Common use of Arbitration; Settlement of Disputes Clause in Contracts

Arbitration; Settlement of Disputes. (a) Any dispute, controversy, claim or cause of action (each, a “Dispute”) brought by any party to the Deposit Agreement or Owner, Beneficial Owner or holder of a Receipt against the Company solely to enforce or interpret this Deposit Agreement shall be referred to and finally resolved by arbitration in accordance with the Rules of the London Court of International Arbitration (“LCIA Rules”), which rules are deemed to be incorporated by reference into this Section 7.6, and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. For the sake of clarity, any Dispute that in whole or in part arises from or seeks to enforce or interpret any rights granted to or held by holders of Shares or other Deposited Securities under Russian law or the Charter (including, without limitation, in respect of a failure to make any Company-authorized or legally required distribution of cash or property) must be resolved in accordance with the terms of Section 7.6(d) below and any arbitrator or arbitrators appointed under LCIA Rules shall be without authority to resolve any such Dispute. The place of the arbitration shall be London, England, and the language of the arbitration shall be English. Notwithstanding any amendments that may be made to the LCIA Rules hereafter, (i) Disputes relating to the meaning and scope of this Section 7.6(a) shall be finally resolved in accordance with Section 7.6(d), and (ii) there shall be no authority for any claims to be arbitrated on a class action basis; an arbitration can only decide an individual party’s claim and may not consolidate or join the claims of other persons who may have similar claims. The number of arbitrators shall be three, each of whom shall be disinterested in such Dispute and shall not be related in any way to any of the parties to the Disputes and shall be an attorney experienced in international securities transactions. If a Dispute shall involve two parties, each shall appoint one arbitrator, and if there are more than two parties, the parties shall attempt to align themselves in two sides (i.e., claimant and respondent), each of which shall appoint one arbitrator as if there were only two parties to such Dispute. In either case, the third arbitrator who shall become the Chairman of the arbitration tribunal shall be appointed and selected by the two arbitrators appointed as described above. If such alignment and appointment shall have not occurred within twenty (20) calendar days after the initiating party serves the arbitration demand, or if the Chairman shall have not been determined within twenty (20) calendar days after the appointment of the second arbitrator, any arbitrators not appointed shall be appointed by the London Court of International Arbitration. The parties and the London Court of International Arbitration may appoint arbitrators from among the nationals of any country, whether or not a party is a national of that country; provided, however, that the Chairman of the arbitration tribunal may not be a national of the country of which any party to the Dispute is a resident. The arbitrators shall have no authority to award damages not measured by the prevailing party's actual damages, no authority to award consequential, special or punitive damages and may not, in any event, make any ruling, finding or award that does not conform to the terms and conditions of this Deposit Agreement.

Arbitration; Settlement of Disputes. (a) Any dispute, controversy, claim or cause of action (each, a “Dispute”) brought by any party to the Deposit Agreement or Owner, Beneficial Owner or holder of a Receipt hereto against the Company solely arising out of or relating to enforce the Shares or interpret other Deposited Securities, the American Depositary Shares, the Receipts or this Deposit Agreement Agreement, or the breach hereof or thereof, shall be referred to and finally resolved settled by arbitration in accordance with the Rules of the London Court of International Arbitration (“LCIA Rules”)Arbitration, which rules are deemed to be incorporated by reference into this Section 7.6, and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. For the sake of clarity; provided, any Dispute that in whole the event of any third-party litigation to which the Depositary is a party and to which the Company may properly be joined, the Company may be so joined in any court of competent jurisdiction in which such litigation is proceeding; and provided, further, that any such controversy, claim or in part arises from or seeks to enforce or interpret any rights granted cause of action relating to or held by holders based upon the provisions of Shares or other Deposited Securities under Russian law the Federal securities laws of the United States or the Charter (includingrules and regulations thereunder may, without limitationbut need not, be submitted to arbitration as provided in respect of a failure to make any Company-authorized or legally required distribution of cash or property) must be resolved in accordance with the terms of this Section 7.6(d) below and any arbitrator or arbitrators appointed under LCIA Rules shall be without authority to resolve any such Dispute7.6. The place of the arbitration shall be London, England, and the language of the