Common use of Option to Refer Disputes to Arbitration Clause in Contracts

Option to Refer Disputes to Arbitration. Notwithstanding the provisions of Clause 23.1 above (New York or Hungarian Courts), (a) in the event that the Facility Agent deems it appropriate to assert its rights relating to this Note, or (b) at the option of either the Issuer or the Noteholder in the event the Facility Agent has not asserted its rights related hereto or at any time after the Senior Obligations shall have been paid in full, such Person may, in its sole discretion assert such rights in an arbitration proceeding under the UNCITRAL Arbitration Rules as more particularly outlined in the Securities Purchase Agreement which is incorporated herein by reference in its entirety.

Option to Refer Disputes to Arbitration. Notwithstanding the provisions of Clause 23.1 above (New York or Hungarian Courts), (a) in the event that the Facility Agent deems it appropriate to assert its rights relating to this Note, or (b) at the option of either the Issuer or the Noteholder in the event the Facility Agent has not asserted its rights related hereto or at any time after the Senior Obligations shall have been paid in full, such Person may, in its sole discretion assert such rights in an arbitration proceeding under the UNCITRAL Arbitration Rules as more particularly outlined in the Securities Purchase Agreement which is incorporated herein by reference in its entirety.