Common use of Arbitrator Qualifications Clause in Contracts

Arbitrator Qualifications. Unless Propco determines to not proceed with the exercise of the Call Right, any dispute, including regarding the terms and conditions of the Purchase Price, whether the exercise of the Call Right would be an Impermissible Transaction, the terms of the Property Lease (including the Property Lease Rent), or the terms of any other documents or issues with respect to the Property or the Call Right shall be submitted to and determined by an arbitration panel comprised of three members (the “Arbitration Panel”). No more than one panel member may be with the same firm, and no panel member may have an economic interest in the outcome of the arbitration. In addition, each panel member shall have (i) at least five years of experience as an arbitrator and at least one year of experience in a profession that directly relates to the ownership, operation, financing or leasing of gaming or other hospitality facilities similar to the Property or (ii) each panel member shall have at least one year of experience as an arbitrator and at least five years of experience in a profession that directly relates to the ownership, operation, financing or leasing of gaming or other hospitality facilities similar to the Property; provided, however, if the dispute is regarding an issue with respect to Gaming Laws or involving the Gaming Authorities then each panel member shall have at least five years in a profession that directly relates to the ownership, operation, financing or leasing of gaming facilities similar to the Property.