Provision Language
Governing Law and Dispute Resolution (Page 9)
[…] All disputes arising out of, relating to, or in connection with this Binding Term Sheet and the Definitive Agreement shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by three arbitrators, one nominated by each party and the third nominated by those two party nominated appointees. The seat of the arbitration shall be New York, USA, and the language of the proceedings shall be English. MoH waives any claim to immunity in regard to any proceeding to confirm or enforce any decision, arbitral award, or settlement. MoH represents and warrants that the person signing this Binding Term Sheet on its behalf has actual authority to waive such immunity. MoH also waives application of any law that may otherwise limit or cap its obligation to pay damages arising from claims indemnified under the terms of this Binding Term Sheet or the Definitive Agreement. MoH represents and warrants that the person signing this Binding term sheet on its behalf has actual authority to waive such immunity.