Disputes over Availability of Cover Borrower Defaults. Any disagreement between the Borrower and the Security Agent over the availability of cover in the international insurance market will be referred to an independent expert appointed with the agreement of the Borrower and the Security Agent, or, if the parties cannot so agree within 20 days of the notice given by the Borrower under the covenant referred to in Clause 22.6 (Changes to Insurance Programme), to a person nominated at the request of either party by the President of the German Association of Insurers, in each case acting as an independent expert. The expert’s decision will be final and binding on the parties hereto. The expert’s fees and disbursements will be borne by the Borrower.
Appears in 4 contracts
Samples: Account Pledge Agreement, Mercer International Inc., Account Pledge Agreement (Mercer International Inc.)
Disputes over Availability of Cover Borrower Defaults. Any disagreement between the Borrower and the Security Agent over the availability of cover in the international insurance market will be referred to an independent expert appointed with the agreement of the Borrower and the Security Agent, or, if the parties cannot so agree within 20 days of the notice given by the Borrower under the covenant referred to in Clause 22.6 19.6 (Changes to Insurance Programme), to a person nominated at the request of either party by the President of the German Association of Insurers, in each case acting as an independent expert. The expert’s decision will be final and binding on the parties hereto. The expert’s fees and disbursements will be borne by the Borrower.
Appears in 2 contracts
Samples: Letter Of (Mercer International Inc.), Mercer International Inc.
Disputes over Availability of Cover Borrower Defaults. Any disagreement between the Borrower and the Security Agent over the availability of cover in the international insurance market will be referred to an independent expert appointed with the agreement of the Borrower and the Security Agent, or, if the parties cannot so agree within 20 days of the notice given by the Borrower under the covenant referred to in Clause 22.6 (Changes to Insurance Programme), to a person nominated at the request of either party by the President of the German Association of Insurers, in each case acting as an independent expert. The expert’s 's decision will be final and binding on the parties hereto. The expert’s fees and disbursements will be borne by the Borrower.the
Appears in 1 contract
Samples: Account Pledge Agreement (Mercer International Inc)
