Common use of Applicable Law and Arbitration Clause in Contracts

Applicable Law and Arbitration. (a) This Agreement shall be governed by, and interpreted under, the laws of Florida, United States, without application of rules on conflicts of laws. (b) Disputes between the Parties shall be resolved as provided by this Section 9.10. Any Party shall give the other Party written notice of any dispute under this or in connection with this Agreement. The Parties shall attempt to resolve such dispute promptly by negotiation among the chief executive officers of the Parties and his/her advisors and executive officers of the BDI Group and Dyadic, as applicable. Within thirty (30) days after delivery of the notice, the Party(ies) receiving the notice shall submit to the other a written response. The notice and response shall include: (A) a statement of each Party's position and a summary of arguments supporting that position; and (B) in the case of any member of the BDI Group or Dyadic, the name and title of the executive officer of such Party who will represent such Party and, in the case of any Party, the name and title of any other person who will accompany such Party during the negotiations. Within thirty (30) days after delivery of the disputing Party's notice, the Parties shall meet at a mutually acceptable time and place, and thereafter as often as they deem reasonably necessary, to attempt to resolve the dispute. (c) If any dispute has not been resolved by the Parties in accordance with Section 9.10(b) within forty-five (45) days after the disputing Party's request notice, or if the Parties fail to meet within thirty (30) days after such request notice, then each of the Parties agrees that such dispute shall be finally and exclusively settled without appeal by arbitration in New York City, New York, administered by the American Arbitration Association ("AAA") under its Commercial Arbitration Rules in effect as of the date of the request for arbitration, which rules are deemed to be incorporated into this Section 9 .10(c) provided, however, that in the event of any conflict between such rules and the other provisions of this Agreement, such other provisions of this Agreement shall control. The arbitration shall be conducted before a single arbitrator. The decision of the arbitrator shall be in writing, shall set forth the facts found by the arbitrator to exist, his/her decision and the basis for that decision and shall be final and binding upon the Parties and not subject to appeal. Judgement upon any award rendered by the arbitrator may be entered in any court having jurisdiction thereof, including any court having jurisdiction over any of the Parties or their assets. Each Party shall bear its own costs and expenses in connection with the arbitration, including reasonable attorneys' fees, disbursements, arbitration expense, arbitrators' fees and the administrative fee of the AAA.

Applicable Law and Arbitration. (ai) This Agreement shall be governed by, and interpreted under, the laws of Florida, United StatesUSA, without application of rules on conflicts of laws. (bii) Disputes between the Parties shall be resolved as provided by this Section 9.1014.10. Any Party shall give the other Party written notice of any dispute under this or in connection with this Agreement. The Parties shall attempt to resolve such dispute promptly by negotiation among the chief executive officers of the Parties and his/her advisors and executive officers of the BDI Group and Dyadic, as applicable. Within thirty (30) days after delivery of the notice, the Party(ies) receiving the notice shall submit to the other a written response. The notice and response shall include: (A) a statement of each Party's ’s position and a summary of arguments supporting that position; and (B) in the case of any member of the BDI Group or Dyadic, the name and title of the executive officer of such Party who will represent such Party and, in the case of any Party, the name and title of any other person who will accompany such Party during the negotiations. Within thirty (30) days after delivery of the disputing Party's ’s notice, the Parties shall meet at a mutually acceptable time and place, and thereafter as often as they deem reasonably necessary, to attempt to resolve the dispute. (ciii) If any dispute has not been resolved by the Parties in accordance with Section 9.10(b14.10(ii) within forty-five (45) days after the disputing Party's ’s request notice, or if the Parties fail to meet within thirty (30) days after such request notice, then each of the Parties agrees that such dispute shall be finally and exclusively settled without appeal by arbitration in New York City, New York, administered by the American Arbitration Association ("“AAA"”) under its Commercial Arbitration Rules in effect as of the date of the request for arbitration, which rules are deemed to be incorporated into this Section 9 .10(c14.10(iii) provided, however, that in the event of any conflict between such rules and the other provisions of this Agreement, such other provisions of this Agreement shall control. The arbitration shall be conducted before a single arbitrator. The decision of the arbitrator shall be in writing, shall set forth the facts found by the arbitrator to exist, his/her decision and the basis for that decision and shall be final and binding upon the Parties and not subject to appeal. Judgement Judgment upon any award rendered by the arbitrator may be entered in any court having jurisdiction thereof, including any court having jurisdiction over any of the Parties or their assets. Each Party shall bear its own costs and expenses in connection with the arbitration, including reasonable attorneys' ’ fees, disbursements, arbitration expense, arbitrators' ’ fees and the administrative fee of the AAA.

