Arbitration Agreement With Class Action Waiver. You or we may elect to arbitrate Claims. You and we agree that if we have a Claim against you or you have a Claim against us, or any of our agents, successors, assigns, affiliates, owners, officers, directors, employees, or representatives, then the person or entity asserting the claim or against whom the claim is asserted may elect to have such Claim(s) resolved by arbitration on an individual basis as provided below, and not by a judge or jury in court. The party electing arbitration agrees to notify the other party of its election pursuant to applicable rules of arbitration or as otherwise provided by law. If a party files a lawsuit in court asserting Claim(s) that are subject to arbitration and the other party files a motion to compel arbitration with the court which is granted, it will be the responsibility of the party asserting the Claim(s) to select an arbitration administrator in accordance with this Arbitration Agreement and start the arbitration proceeding in accordance with the administrator’s rules and procedures. Even if all parties have opted to litigate a Claim in court, you or we may elect arbitration with respect to any Claim made by a new party or any Claim later asserted by a party in that or any related or unrelated lawsuit (including a claim initially asserted on an individual basis but modified to be asserted on a class, representative or multi-party basis). Nothing in that litigation shall constitute a waiver of any rights under this Arbitration Agreement. What is arbitration? Arbitration is a procedure used to resolve disputes. By participating in arbitration, YOU GIVE UP YOUR RIGHT TO GO TO COURT OR TO HAVE A JURY TRIAL. In an arbitration proceeding, a professionally trained, neutral, third party arbitrator holds a hearing. The hearing is less formal than a trial in court. Each party has the opportunity to tell his or her side of the dispute. The arbitrator will review each party's case and make a decision. The decision is binding on the parties. What is a “Claim?” “Claims'' means any and all claims, disputes or controversies that arise under common law, federal or state statute or regulation, local ordinance or otherwise, and that we or our servicers or agents have against you or that you have against us, our affiliates, servicers, agents, successors, assigns, representatives, directors, officers and employees. This Arbitration Agreement is also binding upon and may be enforced by any third party who is named as a co-defendant in...
Arbitration Agreement With Class Action Waiver
