iv. On termination Claimant named for the fantastic equilibrium in the sale price by its letter of 23rd June, 2010;
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c. The Claimant waived the arbitration clauses by failing to look during the Dubai Court docket Proceeding and by failing to invoke the proper to arbitrate pursuant to Those people clauses (Remedy two.two);
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It had been also asserted the arbitration clauses had been void and unenforceable given that the signatory to the Leases that contains the arbitration clauses, getting the Respondent 2 Al Mulla, didn't have the authority to so concur. Also, it had been asserted that the claim towards the Respondent Al Meeza was premature and inadmissible inside the absence of a conclusive deed evidencing the existence and maturity of your debt in addition to absent any published notice pursuant to your promise. Eventually, it was asserted that a explanation for motion in opposition to Al Meeza would come up only just after an award has become built versus Gulf Jet which Gulf Jet has declined to pay.
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c. Guaranty dated 2 August 2007 signed by Al Meeza in regard of Cessna Lease 560-5679 whereby Al Meeza undertook to "unconditionally and irrevocably assure[]the timely and unconditional payment to Cessna [] (or to its buy) of all amounts owed by Lessee below Lease, and even further unconditionally assures the efficiency of all of Lessee's other obligations beneath the Lease when because of and in rigid compliance with Just about every of the terms and conditions thereof. (Show 3 to your Request for Arbitration, Guarantee at paragraph A)
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