Common use of Initiation of Arbitration Proceedings Clause in Contracts

Initiation of Arbitration Proceedings. (a) Any dispute, disagreement or claim arising out of or in connection with this Agreement that has not been resolved by the Parties within ten (10) Business Days of the delivery of notice by one Party to the other Party of such dispute, disagreement or claim shall be referred to binding arbitration and shall not be brought before any court of competent jurisdiction other than to obtain temporary injunctive relief under the equitable powers of such court. Subject to Section 1(b) below, such referral to binding arbitration shall be to three (3) qualified arbitrators (the “Arbitrators”). The International Commercial Arbitration Act (Ontario) shall govern such arbitration proceedings in accordance with its terms except to the extent modified in this Schedule “B”. The determination of the Arbitrators shall be final and binding upon the Parties and shall not be subject to appeal or review procedure and the costs of such arbitration shall be as determined by the Arbitrators. The Parties covenant that they shall conduct all aspects of such arbitration having regard at all times to expediting the final resolution of such arbitration. (b) If any Party wishes to have any matter under this Agreement arbitrated in accordance with the provisions of this Agreement, it shall give notice to the other Party hereto specifying particulars of the matter or matters in dispute and proposing the name of one person it wishes to be appointed an Arbitrator. Within ten (10) days after receipt of such notice, the other Party shall give return notice to the first Party proposing the name of a person it wishes to be appointed an Arbitrator. If such return notice is not given by the other Party within such ten (10) day period, it shall be deemed to have accepted the Arbitrator proposed by the first Party as the sole Arbitrator. If such return notice is given within such ten (10) day period proposing another person to be Arbitrator, the two proposed Arbitrators shall meet within ten (10) days of such second notice and select a third person to be the third Arbitrator and act as Chairman of the arbitration panel within five (5) days of such meeting. If said arbitrators shall be unable to agree on the selection of such third Arbitrator, then the arbitrators shall apply to the ADR Institute of Canada, Inc. for a list of arbitrators pursuant to Rule 15 of their National Arbitration Rules. (c) All Arbitrators so nominated or selected shall be qualified by education and who have sufficient industry experience in the subject matter of the dispute. The Arbitrators shall be at arm’s length from both Parties and shall not be past or present officers, directors or employees of either Party or a member of the audit or legal firm or firms who advise either Party, nor shall the Arbitrators be persons who are regularly retained or have been retained in the preceding five (5) years before the matter in question arose by either of the Parties.

Initiation of Arbitration Proceedings. (a) Any If the procedures described above do not result in the resolution of the dispute, disagreement or claim arising out of or in connection with this Agreement that has not been resolved arbitration proceedings shall be commenced by the Parties within ten party desiring arbitration (10the "Initiating Party") giving notice (the "Initiation Notice") to the other party (the "Responding Party"). The Initiation Notice must state the nature of the dispute, the amount involved, if any, and the remedy sought and request arbitration. Within fifteen (15) Business Days following receipt of the delivery Initiating Notice by the Responding Party, the Initiation Party and the Responding Party shall designate one (1) arbitrator (the" Single Arbitrator") acceptable to both of them. If the parties fail to appoint a Single Arbitrator within such period of time, the Initiating Party shall, by notice by one Party to the other Responding Party, appoint an arbitrator. The Responding Party shall, within fifteen (15) Business Days following receipt of such disputenotice, disagreement appoint an arbitrator by notice to the Initiating Party, and the two (2) arbitrators so appointed shall select a third arbitrator acceptable to both arbitrators. If the Responding Party fails to appoint an arbitrator within such a period of time (or claim such additional period of time as the parties may agree) the Initiating Party may appoint an arbitrator on behalf of the Responding Party and is hereby appointed the agent of the Responding Party for such purpose. If the two (2) arbitrators so appointed are unable to agree upon the third arbitrator within fifteen (15) Business Days following the appointment of the arbitrator by the Responding Party either party shall be referred entitled to binding arbitration and shall not be brought before any court of competent jurisdiction other than to obtain temporary injunctive relief make application under the equitable powers of such court. Subject to Section 1(b) below, such referral to binding arbitration shall be to three (3) qualified arbitrators (the “Arbitrators”). The International Commercial Arbitration Act 1991 (Ontario) to a judge of the Ontario Court (General Division) to appoint the third arbitrator and the provisions of the Arbitration Act 1991 (Ontario) shall govern such arbitration proceedings in accordance with its terms except to the extent modified in this Schedule “B”. The determination of the Arbitrators shall be final and binding upon the Parties and shall not be subject to appeal or review procedure and the costs of such arbitration shall be as determined by the Arbitrators. The Parties covenant that they shall conduct all aspects of such arbitration having regard at all times to expediting the final resolution of such arbitrationappointment. (b) If any Party wishes to have any matter under this Agreement arbitrated in accordance with the provisions of this Agreement, it shall give notice to the other Party hereto specifying particulars of the matter or matters in dispute and proposing the name of one person it wishes to be appointed an Arbitrator. Within ten (10) days after receipt of such notice, the other Party shall give return notice to the first Party proposing the name of a person it wishes to be appointed an Arbitrator. If such return notice is not given by the other Party within such ten (10) day period, it shall be deemed to have accepted the Arbitrator proposed by the first Party as the sole Arbitrator. If such return notice is given within such ten (10) day period proposing another person to be Arbitrator, the two proposed Arbitrators shall meet within ten (10) days of such second notice and select a third person to be the third Arbitrator and act as Chairman of the arbitration panel within five (5) days of such meeting. If said arbitrators shall be unable to agree on the selection of such third Arbitrator, then the arbitrators shall apply to the ADR Institute of Canada, Inc. for a list of arbitrators pursuant to Rule 15 of their National Arbitration Rules. (c) All Arbitrators so nominated or selected shall be qualified by education and who have sufficient industry experience in the subject matter of the dispute. The Arbitrators shall be at arm’s length from both Parties and shall not be past or present officers, directors or employees of either Party or a member of the audit or legal firm or firms who advise either Party, nor shall the Arbitrators be persons who are regularly retained or have been retained in the preceding five (5) years before the matter in question arose by either of the Parties.