Common use of Accelerated Arbitration Clause in Contracts

Accelerated Arbitration. To the extent the arbitration matter involves a dispute that is submitted to arbitration by a Party under either Sections 6.2, 6.4(e), or 6.7(c), or any dispute regarding the proper characterization of a dispute subject to resolution under this Section 13.1(d) as opposed to Section 13.1(c), the following procedures will also apply: (i) For purposes of arbitration under this Section 13.1(d), the arbitrator will be appointed pursuant to Section 13.1(c), but will be a single independent, conflict-free arbitrator with the requisite licensing and pharmaceutical industry experience (such arbitrator, the “Expert”). The Parties may select a different Expert for each dispute depending on the nature of the issues presented and desired expertise. (ii) Each Party will prepare and submit a written summary of such Party’s position and any relevant evidence in support thereof to the Expert within thirty (30) days of the selection of the Expert. Upon receipt of such summaries from both Parties, the Expert will provide copies of the same to the other Party. The Expert will be authorized to solicit briefing or other submissions on particular questions. Within fifteen (15) days of the delivery of such summaries by the Expert, each Party will submit a written rebuttal of the other Party’s summary and may also amend and re-submit its original summary. Oral presentations will not be permitted unless otherwise requested by the Expert. The Expert will make a final decision with respect to the arbitration matter within thirty (30) days following receipt of the last of such rebuttal statements submitted by the Parties and will make a determination by selecting the resolution proposed by one of the Parties that as a whole is the most fair and reasonable to the Parties in light of the totality of the circumstances and will provide the Parties with a written statement setting forth the basis of the determination in connection therewith. For purposes of clarity, the Expert will only have the right to select a resolution proposed by one of the Parties in its entirety and without modification. (iii) The Parties further agree that the decision of the Expert will be the sole, exclusive and binding remedy between them regarding determination of the arbitration matter so presented. Confirmation of, or judgment upon any award rendered pursuant to this Section 13.1(d) may be entered by any court of competent jurisdiction. The Expert will have no authority to award any type of damages excluded under Section 11.4.

Appears in 2 contracts

Samples: Strategic License Agreement (Clovis Oncology, Inc.), Strategic License Agreement (Clovis Oncology, Inc.)

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Accelerated Arbitration. To the extent a Dispute is related to the arbitration matter involves a dispute determination of the specific, single percentage between [***] and [***] that is submitted will be applied (in accordance with the processes set forth in Sections 5.3 and 5.4.2, as applicable) to arbitration by a Party under either Sections 6.2, 6.4(eall future upfront payments (as set forth in Section 5.3), or 6.7(c)development and regulatory milestone payments, or any dispute regarding and sales milestones payments associated with each of the proper characterization of a dispute subject three (3) individual programs to resolution be undertaken under this Section 13.1(d) as opposed to Section 13.1(c)the Work Plan which may be assigned [***], the following procedures will also apply: (ia) For purposes of arbitration under this Section 13.1(d)9.7.11, the arbitrator will be appointed pursuant to Section 13.1(c)9.7.3, but will be a single independent, conflict-free arbitrator with the requisite licensing and pharmaceutical industry experience (such arbitrator, the “Expert”). The Parties may select a different Expert for each dispute Dispute depending on the nature of the issues presented and desired expertise. (iib) Each Party will prepare and submit a written summary of such Party’s position and any relevant evidence [***] in support thereof to the Expert within thirty (30) days [***] of the selection of the Expert. Upon receipt of such summaries from both Parties, the Expert will provide copies of the same to the other Party. The Expert will be authorized to solicit briefing or other submissions on particular questions. Within fifteen (15) days [***] of the delivery of such summaries by the Expert, each Party will submit a written rebuttal of the other Party’s summary and may also amend and re-submit its original summary. Oral presentations will not be permitted unless otherwise requested by the Expert. The Expert will make a final decision with respect to the arbitration matter within thirty (30) days [***] following receipt of the last of such rebuttal statements submitted by the Parties and will make a determination by selecting the resolution proposed [***]. *** Certain information, as identified by one of the Parties that as a whole [***], has been excluded from this agreement because it is the most fair both (i) not material and reasonable to the Parties in light of the totality of the circumstances and will provide the Parties with a written statement setting forth the basis of the determination in connection therewith. For purposes of clarity, the Expert will only have the right to select a resolution proposed by one of the Parties in its entirety and without modification(ii) would be competitively harmful if publicly disclosed. (iiic) The Parties further agree that the decision of the Expert will be the sole, exclusive and binding remedy between them regarding determination of the arbitration matter so presented. Confirmation of, or judgment upon any award rendered pursuant to this Section 13.1(d) 9.7.11 may be entered by any court of competent jurisdiction. The Expert will have no authority to award any type of damages excluded under Section 11.49.8. Each Party shall bear its own costs and expenses and attorneys' fees and an equal share of the arbitrators' fees and any administrative fees of arbitration.