arbitration shall be English. Notwithstanding any amendments that may be made to the LCIA Rules hereafter, (i) Disputes relating to the meaning and scope of this Section 7.6(a) shall be finally resolved in accordance with Section 7.6(d), and (ii) there shall be no authority for any claims to be arbitrated on a class action basis; an arbitration can only decide an individual party’s claim and may not consolidate or join the claims of other persons who may have similar claims. The number of arbitrators shall be three, each of whom shall be disinterested in such Dispute and the dispute or controversy, shall not be related in have no connection with any way to any of the parties to the Disputes party thereto, and shall be an attorney reasonably experienced in international securities transactions. If a Dispute dispute shall involve two parties, each shall appoint one arbitrator, and if there are more than two parties, the parties shall attempt to align themselves in two sides (i.e., claimant and respondent), each of which shall appoint one arbitrator as if there were only two parties to such Dispute. In either case, the third arbitrator who shall become the Chairman of the arbitration tribunal shall be appointed and selected by the two arbitrators appointed as described abovedispute. If such alignment and appointment shall not have not occurred within twenty (20) calendar days after the initiating party serves the arbitration demand, the London Court of International Arbitration shall align the parties named in the arbitration demand into a claimant side and a respondent side and/or appoint one or both of such two arbitrators, as the case may be. The third arbitrator, who shall be the Chairperson of the tribunal, shall be appointed and designated by the two arbitrators nominated by the parties (or appointed on their behalf by the London Court of International Arbitration) or, if the Chairman shall have a Chairperson has not been determined so designated within twenty (20) calendar 20 days after of the appointment of the second such arbitrator, any arbitrators not appointed shall be appointed by the London Court of International Arbitration. The parties and the London Court of International Arbitration may appoint arbitrators from among the nationals of any country, whether or not a party is a national of that country; provided, however, except that the Chairman Chairperson of the arbitration tribunal may panel shall not be a national of the country of which any party to the Dispute is a residentparty. The arbitrators shall have no authority to award punitive or other damages not measured by the prevailing party's actual damages, no authority to award consequential, special or punitive damages and may not, in any event, make any ruling, finding or award that does not conform to the terms and conditions of this Deposit Agreement.

Arbitration; Settlement of Disputes. (a) Any dispute, controversy, claim or claim, cause of action or other dispute (each, a “Dispute”) brought by any party or parties to the Deposit Agreement or Owner, Beneficial Owner or holder of a Receipt against the Company solely arising out of or relating to enforce or interpret this the Deposit Agreement (including any question regarding its existence, validity or termination), the Shares or other Deposited Securities (to the extent permitted by Russian law), any Receipts or any American Depositary Shares shall be referred to and finally resolved settled by arbitration in accordance with the Rules of the London Court of International Arbitration (“LCIA Rules”)Arbitration, which rules are deemed to be incorporated by reference into this Section 7.6the Deposit Agreement, and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. For the sake of clarity; provided, any Dispute that in whole or the event of any third-party litigation to which the Depositary is a party and to which the Company may properly be joined, the Company may be so joined in part arises from or seeks any court of competent jurisdiction in which such litigation is proceeding; and provided, further, that any such Dispute brought by any party to enforce or interpret any rights granted the Deposit Agreement against the Company relating to or held by holders based upon the provisions of Shares or other Deposited Securities under Russian law the Federal securities laws of the United States or the Charter (includingrules and regulations thereunder shall be submitted to arbitration as provided in Section 7.6 of that Agreement if, without limitationbut only if, in respect so elected by the claimant. Each of a failure the parties to make the Deposit Agreement consents to be joined to any Company-authorized or legally required distribution of cash or property) must be resolved arbitration proceeding commenced in accordance with the terms provisions of Section 7.6(d) below and 7.6 of that Agreement at the request of any arbitrator or arbitrators appointed under LCIA Rules shall be without authority party to resolve any such Disputearbitration proceeding. The place of the arbitration shall be London, England, England and the language of the arbitration shall be English. Notwithstanding any amendments that may be made to the LCIA Rules hereafter, (i) Disputes relating to the meaning and scope of this Section 7.6(a) shall be finally resolved in accordance with Section 