Common use of Level III – Binding Arbitration Clause in Contracts

Level III – Binding Arbitration. Within 15 days after either Party requests Binding Arbitration pursuant to 15.2.2.2.2, the Parties shall meet to select an arbitrator. The Parties shall meet and select the arbitrator, by mutually agreed to means, and the arbitrator shall schedule a hearing and render a final and binding decision. The Parties may choose the arbitrator from any of the following options: 15.2.2.3.1 The Parties may each choose five (5) arbitrators from the list of arbitrators provided by the American Arbitration Association. The Parties shall alternate striking names from each of the five (5) proposed arbitrators to determine the presiding arbitrator. The initial striker shall be determined by a coin flip. 15.2.2.3.2 The Parties may each choose five (5) private arbitrators and/or arbitration services. The Parties shall alternate striking names from each of the five (5)

Level III – Binding Arbitration. Within 15 days after either Party requests Binding Arbitration pursuant to 15.2.2.2.2, the Parties shall meet to select an arbitrator. The Parties shall meet and select the arbitrator, by mutually agreed to means, and the arbitrator shall schedule a hearing and render a final and binding decision. The Parties may choose the arbitrator from any of the following options: 15.2.2.3.1 15.2.5.1.1 The Parties may each choose five (5) arbitrators from the list of arbitrators provided by the American Arbitration Association. The Parties shall alternate striking names from each of the five (5) proposed arbitrators to determine the presiding arbitrator. The initial striker shall be determined by a coin flipflip or mutual agreement. 15.2.2.3.2 15.2.5.1.2 The Parties may each choose five (5) private arbitrators and/or arbitration services. The Parties shall alternate striking names from each of the five (5)) proposed arbitrators to determine the presiding arbitrator. The initial striker will be determined by a coin flip or mutual agreement.