Common use of The Arbitration Proceeding Clause in Contracts

The Arbitration Proceeding. (a) The parties to this Agreement agree that the Arbitration Proceeding shall take place in New York, London or Geneva, the seat of the Arbitration shall be England, the relationship between the parties to this Agreement is commercial in nature, and that any Disputes shall be deemed commercial. The provisions governing the procedure of the Arbitration Proceedings are as set out in Sections 10.6, 10.7 and 10.8 herein may be varied only with the written agreement of each of the parties to the Arbitration Proceedings. (b) The parties to this Agreement agree that the following procedures shall apply to the Arbitration Proceeding: (i) The party that sent the Dispute Notice shall make the necessary arrangements for the taking of a stenographic record of the hearing. (ii) All papers, documents or evidence, whether written or oral, filed with or presented to the Arbitrator shall be deemed by the parties to this Agreement and by the Arbitrator to be confidential information. No party to this Agreement or Arbitrator shall disclose in whole or in part to any other person or entity any confidential information submitted in connection with the Arbitration Proceeding, except to the extent reasonably necessary to assist in the arbitration, or to prepare for the arbitration of the Dispute, or to the extent necessary to enforce an award made by the Arbitrator. (iii) The Arbitration Proceeding shall be conducted in the English language and all documents, exhibits and other evidence shall be translated into English. (iv) There shall be no prehearing discovery of any kind. (v) The parties to the Arbitration Proceeding shall each be permitted to submit a written statement in support of their position no later than five days after the Arbitration Proceeding has commenced. Parties to the Arbitration Proceeding may submit answering statements within three days of the submission of the parties' initial written statements. No further written statements shall be submitted, unless required by the Arbitrator. (vi) The hearing, if necessary, shall occur within fifteen days of the commencement of the Arbitration Proceeding. The parties to the Arbitration Proceeding will encourage the Arbitrator to dispense with holding a hearing. (vii) PwCIL and LuxCo, and any other parties to the Arbitration Proceeding, shall each pay an equal share of the fees and expenses of the Arbitrator and the costs of the Arbitration Proceeding. Each party to the Arbitration Proceeding shall otherwise pay its own costs and attorneys' fees. The Arbitrator's fees shall be an amount that is usual and customary for Arbitrators in arbitrations of this type. (viii) The Arbitrator shall be empowered to decide if he has jurisdiction over the Dispute. (c) The sole substantive issue to be decided by the Arbitrator shall be whether a breach of Section 10.1(a), (b) or (c) has occurred. In the event such a breach is found, the Arbitrator is empowered to enjoin a party from performing any act prohibited or to compel a party to perform any act which will give effect to the obligations set out in Sections 10.1(a), (b) or (c). The Arbitrator shall issue a written explanation of the reasons for the award and a full statement of facts found in reaching the decision. This determination of the Arbitrator shall be rendered no later than the fifth day after the conclusion of the arbitration hearing. (i) In the event that a party to the Arbitration Proceeding seeks an amendment of the award to correct a typographical or transcription error, the party shall do so by sending a notice of the amendment sought in accordance with the notice provision in Section 13.7 within three days after receipt of the award. The Arbitrator shall issue any amendment to the award within three days of receipt of the notice seeking an amendment. (d) In the event the Arbitrator finds a breach of Section 10.1(a), (b) or (c) by a party to this Agreement, the prevailing party may request an award of damages for the breach of Section 10.1(a), (b) or (c) pursuant to the arbitration provisions set forth in Section 13.12. The parties to this Agreement agree that the Arbitrator's decision under Sections 10.6, 10.7 and 10.8 shall be final, binding and conclusive upon the parties to this Agreement, an arbitrator appointed under Section 13.12, and any court or tribunal. An arbitrator appointed under Section 13.12 shall not be empowered to award, whether based in contract, tort or otherwise, any special, indirect, incidental, consequential, punitive, exemplary or other similar types of damages whatsoever, including loss of profits, business interruptions and claims of customers on account of any breach of Section 10.1(a), (b) or (c) found by the Arbitrator. (e) In making his or her determination hereunder, the Arbitrator shall review the terms of the Agreement and Sections 10.1(a), (b) and (c), the usages and customs of the trade in the Territory, what is just and equitable under the circumstances and, any evidence submitted by the parties to the Arbitration Proceedings in accordance with the provisions of this Section 10.8 and the substantive law of this Agreement.

