Common use of LAW, ARBITRATION AND JURISDICTION Clause in Contracts

LAW, ARBITRATION AND JURISDICTION. This agreement is governed by the provisions of North Carolina law. In the event of any dispute arising out of or in connection with this Agreement or the rights in or to the electronic warehouse receipts, the parties agree to submit to the jurisdiction of any state or federal court in Wake County, North Carolina. The parties agree that all disputes arising out of this contract shall be resolved by final, binding arbitration conducted in Wake County, North Carolina, or any other county or state if agreed to by all parties, conducted by one or three arbitrator(s) selected by mutual agreement. In the event the parties cannot agree on the number or identity of arbitrator(s), the arbitrators will be selected by the Executive Vice President of the National Cotton Council. In the event of multiparty disputes, the same arbitrator(s) may decide one or more related disputes. Since the purpose of this arbitration agreement is to provide for arbitration by persons familiar with the cotton industry, it shall not be grounds for disqualification of either the Executive Vice President or of the arbitrator(s), that they had conducted in the past, or may conduct in the future, business with any parties to the dispute(s). If necessary, in the arbitrator's judgment, the arbitrator(s) may employ counsel to assist him or her, and the reasonable cost of such counsel shall be included in the arbitrator's expenses. The decision of the arbitrator(s) shall be in writing and signed by the arbitrator(s) (or a majority thereof), and shall be final, and judgment upon the arbitrator's award may be entered in any court having jurisdiction thereof. The arbitrator's fees and expenses shall be advanced equally by the parties. The arbitrator(s) may, in the decision, provide for reimbursement from one party to the other for legal fees, and for arbitration fees and expenses advanced.

LAW, ARBITRATION AND JURISDICTION. This agreement Agreement is governed by the provisions of North Carolina Tennessee law. In the event of any dispute arising out of or in connection with this Agreement or the rights in or to the electronic warehouse receipts, the parties agree to submit to the jurisdiction of any state or federal court in Wake Shelby County, North CarolinaTennessee. The parties agree that all disputes arising out of this contract shall be resolved by final, binding arbitration conducted in Wake Shelby County, North Carolina, or any other county or state if agreed to by all partiesTennessee, conducted by one or three arbitrator(s) selected by mutual agreement. In the event the parties cannot agree on the number or identity of arbitrator(s), the arbitrators arbitrator(s) will be selected by the Executive Vice President of the National Cotton CouncilAmerican Peanut Shellers Association. In the event of multiparty disputes, disputes the same arbitrator(s) may decide one or more related disputes. Since the purpose of this arbitration agreement is to provide for arbitration by persons familiar with the cotton peanut industry, it shall not be grounds for disqualification of either the Executive Vice President or of the arbitrator(s), that they had conducted in the past, or may conduct in the future, business with any parties to the dispute(s). If necessary, in the arbitrator's judgment, the arbitrator(s) may employ counsel to assist him or her, and the reasonable cost of such counsel shall be included in the arbitrator's expenses. The decision of the arbitrator(s) shall be in writing and signed by the arbitrator(s) (or a majority thereof), and shall be final, and judgment upon the arbitrator's award may be entered in any court having jurisdiction thereof. The arbitrator's fees and expenses shall be advanced equally by the parties, but if one party refuses to advance its share of the arbitrator's fees and expenses, the other may do so. The arbitrator(s) may, in the decision, provide for reimbursement from one party to the other for legal fees, fees and for arbitration fees and expenses advanced.