Submission to Arbitration and Selection of Arbitrators Sample Clauses

Submission to Arbitration and Selection of Arbitrators. Any dispute or controversy arising under this Agreement shall be submitted to arbitration in the following manner. The party demanding arbitration shall give to the other notice in writing of the demand, naming in the notice a person selected as an arbitrator by the party giving the notice; the other party shall within 15 (fifteen) days after receipt of such notice give notice in writing to the party demanding the arbitration, naming a person as arbitrator selected by it. lf the party served with the original notice fails within 15 (fifteen) days to notify the other party of the arbitrator selected by it, the party giving the original notice may, by notice in writing served upon the other, name a second arbitrator. The two arbitrators so selected shall within 15 (fifteen) days after the appointment of the second arbitrator meet and select a third arbitrator. The parties shall instruct the three arbitrators to promptly select a place for a hearing and fix a prompt date on which to hold the hearing. If the two arbitrators so chosen, cannot agree upon the third arbitrator, any Judge of the District Court of the United States for the District of Wyoming may upon request of the arbitrators, or either of them, appoint the third arbitrator. Failing such appointment, the third arbitrator may be appointed by an appropriate proceeding in the district court in and for Lincoln County, Wyoming. If in any pending arbitration under this Agreement, any arbitrator, or successor or substitute arbitrator, should die or for any reason be unable or unwilling to act, his successor shall be appointed as he was appointed, and the successor or substitute arbitrator, as to all matters then pending, shall act the same as if he had been originally appointed as an arbitrator. The award of any two of the three arbitrators so chosen shall be final and finding upon both parties. Neither party shall be entitled to, and the award shall not contain, any incidental or consequential damages or punitive damages based upon a breach of this Agreement. However, this shall not preclude an award to Buyer that includes direct incremental costs associated with the purchasing and handling of any substitute fuel and/or increased gas usage, nor shall it preclude an award of punitive damages to either party based upon tort. Each party shall bear the expense of preparing and presenting its own case and the expenses of its own arbitrator, and shall pay one-half of the expenses of the third arbitrator.
Sample 1
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Submission to Arbitration and Selection of Arbitrators. A Venturer desiring to submit to arbitration any such controversy shall furnish its demand for arbitration in writing to the other Venturer, which demand shall contain a brief statement of the matter if controversy, as well as a list containing the names of three (3) suggested arbitrators from which list, or from other sources, all of the Venturers shall choose one (1) mutually acceptable arbitrator. If the Venturers are unable to agree upon the identity of a single arbitrator, within ten (10) days from receipt of such demand, each Venturer, within a period of five (5) additional days, shall name one (1) arbitrator by 103 written notice to the other Venturer. Within ten (10) days after this notice, the two (2) arbitrators so named shall choose a third arbitrator. If any Venturer fails to name an arbitrator within the specified five (5) day period or if the two arbitrators chosen by the Venturers fail to select a third arbitrator within the ten (10) days period, then either Venturer, on behalf of and on notice to the other Venturer, may request appointment by the American Arbitration Association (or any organization successor thereto) in accordance with its rules then prevailing of the required additional arbitrators. If the American Arbitration Association (or such organization successor thereto) should fail to appoint the necessary arbitrator(s) within fifteen (15) days after such request is made, then either Venturer may apply, on notice to the other Venturer, to a court in Nevada for the appointment of such necessary additional arbitrators. Each of the arbitrator(s) chosen or appointed pursuant to this Section shall be a person having at least ten (10) years experience in the United States in a profession or professions related to the subject matter involved in the dispute and shall not be a past or present officer, director or employee of, or have any material interest in, any Venturer or its Affiliate.
Sample 1
Submission to Arbitration and Selection of Arbitrators. A Member desiring to submit to arbitration any such controversy shall furnish its demand for arbitration in writing to the other Member, which demand shall contain a brief statement of the matter in controversy, the amount involved, if any, and the remedies sought. Within a period of ten (10) business days after service of such demand, each Member shall name one arbitrator by written notice to the other Member. Within twenty (20) days after the appointment of an arbitrator by each party, the two arbitrators shall choose a third arbitrator. If any Member fails to name an arbitrator within the specified 10-day period or if two arbitrators chosen by the Members fail to select within the 20-day period a third arbitrator, then the American Arbitration Association shall designate such necessary additional arbitrators within twenty (20) days of application by either Member. Each of the arbitrators chosen or appointed pursuant to this Section 17.7.2 shall be an attorney or a person having at least ten (10) years' experience in the United States in a calling related to the subject matter involved in the dispute and shall not be a past or present officer, director, or employee of any of the Members or their Affiliates.
Sample 1

Related to Submission to Arbitration and Selection of Arbitrators

  • Submission to Arbitration The Respondent Party may agree to the Claimant Party’s proposal of arbitration by responding in writing within ten (10) Business Days following receipt of such proposal. Within five (5) Business Days following receipt of the Respondent Party’s agreement to arbitrate, the Claimant Party may submit the Dispute Item to the American Arbitration Association (“AAA”) for arbitration. No Dispute Item may be submitted for arbitration without the consent of both parties.

