which disputes the termination right does not initiate an arbitration proceeding to resolve the dispute within the time period specified hereinabove, such Party party shall be deemed to have waived its right to object to such termination.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Evergreen Resources Inc)

Dispute over Right to Terminate. If there is a dispute between the Parties parties over either Partyparty’s right to terminate this Agreement under Section 14.1Article 13.1, Closing shall not occur, occur as scheduled. The Party party which disputes the other Partyparty’s right to terminate may initiate arbitration proceedings as described in Section 16.11 accordance with Article 15.16 within thirty (30) Days of the date on which Closing was scheduled to occur and, if arbitration is so initiated, the dispute will be resolved through such arbitration proceeding. If the Party party which disputes the termination right does not initiate an arbitration proceeding to resolve the dispute within the time period specified hereinabove, such Party party shall be deemed to have waived its right to object to such termination.

Appears in 1 contract

Samples: Purchase and Sale Agreement (PRB Energy, Inc.)

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Dispute over Right to Terminate. (a) If there is a dispute between the Parties parties over either Partyparty’s right to terminate this Agreement under subsections (a), (b) or (d) of Section 14.112.1, Closing shall not occur, occur as scheduled. The Party which disputes party disputing the other Partyparty’s right to terminate may initiate arbitration proceedings as described in accordance with this Section 16.11 12.3, subsection (b) within thirty (30) Days days of the date on which Closing was scheduled to occur and, if arbitration is so initiated, the dispute will be resolved through such arbitration proceeding. If the Party which disputes party disputing the right of termination right does not initiate an arbitration proceeding to resolve the dispute within the time period specified hereinabovesaid 30 days, such Party party shall be deemed to have forever waived its right to object to such termination.

Appears in 1 contract

Samples: Agreement (Tipperary Corp)

Dispute over Right to Terminate. If there is a dispute between the Parties parties over either Party’s party's right to terminate this Agreement under Section 14.115.1, Closing shall not occur, as scheduled. The Party party which disputes the other Party’s party's right to terminate may initiate arbitration proceedings as described in Section 16.11 accordance with Article 13 within thirty (30) Days of after the date on which Closing was scheduled to occur and, if arbitration is so initiated, the dispute will be resolved through such arbitration proceeding. If the Party which disputes the termination right does not initiate an arbitration proceeding to resolve the dispute within the time period specified hereinaboveIF THE PARTY WHICH DISPUTES THE TERMINATION RIGHT DOES NOT INITIATE AN ARBITRATION PROCEEDING TO RESOLVE THE DISPUTE WITHIN THE TIME PERIOD SPECIFIED HEREINABOVE, such Party shall be deemed to have waived its right to object to such terminationSUCH PARTY SHALL BE DEEMED TO HAVE WAIVED ITS RIGHT TO OBJECT TO SUCH TERMINATION.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Bellwether Exploration Co)

Dispute over Right to Terminate. If there is a dispute between the Parties parties over either Partyparty’s right to terminate this Agreement under Section 14.115.1, Closing shall not occur, as scheduled. The Party party which disputes the other Partyparty’s right to terminate may initiate arbitration proceedings as described in Section 16.11 accordance with Article 13 within thirty (30) Days of after the date on which Closing was scheduled to occur and, if arbitration is so initiated, the dispute will be resolved through such arbitration proceeding. If the Party party which disputes the termination right does not initiate an arbitration proceeding to resolve the dispute within the time period specified hereinabove, such Party party shall be deemed to have waived its right to object to such termination.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Southwestern Energy Co)

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