Common use of Further Negotiation Clause in Contracts

Further Negotiation. Any Member wishing to submit a matter or proposal to further negotiation as permitted above or pursuant to Section 16.8 shall do so by giving written notice of further negotiation to the other Members containing a brief description of the nature of the dispute to be further negotiated and the position of the Member initiating further negotiation. Upon receipt of such notice, each Member shall appoint a representative for such further negotiations, which representative shall hold a position with the Person owning such Member of equal or superior status to the prior representative of such Member with respect to the proposal in question. The respective representatives shall meet at the principal office of the Company at 10:00 a.m. local time on the third Business Day after the date of receiving the notice of further negotiations.