Appointment of Arbitral Panel of Three. If an Arbitral Panel of three neutral arbitrators is to conduct the arbitration, each Party shall choose one neutral arbitrator that is chosen from a panel of five proposed arbitrators drawn by the AAA. Each Party shall give the other Party written notice of its selection of one neutral arbitrator within 20 days after its receipt of the Demand for Arbitration. The two arbitrators so selected shall choose the third arbitrator from a panel of five proposed arbitrators drawn by the AAA. If the two arbitrators do not agree on the selection of the third arbitrator within ten days after their receipt of the list of proposed arbitrators, the third arbitrator shall be selected by the Regional Vice President of the AAA from the panel proposed by the AAA. The third arbitrator shall serve as the Chairperson of the Arbitral Panel. If an Arbitral Panel of three conducts the arbitration, all decisions and rulings, as well as any interim or final awards, shall be pursuant to the majority vote of the Arbitral Panel.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Rio Vista Energy Partners Lp), Limited Liability Company Agreement (Rio Vista Energy Partners Lp), Limited Liability Company Agreement (Rio Vista Energy Partners Lp)
Appointment of Arbitral Panel of Three. If an Arbitral Panel of three ------------------------------------------- neutral arbitrators is to conduct the arbitration, each Party shall choose one neutral arbitrator that is chosen from a panel of five proposed arbitrators drawn by the AAA. Each Party shall give the other Party written notice of its selection of one neutral arbitrator within 20 days after its receipt of the Demand for Arbitration. The two arbitrators so selected shall choose the third arbitrator from a panel of five proposed arbitrators drawn by the AAA. If the two arbitrators do not agree on the selection of the third arbitrator within ten days after their receipt of the list of proposed arbitrators, the third arbitrator shall be selected by the Regional Vice President of the AAA from the panel proposed by the AAA. The third arbitrator shall serve as the Chairperson of the Arbitral Panel. If an Arbitral Panel of three conducts the arbitration, all decisions and rulings, as well as any interim or final awards, shall be pursuant to the majority vote of the Arbitral Panel.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Penn Octane Corp)