Appears in 2 contracts

Samples: Research Collaboration and Option to License Agreement (4D Pharma PLC), Research Collaboration and Option to License Agreement (4D Pharma PLC)

Accelerated Arbitration. To the extent the arbitration matter involves a dispute that is Dispute submitted to arbitration by a Party under Section 10.2.1 is claimed, by either Party, to involve matters covered by Sections 6.21.45, 6.4(e)1.70, 3.5, 3.6 or 6.7(c), or any dispute regarding the proper characterization of a dispute subject to resolution under this Section 13.1(d) as opposed to Section 13.1(c)4.2.5, the following procedures will also shall apply: (ia) For purposes of arbitration under this Section 13.1(d), the arbitrator will be appointed pursuant to Section 13.1(c), but will be The Parties shall mutually select a single independent, conflict-free arbitrator with the requisite licensing and pharmaceutical industry experience (such arbitrator, the “Expert”), who shall have sufficient scientific background and financial experience to resolve the Dispute. If the Parties are unable to reach agreement on the selection of an Expert within [***] business days after submission to arbitration, then either or both Parties shall immediately request that the AAA select an independent and impartial arbitrator with the requisite scientific background, experience and expertise. The Parties may select a different Expert for each dispute depending on place of arbitration shall be Boston, Massachusetts. Portions of this Exhibit were omitted and have been filed separately with the nature Secretary of the issues presented and desired expertiseCommission pursuant to the Company’s application requesting confidential treatment under Rule 406 of the Securities Act. (iib) Each Party will shall prepare and submit a written summary of such Party’s position and any relevant evidence in support thereof to the Expert within thirty (30) [***] days of the selection of the Expert. Upon receipt of such summaries from both Partieseach Party, the Expert will shall provide copies of the same to the other Party. The Expert will be authorized to solicit briefing or other submissions on particular questions. Within fifteen (15) [***] days of the delivery of such summaries by the Expert, each Party will shall submit a written rebuttal of the other Party’s summary and may also amend and re-submit its original summary. Oral presentations will shall not be permitted unless otherwise requested by the Expert. The Expert will shall make a final decision with respect to the arbitration matter Dispute within thirty (30) [***] days following receipt of the last of such rebuttal statements submitted by the Parties Parties. Each Party shall bear its own costs and will make a determination by selecting expenses and attorneys’ fees, and the resolution proposed by one of the Parties Party that as a whole is the most fair and reasonable to the Parties does not prevail in light of the totality of the circumstances and will provide the Parties with a written statement setting forth the basis of the determination in connection therewith. For purposes of clarity, the Expert will only have the right to select a resolution proposed by one of the Parties in its entirety and without modification. (iii) The Parties further agree that the decision of the Expert will be the sole, exclusive and binding remedy between them regarding determination of the arbitration matter so presented. Confirmation of, or judgment upon proceeding shall pay the Expert’s fees and any award rendered pursuant to this Section 13.1(d) may be entered by any court administrative fees of competent jurisdiction. The Expert will have no authority to award any type of damages excluded under Section 11.4arbitration.

Appears in 1 contract

Samples: Research License and Option Agreement (Nitromed Inc)

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Accelerated Arbitration. To the extent the arbitration matter Arbitration Matter involves a dispute Dispute that is submitted to arbitration by a Party under either Sections 6.25.1.3, 6.4(e)5.6, 5.7, 7.13, the final sentence of Section 15.7.1 or 6.7(c)Exhibit 3.3.2, or any dispute regarding the proper characterization of a dispute subject to resolution under this procedures set forth in Section 13.1(d15.7.2(a) as opposed to Section 13.1(c)shall apply, except that the following procedures will shall also apply: (i) For purposes of arbitration under this Section 13.1(d15.7.2(b), the arbitrator will shall be appointed pursuant to Section 13.1(c15.7.2(a)(i), but will shall be a single independent, conflict-free arbitrator with the requisite licensing and pharmaceutical industry experience (such arbitrator, the “Expert”). The Parties may select a different Expert for each dispute Dispute depending on the nature of the issues presented and desired expertise. (ii) Each Party will shall prepare and submit a written summary of such Party’s position and any relevant evidence in support thereof to the Expert within thirty (30) days of the selection of the Expert. Upon receipt of such summaries from both Parties, the Expert will shall provide copies of the same to the other Party. The Expert will shall be authorized to solicit briefing or other submissions on particular questions. Within fifteen (15) days of the delivery of such summaries by the Expert, each Party will shall submit a written rebuttal of the other Party’s summary and may also amend and re-submit its original summary. Oral presentations will shall not be permitted unless otherwise requested by the Expert. The Expert will shall make a final decision with respect to the arbitration matter Arbitration Matter within thirty (30) days following receipt of the last of such rebuttal statements submitted by the Parties and will shall make a determination by selecting the resolution proposed by one of the Parties that as a whole is the most fair and reasonable to the Parties in light of the totality of the circumstances and will shall provide the Parties with a written statement setting forth the basis of the determination in connection therewith. For purposes of clarity, the Expert will shall only have the right to select a resolution proposed by one of the Parties in its entirety and without modification. (iii) The Parties further agree that the decision of the Expert will arbitrator shall be the sole, exclusive and binding remedy between them regarding determination of the arbitration matter so Arbitration Matters presented. Confirmation of, or judgment upon any award rendered pursuant to this Section 13.1(d) may be entered by any court of competent jurisdiction. The Expert will arbitrator shall have no authority to award punitive or any other type of damages excluded under Section 11.413.7.

Appears in 1 contract

Samples: License Agreement (Clovis Oncology, Inc.)

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