Common use of Arbitration; Settlement of Disputes Clause in Contracts

Arbitration; Settlement of Disputes. (a) Any controversy, claim or cause of action brought by any party hereto against the Company arising out of or relating to the Shares or other Deposited Securities, the American Depositary Shares, the Receipts or the Deposit Agreement, or the breach thereof, shall be settled by arbitration in accordance with the International Arbitration Rules of the American Arbitration Association in effect at the time of the arbitration, and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof; provided, however, that in the event of any third-party litigation to which the Depositary is a party and to which the Company may properly be joined, the Company may be so joined in any court in which such litigation is proceeding; and provided, further, that any such controversy, claim or cause of action brought by a party hereto against the Company relating to or based upon the provisions of the Federal securities laws of the United States or the rules and regulations promulgated thereunder shall be submitted to arbitration as provided in Section 7.06 of the Deposit Agreement if, but only if, so elected by the claimant. The place of the arbitration shall be Txx Xxxx xx Xxx Xxxx, Xxxxx xx Xxx Xxxx, Xxxxxx Xxxxxx of America, and the language of the arbitration shall be English. The number of arbitrators shall be three, each of whom shall be disinterested in the dispute or controversy, shall have no connection with any party thereto, and shall be an attorney experienced in international securities transactions. Each party shall appoint one arbitrator and the two arbitrators shall select a third arbitrator who shall serve as chairperson of the tribunal. If a dispute, controversy or cause of action shall involve more than two parties, the parties shall attempt to align themselves in two sides (i.e., claimant(s) and respondent(s)), each of which shall appoint one arbitrator as if there were only two parties to such dispute, controversy or cause of action. If such alignment and appointment shall not have occurred within thirty (30) calendar days after the initiating party serves the arbitration demand, the American Arbitration Association shall appoint the three arbitrators, each of whom shall have the qualifications described above. The parties and the American Arbitration Association may appoint from among the nationals of any country, whether or not a party is a national of that country. The arbitral tribunal shall have no authority to award any consequential, special or punitive damages or other damages not measured by the prevailing party’s actual damages and may not, in any event, make any ruling, finding or award that does not conform to the terms and conditions of the Deposit Agreement. (b) Any controversy, claim or cause of action arising out of or relating to the Shares or other Deposited Securities, the American Depositary Shares, the Receipts or this Deposit Agreement not subject to arbitration under Section 7.06 of the Deposit Agreement shall be litigated in the United States District Court for the Southern District of New York or, alternatively, in the Supreme Court of the State of New York, County of New York, and the Company hereby submits to the personal jurisdiction and venue of the court in which such action or proceeding is brought.

Appears in 1 contract

Samples: Deposit Agreement (Bank of New York / Adr Division)

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Arbitration; Settlement of Disputes. (a) Any controversy, claim or cause of action brought by any party hereto against the Company arising out of or relating to the Shares or other Deposited Securities, the American Depositary SharesADSs, the Receipts ADRs or the this Deposit Agreement, or the breach hereof or thereof, shall be settled by referred to, and finally resolved by, arbitration in accordance with the International Arbitration Rules of the American London Court of International Arbitration Association (the LCIA Rules) in effect at on the time date of the arbitrationthis Agreement, and judgment which Rules are deemed incorporated by reference into this paragraph. Judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof; provided, however, that in the event of any third-third party litigation to which the Depositary is a party and to which the Company may be properly be joined, the Company may be so joined in any court in which such litigation is proceeding; and provided, provided further, that any such controversy, claim or cause of action brought by a party hereto against the Company relating to or based upon the provisions of the Federal federal securities laws of the United States or the rules and regulations promulgated thereunder shall may, but need not, be submitted to arbitration as provided in this Section 7.06 of the Deposit Agreement if, but only if, so elected by the claimant20. The place of the arbitration shall be Txx Xxxx xx Xxx XxxxLondon, Xxxxx xx Xxx Xxxx, Xxxxxx Xxxxxx of AmericaEngland, and the language of the arbitration shall be English. The number of arbitrators shall be three, each of whom shall be disinterested in the dispute or controversy, shall have no connection with any party thereto, and shall be an attorney reasonably experienced in international securities transactions. Each party shall appoint one arbitrator and the two arbitrators shall select a third arbitrator who shall serve as chairperson of the tribunal. If a dispute, controversy or cause of action shall involve more than two parties, the parties shall attempt to align themselves in two sides (i.e., claimant(s) claimant and respondent(s)respondent), each of which shall appoint one arbitrator as if there were only two parties to such dispute, controversy or cause of action. If such alignment and appointment shall have not have occurred within thirty (30) calendar days after the initiating party serves the arbitration demand, the American Arbitration Association shall appoint the three arbitrators, each of whom shall have the qualifications described above. The parties and the American Arbitration Association may appoint from among the nationals of any country, whether or not a party is a national of that country. The arbitral tribunal shall have no authority to award any consequential, special or punitive damages or other damages not measured by the prevailing party’s actual damages and may not, in any event, make any ruling, finding or award that does not conform to the terms and conditions of the Deposit Agreement. (b) Any controversy, claim or cause of action arising out of or relating to the Shares or other Deposited Securities, the American Depositary Shares, the Receipts or this Deposit Agreement not subject to arbitration under Section 7.06 of the Deposit Agreement shall be litigated in the United States District Court for the Southern District of New York or, alternatively, in the Supreme Court of the State of New York, County of New York, and the Company hereby submits to the personal jurisdiction and venue of the court in which such action or proceeding is brought.twenty