Applicable Law and Arbitration. (a) This Agreement shall be governed by, and interpreted under, the laws of Florida, United StatesUSA, without application of rules on conflicts of laws. (b) Disputes between the Parties shall be resolved as provided by this Section 9.1011.10. Any Party shall give the other Party written notice of any dispute under this or in connection with this Agreement. The Parties shall attempt to resolve such dispute promptly by negotiation among the chief executive officers of the Parties and his/her advisors and executive officers of the BDI Group and Dyadic, as applicable. Within thirty (30) days after delivery of the notice, the Party(ies) receiving the notice shall submit to the other a written response. The notice and response shall include: (A) a statement of each Party's ’s position and a summary of arguments supporting that position; and (B) in the case of any member of the BDI Group or Dyadic, the name and title of the executive officer of such Party who will represent such Party and, in the case of any Party, the name and title of any other person who will accompany such Party during the negotiations. Within thirty (30) days after delivery of the disputing Party's ’s notice, the Parties shall meet at a mutually acceptable time and place, and thereafter as often as they deem reasonably necessary, to attempt to resolve the dispute. (c) If any dispute has not been resolved by the Parties in accordance with Section 9.10(b11.10(b) within forty-five (45) days after the disputing Party's ’s request notice, or if the Parties fail to meet within thirty (30) days after such request notice, then each of the Parties agrees that such dispute shall be finally and exclusively settled without appeal by arbitration in New York City, New York, administered by the American Arbitration Association ("“AAA"”) under its Commercial Arbitration Rules in effect as of the date of the request for arbitration, which rules are deemed to be incorporated into this Section 9 .10(c11.10(c) provided, however, that in the event of any conflict between such rules and the other provisions of this Agreement, such other provisions of this Agreement shall control. The arbitration shall be conducted before a single arbitrator. The decision of the arbitrator shall be in writing, shall set forth the facts found by the arbitrator to exist, his/her decision and the basis for that decision and shall be final and binding upon the Parties and not subject to appeal. Judgement Judgment upon any award rendered by the arbitrator may be entered in any court having jurisdiction thereof, including any court having jurisdiction over any of the Parties or their assets. Each Party shall bear its own costs and expenses in connection with the arbitration, including reasonable attorneys' ’ fees, disbursements, arbitration expense, ; arbitrators' ’ fees and the administrative fee of the AAA.

