Common Dispute definition

Common Dispute means a dispute or an issue which involves a question of law (including a question of contract interpretation) or a question of fact, that is of general application or importance to the Principal and one or more Scheme Service Providers. Counterparty means the party to the Agreement other than the Principal.
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Examples of Common Dispute in a sentence

  • If the Issue Resolution Board decides further information or documentation is required for the determination of the Common Dispute, the Issue Resolution Board may direct one or more parties to provide such further submissions, information or documents as the Issue Resolution Board may require.

  • If a Principal Dispute has not been resolved (in whole or in part) within 85 Business Days of the Principal issuing a Notice of Common Dispute (irrespective of whether the other provisions of this Procedure have been complied with), any party may commence legal proceedings.

  • Within 5 Business Days of a Notice of Common Dispute being issued, a senior representative from each Dispute Party must meet and use all reasonable endeavours, acting in good faith, to resolve the Common Dispute.

  • As soon as possible after receipt of the submissions or after any conference and, in any event not later than 25 Business Days after referral of a Common Dispute to the Issue Resolution Board under clause 4.3 (or such other period as the parties may agree), the Issue Resolution Board must: determine the Common Dispute between the parties by unanimous agreement between the Members; and notify the Dispute Parties of that decision in accordance with clause 8 of the Procedure.

  • Appendix - Rules for the Issue Resolution Board decision process Within 5 Business Days after the referral of a Common Dispute to the Issue Resolution Board under clause 4.3, or such other time as the Issue Resolution Board may consider reasonable in the circumstances, each party must give to each other party and the Issue Resolution Board a written submission in support of that party's contentions.

  • Where an Dispute Party has properly given a Notice of Dissatisfaction under and in accordance with this clause 6.2 and the Common Dispute has not been resolved within 10 Business Days after the Notice of Dissatisfaction has been given, any Dispute Party may commence legal proceedings in respect of that Common Dispute.

  • If the Common Dispute is not resolved within 20 Business Days after the issue of the Notice of Common Dispute, the Principal must refer the Common Dispute to an Issue Resolution Board.

  • The failure of a party to comply with any requirement of this Appendix will not terminate or discontinue the Common Dispute resolution process.

  • The Dispute Party must: provide the relevant Related Scheme Service Providers with a draft of any proposed offer to settle the Common Dispute not less than 10 Business Days prior to submitting that proposed offer to the Principal; and not settle, waive or compromise the Common Dispute without the prior written consent of all of the relevant Related Scheme Service Providers.

  • Operation of clause This clause 7 applies to a Common Dispute in relation to which the Principal has made a determination pursuant to clause 3.1(b)(ii).