Common use of JURISDICTION AND ARBITRATION Clause in Contracts

JURISDICTION AND ARBITRATION. (a) Any dispute, controversy or claim arising out of, relating to or in connection with this Agreement, including, without limitation, any dispute regarding the validity or termination of this Agreement, or the performance or breach hereof, shall be finally settled by arbitration administered by the American Arbitration Association (“AAA”), in accordance with its Commercial Arbitration Rules in effect at the time of the arbitration. The place of arbitration shall be Fort Worth, Texas and the proceedings shall be conducted in the English language. The arbitration shall be conducted by three arbitrators. Each arbitrator shall be a person with significant experience in the financial services industry or representing persons in the financial services industry. Each of the General Partner, on the one hand, and the other parties who are parties to such arbitration and who hold a majority of the Units held by all such parties to the arbitration as of the Effective Date and not Transferred (other than Transfers to Permitted Transferees), on the other hand, shall nominate one arbitrator within 15 days after delivery of a request for arbitration in writing by any of the parties. In the event that any of the parties to the arbitration fail to nominate an arbitrator as and within such time period provided in the preceding sentence, upon request of either of such parties, such arbitrator shall instead be appointed by the AAA within 15 days of receiving such request. The two arbitrators appointed in accordance with the above provisions shall nominate the third arbitrator within 15 days of their appointment. If the first two appointed arbitrators fail to nominate a third arbitrator, then, upon request of the parties to the arbitration, the third arbitrator shall be appointed by the AAA within 30 days of receiving such request. The third arbitrator shall serve as Chairman of the arbitral tribunal. The arbitrators shall endeavor to render a final award within 90 days of submission of a request for arbitration. Failure to adhere to this time limit shall not be a basis for challenging the award. The award rendered by the arbitrators shall be final and binding on the parties thereto and judgment on such award may be entered in any court of competent jurisdiction. All costs and expenses incurred by the parties in connection with any arbitration hereunder shall be borne by the party against whom the arbitrators’ award is rendered, and such party shall promptly reimburse the party in whose favor the arbitrators’ award is rendered for any of such costs and expenses incurred by such party. (b) By agreeing to arbitration, the parties do not intend to deprive any court with jurisdiction of its ability to issue a preliminary injunction, attachment or other form of provisional remedy in aid of the arbitration, and a request for such provisional remedies by a party to a court shall not be deemed a waiver of this agreement to arbitrate. In addition to the authority conferred upon the arbitrators by the rules specified above, the arbitrators shall also have the authority to grant provisional remedies, including injunctive relief. (c) Except as may be required by Applicable Law or court order, the parties agree to maintain confidentiality as to all aspects of any arbitration arising out of, relating to or in connection with this Agreement, including any such arbitration’s existence and results, except that nothing herein shall prevent a party from disclosing information regarding such arbitration for purposes of enforcing the award or this arbitration clause, or in any court proceeding requesting the issuance of provisional remedies in accordance with Section 11.06(b). The parties further agree to obtain the arbitrators’ agreement to preserve the confidentiality of the arbitration. (d) Without limiting the foregoing, each party agrees that service of process on such party as provided in Section 11.04 shall be deemed effective service of process on such party.