7.6(d), and (ii) there shall be no authority for any claims to be arbitrated on a class action basis; an arbitration can only decide an individual party’s claim and may not consolidate or join the claims of other persons who may have similar claims. The number of arbitrators shall be three, each of whom shall be disinterested in such Dispute and the dispute or controversy, shall not be related in have no connection with any way to any of the parties to the Disputes party thereto, and shall be an attorney experienced in international securities transactions. If a Dispute Dispute, shall involve two parties, each shall appoint one arbitrator, and if there are more than two parties, the parties shall attempt to align themselves in two sides (i.e., claimant and respondent), each of which shall appoint one arbitrator as if there were only two parties to such Dispute. In either case, the third arbitrator who shall become the Chairman of the arbitration tribunal shall be appointed and selected by the two arbitrators appointed as described above. If such alignment and appointment appointments shall not have not occurred within twenty (20) calendar days after the initiating party serves the arbitration demand, the London Court of International Arbitration shall align the parties named in the arbitration demand into a claimant side and a respondent side and/or appoint one or both of such two arbitrators, as the case may be. The Chairperson of the tribunal shall be designated by the two arbitrators nominated by the parties (or appointed on their behalf by the London Court of International Arbitration) or, if the Chairman shall have a Chairperson has not been determined so designated within twenty (20) calendar 20 days after of the appointment of the second such arbitrator, any arbitrators not appointed shall be appointed by the London Court of International Arbitration. The parties and the London Court of International Arbitration may appoint arbitrators from among the nationals of any country, whether or not a party is a national of that country; provided, however, except that the Chairman Chairperson of the arbitration tribunal may shall not be a national of the country of which any party to the Dispute is a residentparty. The arbitrators shall have no authority to award damages not measured by the prevailing party's actual damages, damages and shall have no authority to award any consequential, special or punitive damages damages, and may not, in any event, make any ruling, finding or award that does not conform to the terms and conditions of this the Deposit Agreement.

Arbitration; Settlement of Disputes. (a) Any disputeNotwithstanding any other provision of this Deposit Agreement, any controversy, claim or cause of action (each, a “Dispute”) brought by any party hereto against the Company arising out of or relating to the Shares or other Deposited Securities, the ADSs, the ADRs or this Deposit Agreement or Ownerthe transactions contemplated hereby, Beneficial Owner may, if the party bringing such controversy, claim or holder cause of a Receipt against action so elects by notice in writing to the Company solely to enforce or interpret this Deposit Agreement shall Company, be referred to to, and finally resolved by by, arbitration in accordance with the Arbitration Rules of the London Court of International Arbitration (“the LCIA Rules”)) in effect on the date of this Agreement, which rules Rules are deemed to be incorporated by reference into this Section 7.6, and judgment paragraph. Judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. For the sake of clarity; provided, any Dispute that in whole the event of any third party litigation to which the Depositary is a party and to which the Company may be properly be joined, the Company may be so joined in any court in which such litigation is proceeding; and provided further, that any such controversy, claim or in part arises from or seeks to enforce or interpret any rights granted cause of action relating to or held by holders based upon the provisions of Shares or other Deposited Securities under Russian law the federal securities laws of the United States or the Charter (includingrules and regulations promulgated thereunder may be submitted to arbitration as provided in this Section 20. Notwithstanding any other provision of this Deposit Agreement, without limitationthe parties hereto agree that the Depositary may in its sole discretion require, in respect by written notice to the relevant party, that any controversy, claim or cause of a failure action brought by any party hereto against the Depositary shall be referred to make any Company-authorized or legally required distribution of cash or property) must be resolved in accordance with and finally settled by an arbitration conducted under the terms set out in this Section 20. In any case where the Depositary exercises its right to arbitrate hereunder, arbitration of Section 7.6(d) below the controversy, claim or cause of action shall be mandatory and any arbitrator pending litigation arising out of or arbitrators appointed under LCIA Rules related to such controversy, claim or cause of action shall be without authority to resolve any such Disputestayed. The place of the arbitration shall be London, England, and the language of the arbitration shall be English. Notwithstanding