Alternative Arbitration. In each case specified in this Lease for a matter to be submitted to arbitration pursuant to the provisions of this Section 40.2, Lessor and Lessee shall designate any nationally recognized accounting firm with a hospitality division to serve as arbitrator of such dispute within fifteen (15) days after written demand for arbitration is received or sent by a party. In the event the parties shall fail to make such designation within such fifteen (15) day period, or no nationally recognized accounting firm satisfying such qualifications is available and willing to serve as arbitrator, the arbitration shall instead be administered as set forth in Section 40.1.
Appears in 3 contracts
Samples: Stock Purchase Agreement (Keystone Inc Et Al), Lease Agreement (Capstar Hotel Co), Lease Agreement (American General Hospitality Corp)
Alternative Arbitration. In each case specified in this Lease for a matter to be submitted to arbitration -83- 174 pursuant to the provisions of this Section 40.2, Lessor and Lessee shall designate any nationally recognized accounting firm with a hospitality division to serve as arbitrator of such dispute within fifteen (15) days after written demand for arbitration is received or sent by a party. In the event the parties shall fail to make such designation within such fifteen (15) day period, or no nationally recognized accounting firm satisfying such qualifications is available and willing to serve as arbitrator, the arbitration shall instead be administered as set forth in Section 40.1.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Prime Hospitality Corp)
Alternative Arbitration. In each case specified in this Lease ----------------------- for a matter to be submitted to arbitration pursuant to the provisions of this Section 40.2, Lessor and Lessee shall designate any nationally recognized accounting firm with a hospitality division to serve as arbitrator of such dispute within fifteen (15) days after written demand for arbitration is received or sent by a party. In the event the parties shall fail to make such designation within such fifteen (15) day period, or no nationally recognized accounting firm satisfying such qualifications is available and willing to serve as arbitrator, the arbitration shall instead be administered as set forth in Section 40.1.
Appears in 1 contract
Samples: Lease Agreement (American General Hospitality Corp)