  • Selection of Arbitrators There shall be three arbitrators. If there are only two parties to the Dispute, each party shall select one arbitrator within 15 days after receipt of a demand for arbitration. Such arbitrators may be affiliated or interested persons of such parties. If there are more than two parties to the Dispute, all claimants, on the one hand, and all respondents, on the other hand, shall each select, by the vote of a majority of the claimants or the respondents, as the case may be, one arbitrator within 15 days after receipt of a demand for arbitration. Such arbitrators may be affiliated or interested persons of the claimants or the respondents, as the case may be. If either a claimant (or all claimants) or a respondent (or all respondents) fail to timely select an arbitrator then the party (or parties) who has selected an arbitrator may request the AAA to provide a list of three proposed arbitrators in accordance with the Rules (each of whom shall be neutral, impartial and unaffiliated with any party) and the party (or parties) that failed to timely appoint an arbitrator shall have ten days from the date the AAA provides such list to select one of the three arbitrators proposed by AAA. If such party (or parties) fail to select such arbitrator by such time, the party (or parties) who have appointed the first arbitrator shall then have ten days to select one of the three arbitrators proposed by AAA to be the second arbitrator; and, if he/they should fail to select such arbitrator by such time, the AAA shall select, within 15 days thereafter, one of the three arbitrators it had proposed as the second arbitrator. The two arbitrators so appointed shall jointly appoint the third and presiding arbitrator (who shall be neutral, impartial and unaffiliated with any party) within fifteen (15) days of the appointment of the second arbitrator. If the third arbitrator has not been appointed within the time limit specified herein, then the AAA shall provide a list of proposed arbitrators in accordance with the Rules, and the arbitrator shall be appointed by the AAA in accordance with a listing, striking and ranking procedure, with each party having a limited number of strikes, excluding strikes for cause.

  • Mediation and Arbitration Any controversy, dispute or claim arising out of or relating to this Agreement or the performance, enforcement, breach, termination or validity thereof, including the determination of the scope of this Agreement to arbitrate, shall first be submitted to non-binding mediation and shall thereafter be determined by final binding arbitration, and not litigation, the agreed venue for mediation and arbitration being in Houston, Texas. The mediation process shall be administered by a mutually acceptable mediator selected in accordance with the Commercial Mediation Rules of the American Arbitration Association (“AAA”). If any dispute remains unresolved between the parties after the mediation process has been completed, either party may then submit any such unresolved dispute to final and binding arbitration pursuant to the Commercial Arbitration rules of AAA, with all matters related to the enforceability of this arbitration agreement and any award rendered pursuant to this agreement to be governed by the Federal Arbitration Act, 9 U.S.C. Section 1-16. The Arbitration Tribunal shall be formed of three (3) arbitrators each of which shall have at least five (5) years’ experience in hotel operation, management, ownership or leasing, one (1) to be appointed by each party and the third (3rd) to be appointed by the American Arbitration Association. The arbitration panel may require and facilitate such discovery as it shall determine is appropriate in the circumstances, taking into account the needs of the parties and the desirability of making discovery expeditious and cost-effective. The arbitration panel shall be empowered to subpoena non-party and party witnesses for deposition and hearing to the full extent provided under the AAA Rules and the Federal Arbitration Act (or the applicable state arbitration statute if the arbitration panel is appointed pursuant to a petition filed in state court). The arbitration panel may also direct the production of documents and other information and the advance identification of witnesses to be called and documents to be admitted. The arbitration panel may issue orders to protect the confidentiality of proprietary information, trade secrets and other sensitive information before it is required to be disclosed in discovery. In addition to monetary damages, or in lieu thereof, the arbitration panel shall have the power to grant all equitable relief (both by way of interim relief and as a part of its final award) as may be granted by any court in the state where the Hotel is located. Monetary damage liability shall be limited to actual damages; the parties hereby waive the right to claim and/or receive punitive damages or exemplary relief. The arbitration panel shall determine whether and to what extent any party is a prevailing party and shall award attorneys’ fees and expenses associated with the arbitration proceeding to the “prevailing party, if any. All proceedings shall be reported by a certified shorthand court reporter and written transcripts of the proceedings shall be prepared and made available to the parties. The fees of the arbitration panel, together with all costs and expenses incurred in conducting the arbitration (but excluding the parties’ respective attorney, witness and related costs and expenses) shall be borne by the party against whom the arbitral award is made and shall be a (the) component of the arbitral award. The arbitration shall take place in Orlando, Florida, and shall be conducted in the English language. The arbitration award shall be final and binding upon the parties hereto and subject to no appeal. Arbitration expenses shall not be an expense in determining House Profit. Judgment upon the award rendered maybe entered into any court having jurisdiction, or applications may be made to such court for an order of enforcement.

