PSEM » Topics » 11.2 Arbitration.

These excerpts taken from the PSEM 8-K filed Sep 6, 2005.

11.2 Arbitration.

 

(a) Any disputes arising out of execution or performance of this Agreement shall be settled by the ROC Arbitration Association under the rules of ROC Arbitration Association and the ROC Arbitration Act by three arbitrators appointed in accordance with said rules and Act. The arbitration proceedings shall be conducted in Taipei and in Chinese Mandarin language. The arbitral award shall be final and binding on the parties thereto. The parties to said arbitral award shall waive all of their rights to object thereto insofar as permissible under the applicable laws.

 

(b) The prevailing party thereto shall be entitled to seek from the other party or parties full reimbursement of its costs and fees (including, without limitation, attorneys’ fee and arbitration fee) in connection with such arbitration proceeding.

 

(c) The existence of a dispute between the parties thereto, or the initiation or continuance of any arbitration proceedings referred to herein, shall not delay or otherwise postpone the performance of the undisputed obligations of the Parties hereto and the arbitrators shall take full cognizance and give due consideration to such performance, if any, in the making of the final award.

 

(d) Nothing in this Article shall prevent either Party from seeking pre-judgment or pre-award relief (including, without limitation, injunctive relief) in any jurisdiction where the other Party is operating or has assets.


Share Purchase Agreement

    
Confidential    08/30/05 Execution Copy

 

11.2 Arbitration.

 

(a) Any disputes arising out of execution or performance of this Agreement shall be settled by the ROC Arbitration Association under the rules of ROC Arbitration Association and the ROC Arbitration Act by three arbitrators appointed in accordance with said rules and Act. The arbitration proceedings shall be conducted in Taipei and in Chinese Mandarin language. The arbitral award shall be final and binding on the parties thereto. The parties to said arbitral award shall waive all of their rights to object thereto insofar as permissible under the applicable laws.

 

(b) The prevailing party thereto shall be entitled to seek from the other party or parties full reimbursement of its costs and fees (including, without limitation, attorneys’ fee and arbitration fee) in connection with such arbitration proceeding.

 

(c) The existence of a dispute between the parties thereto, or the initiation or continuance of any arbitration proceedings referred to herein, shall not delay or otherwise postpone the performance of the undisputed obligations of the Parties hereto and the arbitrators shall take full cognizance and give due consideration to such performance, if any, in the making of the final award.

 

(d) Nothing in this Article shall prevent either Party from seeking pre-judgment or pre-award relief (including, without limitation, injunctive relief) in any jurisdiction where the other Party is operating or has assets.

 

EXCERPTS ON THIS PAGE:

8-K (2 sections)
Sep 6, 2005

RELATED TOPICS for PSEM:

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