Common use of Selection of experts Clause in Contracts

Selection of experts. Each Party shall select an independent Third Party expert who is neutral, disinterested and impartial, is not affiliated with either Party, has expertise and experience relevant to the specific subject matter of the particular Expert Dispute, and does not have a conflict of interest, and two experts so elected shall elect the third expert with qualification as set forth above (the three experts so selected, the “Experts”). Once the Experts have been selected, each Party shall, in accordance with mutually agreed timelines and procedures, but in no event later than fifteen (15) Business Days from the selection of the Experts, provide the Experts and the other Party with a written report setting forth its position with respect to the substance of the Expert Dispute and may submit a revised or updated report and position to the Experts as mutually agreed or as determined by the Experts. If so requested by the Experts, each Party shall make oral submissions to the Experts based on such Party’s written report delivered pursuant to this Section 17.2(c), and each Party shall have the right to be present during any such oral submissions.