Common use of CONSULTATION AND ARBITRATION Clause in Contracts

CONSULTATION AND ARBITRATION. ‌ (a) TPDC and the Contractor shall periodically meet to discuss the conduct of the operations envisaged under this Agreement and shall make every effort to settle amicably any problem arising therefrom. (b) If any dispute or difference in relation to or in connection with or arising out of any of the terms and conditions of this Agreement should arise the same shall be resolved by negotiations between the parties. In the event of no agreement being reached, either party shall, except in the case of a dispute or difference as provided in sub-Article 8 (b) (v), 12(b) and 12(d), have the right to have such dispute or difference settled through arbitration as provided for herein below. (c) Any unresolved dispute or difference aforesaid shall be finally settled by arbitration under the Rules of the Convention for the Settlement of Investment Disputes between States and Nationals of other States of 16 March 1965, and to the extent required by the said Convention, the parties hereto will, in that event, consent to the jurisdiction of the Centre. It is further agreed that although ABC Oil Company (as an Investor) is a Company established under the laws of Tanzania it is controlled by nationals of [ ] and shall be treated as a national of that State for the purposes of the said convention.

CONSULTATION AND ARBITRATION. ‌ (a) TPDC T.P.D.C. and the Contractor Company shall periodically meet to discuss the conduct of the operations envisaged under this Agreement and shall make every effort to settle amicably any problem arising therefrom. (b) If any dispute or difference in relation to or in connection with or arising out of any of the terms and conditions of this Agreement should arise the same shall be resolved by negotiations between the parties. In the event of no agreement being reached, either party shall, shall except in the case of a dispute or difference as provided in sub-Article 8 (barticle 7(c) (vii), 12(b10(b) and 12(d10(d), have the right to have such dispute or difference settled through arbitration as provided for herein below. (c) Any unresolved dispute or difference aforesaid shall be finally settled by arbitration under the Rules of the Convention for the Settlement of Investment Disputes between States and Nationals of other States of 16 March 1965, 1965 and to the extent required by the said Convention, the parties hereto will, in that event, consent to the jurisdiction of the Centre. It is further agreed that although ABC Oil Company (as an Investor) is a Company established under the laws of Tanzania it is controlled by nationals of [ ] and shall be treated as a national of that State for the purposes of the said convention.