Common use of Matters to be Submitted to Arbitration Clause in Contracts

Matters to be Submitted to Arbitration. In the -------------------------------------- case of a dispute with respect to any of the following matters, either party may submit such matter to arbitration which shall be conducted by the Accountants (as hereinafter defined in Subsection 10.02.2): (a) computation of the Management Fees; (b) reimbursements due to Manager under this Agreement; (c) any adjustment in the Minimum Balance under the provisions of Section 4.01(iv); (d) any adjustment in dollar amounts of insurance coverages required to be maintained; (e) any dispute concerning the apportionment of compensation for any taking contemplated under Section 8.01 of this Agreement; and (f) any dispute concerning the approval of an Operating Budget, Capital Budget or FF&E Budget. All disputes concerning the above matters shall be submitted to the Accountants. The decision of the Accountants with respect to any matters submitted to them under this Subsection 10.02.1 shall be binding on both parties hereto. The parties hereby agree and acknowledge that disputes relating to the Group Services, or the allocation or computation of costs or expenses relating thereto, shall not be subject to the terms of this Section 10.02 and may not be submitted to the Accountants for arbitration.

Matters to be Submitted to Arbitration. In the -------------------------------------- case of a dispute with respect to any of the following matters, either party may submit such matter to arbitration which shall be conducted by the Accountants (as hereinafter defined in Subsection 10.02.2): (a) computation of the Management Fees; (b) reimbursements due to Manager under this Agreement; (c) any adjustment in the Minimum Balance under the provisions of Section 4.01(iv); (d) any adjustment in dollar amounts of insurance coverages required to be maintained; (e) any dispute concerning the apportionment of compensation for any taking contemplated under Section 8.01 of this Agreement; and (f) any dispute concerning the approval of an Operating Budget, Capital Budget or FF&E Budget. All disputes concerning the above matters shall be submitted to the Accountants. The decision of the Accountants with respect to any matters submitted to them under this Subsection 10.02.1 shall be binding on both parties hereto. The parties hereby agree and acknowledge that disputes relating to the Group Services, or the allocation or computation of costs or expenses relating thereto, shall not be subject to the terms of this Section 10.02 and may not be submitted to the Accountants for arbitration.