Common use of Initial Resolution Clause in Contracts

Initial Resolution. In the case of any disputes between the parties arising from this Agreement, and in case this Agreement does not provide a solution for how to resolve such disputes, the parties shall discuss and negotiate in good faith a solution acceptable to both parties and in the spirit of this Agreement. If after negotiating in.good faith pursuant to the foregoing sentence, the parties fail to reach agreement within thirty (30) days, then the President of Bukwang and the Chief Executive Officer or Chief Operating Officer of Triangle shall discuss in good faith an appropriate resolution to the dispute. If these executives fail, after good faith discussions not to exceed thirty (30) days, to reach an amicable agreement then the parties shall submit to binding arbitration pursuant to Section 19.2 (“Arbitration”). The date of submission of the matter to substrate shall be the “Dispute Date”.

Initial Resolution. In the case of any disputes between the parties arising from this Agreement, and in case this Agreement does not provide a solution for how to resolve such disputes, the parties shall discuss and negotiate in good faith a solution acceptable to both parties and in the spirit of this Agreement. If after negotiating in.good in good faith pursuant to the foregoing sentence, the parties fail to reach each agreement within thirty (30) days, then the President of Bukwang and the Chief Executive Officer or Chief Operating Officer of Triangle Eisai shall discuss in good faith an appropriate resolution to the dispute. If these executives fail, after good faith discussions not to exceed thirty (30) days, to reach an amicable agreement then the parties shall submit to binding arbitration pursuant to Section 19.2 (“Arbitration”). The date of submission of the matter to substrate shall be the “Dispute Date”.

Initial Resolution. In the case of any disputes between the parties arising from this Agreement, and in case this Agreement does not provide a solution for how to resolve such disputes, the parties shall discuss and negotiate in good faith a solution acceptable to both parties and in the spirit of this Agreement. If after negotiating in.good in good faith pursuant to the foregoing sentence, the parties fail to reach agreement within thirty (30) days, then the President of Bukwang and the President, Chief Executive Officer or Chief Operating Officer of Triangle Bukwang and the President, Chief Executive Officer or Chief Operating Officer of Pharmasset shall discuss in good faith an appropriate resolution to the dispute. If these executives fail, after good faith discussions not to exceed thirty (30) days, to reach an amicable agreement then the parties shall submit to binding arbitration pursuant to Section 19.2 (“Arbitration”). The date of submission of the matter to substrate arbitration shall be the “Dispute Date”.