Common use of Fast Track Clause in Contracts

Fast Track. In the event of any dispute related to ACLA's rights to suspend payments under Section 6.4(b), then either Party shall have the right to issue a Dispute Notice as provided under Section 11.8(a) above identifying the nature of such dispute and that such Party believes in good faith that such dispute should be decided pursuant to this Section 11.8(b); provided, however, that any dispute related to the infringement, validity or claim construction of any Patents shall be heard by a court of competent jurisdiction in the country where such right exists. The Parties shall agree upon and appoint one (1) arbitrator within twenty (20) days after the notice of arbitration is received by all Parties and, failing such agreement, any Party may apply under the applicable rules of the AAA for the appointment of an arbitrator and the selection of an arbitrator under such rules of the AAA shall be final and binding on the Parties. Such arbitrator shall have appropriate experience in the biopharmaceutical industry and be independent of all the Parties. Within thirty (30) days after such arbitrator is identified and retained in writing, each Party shall submit to such arbitrator and the other Party a written proposal for resolving such dispute. The arbitrator shall select the proposal of one Party without alteration or modification, which proposal shall be deemed the judgment and award with respect to such dispute. The arbitrator shall limit discovery as reasonably practicable to complete the arbitration as soon as practicable.