Common use of ARBITRATION AGREEMENT AND WAIVER OF JURY TRIAL Clause in Contracts

ARBITRATION AGREEMENT AND WAIVER OF JURY TRIAL. If a dispute occurs between you and the Bank that arises from or is incident to this Agreement, then you or the Bank shall submit such dispute to arbitration in the state of Kansas according to the rules of the Commercial Rules of the American Arbitration Association (AAA), subject to the following terms: (a) Each Party shall be subject to the personal jurisdiction of the courts located in the state of Kansas and waives the right to assert lack of personal jurisdiction in any legal proceeding. (b) Each Party shall bear any cost imposed on that party by the AAA. The Parties share equally any cost imposed on both parties by the AAA. (c) Each Party shall bear its own attorneys’ fees. The arbitrator shall not order nor have the power to order a Party to pay or reimburse the other Party for attorneys’ fees, expert fees or any other fees incurred in connection with, preparing, presenting or defending its case. (d) The arbitrator shall not award nor be empowered to award punitive or exemplary damages. (e) The arbitrator shall not grant, nor have the power to grant, any form of injunctive relief. The decision/award of the AAA or other arbitrator shall be final and binding on you and the Bank. You and the Bank may enter the decision/award in any court of competent jurisdiction. Whether any controversy is arbitrated or settled by a court, you and the Bank voluntarily and knowingly waive any right to a jury trial with respect to the controversy.

ARBITRATION AGREEMENT AND WAIVER OF JURY TRIAL. If a dispute occurs between you and the Bank that arises from or is incident to this Agreement, then you or the Bank shall submit such dispute to arbitration in the state of Kansas according to the rules of the Commercial Rules of the American Arbitration Association (AAA), subject to the following terms: (a) a. Each Party shall be subject to the personal jurisdiction of the courts located in the state of Kansas and waives the right to assert lack of personal jurisdiction in any legal proceeding. (b) b. Each Party shall bear any cost imposed on that party by the AAA. The Parties share equally any cost imposed on both parties by the AAA. (c) c. Each Party shall bear its own attorneys’ ' fees. The arbitrator shall not order nor have the power to order a Party to pay or reimburse the other Party for attorneys’ ' fees, expert fees or any other fees incurred in connection with, preparing, presenting or defending its case. (d) d. The arbitrator shall not award nor be empowered to award punitive or exemplary damages. (e) e. The arbitrator shall not grant, nor have the power to grant, any form of injunctive relief. The decision/award of the AAA or other arbitrator shall be final and binding on you and the Bank. You and the Bank may enter the decision/award in any court of competent jurisdiction. Whether any controversy is arbitrated or settled by a court, you and the Bank voluntarily and knowingly waive any right to a jury trial with respect to the controversy.