Common use of Method to Initiate Clause in Contracts

Method to Initiate. Any party, (the “Requesting Party”) desiring arbitration shall give written notice of such request to the other party, (the “Receiving Party”), such notice to specify the matter to be arbitrated and identifying the name, address and telephone number of the arbitrator selected by the Requesting Party. Within twenty (20) days of such notice, the Receiving Party shall appoint an arbitrator and shall notify the Requesting Party in writing of the name, address, and telephone number of the arbitrator so appointed. Within fifteen (15) days of the appointment of the last such arbitrator, the arbitrators selected by the parties shall appoint an additional arbitrator. If either party shall fail to appoint an arbitrator, or upon the failure of the arbitrators to select an additional arbitrator, a party may petition a court of competent jurisdiction to secure the appointment of such arbitrator, to the end that an arbitration panel consisting of three arbitrators shall be designated.

Appears in 2 contracts

Samples: Supplemental Executive Retirement Benefit Agreement (CCFNB Bancorp Inc), Supplemental Executive Retirement Benefit Agreement (CCFNB Bancorp Inc)

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Method to Initiate. Any party, (the “Requesting Party”) desiring arbitration shall give written notice of such request to the other party, (the “Receiving Party”), such notice to specify the matter to be arbitrated and identifying the name, address and telephone number of the arbitrator selected by the Requesting Party. Within twenty (20) days of such notice, the Receiving Party shall appoint an arbitrator and shall notify the Requesting Party in writing of the name, address, and telephone number of the arbitrator so appointed. Within fifteen (15) days of the appointment of the last such arbitrator, the arbitrators selected by the parties shall appoint an additional arbitrator. , If either party shall fail fall to appoint an arbitrator, or upon the failure of the arbitrators to select an additional arbitrator, a party may petition a court of competent jurisdiction to secure the appointment of such arbitrator, to the end that an arbitration panel consisting of three arbitrators shall be designated.

Appears in 1 contract

Samples: Supplemental Executive Retirement Benefit Agreement (CCFNB Bancorp Inc)

Method to Initiate. Any party, (the “Requesting Party”) desiring arbitration shall give written notice of such request to the other party, (the “Receiving Party”), such notice to specify the matter to be arbitrated and identifying the name, address and telephone number of the arbitrator selected by the Requesting Party. Within twenty (20) days of such notice, the Receiving Party shall appoint an arbitrator and shall notify the Requesting Party in writing of the name, address, and telephone number of the arbitrator so appointed. Within fifteen (15) days of the appointment of the last such arbitrator, the arbitrators selected by the parties shall appoint an additional arbitrator. , If either party shall fail to appoint an arbitrator, or upon the failure of the arbitrators to select an additional arbitrator, a party may petition a court of competent jurisdiction to secure the appointment of such arbitrator, to the end that an arbitration panel consisting of three arbitrators shall be designated.

Appears in 1 contract

Samples: Supplemental Executive Retirement Benefit Agreement (CCFNB Bancorp Inc)

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Method to Initiate. Any party, (the “Requesting Party”) desiring arbitration shall give written notice of such request to the other party, (the “Receiving Party”), such notice to specify the matter to be arbitrated and identifying the name, address and telephone number of the arbitrator selected by the Requesting Party. , Within twenty (20) days of such notice, the Receiving Party shall appoint an arbitrator and shall notify the Requesting Party in In writing of the name, address, and telephone number of the arbitrator so appointed. Within fifteen (15) days of the appointment of the last such arbitrator, the arbitrators selected by the parties shall appoint an additional arbitrator. If either party shall fail to appoint an arbitrator, or upon the failure of the arbitrators to select an additional arbitrator, a party may petition a court of competent jurisdiction Jurisdiction to secure the appointment of such arbitrator, to the end that an arbitration panel consisting of three arbitrators shall be designated.

Appears in 1 contract

Samples: Supplemental Executive Retirement Benefit Agreement (CCFNB Bancorp Inc)

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