Common use of LAW AND ARBITRATION Clause in Contracts

LAW AND ARBITRATION. This Agreement shall be governed by the laws of England. Any dispute under this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in force. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ (LMAA) Terms current at the time when the arbitration is commenced. Save as after mentioned, the reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party requiring the other party to appoint its arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives notice that it has done so within the 14 calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 18 contracts

Samples: Management Agreement, Floating Rate Management Agreement (Capital Product Partners L.P.), Management and Services Agreement (Diamond S Shipping Inc.)

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LAW AND ARBITRATION. This Agreement shall be governed by the laws of England. Any dispute under this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in force. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ Arbitrators Association’s (LMAA) Terms current at the time when the arbitration is commenced. Save as after mentioned, the reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party requiring the other party to appoint its arbitrator within 14 fourteen (14) calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives notice that it has done so within the 14 fourteen (14) calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 fourteen (14) calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. Nothing herein shall prevent the parties agreeing in writing to vary these provisions to provide for the appointment of a sole arbitrator. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 5 contracts

Samples: Management Agreement (Navios Maritime Containers Inc.), Purchase Agreement (Navios Maritime Holdings Inc.), Management Agreement (Navios Maritime Holdings Inc.)

LAW AND ARBITRATION. 11.1 This Agreement shall be governed by the laws English law and any dispute arising out of England. Any dispute under or in connection with this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then thereof for the time being in force. . 11.2 The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ (LMAA) Terms current at the time when the arbitration is commenced. . 11.3 Save as after mentionedmentioned below, the reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party requiring the other party to appoint its arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives give notice that it has done so within the 14 calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. . 11.4 In cases where neither the claim nor any counterclaim exceeds the sum of US$USD 50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 4 contracts

Samples: Services Agreement (Ocean Rig UDW Inc.), Consultancy Agreement (Ocean Rig UDW Inc.), Global Services Agreement (DryShips Inc.)

LAW AND ARBITRATION. 11.1 This Agreement shall be governed by and construed in accordance with the laws of England. England and shall otherwise be subject to the U.S. Shipping Act of 1984, as amended. 11.2 Any dispute under or difference arising out of or in connection with this Agreement which cannot be amicably resolved shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-re- enactment then in forcethereof save to the extent necessary to give effect to the provisions of this Article 11. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ Arbitration Association (LMAA) Terms current at the time when the arbitration is proceedings are commenced. Save as after mentioned, the . 11.3 The reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party Any Party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment in writing to the other party Party, requiring the other party Party to appoint its own arbitrator within 14 fourteen (14) calendar days of that notice notice, and stating that it will appoint its arbitrator as sole arbitrator unless the other party Party appoints its own arbitrator and gives notice that it has done so within the 14 calendar fourteen (14) days specified. If the other party Party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.fourteen

Appears in 4 contracts

Samples: Vessel Sharing Agreement, Vessel Sharing Agreement, Vessel Sharing Agreement

LAW AND ARBITRATION. (a) This Agreement shall be governed by and construed in all respects in accordance with English law and any dispute arising out of or in connection with the laws of England. Any dispute under this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in force. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ (LMAA) Terms current at the time when the arbitration is commenced. . (b) Save as after mentioned, the reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party requiring the other party to appoint its arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives notice that it has done so within the 14 calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. . (c) In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 ofUS$50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 4 contracts

Samples: Executive Services Agreement (Capital Maritime & Trading Corp.), Executive Services Agreement (Capital Clean Energy Carriers Corp.), Executive Services Agreement (Capital Product Partners L.P.)

LAW AND ARBITRATION. This Agreement shall be governed by the laws of England. Any dispute under this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in force. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ (LMAA) Terms current at the time when the arbitration is commenced. Save as after mentioned, the reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party requiring the other party to appoint its arbitrator within 14 fourteen (14) calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives notice that it has done so within the 14 fourteen (14) calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 fourteen (14) calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 3 contracts

Samples: Management Agreement, Management Agreement (Navios Maritime Acquisition CORP), Management Agreement (Navios Maritime Partners L.P.)

