The "Amicable Resolution" clause encourages parties in a contract to resolve disputes through negotiation or mediation before resorting to formal legal proceedings. This approach aims to foster open communication and cooperation to find a mutually agreeable solution, potentially saving time and resources.
LICENSOR and LICENSEE shall attempt to settle between them amicably any controversy arising out of or related to this Amendment Agreement or the breach thereof. A senior executive from each party shall consult and negotiate to reach a solution. The Parties agree that the period of amicable resolution shall toll any otherwise applicable statute of limitations. However, nothing in this clause shall preclude any party from commencing mediation if said negotiations do not result in a signed written settlement agreement within thirty (30) days after written notice that these amicable resolution negotiations have commenced.
The Parties agree that the period of mediation shall toll any otherwise applicable statute of limitations. However, nothing in this clause shall preclude any Party from commencing further action if said mediation does not result in a signed written settlement agreement within sixty (60) days after written notice that amicable resolution negotiations have commenced. In the event the applicable statute of limitations shall expire prior to the expiration of the sixty (60) day period set forth in this section, either party may commence an action as set forth in Section 6 of this Agreement.
The Notice enables the Company to initiate arbitration should an amicable resolution of the dispute with the Mexican government not be reached. The filing of the Notice must precede initiation of arbitration by a minimum of 90 days.
Lastly, the Dissident Group is accusing the Trustees of “waging proxy contests.” The truth is that the Trustees reached out numerous times to the Dissident Group to find an amicable resolution. Time and time again we were rebuffed. They even published our private confidential settlement communications, a clear violation of basic ethical principles. The Trust’s shareholders should ask the Dissident Group: Why are you not engaging constructively with the Trustees to find an amicable resolution for the good of ALL shareholders?
Amicable Resolution. The parties shall attempt to settle any controversy between them amicably. To this end, a senior executive from each Party shall consult and negotiate to reach a solution. The Parties agree that the period of amicable resolution shall toll any otherwise applicable statute of limitations. However, nothing in this clause shall preclude any Party from commencing mediation if said negotiations do not result in a signed written settlement agreement within [...***...] days after written notice that these amicable resolution negotiations have commenced.
Mediation. If a controversy arises out of or relates to this agreement, or the breach thereof, and if the controversy cannot be settled through amicable resolution, the Parties agree to try in good faith to settle the controversy by mediation before resorting to final and binding arbitration.
Dispute Resolution. In the event any dispute, difference or controversy arises between the parties, out of or in relation to or in connection with the provisions of this Agreement, the parties shall thoroughly explore all possibilities for an amicable resolution. In case an amicable resolution is not reached within a reasonable period, not to exceed thirty (30) days from the date the parties begin discussion of an amicable resolution, either party, by written notice to the other party, initiate non-binding mediation.
An amicable resolution refers to a process by which parties involved in a dispute come to a mutual agreement or settlement, avoiding litigation or extended conflict. This approach emphasizes cooperation, negotiation, and compromise to settle differences, often with a focus on maintaining or restoring relationships.
You should consider using an amicable resolution when:
Writing an amicable resolution typically involves:
Example of writing a clause for amicable resolution in a contract:
In the event of a dispute arising under this Agreement, the parties shall negotiate in good faith to attempt to reach an amicable resolution before initiating any formal legal proceedings.
Contracts that frequently include amicable resolution clauses are:
These provisions highlight the shared interest in resolving potential issues cooperatively and swiftly, benefitting all involved parties.
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