Examples of Expert Procedure in a sentence
Renco Is Not Required to Submit Its Claim to the Expert Procedure Set Forth in the Stock Transfer Agreement 207.
Should the Presidents fail to reach agreement within twenty one (21) days of the matter being referred to them, they may, with the consensus of both Parties, submit the matter to the Expert Procedure set forth in Article 4 below.
If there is no consensus on submitting to the Expert Procedure, the matter may be referred to arbitration by either Party (or both) in accordance with Article 5 below.
In deciding any matter, the Independent Expert will be bound by the provisions of this Agreement, including this Section 1.5. It is the intent of the parties hereto that the Independent Expert Procedure and the activities of the Independent Expert in connection herewith are not (and should not be considered to be or treated as) an arbitration proceeding or similar arbitral process and that no formal arbitration rules should be followed (including rules with respect to procedures and discovery).
In deciding any matter, the Independent Expert will be bound by the provisions of this Agreement, including this Section 1.4. It is the intent of the parties hereto that the Independent Expert Procedure and the activities of the Independent Expert in connection herewith are not (and should not be considered to be or treated as) an arbitration proceeding or similar arbitral process and that no formal arbitration rules should be followed (including rules with respect to procedures and discovery).
Bolivarian Republic of Venezuela’s Joint Expert Procedure Post-Hearing Brief dated December 23, 2013 (Excerpted) (Exhibit 30), § V (“Questions for the Tribunal to Answer”).
In an effort to overcome the impasse and delay to the arbitration caused by Venezuela’s failure to participate in the Joint Expert Procedure, Gold Reserve requested in December 2012 to dispense with the Joint Expert Procedure and rely on the evidence in the record.
Award ¶¶ 153, 200, 212.During the Joint Expert Procedure, the parties and their experts confirmed their agreement on the use of a discounted cash flow (“DCF”) approach to calculating the fair market value of Claimant’s mining project for valuation purposes.
Award ¶ 690.Following the Joint Expert Procedure, there were no further requests by the Tribunal, which declared the arbitration proceedings closed on July 23, 2014.
Background The UK and Norwegian Governments have failed to agree on the apportionment of reserves between the licensees of each Government of the “Flyndre” oil field and the UK Government has therefore invoked the Expert Procedure under Annex D of Article 3.4 of the 2005 Framework Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Kingdom of Norway concerning Cross-Boundary Petroleum Co-operation.