Common use of Arbitration of Final Settlement Clause in Contracts

Arbitration of Final Settlement. If Sellers and Buyer cannot agree upon the Final Settlement Statement, the Midland office of the firm of Xxxxxxx, Xxxxxx and Company is designated to act as an arbitrator and to decide all points of disagreement with respect to the Final Settlement Statement, such decision to be binding on all parties. If such firm is unwilling or unable to serve in such capacity, Sellers and Buyer shall attempt to, in good faith, designate another acceptable regionally-recognized accounting firm as the sole arbitrator under this Section. If the parties are unable to agree upon the designation of a person as substitute arbitrator, then Sellers, on the one hand, or Buyer, on the other hand, or Sellers and Buyer together, may in writing request the Judge of the United States District Court for the Southern District of Texas senior in term of service to appoint the substitute arbitrator. The arbitration shall be conducted under the Texas General Arbitration Act and the rules of the American Arbitration Association to the extent such rules do not conflict with the terms of such Act and the terms hereof. The costs and expenses of the arbitrator, whether the firm designated above, or a third party appointed pursuant to the preceding sentence shall be shared equally by Sellers and Buyer.

Arbitration of Final Settlement. If Sellers Seller and Buyer cannot agree upon the Final Settlement Statement, the Midland office Houston Office of the firm of Xxxxxxx, Xxxxxx and Company Xxxxxxxx & Co. is designated to act as an arbitrator and to decide all points of disagreement with respect to the Final Settlement Statement, such decision to be binding on all both parties. If such firm is unwilling or unable to serve in such capacity, Sellers Seller and Buyer shall attempt to, in good faith, designate another acceptable regionally-recognized accounting firm person as the sole arbitrator under this Section. If the parties are unable to agree upon the designation of a person as substitute arbitrator, then Sellers, on the one hand, Seller or Buyer, on the other hand, or Sellers and Buyer togetherboth of them, may in writing request the Judge of the United States District Court for the Southern District of Texas senior in term of service to appoint the substitute arbitrator. The arbitration shall be conducted under the Texas General Arbitration Act and the rules of the American Arbitration Association to the extent such rules do not conflict with the terms of such Act and the terms hereof. The costs and expenses of the arbitrator, whether the firm designated above, or a third party appointed pursuant to the preceding sentence shall be shared equally by Sellers Seller and Buyer.

Arbitration of Final Settlement. If Sellers and Buyer cannot agree upon the Final Settlement Statement, the Midland office of Seller and Buyer shall appoint an acceptable nationally-recognized accounting firm as the firm of Xxxxxxx, Xxxxxx and Company is designated sole arbitrator under this Section to act as an arbitrator and to decide all points of disagreement with respect to the Final Settlement Statement, such EXHIBIT 2.1 decision to be binding on all both parties. If such firm is unwilling or unable to serve in such capacity, Sellers and Buyer shall attempt to, in good faith, designate another acceptable regionally-recognized accounting firm as the sole arbitrator under this Section. If the parties are unable to agree upon the designation of a person as substitute arbitrator, then Sellers, on the one hand, or Buyer, on the other hand, or Sellers and and/or Buyer together, may in writing request the Judge of the United States District Court for the Southern Northern District of Texas senior in term of service to appoint the substitute arbitrator. The arbitration shall be conducted under the Texas General Arbitration Act and the rules of the American Arbitration Association to the extent such rules do not conflict with the terms of such Act and the terms hereof. The costs and expenses of the arbitrator, whether the firm designated above, or a third party appointed pursuant to the preceding sentence shall be shared equally by Sellers Sellers, on the one hand, and Buyer, on the other hand.

Arbitration of Final Settlement. If Sellers Seller and Buyer cannot agree upon the Final Settlement Statement, the Midland office of Seller and Buyer shall appoint an acceptable nationally-recognized accounting firm as the firm of Xxxxxxx, Xxxxxx and Company is designated sole arbitrator under this Section to act as an arbitrator and to decide all points of disagreement with respect to the Final Settlement Statement, such decision to be binding on all both parties. If such firm is unwilling or unable to serve in such capacity, Sellers and Buyer shall attempt to, in good faith, designate another acceptable regionally-recognized accounting firm as the sole arbitrator under this Section. If the parties are unable to agree upon the designation of a person as substitute arbitrator, then Sellers, on the one hand, Seller or Buyer, on the other hand, or Sellers and Buyer togetherboth of them, may in writing request the Judge of the United States District Court for the Southern District of Texas senior in term of service to appoint the substitute arbitrator. The arbitration shall be conducted under the Texas General Arbitration Act and the rules of the American Arbitration Association to the extent such rules do not conflict with the terms of such Act and the terms hereof. The costs and expenses of the arbitrator, whether the firm designated above, or a third party appointed pursuant to the preceding sentence shall be shared equally by Sellers Seller and Buyer.

Arbitration of Final Settlement. If Sellers Seller and Buyer cannot agree upon the Final Settlement Statement, the Midland office Houston Office of the firm of Xxxxxxx, Xxxxxx and Company Ernst & Young is designated to act as an arbitrator and to decide all points of disagreement with respect to the Final Settlement Statement, such decision to be binding on all both parties. If such firm is unwilling or unable to serve in such capacity, Sellers Seller and Buyer shall attempt to, in good faith, designate another acceptable regionally-recognized accounting firm person as the sole arbitrator under this Section. If the parties are unable to agree upon the designation of a person as substitute arbitrator, then Sellers, on the one hand, Seller or Buyer, on the other hand, or Sellers and Buyer togetherboth of them, may in writing request the Judge of the United States District Court for the Southern District of Texas senior in term of service to appoint the substitute arbitrator. The arbitration shall be conducted under the Texas General Arbitration Act and the rules of the American Arbitration Association to the extent such rules do not conflict with the terms of such Act and the terms hereof. The costs and expenses of the arbitrator, whether the firm designated above, or a third party appointed pursuant to the preceding sentence shall be shared equally by Sellers Seller and Buyer.