LAW AND ARBITRATION. This Agreement shall be governed by the laws of England. Any dispute under this Agreement shall be referred put to arbitration in London in accordance with England, a jurisdiction to which the Arbitration Act 1996 or any statutory modification or re-enactment then in force. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ (LMAA) Terms current at the time when the arbitration is commencedparties hereby irrevocably submit. Save as after mentioned, the reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party requiring the other party to appoint its arbitrator within 14 fourteen (14) calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives notice that it has done so within the 14 fourteen (14) calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 fourteen (14) calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. Nothing herein shall prevent the parties agreeing in writing to vary these provisions to provide for the appointment of a sole arbitrator. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 3 contracts

Samples: Administrative Services Agreement, Administrative Services Agreement (Navios Maritime Containers Inc.), Administrative Services Agreement (Navios Maritime Midstream Partners LP)

LAW AND ARBITRATION. 11.1 This Agreement shall be governed by the laws English law and any dispute arising out of England. Any dispute under or in connection with this Agreement shall be referred to arbitration in in, and with its seat in, London in accordance with the Arbitration Act 1996 Xxx 0000, or any statutory modification or re-enactment then thereof for the time being in force. The arbitration shall be conducted in accordance with , and under the rules of the London Maritime Arbitrators’ (LMAA) Terms current at the time when the arbitration is commenced. Save as after mentioned, the Arbitrators Association. 11.2 The reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party requiring the other party to appoint its arbitrator within 14 calendar fourteen (14) days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives notice that it has done so within the 14 calendar fourteen (14) days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar fourteen (14) days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 2 contracts

Samples: Merger Agreement (Marathon Acquisition Corp.), Transitional Services Agreement (Global Ship Lease, Inc.)

LAW AND ARBITRATION. 20.1 This Agreement shall be governed by the laws English law and any dispute arising out of England. Any dispute under or in connection with this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 Xxx 0000 and any amendment thereto or any statutory modification or re-enactment then in force. substitution therefor. 20.2 The arbitration shall be conducted in accordance with the London Maritime Arbitrators' (LMAA) Terms current at the time when the arbitration is commenced. . 20.3 Save as after mentionedmentioned below, the reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party requiring the other party to appoint its arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives give notice that it has done so within the 14 calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. . 20.4 In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced. 20.5 Except to the extent provided for in Clauses 10 and 11 no third party shall have the right to enforce any term of this Agreement.

Appears in 2 contracts

Samples: Master Agreement, Master Agreement (Scorpio Bulkers Inc.)

LAW AND ARBITRATION. (a) This Agreement shall be governed by the laws and construed in accordance with English law and any dispute arising out of England. Any dispute under or in connection with this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in forcethereof save to the extent necessary to give effect to the provisions of this Clause. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ Arbitrators Association (LMAA) Terms current at the time when the arbitration is proceedings are commenced. Save as after mentioned, the The reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment in writing to the other party requiring the other party to appoint its own arbitrator within 14 fourteen (14) calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives notice that it has done so within the 14 calendar fourteen (14) days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar fourteen (14) days specified, the party referring the a dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding on both Parties as if he the sole arbitrator had been appointed by agreement. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as the parties may agree) 100,000 the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 2 contracts

Samples: Memorandum of Agreement for Sale and Purchase of Ships (DryShips Inc.), Memorandum of Agreement (Teekay Tankers Ltd.)

LAW AND ARBITRATION. This Agreement shall be governed by the laws of England. Any dispute under this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in force. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ Association (LMAA) Terms current at the time when the arbitration is commenced. Save as after mentioned, the reference shall be to three arbitrators, one to be appointed by each party Party and the third by the two arbitrators so appointed. A party Party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party Party requiring the other party to appoint its arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party Party appoints its own arbitrator and gives notice that it has done so within the 14 calendar days specified. If the other party Party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party Party referring the dispute to arbitration may, without the requirement of any further prior notice to the other partyParty, appoint its arbitrator as sole arbitrator and shall advise the other party Party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. In cases where neither the claim nor any counterclaim exceeds the sum of US$USD 50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 2 contracts

Samples: Termination Agreement (Capital Maritime & Trading Corp.), Termination Agreement (International Seaways, Inc.)