Appears in 1 contract

Samples: Deposit Agreement

Arbitration; Settlement of Disputes. (a) Any controversy, claim or cause of action brought by any party hereto against the Company arising out of or relating to the Shares or other Deposited Securities, the American Depositary Shares, the Receipts or the this Deposit Agreement, including any question regarding its existence, validity or termination, or the breach thereof, hereof or thereof (a “Dispute”) shall be settled by arbitration in accordance with the International Arbitration Rules of the American Arbitration Association in effect at the time of the arbitrationAssociation, and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof; provided, however, that in the event of any third-party litigation to which the Depositary is a party and to which the Company may properly be joined, the Company may be so joined in any court in which such litigation is proceeding; and provided, further, provided further that any such controversy, claim or cause of action brought by a party hereto against the Company relating to or based upon the provisions of the Federal securities laws of the United States or the rules and regulations promulgated thereunder shall be submitted to arbitration as provided in this Section 7.06 of the Deposit Agreement if, but only if, if so elected by the claimant. The place of the arbitration shall be Txx Xxx Xxxx xx Xxx Xxxx, Xxxxx xx Xxx Xxxx, Xxxxxx Xxxxxx of America, and the language of the arbitration shall be English. The number of arbitrators shall be three, each of whom shall be disinterested in the dispute or controversy, shall have no connection with any party thereto, and shall be an attorney experienced in international securities transactions. Each party Two of the arbitrators shall appoint one arbitrator be nominated by the respective parties in the notice of arbitration and the two arbitrators shall select a third arbitrator statement of defense, and the third, who shall serve as chairperson be the Chairman of the tribunal. If , shall be nominated by the two party-nominated arbitrators within 30 calendar days of the last of their appointments; provided, however, that if a dispute, controversy or cause of action Dispute shall involve more than two parties, the parties shall attempt to align themselves in two sides (i.e., claimant(s) claimant and respondent(s)respondent), each of which shall appoint one arbitrator as if there were only two parties to such disputeDispute. In the event of agreement on such alignment, controversy or cause the nomination of actionan arbitrator by the claimant side shall be made within 30 calendar days of the commencement of the arbitration and the nomination by the respondent side shall be made within 60 calendar days after the commencement of the arbitration. If such alignment and appointment shall is not have occurred agreed within thirty (30) 20 calendar days after commencement of the initiating party serves the arbitration demandarbitration, the American Arbitration Association shall International Centre for Dispute Resolution shall, at the written request of any party, appoint the three arbitrators, each of whom shall have the qualifications described above. The parties and the American Arbitration Association International Centre for Dispute Resolution may appoint from among the nationals of any country, whether or not a party is a national of that country. The arbitral tribunal shall have no authority to award any consequential, special or punitive damages or other damages not measured by the prevailing party’s actual damages and may not, in any event, make any ruling, finding or award that does not conform to the terms and conditions of the Deposit Agreement. (b) Any controversy, claim or cause Dispute falling within the second exception listed in the first paragraph of action arising out of or relating to the Shares or other Deposited Securities, the American Depositary Shares, the Receipts or this Deposit Agreement Section 7.06(a) and not subject submitted to arbitration under Section 7.06 of the Deposit Agreement that subsection (a) shall be litigated in the United States District Court for Federal or state courts in the Southern District Borough of Manhattan, The City of New York or, alternatively, in the Supreme Court United States of the State of New York, County of New York, and the Company hereby submits to the personal jurisdiction and venue of the court in which such action or proceeding is broughtAmerica.

