TERMINATION OF THE ARBITRATION PROCEEDINGS. The Parties agree that upon the occurrence of the suspensive condition set forth in Section 6.1 below, the Arbitration Proceedings presently pending before the Xxx Xxxx Xxxxxx Lertao shall be discontinued with prejudice, and the terms of this Agreement shall be embodied in a Consent Award 10 be issued by the Arbitrator. Such consent award shall provide that each party shall bear its own costs, attorneys fees and 50% of the tees of the arbitrator.
Appears in 2 contracts
Samples: Memorandum of Agreement (ERHC Energy Inc), Memorandum of Agreement (ERHC Energy Inc)
TERMINATION OF THE ARBITRATION PROCEEDINGS. The Parties agree that upon the occurrence of the suspensive condition set forth in Section 6.1 below, the Arbitration Proceedings presently pending before the Xxx Xxx. Xxxx Xxxxxx Lertao Leitao shall be discontinued with prejudice, and the terms of this Agreement shall be embodied in a Consent Award 10 to be issued by the Arbitrator. Such consent award shall provide that each party shall bear its own costs, attorneys fees and 50% of the tees fees of the arbitrator.
Appears in 2 contracts
Samples: Memorandum of Agreement (ERHC Energy Inc), Memorandum of Agreement (Environmental Remediation Holding Corp)
TERMINATION OF THE ARBITRATION PROCEEDINGS. The Parties agree that upon the occurrence of the suspensive condition set forth in Section 6.1 below, the Arbitration Proceedings presently pending before the Xxx Xxxx Xxxxxx Lertao shall be discontinued with prejudice, and the terms of this Agreement shall be embodied in a Consent Award 10 be issued by the Arbitrator. Page 6 of 11 Such consent award shall provide that each party shall bear its own costs, attorneys fees and 50% of the tees of the arbitrator.
Appears in 1 contract
Samples: Production Agreement
