Selection or Appointment of Referee. When Lender and Borrower are involved in any dispute or controversy (the “Reference Parties”), the Reference Parties shall select a single neutral referee who shall be a retired state or federal judge. In the event the Reference Parties cannot agree upon a referee, a single neutral referee shall be appointed by the court in accordance with the procedure set forth in Code of Civil Procedure section 640(b).
Appears in 2 contracts
Samples: Business Loan & Security Agreement (MR2 Group, Inc.), Business Loan & Security Agreement (MR2 Group, Inc.)
Selection or Appointment of Referee. When Lender and Borrower are involved in any dispute or controversy (the “Reference Parties”), the Reference Parties ) they shall jointly select a single neutral referee who shall be a retired state or federal judge. In the event the Reference Parties cannot agree upon a referee, a single neutral referee shall be appointed by the court in accordance with the procedure set forth in Code of Civil Procedure section 640(b).
Appears in 2 contracts
Samples: Business Loan and Security Agreement (SharedLabs, Inc), Business Loan and Security Agreement (Glowpoint, Inc.)
Selection or Appointment of Referee. When Lender and Borrower any Loan Party are involved in any dispute or controversy (the “Reference Parties”), the Reference Parties shall select a single neutral referee who shall be a retired state or federal judge. In the event the Reference Parties cannot agree upon a referee, a single neutral referee shall be appointed by the court in accordance with the procedure set forth in Code of Civil Procedure section 640(b).
Appears in 1 contract
Samples: Business Loan & Security Agreement (Spectrum Global Solutions, Inc.)
