Common use of Consolidation of arbitrations Clause in Contracts

Consolidation of arbitrations. (a) The following shall apply to any disputes arising out of or in connection with this Agreement and out of or in connection with any other Murabaha Finance Document in respect of which a request for Arbitration has been delivered (or, where impossible, effectively notified) to all other parties to the arbitration. In relation to any such disputes if, in the absolute discretion of the first arbitral tribunal to be appointed in any of the disputes, they are so closely connected that it is expedient for them to be resolved in the same proceedings, that arbitral tribunal shall have the power to order that the proceedings to resolve that dispute shall be consolidated with those to resolve any of the other disputes, provided that no date for the final hearing of the first arbitration has been fixed. If that arbitral tribunal so orders, the parties to each dispute which is a subject of its order shall be treated as having consented to that dispute being finally decided: (i) by the arbitral tribunal that ordered the consolidation unless the LCIA decides that that arbitral tribunal would not be suitable or impartial; and (ii) in accordance with the procedure, at the seat (or legal place) and in the language specified in the relevant Murabaha Finance Document under which the arbitral tribunal that ordered the consolidation was appointed, save as otherwise agreed by all parties to the consolidated proceedings or, in the absence of any such agreement, ordered by the arbitral tribunal in the consolidated proceedings. (b) Any dispute which is subject to a contractual option to litigate shall only be capable of consolidation pursuant to this paragraph (a) if: (i) exercise of the option to which the dispute is subject is no longer permitted pursuant to the terms upon which the option was granted; or (ii) the right of the option-holder to exercise the option has otherwise been validly waived. (c) Paragraph (a) above shall apply even where powers to consolidate proceedings exist under any applicable arbitration rules (including those of an arbitral institution) and, in such circumstances, the provisions of paragraph (a) above shall apply in addition to those powers.

Consolidation of arbitrations. (a) The following shall apply to any Where disputes arising arise out of or in connection with this Agreement and out of or in connection with any other Murabaha Finance Transaction Document in respect of which a request for Arbitration has been delivered (or, where impossible, effectively notified) to all other parties to the arbitration. In relation to any such disputes ifwhich, in the absolute discretion of the first arbitral tribunal to be appointed in any of the disputes, they are so closely connected that it is expedient for them to be resolved in the same proceedings, that arbitral tribunal shall have the power to order that the proceedings to resolve that dispute shall be consolidated with those to resolve any of the other disputesdisputes (whether or not proceedings to resolve those other disputes have yet been instituted), provided that no date for the final hearing of the first arbitration has been fixed. If that arbitral tribunal so orders, the parties to each dispute which is a the subject of its order shall be treated as having consented to that dispute being finally decided: (i) by the arbitral tribunal that ordered the consolidation unless the LCIA HKIAC decides that that arbitral tribunal would not be suitable or impartial; and (ii) in accordance with the procedure, at the seat (or legal place) and in the language specified in the relevant Murabaha Finance Transaction Document under which the arbitral tribunal that ordered the consolidation was appointed, save as otherwise agreed by all parties to the consolidated proceedings or, in the absence of any such agreement, ordered by the arbitral tribunal in the consolidated proceedings. (b) Any dispute which is subject to a contractual option to litigate shall only be capable of consolidation pursuant to this paragraph (aClause 12.3(a) if: (i) exercise of the option to which the dispute is subject is no longer permitted pursuant to the terms upon which the option was granted; or (ii) the right of the option-holder to exercise the option has otherwise been validly waived. (c) Paragraph (a) above shall apply even where powers to consolidate proceedings exist under any applicable arbitration rules (including those of an arbitral institution) and, in such circumstances, the provisions of paragraph (aclause 12.3(a) above shall apply in addition to those powers.