any amendments that may be made to the LCIA Rules hereafter, (i) Disputes relating to the meaning and scope of this Section 7.6(a) shall be finally resolved in accordance with Section 7.6(d), and (ii) there shall be no authority for any claims to be arbitrated on a class action basis; an arbitration can only decide an individual party’s claim and may not consolidate or join the claims of other persons who may have similar claims. The number of arbitrators shall be three, each of whom shall be disinterested in such Dispute and the dispute or controversy, shall not be related in have no connection with any way to any of the parties to the Disputes party thereto, and shall be an attorney experienced in international securities transactions. If a Dispute dispute, controversy or cause of action shall involve two parties, each shall appoint one arbitrator, and if there are more than two parties, the parties shall attempt to align themselves in two sides (i.e., claimant and respondent), each of which shall appoint one arbitrator as if there were only two parties to such Dispute. In either casedispute, the third arbitrator who shall become the Chairman controversy or cause of the arbitration tribunal shall be appointed and selected by the two arbitrators appointed as described aboveaction. If such alignment and appointment shall have not occurred within twenty (20) calendar days after the initiating party serves the arbitration demand, or if the Chairman shall have not been determined within twenty (20) calendar days after the appointment of the second arbitrator, any arbitrators not appointed shall be appointed by the London Court of International ArbitrationArbitration shall appoint the three arbitrators. The parties and the London Court of International Arbitration may appoint arbitrators from among the nationals of any country, whether or not a party is a national of that country; , provided, however, that the Chairman chairman of the arbitration arbitral tribunal may shall not be a national of have the country of which any party to same nationality as the Dispute Company or the Depositary unless there is a residentexpress written agreement otherwise. The arbitrators shall have no authority to award punitive or other damages not measured by the prevailing party's ’s actual damages, no authority to award consequential, special or punitive damages and may not, in any event, make any ruling, finding or award that does not conform to the terms and conditions of this Agreement. Any controversy, claim or cause of action rising out of or relating to the Shares or other Deposited Securities, the ADSs, the ADRs, or this Deposit Agreement or the transactions contemplated hereby which is not subject to arbitration may be instituted in accordance with Section 19 of this Deposit Agreement.

Arbitration; Settlement of Disputes. (a) Any dispute, controversy, claim or claim, cause of action or other dispute (each, a “"Dispute”") brought by any party to or parties hereto (including, for the Deposit Agreement avoidance of doubt, any former or Owner, current Owners and Beneficial Owner or holder Owners of a Receipt Deposited Securities evidenced by the Receipts issued hereunder) against the Company solely arising out of or relating to enforce or interpret this Deposit Agreement (including any question regarding its existence, validity or termination), the Shares or other Deposited Securities, any American Depositary Shares or any Receipts, and any counterclaims that may be related thereto, shall be referred to to, and finally resolved by by, binding arbitration in accordance with the Rules of the London Court of International Arbitration (the “LCIA RulesLCIA”), which rules are deemed to be incorporated by reference into this Section 7.67.06, and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. For the sake of clarity; provided, any Dispute that in whole or the event of any third-party litigation to which the Depositary is a party and to which the Company may properly be joined, the Company may be so joined by the Depositary in part arises from or seeks to enforce or interpret any rights granted court of competent jurisdiction in which such litigation is proceeding; and provided, further, that any such Dispute brought by any party hereto against the Company relating to or held by holders based upon the provisions of Shares or other Deposited Securities under Russian law the Federal securities laws of the United States or the Charter (including, without limitation, in respect of a failure to make any Company-authorized or legally required distribution of cash or property) must be resolved in accordance with the terms of Section 7.6(d) below rules and any arbitrator or arbitrators appointed under LCIA Rules regulations thereunder shall be without authority submitted to resolve any such Dispute. The place of arbitration as provided in this Section if, but only if, so elected by the arbitration shall be London, England, and the language of the arbitration shall be Englishclaimant. Notwithstanding any amendments that may be made anything contained in this Deposit Agreement to the LCIA Rules hereafter, (i) Disputes relating to the meaning and scope of this Section 7.6(a) shall be finally resolved in accordance with Section 7.6(d), and (ii) there shall be no authority for any claims to be arbitrated on