The Arbitration Proceeding. (a) The parties to this Agreement agree that the Arbitration Proceeding shall take place in New York, London or Geneva, the seat of the Arbitration shall be England, the relationship between the parties to this Agreement is commercial in nature, and that any Disputes shall be deemed commercial. The provisions governing the procedure of the Arbitration Proceedings are as set out in Sections 10.6, 10.7 and 10.8 herein may be varied only with the written agreement of each of the parties to the Arbitration Proceedings. (b) The parties to this Agreement agree that the following procedures shall apply to the Arbitration Proceeding: (i) The party that sent the Dispute Notice shall make the necessary arrangements for the taking of a stenographic record of the hearing. (ii) All papers, documents or evidence, whether written or oral, filed with or presented to the Arbitrator shall be deemed by the parties to this Agreement and by the Arbitrator to be confidential information. No party to this Agreement or Arbitrator shall disclose in whole or in part to any other person or entity any confidential information submitted in connection with the Arbitration Proceeding, except to the extent reasonably necessary to assist in the arbitration, or to prepare for the arbitration of the Dispute, or to the extent necessary to enforce an award made by the Arbitrator. (iii) The Arbitration Proceeding shall be conducted in the English language and all documents, exhibits and other evidence shall be translated into English. (iv) There shall be no prehearing discovery of any kind. (v) The parties to the Arbitration Proceeding shall each be permitted to submit a written statement in support of their position no later than five days after the Arbitration Proceeding has commenced. Parties to the Arbitration Proceeding may submit answering statements within three days of the submission of the parties' initial written statements. No further written statements shall be submitted, unless required by the Arbitrator. (vi) The hearing, if necessary, shall occur within fifteen days of the commencement of the Arbitration Proceeding. The parties to the Arbitration Proceeding will encourage the Arbitrator to dispense with holding a hearing. (vii) PwCIL and LuxCoBermudaCo, and any other parties to the Arbitration Proceeding, shall each pay an equal share of the fees and expenses of the Arbitrator and the costs of the Arbitration Proceeding. Each party to the Arbitration Proceeding shall otherwise pay its own costs and attorneys' fees. The Arbitrator's fees shall be an amount that is usual and customary for Arbitrators in arbitrations of this type. (viii) The Arbitrator shall be empowered to decide if he has jurisdiction over the Dispute. (c) The sole substantive issue to be decided by the Arbitrator shall be whether a breach of Section 10.1(a), (b) or (c) has occurred. In the event such a breach is found, the Arbitrator is empowered to enjoin a party from performing any act prohibited or to compel a party to perform any act which will give effect to the obligations set out in Sections 10.1(a), (b) or (c). The Arbitrator shall issue a written explanation of the reasons for the award and a full statement of facts found in reaching the decision. This determination of the Arbitrator shall be rendered no later than the fifth day after the conclusion of the arbitration hearing. (i) In the event that a party to the Arbitration Proceeding seeks an amendment of the award to correct a typographical or transcription error, the party shall do so by sending a notice of the amendment sought in accordance with the notice provision in Section 13.7 within three days after receipt of the award. The Arbitrator shall issue any amendment to the award within three days of receipt of the notice seeking an amendment. (d) In the event the Arbitrator finds a breach of Section 10.1(a), (b) or (c) by a party to this Agreement, the prevailing party may request an award of damages for the breach of Section 10.1(a), (b) or (c) pursuant to the arbitration provisions set forth in Section 13.12. The parties to this Agreement agree that the Arbitrator's decision under Sections 10.6, 10.7 and 10.8 shall be final, binding and conclusive upon the parties to this Agreement, an arbitrator appointed under Section 13.12, and any court or tribunal. An arbitrator appointed under Section 13.12 shall not be empowered to award, whether based in contract, tort or otherwise, any special, indirect, incidental, consequential, punitive, exemplary or other similar types of damages whatsoever, including loss of profits, business interruptions and claims of customers on account of any breach of Section 10.1(a), (b) or (c) found by the Arbitrator. (e) In making his or her determination hereunder, the Arbitrator shall review the terms of the Agreement and Sections 10.1(a), (b) and (c), the usages and customs of the trade in the Territory, what is just and equitable under the circumstances and, any evidence submitted by the parties to the Arbitration Proceedings in accordance with the provisions of this Section 10.8 and the substantive law of this Agreement.