LAW AND ARBITRATION. 20.1 This Agreement shall be governed by the laws and construed in accordance with English law and any dispute arising out of England. Any dispute under or in connection with this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in force. thereof save to the extent necessary to give effect to the provisions of this Clause. 20.2 The arbitration shall be construed and conducted in accordance with the London Maritime Arbitrators’ Arbitrators Association (LMAA) Terms current at the time when the arbitration is proceedings are commenced. Save as after mentioned, The language used for such arbitration shall be English and the arbitration shall be conducted in London. 20.3 The reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment in writing to the other party requiring the other party to appoint its own arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives notice that it has done so within the 14 calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party referring the a dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding on both parties as if he had been appointed by agreement. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as . 20.4 Nothing herein shall prevent the parties may agree) agreeing in writing to vary these provisions to provide for the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commencedappointment of a sole arbitrator.

Appears in 2 contracts

Samples: Ship Management Agreement (Pyxis Tankers Inc.), Commercial Ship Management Agreement (Pyxis Tankers Inc.)

LAW AND ARBITRATION. 11.1 This Agreement shall be governed by and construed in accordance with the laws of England. England and shall otherwise by subject to the U.S. Shipping Act of 1984, as amended. 11.2 Any dispute under or difference arising out of or in connection with this Agreement which cannot be amicably resolved shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in forcethereof save to the extent necessary to give effect to the provisions of this Article 11. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ Arbitration Association (LMAA) Terms current at the time when the arbitration is proceedings are commenced. Save as after mentioned, the . 11.3 The reference shall be to three arbitrators, one to be appointed by with each party Party appointing its own arbitrator and the two so chosen appointing the third by arbitrator who will act as chairman. The decision of a majority of the two arbitrators so appointedPanel shall be binding on both Parties. A party Any Party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment in writing to the other party Party, requiring the other party Party to appoint its own arbitrator within 14 fourteen (14) calendar days of that notice notice, and stating that it will appoint its arbitrator as sole arbitrator unless the other party Party appoints its own arbitrator and gives notice that it has done so within the 14 calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.fourteen

Appears in 2 contracts

Samples: Space Charter Agreement, Space Charter Agreement

LAW AND ARBITRATION. This Agreement shall be governed by the laws and construed in accordance with English law and any dispute arising out of England. Any dispute under in connection with this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in forcereenactment thereof save to the extent necessary to give effect to the provisions of this Clause 10. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ Arbitrators Association (LMAA) Terms current at the time when the arbitration is proceedings are commenced. Save as after mentioned, the The reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party Party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment in writing to the other party Party requiring the other party Party to appoint its own arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party Party appoints its own arbitrator and gives notice that it has done so within the 14 calendar days specified. If the other party Party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party Party referring the a dispute to arbitration may, without the requirement of any further prior notice to the other partyParty, appoint its arbitrator as sole arbitrator and shall advise the other party Party accordingly. The award of a sole arbitrator shall be as binding on both Parties as if he had been appointed by agreement. Nothing herein shall prevent the Parties agreeing in writing to vary these provisions to provide for the appointment of a sole arbitrator. In cases where neither the claim nor any counterclaim exceeds the sum of US$USO 50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 1 contract

Samples: Services Agreement (GoodBulk Ltd.)

LAW AND ARBITRATION. 19.1 This Agreement shall be governed by the laws and construed in accordance with English law and any dispute arising out of England. Any dispute under or in connection with this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in forcethereof save to the extent necessary to give effect to the provisions of this Clause. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ Arbitrators Association (LMAA) Terms current at the time when the arbitration is proceedings are commenced. Save as after mentioned, the The reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment in writing to the other party requiring the other party to appoint its own arbitrator within 14 calendar days 20 Business Days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives notice that it has done so within the 14 calendar days 1420 Business Days specified. If the other party does not appoint its own arbitrator and give notice that it It has done so within the 14 calendar days 20 Business Days specified, the party referring the a dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding on both parties as if he had been appointed by agreement. Nothing herein shall prevent the parties agreeing in writing to vary these provisions to provide for the appointment of a sole arbitrator. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.of

Appears in 1 contract

Samples: Management Agreement (Safe Bulkers, Inc.)

