Common use of Resolution by Executives Clause in Contracts

Resolution by Executives. Any dispute, controversy or claim initiated by either party arising out of, or resulting from the breach or alleged breach by either party of its obligations under this Agreement (other than bona fide third party actions or proceedings filed or instituted in an action or proceeding by a third party against a party to this Agreement), whether before or after termination of this Agreement, shall be in the first instance referred to the respective chief executive officers of the parties unless such dispute or claim must be filed to preserve a legal interest or injunctive relief is required.

Resolution by Executives. Any dispute, controversy or claim initiated by either party Party arising out of, or resulting from the breach or alleged breach by either party Party of its obligations under this Agreement (other than bona fide third party actions or proceedings filed or instituted in an action or proceeding by a third party against a party to this AgreementParty), whether before or after termination of this Agreement, shall be in the first instance referred to the respective chief executive officers of the parties Parties unless such dispute or claim must be filed to preserve a legal interest or injunctive relief is required.