ANOTHER COURT
AS PERMITTED BY THE LAWS OF THE UNITED STATES OR OF ANY STATE IN THE UNITED
STATES.
C.
SERVICE OF PROCESS IN ANY SUCH SUIT AGAINST THE REINSURER MAY BE
MADE UPON MENDES AND MOUNT, 750 SEVENTH AVENUE, NEW YORK, NEW YORK 10019-6829
("FIRM"), OR THE PARTY IDENTIFIED ON BEHALF OF THE REINSURER ON THE REINSURER'S
SIGNATURE PAGE TO THIS AGREEMENT, AND IN ANY SUIT INSTITUTED, THE REINSURER
SHALL ABIDE BY THE FINAL DECISION OF SUCH COURT OR OF ANY APPELLATE COURT IN THE
EVENT OF AN APPEAL.
D.
THE FIRM IS AUTHORIZED AND DIRECTED TO ACCEPT SERVICE OF PROCESS
ON BEHALF OF THE REINSURER IN ANY SUCH SUIT AND/OR UPON THE REQUEST OF THE
COMPANY TO GIVE A WRITTEN UNDERTAKING TO THE COMPANY THAT THEY SHALL ENTER A
GENERAL APPEARANCE UPON THE REINSURER' BEHALF IN THE EVENT SUCH A SUIT SHALL BE
INSTITUTED.
E.
FURTHER, AS REQUIRED BY AND PURSUANT TO ANY STATUTE OF ANY STATE,
TERRITORY OR DISTRICT OF THE UNITED STATES WHICH MAKES PROVISION THEREFORE, THE
REINSURER HEREBY DESIGNATES THE SUPERINTENDENT, COMMISSIONER OR DIRECTOR OF
INSURANCE OR OTHER OFFICER SPECIFIED FOR THAT
15
PURPOSE IN THE STATUTE, OR HIS SUCCESSOR OR SUCCESSORS IN OFFICE, AS THEIR TRUE
AND LAWFUL ATTORNEY UPON WHOM MAY BE SERVED ANY LAWFUL PROCESS IN ANY ACTION,
SUIT OR PROCEEDING INSTITUTED BY OR ON BEHALF OF THE COMPANY OR ANY BENEFICIARY
HEREUNDER ARISING OUT OF THIS AGREEMENT, AND HEREBY DESIGNATES THE ABOVE-NAMED
AS THE PERSON TO WHOM THE SAID OFFICER IS AUTHORIZED TO MAIL SUCH PROCESS OR A
TRUE COPY THEREOF.
ARTICLE XVIII
ARBITRATION
A.
ANY DISPUTE OR OTHER MATTER IN QUESTION BETWEEN THE COMPANY AND
THE REINSURER ARISING OUT OF, OR RELATING TO, THE FORMATION, INTERPRETATION,
PERFORMANCE, OR BREACH OF THIS AGREEMENT, WHETHER SUCH DISPUTE ARISES BEFORE OR
AFTER TERMINATION OF THIS AGREEMENT, SHALL BE SETTLED BY ARBITRATION.
ARBITRATION SHALL BE INITIATED BY THE DELIVERY OF A WRITTEN NOTICE OF DEMAND FOR
ARBITRATION BY ONE PARTY TO THE OTHER WITHIN A REASONABLE TIME AFTER THE DISPUTE
HAS ARISEN.
B.
IF MORE THAN ONE REINSURER IS INVOLVED IN THE SAME DISPUTE, ALL
SUCH REINSURERS SHALL CONSTITUTE AND ACT AS ONE PARTY FOR THE PURPOSES OF THIS
ARTICLE, PROVIDED, HOWEVER, THAT NOTHING HEREIN SHALL IMPAIR THE RIGHTS OF SUCH
REINSURERS TO ASSERT SEVERAL, RATHER THAN JOINT, DEFENSES OR CLAIMS, NOR BE
CONSTRUED AS CHANGING THE LIABILITY OF THE REINSURER UNDER THE TERMS OF THIS
AGREEMENT FROM SEVERAL TO JOINT.
C.
EXCEPT AS SET FORTH IN ARTICLE III, EACH PARTY SHALL APPOINT AN
INDIVIDUAL AS ARBITRATOR AND THE TWO SO APPOINTED SHALL THEN APPOINT A THIRD
ARBITRATOR. IF EITHER PARTY REFUSES OR NEGLECTS TO APPOINT AN ARBITRATOR WITHIN
60 DAYS, THE OTHER PARTY MAY APPOINT THE SECOND ARBITRATOR. IF THE TWO
ARBITRATORS DO NOT AGREE ON A THIRD ARBITRATOR WITHIN 60 DAYS OF THE APPOINTMENT
OF THE SECOND ARBITRATOR, EACH OF THE ARBITRATORS SHALL NOMINATE THREE
INDIVIDUALS. IF THE TWO ARBITRATORS ARE UNABLE TO AGREE UPON THE THIRD
ARBITRATOR WITHIN THIRTY (30)