JURISDICTION AND ARBITRATION. (a) Any dispute12.5.1 Subject to the provisions of Clause 12.5.2 below, controversy or claim arising out of, relating each of the Parties hereby submits to the non-exclusive jurisdiction of the courts of Bangalore insofar as it relates to any Party seeking to obtain any action/relief from or in connection with this Agreement, including, without limitation, any dispute regarding the validity or termination of this Agreement, or the performance or breach hereof, shall be finally settled by arbitration administered by the American Arbitration Association (“AAA”), in accordance with its Commercial Arbitration Rules in effect at the time of the arbitration. The place of arbitration shall be Fort Worth, Texas and the proceedings shall be conducted in the English language. The arbitration shall be conducted by three arbitrators. Each arbitrator shall be a person with significant experience in the financial services industry or representing persons in the financial services industry. Each of the General Partner, on the one hand, and the other parties who are parties to such arbitration and who hold a majority of the Units held by all such parties to the arbitration as of the Effective Date and not Transferred (other than Transfers to Permitted Transferees), on the other hand, shall nominate one arbitrator within 15 days after delivery of a request for arbitration in writing by any of the parties. In the event that any of the parties to the arbitration fail to nominate an arbitrator as and within such time period provided in the preceding sentence, upon request of either of such parties, such arbitrator shall instead be appointed by the AAA within 15 days of receiving such request. The two arbitrators appointed in accordance with the above provisions shall nominate the third arbitrator within 15 days of their appointment. If the first two appointed arbitrators fail to nominate a third arbitrator, then, upon request of the parties to the arbitration, the third arbitrator shall be appointed by the AAA within 30 days of receiving such request. The third arbitrator shall serve as Chairman of the arbitral tribunal. The arbitrators shall endeavor to render a final award within 90 days of submission of a request for arbitration. Failure to adhere to this time limit shall not be a basis for challenging the award. The award rendered by the arbitrators shall be final and binding on the parties thereto and judgment on such award may be entered in any court of competent jurisdiction. All costs and expenses incurred by the parties in connection with any arbitration hereunder shall be borne by the party against whom the arbitrators’ award is rendered, and such party shall promptly reimburse the party in whose favor the arbitrators’ award is rendered for any of such costs and expenses incurred by such party. (b) By agreeing to arbitration12.5.2 If any dispute, controversy or claim among the parties do not intend to deprive any court with jurisdiction Parties arises out of its ability to issue a preliminary injunction, attachment or other form of provisional remedy in aid of the arbitration, and a request for such provisional remedies by a party to a court shall not be deemed a waiver of this agreement to arbitrate. In addition to the authority conferred upon the arbitrators by the rules specified above, the arbitrators shall also have the authority to grant provisional remedies, including injunctive relief. (c) Except as may be required by Applicable Law or court order, the parties agree to maintain confidentiality as to all aspects of any arbitration arising out of, relating to or in connection with this Agreement, including any the breach, termination or invalidity hereof (a “Dispute”), the Parties shall use all reasonable endeavours to negotiate with a view to resolving the Dispute amicably. If a Party gives the other Parties notice that a Dispute has arisen (“Dispute Notice”) and the Parties are unable to so resolve the Dispute amicably within 45 (forty five) days of the date of service of the Dispute Notice (or such arbitration’s existence longer period as the Parties may mutually agree in writing prior thereto), then the Dispute shall be referred to and resultsfinally resolved by arbitration pursuant to the rules of the Singapore International Arbitration Centre for the time being in force, except that nothing herein which rules are deemed to be incorporated by reference in this Clause 12.5.2. 12.5.3 The tribunal shall prevent consist of 3 (three) arbitrators where the claimant shall appoint one arbitrator and the respondent shall appoint the second arbitrator, within a party period of 30 (thirty) days from disclosing information regarding such the date of the Dispute Notice being referred to arbitration for purposes and the two arbitrators so appointed shall jointly appoint the third arbitrator who shall act as the chairperson of enforcing the award or this arbitration clausetribunal within 30 (thirty) days the last of the 2 arbitrators being appointed. Where the parties to the Dispute have failed to so appoint their respective arbitrators within the stipulated time period, or in any court proceeding requesting the issuance of provisional remedies arbitrator shall be appointed in accordance with Section 11.06(b)the rules of Singapore International Arbitration Centre. The parties further agree arbitral award shall be in writing, and shall be final and binding on the Parties and the Parties waive irrevocably any rights to obtain any form of appeal, review or recourse to any state or other judicial authority, insofar as such waiver may validly be made. The venue and the arbitrators’ agreement to preserve the confidentiality seat of arbitration shall be Singapore. The language of the arbitrationarbitration shall be English. (d) Without limiting 12.5.4 The Parties shall bear their own legal and other costs and expenses necessary to the foregoingDispute, each party agrees that service which has been submitted to arbitration in accordance with Clause 12.5.2 above, without prejudice to the arbitrator’s right to award costs or require any Party to the arbitration to pay the costs and expenses of process on such party as provided in Section 11.04 another Party thereto. 12.5.5 Any arbitration proceeding hereunder shall be deemed effective service conducted on a confidential basis. 12.5.6 Parties agree that Sections 9, 27, 36 and 37 of process on such partythe (Indian) Arbitration and Conciliation Act, 1996 shall apply.