Examples of Initiating Party in a sentence
Within five Business Days of receiving a Dispute Notice, the Party that received the Dispute Notice (the “Receiving Party”) will provide a response to the Dispute Notice (the “Response”) to the Initiating Party briefly setting out the Receiving Party’s response to the Dispute, including the remedy or relief sought by the Receiving Party and the grounds on which such remedy or relief is sought by the Receiving Party.
Any and all disputes arising under or in connection with this Agreement that are not resolved within forty-five (45) days after the Receiving Party’s receipt of said initial notice from the Initiating Party (or any mutually agreed upon extension to said forty-five day period), will be finally and exclusively resolved by arbitration under the Commercial Arbitration Rules of the American Arbitration Association then in effect.
Within three Business Days of the Initiating Party receiving a Response from the Receiving Party or, if a Response was not received, within five Business Days following receipt of the Dispute Notice by the Receiving Party, the Parties’ Representatives will meet (the “Initial Meeting”) and, in a diligent manner, make bona fide efforts to resolve the Dispute on a without prejudice basis.
Within fifteen (15) days after receipt of the initial notice, the Receiving Party shall (jointly with one or more of the other Receiving Parties, or individually) submit a written response to the Initiating Party and the other Receiving Parties.
Arbitration proceedings shall be commenced by the party desiring arbitration (the “Initiating Party”) giving written notice to the other party (the “Responding Party”) specifying the matter to be arbitrated and submitting the names of three potential arbitrators that would be acceptable to the Initiating Party.