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Each of the two arbitrators selected by the parties shall select a third arbitrator and the three arbitrators shall comprise the panel which shall decide the issue. All proceedings under this provision shall be governed by the rules of the American Arbitration Association; provided, however, in any event the proceedings shall be completed and a decision rendered within one hundred and eighty (180) days following the selection of the third arbitrator by the arbitrators selected by LICENSOR and LICENSEE. 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