Common use of Replacement of Arbitrators Clause in Contracts

Replacement of Arbitrators. In the event that one or more of such arbitrators resigns, refuses to act, withdraws, dies or otherwise becomes unable to fulfill the duties imposed upon him, then his place shall be filled by the parties originally naming him or if named by the other arbitrators, his place shall be filled by an appointment made by them; if no replacement has been named within 15 days following the date upon which the parties were advised of such failure to act, the vacancy may be filled by a judge of the Superior Court of the Province of Quebec, District of Montreal, upon motion by one of the parties.

Appears in 4 contracts

Samples: Subscription Agreement (Draxis Health Inc /Cn/), Subscription Agreement (Draxis Health Inc /Cn/), Shareholders' Agreement (Draxis Health Inc /Cn/)

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Replacement of Arbitrators. In the event that one or more of such arbitrators resigns, refuses to act, withdraws, dies or otherwise becomes unable to fulfill the duties imposed upon him, then his place shall be filled by the parties Party originally naming him or if named by the other arbitrators, his place shall be filled by an appointment made by them; if no replacement has been named within 15 days following the date upon which the parties were advised of such failure to act, the vacancy may be filled by a judge judgment of the Superior Court of the Province of QuebecQuébec, District of MontrealMontréal, upon motion by one of the parties.

Appears in 1 contract

Samples: Share Purchase Agreement (Universal American Financial Corp)

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