Common use of Establishment and Operation of Expert Panel Clause in Contracts

Establishment and Operation of Expert Panel. (a) Not later than sixty (60) Days after the Signature Date, each Party shall nominate [number of experts] independent experts comprising: [selected expertise of Expert Panel] (the “Expert Panel”). The Parties will agree on the panel of experts selected from the experts so nominated by the Parties. The Expert Panel shall be constituted and called upon only when required within thirty (30) Days from receipt of a Party of the written notice of the other Party’s decision to refer a matter to the Expert Panel. If the Parties are unable to agree on the composition of the Expert Panel within such thirty (30)-Day period, then either Party may request the International Chamber of Commerce's International Centre for Expertise to appoint the members of the Expert Panel. (b) Decisions of the Expert Panel shall be made by simple majority vote of the members. The members of the Expert Panel shall develop their own internal conduct and procedural rules based upon principles of transparency, impartiality, and efficiency. Proceedings of the Expert Panel shall not be required to follow the procedural laws related to arbitrations. The Expert Panel need not be bound by strict rules of law where it considers the application thereof to particular matters to be inconsistent with the spirit of this Agreement and the underlying intent of the Parties. (c) All costs incurred in connection with the convening of the Expert Panel and the referral and resolution of a Dispute before it, including reasonable compensation of the members of the Expert Panel, shall be equally shared by the Parties.

Establishment and Operation of Expert Panel. (a) Not later than sixty (60) Days after the Signature Date, each Party shall nominate [number of experts] independent experts comprising: [selected expertise of Expert Panel] (the “Expert Panel”). The Parties will agree on the panel of experts selected from the experts so nominated by the Parties. The Expert Panel shall be constituted and called upon only when required within thirty (30) Days from receipt of a Party of the written notice of the other Party’s decision to refer a matter to the Expert Panel. If the Parties are unable to agree on the composition of the Expert Panel within such thirty (30)-Day 30)-­‐Day period, then either Party may request the International Chamber of Commerce's International Centre for Expertise to appoint the members of the Expert Panel. (b) Decisions of the Expert Panel shall be made by simple majority vote of the members. The members of the Expert Panel shall develop their own internal conduct and procedural rules based upon principles of transparency, impartiality, and efficiency. Proceedings of the Expert Panel shall not be required to follow the procedural laws related to arbitrations. The Expert Panel need not be bound by strict rules of law where it considers the application thereof to particular matters to be inconsistent with the spirit of this Agreement and the underlying intent of the Parties. (c) All costs incurred in connection with the convening of the Expert Panel and the referral and resolution of a Dispute before it, including reasonable compensation of the members of the Expert Panel, shall be equally shared by the Parties.

Establishment and Operation of Expert Panel. (a) Not later than sixty (60) Days after the Signature Date, each Party shall nominate [number of experts] six (6) independent experts comprising: [selected expertise of Expert Panel] (i) two (2) water engineers, (ii) two (2) regulatory economists, and (iii) two (2) financial analysts (the “Expert Panel”). The Parties will agree on the panel of experts selected from the experts so nominated by the Parties. The Expert Panel shall be constituted and called upon only when required within thirty (30) Days from receipt of a Party of the written notice of the other Party’s decision to refer a matter to the Expert Panel. If the Parties are unable to agree on the composition of the Expert Panel within such thirty (30)-Day period, then either Party may request the International Chamber of Commerce's International Centre for Expertise to appoint the members of the Expert Panel. (b) Decisions of the Expert Panel shall be made by simple majority vote of the members. The members of the Expert Panel shall develop their own internal conduct and procedural rules based upon principles of transparency, impartiality, and efficiency. Proceedings of the Expert Panel shall not be required to follow the procedural laws related to arbitrations. The Expert Panel need not be bound by strict rules of law where it considers the application thereof to particular matters to be inconsistent with the spirit of this Agreement and the underlying intent of the Parties. (c) All costs incurred in connection with the convening of the Expert Panel and the referral and resolution of a Dispute before it, including reasonable compensation of the members of the Expert Panel, shall be equally shared by the Parties.

Establishment and Operation of Expert Panel. (a) Not later than sixty (60) Days after the Signature Date, each Party shall nominate [number of experts] independent experts comprising: comprising [selected expertise of Expert Panel] (the “Expert Panel”). The Parties will agree on the panel of three (3) experts selected from the experts so persons nominated by the Parties. The Expert Panel shall be constituted and called upon only when required within thirty (30) Days from receipt of a Party of the written notice of the other Party’s decision to refer a matter to the Expert Panel. If the Parties are unable to agree on the composition of the Expert Panel within such thirty (30)-Day period, then either Party may request the International Chamber of Commerce's International Centre for Expertise to appoint the members of the Expert Panelan expert. (b) Decisions of the Expert Panel shall be made by simple majority vote of the members. The members of the Expert Panel shall develop their own internal conduct and procedural rules based upon principles of transparency, impartiality, and efficiency. Proceedings of the Expert Panel shall not be required to follow the procedural laws related to arbitrations. The Expert Panel need not be bound by strict rules of law where it considers the application thereof to particular matters to be inconsistent with the spirit of this Agreement and the underlying intent of the Parties. (c) All costs incurred in connection with the convening of the Expert Panel and the referral and resolution of a Dispute before it, including reasonable compensation of the members of the Expert Panel, shall be equally shared by the Parties.