  • Mediation and Arbitration of Disputes An Addendum requiring the Mediation and/or the Arbitration of all disputes between the Parties and/or Brokers arising out of this Lease ¨ is x is not attached to this Lease. LESSOR AND LESSEE HAVE CAREFULLY READ AND REVIEWED THIS LEASE AND EACH TERM AND PROVISION CONTAINED HEREIN, AND BY THE EXECUTION OF THIS LEASE SHOW THEIR INFORMED AND VOLUNTARY CONSENT THERETO. THE PARTIES HEREBY AGREE THAT, AT THE TIME THIS LEASE IS EXECUTED, THE TERMS OF THIS LEASE ARE COMMERCIALLY REASONABLE AND EFFECTUATE THE INTENT AND PURPOSE OF LESSOR AND LESSEE WITH RESPECT TO THE PREMISES. ATTENTION: NO REPRESENTATION OR RECOMMENDATION IS MADE BY THE AMERICAN INDUSTRIAL REAL ESTATE ASSOCIATION OR BY ANY BROKER AS TO THE LEGAL SUFFICIENCY, LEGAL EFFECT, OR TAX CONSEQUENCES OF THIS LEASE OR THE TRANSACTION TO WHICH IT RELATES. THE PARTIES ARE URGED TO:

  • GOVERNING LAW; DISPUTES SUBMITTED TO ARBITRATION All disputes arising under this agreement shall be governed by and interpreted in accordance with the laws of the Commonwealth of Massachusetts, without regard to principles of conflict of laws. The parties to this agreement will submit all disputes arising under this agreement to arbitration in Boston, Massachusetts before a single arbitrator of the American Arbitration Association (“AAA”). The arbitrator shall be selected by application of the rules of the AAA, or by mutual agreement of the parties, except that such arbitrator shall be an attorney admitted to practice law in the Commonwealth of Massachusetts. No party to this agreement will challenge the jurisdiction or venue provisions as provided in this section. No party to this agreement will challenge the jurisdiction or venue provisions as provided in this section. Nothing contained herein shall prevent the party from obtaining an injunction.

  • Dispute Resolution and Arbitration The following procedures shall be used in the resolution of disputes:

  • Submission to Dispute Resolution (i) Notwithstanding anything to the contrary in this Warrant, in the case of a dispute relating to the Exercise Price, the Closing Sale Price, the Closing Bid Price, Black Scholes Consideration Value, Event of Default Black Scholes Value, Black Scholes Value or fair market value or the arithmetic calculation of the number of Warrant Shares (as the case may be) (including, without limitation, a dispute relating to the determination of any of the foregoing) (the “Warrant Calculations”), the Company or the Holder (as the case may be) shall submit the dispute to the other party via electronic mail (A) if by the Company, within two (2) Trading Days after the occurrence of the circumstances giving rise to such dispute or (B) if by the Holder, at any time after the Holder learned of the circumstances giving rise to such dispute. If the Holder and the Company are unable to agree upon such determination or calculation within two (2) Trading Days following such initial notice by the Company or the Holder (as the case may be) of such dispute to the Company or the Holder (as the case may be), then the Holder may, at its sole option, submit the dispute to an independent, reputable investment bank or independent, outside accountant selected by the Holder (the “Independent Third Party”), and the Company shall pay all expenses of such Independent Third Party.

  • Initiation of Arbitration Either party may exercise the right to arbitrate by providing the other party with written notice of any and all claims forming the basis of such right in sufficient detail to inform the other party of the substance of such claims. In no event shall the request for arbitration be made after the date when institution of legal or equitable proceedings based on such claims would be barred by the applicable statute of limitations.

  • Notice of Arbitration If a Person asserts that there exists a Dispute, then such Person (the “Disputing Person”) will give each other Person involved in such Dispute a written notice setting forth the nature of the asserted Dispute. If all such Persons do not resolve any such asserted Dispute prior to the 10th business day after such notice is given, then any of them may commence arbitration pursuant to this Paragraph 19 by giving each other Person involved in such Dispute a written notice to that effect (an “Arbitration Notice”), setting forth any matters which are required to be set forth therein in accordance with the AAA Rules.

  • Location of Arbitration The arbitration shall take place in Oklahoma City, Oklahoma, and the arbitrator shall issue any award at the place of arbitration. The arbitrator may conduct hearings and meetings at any other place agreeable to the parties or, upon the motion of a party, determined by the arbitrator as necessary to obtain significant testimony or evidence.

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