Applicable Law and Arbitration. (a) This 16.1 The construction, validity and performance of this Agreement shall be governed by, by and interpreted under, construed in accordance with the laws of Florida, United States, without application of rules on conflicts of lawsEngland and Wales. (b) Disputes between the Parties 16.2 A Dispute shall be resolved as provided resolved, if possible, by this Section 9.10negotiation. Any Party shall give the other Party written A notice of any dispute under this or in connection with this Agreement. The Parties the existence of a Dispute shall attempt to resolve such dispute promptly be given by negotiation among the chief executive officers of the Parties and his/her advisors and executive officers of the BDI Group and Dyadic, as applicable. Within thirty (30) days after delivery of the notice, the Party(ies) receiving the notice shall submit to the other a written response. The notice and response shall include: (A) a statement of each Party's position and a summary of arguments supporting that position; and (B) in the case of any member of the BDI Group or Dyadic, the name and title of the executive officer of such Party who will represent such Party and, in the case of any Party, the name and title of any other person who will accompany such Party during the negotiations. Within thirty (30) days after delivery of the disputing Party's notice, the Parties shall meet at a mutually acceptable time and place, and thereafter as often as they deem reasonably necessary, to attempt to resolve the dispute. (c) If any dispute has not been resolved by the Parties in accordance with Section 9.10(b) within forty-five (45) days after the disputing Party's request notice, or if provisions of clause 13. In the Parties fail to meet event that no agreement is reached within thirty (30) days after the date when either Party first notifies the other that a Dispute exists, or such request noticelonger period that is specifically provided for elsewhere in this Agreement, then each either Party shall have the right to give a notice requesting that such Dispute be determined by arbitration as provided for in clause 16.3. Save for the referral of any Dispute to an expert as expressly provided for in this Agreement or as otherwise agreed in writing by the Parties, arbitration shall be the exclusive method of determining a Dispute under this Agreement. 16.3 The following provisions shall apply with respect to any arbitration conducted under this Agreement: (a) all Disputes referred to arbitration shall be finally settled under the Rules of the London Court of International Arbitration in existence on the Execution Date (the “LCIA Rules”), except as the LCIA Rules may be modified by the provisions of this clause; (b) the place of arbitration shall be London, England. The arbitral proceedings shall be conducted in the English language. The English version of this Agreement signed by the Parties shall be used in arbitral proceedings and as the exclusive basis for determining the agreement of the Parties agrees that with respect to any matter considered in such dispute shall be finally and exclusively settled without appeal proceedings; (c) an award by arbitration in New York City, New York, administered by the American Arbitration Association ("AAA") under its Commercial Arbitration Rules in effect as of the date of the request for arbitration, which rules are deemed to be incorporated into this Section 9 .10(c) provided, however, that in the event of any conflict between such rules and the other provisions of this Agreement, such other provisions of this Agreement shall control. The arbitration shall be conducted before a single arbitrator. The decision of the an arbitrator shall be in writing, shall set forth the facts found by the arbitrator to exist, his/her decision and the basis for that decision and or arbitrators shall be final and binding upon on all Parties and subject only to appeal under Sections 67 and 68 of the (English) Arbitration Xxx 0000 (the “Act”); (d) the arbitration shall be conducted by a sole arbitrator nominated by agreement between the Parties; provided that, if the Parties are unable to agree on a nominee for sole arbitrator within thirty (30) days from the date of request for arbitration, then the London Court of International Arbitration shall appoint the sole arbitrator in accordance with the LCIA Rules; (e) insofar as practicable, the Parties shall continue to implement the terms of this Agreement notwithstanding the initiation of arbitral proceedings and any pending Dispute; (f) the provisions set out in this clause 16.3 shall continue after the termination of this Agreement where notice of the existence of a Dispute was given under clause 16.2 prior to termination; (g) notwithstanding the provisions of clause 16.1, the agreement to arbitrate set forth in this clause 16.3 shall be governed by and construed in accordance with the laws of England. The Parties hereby submit to the non-exclusive jurisdiction of the Courts of England having jurisdiction for the purpose of this clause 16.3 only; (h) the non-mandatory provisions of the Act are hereby excluded save to the extent to which this clause 16.3 refers to them. This provision shall not subject prevent the Parties from reaching any subsequent agreement to appeal. Judgement upon apply any of the non-mandatory provisions of such Act in the event of a failure or in aid of the procedures under the LCIA Rules. 16.4 Any determination or award rendered by the arbitrator in an arbitration conducted under clause 16.3: (a) shall be implemented in accordance with its terms; (b) may be entered as a judgement by any court of competent jurisdiction; and (c) may not be challenged in any court having jurisdiction thereofcourt, including any court having jurisdiction over any either at the place of arbitration or elsewhere, except on grounds of fraud or miscarriage of justice concerning the actions of the Parties arbitral tribunal or their assets. Each Party a member thereof. 16.5 This clause 16 shall bear its own costs and expenses in connection with the arbitration, including reasonable attorneys' fees, disbursements, arbitration expense, arbitrators' fees and the administrative fee survive termination of the AAAthis Agreement.