Non-Binding Mediation Required Prior to Litigation Sample Clauses

Non-Binding Mediation Required Prior to Litigation. The parties agree that in the event that any disagreement arises under this Agreement concerning any payment of remuneration to be made under this Agreement, or the interpretation or application of this Agreement, or any of the provisions of this Agreement, or any other matter with respect to the employment of the Executive by the Company pursuant to this Agreement, other than matters covered by Section 5 of this Agreement, then prior to the institution of any litigation by either party, such disagreement shall be first mediated by the parties who will use one mediator agreeable to them (or who is selected by two mediators each agreeable to one of the parties hereto if the parties are unable to agree unanimously on one mediator). Notwithstanding the foregoing, the parties agree that such non-binding mediation shall not be required prior to the institution of litigation by the Company to obtain injunctive or other equitable relief to enforce any of the covenants in Section 5 of this Agreement. Any such mediation shall not be binding upon either party, and the cost of any such mediation proceedings, other than the Executive’s legal fees and expenses, the payment of which shall be governed by the provisions of Section 6 of this Agreement, shall be borne exclusively by the Company. The parties have executed this Agreement effective as of the 22nd day of December, 2004. LSB BANCSHARES, INC. /s/ Rxxxxx X. Xxxx By: Rxxxxx X. Xxxx Its: Chairman, President and Chief Executive Officer AXXXXX X. XxXXXXXX /s/ Axxxxx X. XxXxxxxx EXHIBIT A WAIVER AND RELEASE AGREEMENT This Waiver and Release Agreement reflects the promises, releases, understanding and agreement made by AXXXXX X. XxXXXXXX (“Executive”) regarding the termination of Executive’s employment with LSB BANCSHARES, INC. (the “Company”).
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Non-Binding Mediation Required Prior to Litigation. The parties agree that in the event that any disagreement arises under this Agreement concerning any payment of remuneration to be made under this Agreement, or the interpretation or application of this Agreement, or any of the provisions of this Agreement, or any other matter with respect to the employment of the Executive by the Company pursuant to this Agreement, other than matters covered by Section 6 of this Agreement, then prior to the institution of any litigation by either party, such disagreement shall be first mediated by the parties who will use one mediator agreeable to them (or who is selected by two mediators each agreeable to one of the parties hereto if the parties are unable to agree unanimously on one mediator). Notwithstanding the foregoing, the parties agree that such non-binding mediation shall not be required prior to the institution of litigation by the Company to obtain injunctive or other equitable relief to enforce any of the covenants in Section 6 of this Agreement. Any such mediation shall not be binding upon either party, and the cost of any such mediation proceedings, other than the Executive’s legal fees and expenses, the payment of which shall be governed by the provisions of Section 7 of this Agreement, shall be borne exclusively by the Company.
Sample 1

Related to Non-Binding Mediation Required Prior to Litigation

  • Proceedings Prior to Any Action Requiring Adjustment As a condition precedent to the taking of any action which would require an adjustment in any of the acquisition rights pursuant to any of the Warrants, including the number of Common Shares which are to be received upon the exercise thereof, the Corporation shall take any action which may, in the opinion of Counsel, be necessary in order that the Corporation has unissued and reserved in its authorized capital and may validly and legally issue as fully paid and non-assessable all the Common Shares which the holders of such Warrants are entitled to receive on the full exercise thereof in accordance with the provisions hereof.

  • No Action Unless Specifically Authorized The Owner Trustee shall not manage, control, use, sell, dispose of or otherwise deal with any part of the Owner Trust Estate except in accordance with (i) the powers granted to and the authority conferred upon the Owner Trustee pursuant to this Agreement, (ii) the other Basic Documents to which the Issuer or the Owner Trustee is a party and (iii) any document or instruction delivered to the Owner Trustee pursuant to Section 6.03. In particular, the Owner Trustee shall not transfer, sell, pledge, assign or convey the 20[__]-[__] SUBI Certificate except as specifically required or permitted by the Basic Documents.

  • No Litigation, Etc No suit, action or other proceeding, investigation, or injunction or final judgment relating thereto, shall be pending or threatened before any court or governmental agency in which it is sought to restrain or prohibit or to obtain damages or other relief in connection with any of the Transaction Documents or the consummation of the Transaction.

