Common use of Release Procedure Clause in Contracts

Release Procedure. Upon the occurrence and continuation of a ----------------- Release Event, MKE will notify the Escrow Agent. The Escrow Materials will be released for use by MKE, subject to the terms and conditions hereof, only after notice of such Release Event from the Escrow Agent to Replay and Replay's failure to declare in writing to the Escrow Agent within [***] that no Release Event has occurred. If Replay makes such written declaration, then the issue of whether a Release Event has occurred and is continuing shall be submitted to arbitration in Santa ▇▇▇▇▇ County, California, under the Commercial Arbitration Rules of the American Arbitration Association by one (1) arbitrator appointed in accordance with said Rules. Judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. The costs of the arbitration, including administrative and arbitrator's fees, shall be shared equally by the parties. Each party shall bear the costs of its own attorneys' fees in connection with such arbitration. [***] = CERTAIN INFORMATION ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.