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LAW AND ARBITRATION. 19.1 This Agreement shall be governed by the laws and construed in accordance with English law and any dispute arising out of England. Any dispute under or in connection with this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in forcethereof save to the extent necessary to give effect to the provisions of this Clause. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ Arbitrators Association (LMAA) Terms current at the time when the arbitration is proceedings are commenced. Save as after mentioned, the The reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment in writing to the other party requiring the other party to appoint its own arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives notice that it has done so within the 14 calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party referring the a dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding on both parties as if he had been appointed by agreement. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as Nothing herein shall prevent the parties may agree) from agreeing in writing to vary these provisions to provide for the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.appointment of a sole

Appears in 1 contract

Samples: Ship Management Agreement (Golden Energy Marine Corp.)

LAW AND ARBITRATION. 18.1 This Agreement shall be governed by the laws and construed in accordance with English law and any dispute arising out of England. Any dispute under or in connection with this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in forcethereof save to the extent necessary to give effect to the provisions of this Clause 18. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ Arbitrators Association (LMAA) Terms current at the time when the arbitration is proceedings are commenced. Save as after mentioned, the The reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party Party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment in writing to the other party Party requiring the other party Party to appoint its own arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party Party appoints its own arbitrator and gives notice that it has done so within the 14 calendar days specified. If the other party Party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party Party referring the a dispute to arbitration may, without the requirement of any further prior notice to the other partyParty, appoint its arbitrator as sole arbitrator and shall advise the other party Party accordingly. The award of a sole arbitrator shall be as binding on both Parties as if he had been appointed by agreement. Nothing herein shall prevent the Parties agreeing in writing to vary these provisions to provide for the appointment of a sole arbitrator. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 USD50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 1 contract

Samples: Shipmanagement Agreement (GoodBulk Ltd.)

LAW AND ARBITRATION. This Agreement shall be governed by the laws and construed in accordance with English law and any dispute arising out of England. Any dispute under in connection with this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in forcethereof save to the extent necessary to give effect to the provisions of this Clause 10. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ Arbitrators Association (LMAA) Terms current at the time when the arbitration is proceedings are commenced. Save as after mentioned, the The reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party Party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment in writing to the other party Party requiring the other party Party to appoint its own arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party Party appoints its own arbitrator and gives notice that it has done so within the 14 calendar days specified. If the other party Party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party Party referring the a dispute to arbitration may, without the requirement of any further prior notice to the other partyParty, appoint its arbitrator as sole arbitrator and shall advise the other party Party accordingly. The award of a sole arbitrator shall be as binding on both Parties as if he had been appointed by agreement. Nothing herein shall prevent the Parties agreeing in writing to vary these provisions to provide for the appointment of a sole arbitrator. In cases where neither the claim nor any counterclaim exceeds the sum of US$USD 50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 1 contract

Samples: Services Agreement (GoodBulk Ltd.)

LAW AND ARBITRATION. 11.1 This Agreement shall be governed by the laws English law and any dispute arising out of England. Any dispute under or in connection with this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then reenactment thereof for the time being in force. . 11.2 The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ (LMAA) Terms current at the time when the arbitration is commenced. . 11.3 Save as after mentionedmentioned below, the reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party requiring the other party to appoint its arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives give notice that it has done so within the 14 calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. . 11.4 In cases where neither the claim nor any counterclaim exceeds the sum of US$USD 50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.,

Appears in 1 contract

Samples: Consultancy Agreement (Ocean Rig UDW Inc.)

LAW AND ARBITRATION. (a) This Agreement shall be governed by the laws of England. Any dispute under this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in force. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ (LMAA) Terms current at the time when the arbitration is commenced. . (b) Save as after mentioned, the reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party requiring the other party to appoint its arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives notice that it has done so within the 14 calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. . (c) In cases where neither the no claim nor any or counterclaim exceeds the sum of US$50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 1 contract

Samples: Management Agreement (Crude Carriers Corp.)

