Common use of Non-Binding Arbitration Clause in Contracts

Non-Binding Arbitration. Within ten (10) days or as soon as ----------------------- reasonably feasible after mediation is completed, any unresolved controversy or claim arising out of or relating to this Agreement, or breach thereof, shall be referred to non-binding arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules. The arbitration shall be conducted as swiftly as is reasonably possible under the circumstances. The arbitration shall be conducted before one neutral arbitrator to be selected in accordance with the Commercial Rules of the American Arbitration Association and shall proceed under the Expedited Procedures of said Rules, irrespective of the amount in dispute. The arbitration shall be held in Ventura County, California, unless Seller and Purchaser mutually agree upon another place. In its award, the arbitral authority shall fix and apportion the costs of arbitration. Except as provided in Section 26.3 below, no lawsuit shall be filed prior to the entry of a written award by the arbitral authority. The award of the arbitral authority shall be non-binding upon Seller and Purchaser. However, if after forty-five (45) days from the date of the award, no party files a separate lawsuit in a court of competent jurisdiction to resolve the dispute, controversy or claim, the award will become final and non- appealable and the award may be enforced by any court having jurisdiction over the party against which the award has been rendered or where assets of the party against which the award has been rendered can be located.

Non-Binding Arbitration. Within ten (10) days or as soon as ----------------------- reasonably feasible after mediation is completed, any unresolved controversy or claim arising out of or relating to this Agreement, or breach thereof, shall be referred to non-binding nonbinding arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules. The arbitration shall be conducted as swiftly as is reasonably possible under the circumstances. The arbitration shall be conducted before one neutral arbitrator to be selected in accordance with the Commercial Rules of the American Arbitration Association and shall proceed under the Expedited Procedures of said Rules, irrespective of the amount in dispute. The arbitration shall be held in Ventura County, California, unless Seller and Purchaser mutually agree upon another place. In its award, the arbitral authority shall fix and apportion the costs of arbitration. Except as provided in Section 26.3 31.3 below, no lawsuit shall be filed prior to the entry of a written award by the arbitral authority. The award of the arbitral authority shall be non-binding upon Seller and Purchaser. However, if after forty-five (45) days from the date of the award, no party files a separate lawsuit in a court of competent jurisdiction to resolve the dispute, controversy or claim, the award will become final and non- appealable and the award may be enforced by any court having jurisdiction over the party against which the award has been rendered or where assets of the party against which the award has been rendered can be located.