Common use of Litigation and Unilateral Commencement of Arbitration Clause in Contracts

Litigation and Unilateral Commencement of Arbitration. Notwithstanding the foregoing provisions of this Article VII, (a) a Party may (i) seek preliminary provisional or injunctive judicial relief with respect to a Dispute without first complying with the procedures set forth in Sections 7.1, 7.2 and 7.3 if such action is reasonably necessary to avoid irreparable harm and (b) either Party may initiate arbitration before the expiration of the periods specified in Sections 7.2 and 7.3 if (i) such action is reasonably necessary to avoid irreparable harm or (ii) such Party has submitted a Mediation Request or Arbitration Request, as applicable, (A) and the other Party has failed, within the applicable periods set forth in Section 7.2, to agree upon a date for the first mediation session to take place within thirty (30) days after the appointment of such mediator or such longer period as the Parties may agree to in writing or (B) such Party has failed to comply with Section 7.3 in good faith with respect to commencement and engagement in arbitration. In such event, the other Party may commence and prosecute such arbitration unilaterally in accordance with the Arbitration Rules. Immediately following the issuance of any preliminary provisional or injunctive relief pursuant to clause (a) of the immediately preceding sentence, the Party seeking such relief will consent to the stay of any judicial proceedings pending the resolution of the Dispute pursuant to the procedures set forth in Sections 7.1, 7.2 and 7.3.

Appears in 3 contracts

Samples: Separation and Distribution Agreement (Adient LTD), Separation and Distribution Agreement (Johnson Controls International PLC), Separation and Distribution Agreement (Adient LTD)

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Litigation and Unilateral Commencement of Arbitration. Notwithstanding the foregoing provisions of this Article VII, (a) a Party may (i) seek preliminary provisional or injunctive judicial relief with respect to a Dispute without first complying with the procedures set forth in Sections 7.1, 7.2 and 7.1 to 7.3 if such action is reasonably necessary to avoid irreparable harm damage and (b) either Party may initiate arbitration before the expiration of the periods specified in Sections 7.2 and 7.3 if (i) such action is reasonably necessary to avoid irreparable harm or (ii) such Party has submitted a Mediation Request or Arbitration Request, as applicable, (A) and the other Party has failed, within the applicable periods set forth in Section 7.2, to agree upon a date for the first mediation session to take place within thirty (30) days after the appointment of such mediator or such longer period as the Parties may agree to in writing or (Bii) such Party has failed to comply with Section 7.3 in good faith with respect to commencement and engagement in arbitration. In such event, the other Party may commence and prosecute such arbitration unilaterally in accordance with the Arbitration Rules. Immediately following the issuance of any preliminary provisional or injunctive relief pursuant to clause (a) of the immediately preceding sentence, the Party seeking such relief will consent to the stay of any judicial proceedings pending the resolution of the Dispute pursuant to the procedures set forth in Sections 7.1, 7.2 and 7.1 to 7.3.

Appears in 3 contracts

Samples: Separation and Distribution Agreement (Synnex Corp), Separation and Distribution Agreement (Concentrix Corp), Separation and Distribution Agreement (Concentrix Corp)

Litigation and Unilateral Commencement of Arbitration. Notwithstanding the foregoing provisions of this Article VII, (a) a Party may (i) seek preliminary provisional or injunctive judicial relief with respect to a Dispute without first complying with the procedures set forth in Sections 7.1, 7.2 and 7.3 7.1 to 7.4 if such action is reasonably necessary to avoid irreparable harm damage and (b) either Party may initiate arbitration before the expiration of the periods specified in Sections 7.2 7.3 and 7.3 7.4 if (i) such action is reasonably necessary to avoid irreparable harm or (ii) such Party has submitted a Mediation Request or Arbitration Request, as applicable, (A) and the other Party has failed, within the applicable periods set forth in Section 7.27.3, to agree upon a date for the first mediation session to take place within thirty (30) days after the appointment of such mediator or such longer period as the Parties may agree to in writing or (Bii) such Party has failed to comply with Section 7.3 7.4 in good faith with respect to commencement and engagement in arbitration. In such event, the other Party may commence and prosecute such arbitration unilaterally in accordance with the Arbitration Rules. Immediately following the issuance of any preliminary provisional or injunctive relief pursuant to clause (a) of the immediately preceding sentence, the Party seeking such relief will consent to the stay of any judicial proceedings pending the resolution of the Dispute pursuant to the procedures set forth in Sections 7.1, 7.2 and 7.37.1 to 7.4.

Appears in 2 contracts

Samples: Separation and Distribution Agreement, Separation and Distribution Agreement (Ebay Inc)

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Litigation and Unilateral Commencement of Arbitration. Notwithstanding the foregoing provisions of this Article VII, (a) a Party may (i) seek preliminary provisional or injunctive judicial relief with respect to a Dispute without first complying with the procedures set forth in Sections 7.1, 7.2 and 7.3 7.1 to 7.4 if such action is reasonably necessary to avoid irreparable harm damage and (b) either Party may initiate arbitration before the expiration of the periods specified in Sections 7.2 7.3 and 7.3 7.4 if (i) such action is reasonably necessary to avoid irreparable harm or (ii) such Party has submitted a Mediation Request or Arbitration Request, as applicable, (A) and the other Party party has failed, within the applicable periods set forth in Section 7.27.3, to agree upon a date for the first mediation session to take place within thirty (30) days after the appointment of such mediator or such longer period as the Parties may agree to in writing or (Bii) such Party has failed to comply with Section 7.3 7.4 in good faith with respect to commencement and engagement in arbitration. In such event, the other Party may commence and prosecute such arbitration unilaterally in accordance with the Arbitration Rules. Immediately following the issuance of any preliminary provisional or injunctive relief pursuant to clause (a) of the immediately preceding sentence, the Party seeking such relief will consent to the stay of any judicial proceedings pending the resolution of the Dispute pursuant to the procedures set forth in Sections 7.1, 7.2 and 7.37.1 to 7.4.

Appears in 1 contract

Samples: Separation and Distribution Agreement (PayPal Holdings, Inc.)

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