LAW AND ARBITRATION. 18.1 This Agreement shall be governed by the laws and construed in accordance with English law and any dispute arising out of England. Any dispute under or in connection with this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in forcereenactment thereof save to the extent necessary to give effect to the provisions of this Clause 18. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ Arbitrators Association (LMAA) Terms current at the time when the arbitration is proceedings are commenced. Save as after mentioned, the The reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party Party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment in writing to the other party Party requiring the other party Party to appoint its own arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party Party appoints its own arbitrator and gives notice that it has done so within the 14 calendar days specified. If the other party Party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party Party referring the a dispute to arbitration may, without the requirement of any further prior notice to the other partyParty, appoint its arbitrator as sole arbitrator and shall advise the other party Party accordingly. The award of a sole arbitrator shall be as binding on both Parties as if he had been appointed by agreement. Nothing herein shall prevent the Parties agreeing in writing to vary these provisions to provide for the appointment of sole arbitrator. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 USD50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 1 contract

Samples: Shipmanagement Agreement (GoodBulk Ltd.)

LAW AND ARBITRATION. 20.1 This Agreement shall be governed by the laws English law and any dispute arising out of England. Any dispute under or in connection with this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 Xxx 0000 and any amendment thereto or any statutory modification or re-enactment then in force. substitution therefor. 20.2 The arbitration shall be conducted in accordance with the London Maritime Arbitrators' (LMAA) Terms current at the time when the arbitration is commenced. . 20.3 Save as after mentionedmentioned below, the reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party requiring the other party to appoint its arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives give notice that it has done so within the 14 calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. . 20.4 In cases where neither the claim nor any counterclaim exceeds the sum of US$US$ 50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced. 20.5 Except to the extent provided for in clauses 10 and 11 no third party shall have the right to enforce any term of this Agreement.

Appears in 1 contract

Samples: Master Agreement (Nordic American Offshore Ltd.)

LAW AND ARBITRATION. This Agreement shall be governed by the laws of England. Any dispute under this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then in I force. The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ Arbitrators Association’s (LMAA) Terms current at the time when the arbitration is commenced. Save as after mentioned, the reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party requiring the other party to appoint its arbitrator within 14 fourteen (14) calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives notice that it has done so within the 14 fourteen (14) calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 fourteen (14) calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. Nothing herein shall prevent the parties agreeing in writing to vary these provisions to provide for the appointment of a sole arbitrator. In cases where neither the claim nor any counterclaim exceeds the sum of US$50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 1 contract

Samples: Administrative Services Agreement (Navios Maritime Holdings Inc.)

LAW AND ARBITRATION. 11.1 This Agreement shall be governed by the laws English law and any dispute arising out of England. Any dispute under or in connection with this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment then reenactment thereof for the time being in force. . 11.2 The arbitration shall be conducted in accordance with the London Maritime Arbitrators’ (LMAA) Terms current at the time when the arbitration is commenced. . 11.3 Save as after mentionedmentioned below, the reference shall be to three arbitrators, one to be appointed by each party and the third by the two arbitrators so appointed. A party wishing to refer a dispute to arbitration shall appoint its arbitrator and send notice of such appointment to the other party requiring the other party to appoint its arbitrator within 14 calendar days of that notice and stating that it will appoint its arbitrator as sole arbitrator unless the other party appoints its own arbitrator and gives give notice that it has done so within the 14 calendar days specified. If the other party does not appoint its own arbitrator and give notice that it has done so within the 14 calendar days specified, the party referring the dispute to arbitration may, without the requirement of any further prior notice to the other party, appoint its arbitrator as sole arbitrator and shall advise the other party accordingly. The award of a sole arbitrator shall be as binding as if he had been appointed by agreement. . 11.4 In cases where neither the claim nor any counterclaim exceeds the sum of US$USD 50,000 (or such other sum as the parties may agree) the arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at the time when the arbitration proceedings are commenced.

Appears in 1 contract

Samples: Global Services Agreement (Ocean Rig UDW Inc.)

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