Common use of Arbitration - General Clause in Contracts

Arbitration - General. (a) If the parties are in dispute as to any matters governed by this Agreement or are unable for a period of thirty (30) days to agree on any matter upon which they are required by the terms of this Agreement to agree or which is necessary for them to agree upon in order to conduct their respective business, or if an approval or consent is required of an Owner and such approval or consent is unreasonably withheld in the opinion of the party who requested same, then the matter shall be submitted to an arbitration panel. Arbitration proceedings shall be started by the party desiring arbitration (hereinafter called the “Initiating Party”) giving Notice to the other party (hereinafter called the “Responding Party”) specifying briefly the matter to be arbitrated and designating an arbitrator, and the Responding Party shall be entitled to designate a second arbitrator by giving Notice thereof to the Initiating Party within ten (10) days after receipt of the Initiating Party’s Notice, if the Responding Party shall elect to designate a second arbitrator and deliver Notice thereof within the time limited above, the two arbitrators so designated shall within ten (10) days following the receipt of the Notice designating the Responding Party’s arbitrator designate a third arbitrator to act jointly with them, if the arbitrators shall be unable to agree in the selection of the third arbitrator (who shall be the Chairman of the arbitration panel hereunder), the third arbitrator shall be designated by the Court upon proper application by the Initiating Party pursuant to the provisions of the Arbitrations Act, (Ontario). The arbitration panel shall then promptly proceed to hear the evidence and submissions of the Initiating Party and the Responding Party and shall render a written decision within thirty (30) days after the designation of the third arbitrator. The decision of the majority of the arbitration panel shall be deemed to be the decision of the arbitration panel, both in respect of the procedure and conduct of the parties during the arbitration and the final determination of the matter to be arbitrated, and such decision shall be final and binding upon the parties and shall not be subject to appeal and may be made an order of the Court pursuant to the Arbitrations Act (Ontario). (b) Submission to arbitration as provided in this section 7.1 shall be a condition precedent to the bringing of any legal action with respect to any matter pursuant to the provisions of this Agreement. The arbitration panel shall have the authority to assess the costs of the arbitration panel against either or both the Initiating Party or the Responding Party but each party, however, shall bear its own evidence, witness and legal counsel fees. (c) It is agreed that the arbitration shall take place in London, Ontario and that such arbitration shall be held for the purpose of hearing such evidence and representations as either the Initiating Party or Responding Party may present at a time and place in London, Ontario to be agreed upon at the time by the parties or, failing such agreement, by the arbitrators. Furthermore, the party in whose favour the arbitration decision is rendered shall be entitled to specific performance to ensure that such decision is properly carried out.

Arbitration - General. (a) If the parties are in dispute as to any matters governed by this Agreement or are unable for a period of thirty (30) days to agree on any matter upon which they are required by the terms of this Agreement to agree or which is necessary for them to agree upon in order to conduct their respective business, or if an approval or consent is required of an Owner and such approval or consent is unreasonably withheld in the opinion of the party who requested same, then the matter shall be submitted to an arbitration panel. Arbitration proceedings shall be started by the party desiring arbitration (hereinafter called the “Initiating Party”) giving Notice to the other party (hereinafter called the “Responding Party”) specifying briefly the matter to be arbitrated and designating an arbitrator, and the Responding Party shall be entitled to designate a second arbitrator by giving Notice thereof to the Initiating Party within ten (10) days after receipt of the Initiating Party’s Notice, if the Responding Party shall elect to designate a second arbitrator and deliver Notice thereof within the time limited above, the two arbitrators so designated shall within ten (10) days following the receipt of the Notice designating the Responding Party’s arbitrator designate a third arbitrator to act jointly with them, if the arbitrators shall be unable to agree in the selection of the third arbitrator (who shall be the Chairman of the arbitration panel hereunder), the third arbitrator shall be designated by the Court upon proper application by the Initiating Party pursuant to the provisions of the Arbitrations Act, (Ontario). The arbitration panel shall then promptly proceed to hear the evidence and submissions of the Initiating Party and the Responding Party and shall render a written decision within thirty (30) days after the designation of the third arbitrator. The decision of the majority of the arbitration panel shall be deemed to be the decision of the arbitration panel, both in respect of the procedure and conduct of the parties during the arbitration and the final determination of the matter to be arbitrated, and such decision shall be final and binding upon the parties and shall not be subject to appeal and may be made an order of the Court pursuant to the Arbitrations Act (Ontario). (b) Submission to arbitration as provided in this section 7.1 shall be a condition precedent to the bringing of any legal action with respect to any matter pursuant to the provisions of this Agreement. The arbitration panel shall have the authority to assess the costs of the arbitration panel against either or both the Initiating Party or the Responding Party but each party, however, shall bear its own evidence, witness and legal counsel fees. (c) It is agreed that the arbitration shall take place in London, Forest Ontario and that such arbitration shall be held for the purpose of hearing such evidence and representations as either the Initiating Party or Responding Party may present at a time and place in LondonForest, Ontario to be agreed upon at the time by the parties or, failing such agreement, by the arbitrators. Furthermore, the party in whose favour the arbitration decision is rendered shall be entitled to specific performance to ensure that such decision is properly carried out.