a class action basis; an arbitration can only decide an individual party’s claim and may not consolidate or join the claims of other persons who may have similar claims. The number of arbitrators shall be three, each of whom shall be disinterested in such Dispute and shall not be related in any way to any of the parties to the Disputes and shall be an attorney experienced in international securities transactions. If a Dispute shall involve two parties, each shall appoint one arbitrator, and if there are more than two partiescontrary, the parties hereto agree that the High Court of Justice in England shall attempt have jurisdiction to align themselves hear and determine proceedings related to the enforcement of this arbitration provision and any arbitration award by the arbitrators contemplated in two sides (i.e.this Section 7.06, claimant and respondent)and, for such purposes, each of which shall appoint one arbitrator as if there were only two parties to such Dispute. In either case, the third arbitrator who shall become the Chairman of the arbitration tribunal shall be appointed and selected by the two arbitrators appointed as described above. If such alignment and appointment shall have not occurred within twenty (20) calendar days after the initiating party serves the arbitration demand, or if the Chairman shall have not been determined within twenty (20) calendar days after the appointment of the second arbitrator, any arbitrators not appointed shall be appointed by the London Court of International Arbitration. The parties and the London Court of International Arbitration may appoint arbitrators from among the nationals of any country, whether or not a party is a national of that country; provided, however, that the Chairman of the arbitration tribunal may not be a national of the country of which any party hereto irrevocably submits to the Dispute is a resident. The arbitrators shall have no authority to award damages not measured by the prevailing party's actual damages, no authority to award consequential, special or punitive damages and may not, in any event, make any ruling, finding or award that does not conform to the terms and conditions non-exclusive jurisdiction of this Deposit Agreementsuch courts.

Arbitration; Settlement of Disputes. (a) Any dispute, controversy, claim or claim, cause of action or other dispute (each, a “Dispute”) brought by any party to the Deposit Agreement or Owner, Beneficial Owner or holder of a Receipt parties hereto against the Company solely arising out of or relating to enforce or interpret this Deposit Agreement (including any question regarding its existence, validity or termination), the Shares or other Deposited Securities (to the extent permitted by Russian law), any Receipts or any American Depositary Shares shall be referred to and finally resolved settled by arbitration in accordance with the Rules of the London Court of International Arbitration (“LCIA Rules”)Arbitration, which rules are deemed to be incorporated by reference into this Section 7.6, and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. For the sake of clarity; provided, any Dispute that in whole or the event of any third-party litigation to which the Depositary is a party and to which the Company may properly be joined, the Company may be so joined in part arises from or seeks to enforce or interpret any rights granted court of competent jurisdiction in which such litigation is proceeding; and provided, further, that any such Dispute brought by any party hereto against the Company relating to or held by holders based upon the provisions of Shares or other Deposited Securities under Russian law the Federal securities laws of the United States or the Charter (includingrules and regulations thereunder shall be submitted to arbitration as provided in this Section 7.6 if, without limitationbut only if, in respect so elected by the claimant. Each of a failure the parties to make this Deposit Agreement consents to be joined to any Company-authorized or legally required distribution of cash or property) must be resolved arbitration proceeding commenced in accordance with the terms provisions of this Section 7.6(d) below and 7.6 at the request of any arbitrator or arbitrators appointed under LCIA Rules shall be without authority party to resolve any such Disputearbitration proceeding. The place of the arbitration shall be London, England, England and the language of the arbitration shall be English. Notwithstanding any amendments that may be made to the LCIA Rules hereafter, (i) Disputes relating to the meaning and scope of this Section 7.6(a) shall be finally resolved in accordance with Section 7.6(d), and (ii) there shall be no authority for any claims to be arbitrated on a class action basis; an arbitration can only decide an individual party’s claim and may not consolidate or join the claims of other persons who may have similar claims. The number of arbitrators shall be three, each of whom shall be disinterested in such Dispute and the dispute or controversy, shall not be related in have no connection with any way to any of the parties to the Disputes party thereto, and shall be an attorney experienced in international securities transactions. If a Dispute Dispute, shall involve two parties, each shall appoint one arbitrator, and if there are more than two