  • No Litigation Pending There is no action, suit, proceeding or investigation pending or threatened against the Servicer which, either in any one instance or in the aggregate, may result in any material adverse change in the business, operations, financial condition, properties or assets of the Servicer, or in any material impairment of the right or ability of the Servicer to carry on its business substantially as now conducted, or in any material liability on the part of the Servicer, or which would draw into question the validity of this Agreement or of any action taken or to be taken in connection with the obligations of the Servicer contemplated herein, or which would be likely to impair materially the ability of the Servicer to perform under the terms of this Agreement;

  • Notification of Certain Matters; Transaction Litigation (a) The Company shall give prompt notice to Parent, and Parent shall give prompt notice to the Company, of any notice or other communication received by such Party from any Governmental Authority in connection with this Agreement, any of the Mergers or the other transactions contemplated by this Agreement, or from any Person alleging that the consent of such Person is or may be required in connection with any of the Mergers or the other transactions contemplated by this Agreement.

  • No Governmental Litigation There shall not be pending or threatened any Legal Proceeding in which a Governmental Body is or is threatened to become a party or is otherwise involved, and neither Parent nor the Company shall have received any communication from any Governmental Body in which such Governmental Body indicates the possibility of commencing any Legal Proceeding or taking any other action: (a) challenging or seeking to restrain or prohibit the consummation of the Merger or any of the other transactions contemplated by this Agreement; (b) relating to the Merger and seeking to obtain from the Company or any of its Subsidiaries, or Parent or any of its Subsidiaries, any damages or other relief that may be material to the Company and Parent, taken as a whole, following the Merger; (c) seeking to prohibit or limit in any material respect Parent's ability to vote, receive dividends with respect to or otherwise exercise ownership rights with respect to the stock of the Company; or (d) which would materially and adversely affect the right of the Company or Parent to own the assets or operate the business of Parent following the Merger.

  • Solvency; No Litigation, Violation, Indebtedness or Default (a) Borrower is solvent, able to pay its debts as they mature, has capital sufficient to carry on its business and all businesses in which it is about to engage, and (i) as of the Closing Date, the fair present saleable value of its assets, calculated on a going concern basis, is in excess of the amount of its liabilities and (ii) subsequent to the Closing Date, the fair saleable value of its assets (calculated on a going concern basis) will be in excess of the amount of its liabilities.

  • Notice of Certain Proposed Actions Having Environmental Impact Prompt written notice describing in reasonable detail (A) any proposed acquisition of stock, assets, or property by such Principal Company or any of its Subsidiaries that could reasonably be expected to (1) expose such Principal Company or any of its Subsidiaries to, or result in, Environmental Claims that could reasonably be expected to result in, individually or in the aggregate, a Material Adverse Effect or (2) affect the ability of such Principal Company or any of its Subsidiaries to maintain in full force and effect all material Governmental Authorizations required under any Environmental Laws for their respective operations and (B) any proposed action to be taken by such Principal Company or any of its Subsidiaries to modify current operations in a manner that could reasonably be expected to subject such Principal Company or any of its Subsidiaries to any additional obligations or requirements under any Environmental Laws that could reasonably be expected to result in, individually or in the aggregate, a Material Adverse Effect.

  • Disposition of Litigation The Company will consult with Holding with respect to any Action by any Third Party to restrain or prohibit or otherwise oppose the Merger or the other transactions contemplated by this Agreement and, subject to Section 6.3, will resist any such effort to restrain or prohibit or otherwise oppose the Merger or the other transactions contemplated by this Agreement. Holding may participate in (but not control) the defense of any stockholder litigation against the Company and its directors relating to the transactions contemplated by this Agreement at Holding's sole cost and expense. In addition, subject to Section 6.3, the Company will not voluntarily cooperate with any Third Party which has sought or may hereafter seek to restrain or prohibit or otherwise oppose the Debt Offer, the Merger or the other transactions contemplated by this Agreement and will cooperate with Holding to resist any such effort to restrain or prohibit or otherwise oppose the Debt Offer, the Merger or the other transactions contemplated by this Agreement.

  • No Material Litigation No litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of the Borrower, threatened by or against the Borrower or any of its Subsidiaries or against any of their respective properties or revenues (a) with respect to any of the Loan Documents or any of the transactions contemplated hereby or thereby, or (b) that could reasonably be expected to have a Material Adverse Effect.

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