Common use of Arbitral Awards Clause in Contracts

Arbitral Awards. The panel of arbitrators shall have no power to award non-monetary or equitable relief of any sort, other than injunctions and specific performance. The arbitrators will have no authority to award punitive or other damages not measured by the prevailing Party’s actual damages, except as may be required by applicable statute. The arbitrators shall have no power or authority, under the CPR Rules or otherwise, to relieve the Parties from their agreement hereunder to arbitrate or otherwise to amend or disregard any provision of this Agreement or to award any damages or other relief that conflicts with the express terms of this Agreement. In any arbitration in which [***], the arbitrators shall render a written decision setting forth the factual and legal bases of the award. The arbitrators also shall render a written decision setting forth the factual and legal bases of any award that [***]. In any case, the award of the arbitrators shall be final and binding on the Parties, except as such award may be modified pursuant to appeal as set forth in Section 15.2.4. Either Party may seek to confirm and enforce any final award entered in arbitration in any court of competent jurisdiction as provided in Section 17.13. The cost of the arbitration, including the fees of the arbitrators (excluding each Party’s attorneys’ fees), shall be borne by the Party the arbitrators determine has not prevailed in the arbitration; provided, if a Party does not prevail on all issues, the arbitrators shall award costs in reasonable proportion to the issues on which such Party prevails.