Common use of Appraiser Independence Requirements Clause in Contracts

Appraiser Independence Requirements. The Appraiser Independence Requirements effective as of October 15, 2010, as amended and in effect from time to time. Arbitration: Arbitration in accordance with the then governing Arbitration Rules for Commercial Disputes of the American Arbitration Association (“AAA”) and administered by the AAA, which shall be conducted in a place mutually acceptable to the parties to the arbitration. Arbitrator: A retired judge or justice of an Illinois or New York state trial or appellate court, or a retired judge of a United States District Court (which judge or justice is not affiliated with the Seller or the Purchaser and is a member of the American Arbitration Association) or, if no such judge or justice is available to serve as an arbitrator, a person who is not affiliated with the Seller or the Purchaser and who is a member of the American Arbitration Association.