Walk-Away Rights for Player-Elected Salary Arbitration Sample Clauses

Walk-Away Rights for Player-Elected Salary Arbitration. (a) If a Club has elected to arbitrate a one-year SPC, and the award issued is for $3,500,000 or more per annum, then the Club may, within forty-eight (48) hours after the award of the Salary Arbitrator is issued (or, if a Club has any other Player still eligible for salary arbitration at that time and for whom a decision has not been rendered by a Salary Arbitrator at that time, and the Club still has a walk-away right available to it in such League Year pursuant to paragraph (c) below, forty-eight (48) hours after the award of the Salary Arbitrator for such other Player is issued or that Player's salary arbitration case is settled), notify the Player or his Certified Agent, if any, the NHLPA and the NHL in writing, in accordance with Exhibit 3 hereof, that it does not intend to tender to the Player an SPC based on the award as determined by the Salary Arbitrator. Upon receipt of that notice, the Player shall automatically be deemed to be an Unrestricted Free Agent.
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