Good Faith Settlement. Each of the Buyer and Seller agree to use their best efforts to resolve amicably any dispute which arises under this Agreement or the Licenses, and will not take any action inconsistent therewith. At the option of any of the Buyer and Seller, any such dispute shall be submitted to the Vice President of Seller and the Chief Financial Officer of Buyer for their consideration and resolution, and if no decision is then reached, to the Senior Executive Officer of Seller and the Chief Executive Officer of Buyer for their consideration and resolution. The resolution of any matter in accordance with this Section 12.1 shall be binding on the Buyer and Seller for all purposes.
Appears in 2 contracts
Sources: Asset Purchase Agreement (Aki Inc), Asset Purchase Agreement (Aki Holding Corp)