Legal Arbiter definition
Legal Arbiter means an internationally recognized law firm or practitioner with expertise in matters of creditors’ rights and insolvency in the relevant Potential Jurisdiction (“Eligible Expert”), which is Independent of both FSA and Dexia. The Legal Arbiter shall be jointly appointed by FSA and Dexia; provided, however, that (1) in the event FSA and Dexia do not agree as to such joint appointment within eight Business Days from the FSA notice of objection referred to in (A) (II) above, each shall nominate an Eligible Expert and the two Eligible Experts shall themselves appoint the Legal Arbiter and (2) the Legal Arbiter shall be required to reach its conclusion within ten Business Days and if no such conclusion has been delivered, a replacement Legal Arbiter may be appointed by the relevant Dexia Party acting alone. The determination of the Legal Arbiter shall be final and binding on all parties.