parties, the parties shall attempt to align themselves in two sides (i.e., claimant and respondent), each of which shall appoint one arbitrator as if there were only two parties to such Dispute. In either case, the third arbitrator who shall become the Chairman of the arbitration tribunal shall be appointed and selected by the two arbitrators appointed as described above. If such alignment and appointment appointments shall not have not occurred within twenty (20) calendar days after the initiating party serves the arbitration demand, the London Court of International Arbitration shall align the parties named in the arbitration demand into a claimant side and a respondent side and/or appoint one or both of such two arbitrators, as the case may be. The Chairperson of the tribunal shall be designated by the two arbitrators nominated by the parties (or appointed on their behalf by the London Court of International Arbitration) or, if the Chairman shall have a Chairperson has not been determined so designated within twenty (20) calendar 20 days after of the appointment of the second such arbitrator, any arbitrators not appointed shall be appointed by the London Court of International Arbitration. The parties and the London Court of International Arbitration may appoint arbitrators from among the nationals of any country, whether or not a party is a national of that country; provided, however, except that the Chairman Chairperson of the arbitration tribunal may shall not be a national of the country of which any party to the Dispute is a residentparty. The arbitrators shall have no authority to award damages not measured by the prevailing party's actual damages, damages and shall have no authority to award any consequential, special or punitive damages damages, and may not, in any event, make any ruling, finding or award that does not conform to the terms and conditions of this Deposit Agreement.

Arbitration; Settlement of Disputes. (a) Any dispute, controversy, claim or cause of action (each, a “Dispute”) brought by any party to the Deposit Agreement or Owner, Beneficial Owner or holder of a Receipt against the Company solely to enforce or interpret this Deposit Agreement shall be referred to and finally resolved by arbitration in accordance with the Rules of the London Court of International Arbitration (“LCIA Rules”), which rules are deemed to be incorporated by reference into this Section 7.67.06, and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof. For the sake of clarity, any Dispute that in whole or in part arises from or seeks to enforce or interpret any rights granted to or held by holders of Shares or other Deposited Securities under Russian law or the Charter (including, without limitation, in respect of a failure to make any Company-authorized or legally required distribution of cash or property) must be resolved in accordance with the terms of Section 7.6(d7.06(d) below and any arbitrator or arbitrators appointed under LCIA Rules shall be without authority to resolve any such Dispute. The place of the arbitration shall be London, England, and the language of the arbitration shall be English. Notwithstanding any amendments that may be made to the LCIA Rules hereafter, (i) Disputes relating to the meaning and scope of this Section 7.6(a7.06(a) shall be finally resolved in accordance with Section 7.6(d7.06(d), and (ii) there shall be no authority for any claims to be arbitrated on a class action basis; an arbitration can only decide an individual party’s claim and may not consolidate or join the claims of other persons who may have similar claims. The number of arbitrators shall be three, each of whom shall be disinterested in such Dispute and shall not be related in any way to any of the parties to the Disputes and shall be an attorney experienced in international securities transactions. If a Dispute shall involve two parties, each shall appoint one arbitrator, and if there are more than two parties, the parties shall attempt to align themselves in two sides (i.e., claimant and respondent), each of which shall appoint one arbitrator as if there were only two parties to such Dispute. In either case, the third arbitrator who shall become the Chairman of the arbitration tribunal shall be appointed and selected by the two arbitrators appointed as described above. If such alignment and appointment shall have not occurred within twenty (20) calendar days after the initiating party serves the arbitration demand, or if the Chairman shall have not been determined within twenty (20) calendar days after the appointment of the second arbitrator, any arbitrators not appointed shall be appointed by the London Court of International Arbitration. The parties and the London Court of International Arbitration may appoint arbitrators from among the nationals of any country, whether or not a party is a national of that country; provided, however, that the Chairman of the arbitration tribunal may not be a national of the country of which any party to the Dispute is a resident. The arbitrators shall have no authority to award damages not measured by the prevailing party's actual damages, no authority to award consequential, special or punitive damages and may not, in any event, make any ruling, finding or award that does not conform to the terms and conditions of this Deposit Agreement.