Notification of Decision. The arbitrators shall make their decision known to both parties as quickly as possible by delivering written notice of their decision to both parties. The parties shall agree in writing to comply with the proposal selected by the arbitration panel within five (5) days of receipt of notice of such selection. The decision of the arbitrators shall be final and binding on the parties, and specific performance may be ordered by any court of competent jurisdiction.
Appears in 3 contracts
Samples: Collaboration Agreement (Martek Biosciences Corp), Collaboration Agreement (Martek Biosciences Corp), Joint Venture Agreement (Ariad Pharmaceuticals Inc)
Notification of Decision. The arbitrators arbitrator shall make their its decision known to both parties Parties as quickly promptly as possible by delivering written notice of their decision to both partiesParties. The parties Parties shall agree in writing to comply with the proposal Proposed Terms selected by the arbitration panel arbitrator within five (5) [***] days of receipt of notice of such selectionwritten decision, which agreement may be made pursuant to an amendment to this Agreement. The decision of the arbitrators arbitrator shall be final and binding on the partiesParties, and specific performance may be ordered by any court of competent jurisdiction.
Appears in 3 contracts
Samples: License and Collaboration Agreement (Pieris Pharmaceuticals, Inc.), License and Collaboration Agreement (Pieris Pharmaceuticals, Inc.), License and Collaboration Agreement (Pieris Pharmaceuticals, Inc.)
