Common use of Arbitrator Appointment Clause in Contracts

Arbitrator Appointment. The Arbitration Panel shall be selected as set forth in this Section 3(b). Within fifteen (15) Business Days after the expiration of the Discussion Period or other applicable date identified in Section 2 above, Owner shall select and identify to Propco a panel member meeting the criteria of the above paragraph (the “Owner Panel Member”) and Propco shall select and identify to Owner a panel member meeting the criteria of the above paragraph (the “Propco Panel Member”). If a Party fails to timely select its respective panel member, the other Party may notify such Party in writing of such failure, and if such Party fails to select its respective panel member within three (3) Business Days after receipt of such notice, then such other Party may select and identify to such Party such panel member on such Party’s behalf. Within ten (10) Business Days after the selection of the Owner Panel Member and the Propco Panel Member, the Owner Panel Member and the Propco Panel Member shall jointly select a third panel member meeting the criteria of the above paragraph (the “Third Panel Member”). If the Owner Panel Member and the Propco Panel Member fail to timely select the Third Panel Member and such failure continues for more than three (3) Business Days after written notice of such failure is delivered to the Owner Panel Member and Propco Panel Member by either Owner or Propco, then Owner and Propco shall cause the Third Panel Member to be appointed by the managing officer of the American Arbitration Association.

Arbitrator Appointment. The Arbitration Panel shall be selected as set forth in this Section 3(b6(b). Within fifteen (15) Business Days after the expiration of the Discussion Period or other applicable date identified in Section 2 abovethis Agreement, Owner shall select and identify to Propco VICI a panel member meeting the criteria of the above paragraph (the “Owner Panel Member”) and Propco VICI shall select and identify to Owner a panel member meeting the criteria of the above paragraph (the “Propco VICI Panel Member”). If a Party fails to timely select its respective panel member, the other Party may notify such Party in writing of such failure, and if such Party fails to select its respective panel member within three (3) Business Days after receipt of such notice, then such other Party may select and identify to such Party such panel member on such Party’s behalf. Within ten (10) Business Days after the selection of the Owner Panel Member and the Propco VICI Panel Member, the Owner Panel Member and the Propco VICI Panel Member shall jointly select a third panel member meeting the criteria of the above paragraph (the “Third Panel Member”). If the Owner Panel Member and the Propco VICI Panel Member fail to timely select the Third Panel Member and such failure continues for more than three (3) Business Days after written notice of such failure is delivered to the Owner Panel Member and Propco VICI Panel Member by either Owner or PropcoVICI, then Owner and Propco VICI shall cause the Third Panel Member to be appointed by the managing officer of the American Arbitration Association.