Common use of —Settlement Proceeding Clause in Contracts

—Settlement Proceeding. (i) Step 1 is a proceeding in which the parties shall meet in a good faith effort to resolve the dispute by mutual agreement (“Settlement Proceeding”). FRCC shall provide administrative support, such as making available meeting space, as requested by the parties. The parties shall be represented at settlement discussions by a person with full authority to resolve the dispute. A final resolution may be subject to corporate or regulatory or other government approvals, the requirements for which shall be disclosed by any party subject to an approval prior to agreement on a final resolution.