'Ras al Khaimah Oil Agreement' [‎8r] (15/20)

ARTICLE 21. The Shaikh hereby agrees that the Company niay transfer
the obligations and benefits of this Agreement to a British Company to
oe called "Petroleum Levelo^-ment (Truciol ouast; ijimited*' or to any other
Compariy registered within the British Bnpire.
ARTICLE 22. Failure on the past of the Company to fulfil ai^ of th
conditions of this Agreement shall not give the Shaikh any claim against
the Company or be deemed a breach of this Agreement in so far as such
failure arises from force majeure, and if through force majeure the
fulfilment by the Company of any of the conditions of this .ugroeuient be
delayed the period of such delay shall be added to the periods fixed by
this Agreement.
Force majeure as used in this Agreement includes the ^.ct of God. wor
insurrection, riot, civil commotion, tide, storm, tidal wave, flood,
lightning, explosion, fire, earthquakes and any other happening which
tiie Company could not reasonably prevent or control.
ARTICLE 2 ^* Tne Shaikh shall not by general or special legislation
or by administrative measures or by any other act whatever annul this
Agreement except as provided in Article 19 .
♦
^■o' alteration shall be made in the terms of this Agreement by either
the Shaikh or the Company except in the event of the Shaikh and the
Company jointly agreeing that it is desirable in the interests of both
parties to make certain alterations deletions or additions to this
Agreement.
^ ai ^ d - uri 'Ag the currency of this agreement
any difference or dispute shall arise between the parties hereto concerning
. or execution hereof, or anything herein contained, or
in connection herewith, or the rights or liabilities of either party
icreundur, the same shall, failing any agreement to settle it in any other
■-./» 0 rex erred to two arbitrators, one of whom shall be chosen by each
pai y, and a referee, wlao shall be chosen by the arbitrators before
proceeding to arbitration.
(k) Eacn party shall nominate its own arbitrator within sixty days
at ter delivery of a request so to do by the other party failing which its
arbitrator may at the request of the other party be designated by the
British Political .Resident in the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. . In the event of the
arbitrators failing to agree within sixty days after being chosen or
designated the British Political Resident A senior ranking political representative (equivalent to a Consul General) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Residency. in the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. may appoint
a referee at the request of the arbitrators or of either of them.
(c) The decision of the arbitrators, or in a case of a difference
01 opinion between them the decision of the referee, shall be final
and binding upon both parties.
(d) In giving a decision the arbitrators or the referee shall
speerfy an adequate period cf delay during which the party against whan
the decision is given shall conform to the decision and that party shall
oe in default only if that party has failed to conform to the decision
prior to the expiry of that period and not otherwise.
(e; The place of arbitration shall be such as may be agreed by the
parties and m default of agreement shall be London 7 ^ 7
^ TlCL3 Bhould the Shaikh decide to grant permission for a
00 -^ 11 ?° 0 ?!rf 1 % Branca or A S cnc y in Ras-al-Kliainah the Shaikh shall
consul 1 / with the Company as to which Bank shall be given the permission.
tv mV 6 J7ia *^ B a ' 1 i° time designate in writing another Banlc
or Banks lor the purpose of this Article.