Common use of Mediation of Disputes; Jurisdiction and Venue Clause in Contracts

Mediation of Disputes; Jurisdiction and Venue. (a) No Party shall institute a proceeding before any tribunal to resolve any controversy or claim arising out of or relating to this Agreement, or the breach, termination or invalidity thereof (a “Dispute”), before such Party has sought to resolve the dispute through mediation. If the applicable Parties do not promptly agree on a mediator, any such Party may request the Director of the FHFA to appoint a mediator. All mediation proceedings under this Agreement shall be held in Washington, D.C. or such other location as the applicable Parties may agree upon. If the mediator is unable to facilitate a settlement of the Dispute within a reasonable time, as determined by the mediator, the mediator shall issue a written statement to the applicable Parties to that effect and the complaining Party may then pursue any other remedy available to it at law or in equity. The fees and expenses of the mediator shall be paid by the Party initiating mediation, unless the applicable Parties agree otherwise, but the paying Party shall be entitled to a judgment for reimbursement of such fees and expenses if it prevails against any other Party on all material issues in a judicial proceeding.

Mediation of Disputes; Jurisdiction and Venue. (a) No Party Neither the Boston Bank nor the MPF Provider shall institute a proceeding before any tribunal to resolve any controversy or claim arising out of or relating to this the Agreement, or the breach, termination or invalidity thereof (a “Dispute”), before such Party party has sought to resolve the dispute through mediation. If the applicable Parties parties do not promptly agree on a mediator, any such Party either party may request the Director then Chairman of the FHFA Board of the FHFB to appoint a mediator. All mediation proceedings under this Agreement shall be held in Washington, D.C. or such other location as the applicable Parties parties may agree upon. If the mediator is unable to facilitate a settlement of the Dispute within a reasonable time, as determined by the mediator, the mediator shall issue a written statement to the applicable Parties parties to that effect and the complaining Party party may then pursue any other remedy available to it at law or in equity. The fees and expenses of the mediator shall be paid by the Party party initiating mediation, unless the applicable Parties parties agree otherwise, but the paying Party party shall be entitled to a judgment for reimbursement of such fees and expenses if it prevails against any the other Party party on all material issues in a judicial proceeding.