Appears in 1 contract

Samples: Deposit Agreement (Bank of New York / Adr Division)

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Arbitration; Settlement of Disputes. (a) Any controversy, claim or cause of action brought by any party hereto against the Company arising out of or relating to the Shares or other Deposited Securities, the American Depositary SharesADSs, the Receipts ADRs or the this Deposit Agreement, or the breach hereof or thereof, shall be settled by referred to, and finally resolved by, arbitration in accordance with the International Arbitration Rules of the American London Court of International Arbitration Association (the LCIA Rules) in effect at on the time date of the arbitrationthis Agreement, and judgment which Rules are deemed incorporated by reference into this paragraph. Judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction thereof; provided, however, that in the event of any third-third party litigation to which the Depositary is a party and to which the Company may be properly be joined, the Company may be so joined in any court in which such litigation is proceeding; and provided, provided further, that any such controversy, claim or cause of action brought by a party hereto against the Company relating to or based upon the provisions of the Federal federal securities laws of the United States or the rules and regulations promulgated thereunder shall may, but need not, be submitted to arbitration as provided in this Section 7.06 of the Deposit Agreement if, but only if, so elected by the claimant7.11. The place of the arbitration shall be Txx Xxxx xx Xxx XxxxLondon, Xxxxx xx Xxx Xxxx, Xxxxxx Xxxxxx of AmericaEngland, and the language of the arbitration shall be English. The number of arbitrators shall be three, each of whom shall be disinterested in the dispute or controversy, shall have no connection with any party thereto, and shall be an attorney experienced in international securities transactions. Each party shall appoint one arbitrator and the two arbitrators shall select a third arbitrator who shall serve as chairperson of the tribunal. If a dispute, controversy or cause of action shall involve more than two parties, the parties shall attempt to align themselves in two sides (i.e., claimant(s) claimant and respondent(s)respondent), each of which shall appoint one arbitrator as if there were only two parties to such dispute, controversy or cause of action. If such alignment and appointment shall have not have occurred within thirty twenty (3020) calendar days after the initiating party serves the arbitration demand, the American London Court of International Arbitration Association shall appoint the three arbitrators, each of whom shall have the qualifications described above. The parties and the American London Court of International Arbitration Association may appoint from among the nationals of any country, whether or not a party is a national of that country, provided, however, that the chairman of the arbitral tribunal shall not have the same nationality as the Company or the Depositary unless there is express written agreement otherwise. The arbitral tribunal arbitrators shall have no authority to award any consequential, special or punitive damages or other damages not measured by the prevailing party’s 's actual damages and may not, in any event, make any ruling, finding or award that does not conform to the terms and conditions of the Deposit this Agreement. (b) Any controversy, claim or cause of action arising rising out of or relating to the Shares or other Deposited Securities, the American Depositary SharesADSs, the Receipts ADRs or this Deposit Agreement not subject to arbitration under Section 7.06 of the Deposit Agreement shall be litigated in the United States District Court for federal and state courts in the Southern District Borough of New York or, alternativelyManhattan. (c) The provisions of this Section 7.11 shall survive any termination of this Deposit Agreement, in the Supreme Court of the State of New York, County of New York, and the Company hereby submits to the personal jurisdiction and venue of the court whole or in which such action or proceeding is broughtpart.

Appears in 1 contract

Samples: Deposit Agreement (Yukos Oil Co)

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