Arbitral Expert Clause Samples

Arbitral Expert. If Seller and Purchaser, within ninety (90) days after Purchaser notifying Seller of a possible Environmental Liability, have not reached an agreement as to Seller's obligation to indemnify under this subclause D, each party shall be entitled to appoint ERM ▇▇▇▇▇▇▇▇ or - if ERM ▇▇▇▇▇▇▇▇ refuses the appointment - another internationally recognized environmental consulting firm agreed by the parties (within 30 days after such refusal to act as the arbitral expert) to determine such Environmental Liability and resulting Environmental Loss. Such expert shall also be instructed to decide on the costs of the arbitration procedure in analogy to Secs. 91 et seq. German Code of Civil Procedure. Upon commencement of such procedure if the arbitral expert requires a prepayment of its reasonable fees and expenses, such shall be paid equally by the parties (subject to the final allocation pursuant to the preceding sentence).