Common use of Arbitration as the Exclusive Remedy Clause in Contracts

Arbitration as the Exclusive Remedy. A. The parties agree that all disputes relating to or arising out of this Agreement and/or the Participant’s participation in the Academy shall be presented to the American Arbitration Association ("AAA") in accordance with the rules of the AAA before a retired state or federal court judge for arbitration pursuant to the commercial rules of that association as the sole and exclusive remedy for resolving such disputes. The parties agree that (a) they shall be entitled to conduct such reasonable discovery as the arbitrator may allow; (b) the arbitrator shall be entitled to award the full range of relief as would be available to the prevailing party in a court of law; and (c) the decision of the arbitrator shall be final and binding on each of the parties. The prevailing party in any arbitration under this Agreement shall be entitled to recover its attorneys' fees and costs from the other party. The parties agree that any such arbitration shall take place in Chicago, Illinois. B. If any party to this Agreement brings a civil action rather than an arbitration proceeding as required by paragraph 7.A. above, such action shall be barred as a result of the exclusive remedy provided in that paragraph, and the prevailing party in any such action shall be entitled to recover its costs and expenses, including reasonable attorneys' fees, incurred in connection with such lawsuit. C. THE PARTIES TO THIS AGREEMENT EACH ACKNOWLEDGE AND AGREE THAT BY SELECTING ARBITRATION AS THE SOLE AND EXCLUSIVE REMEDY FOR RESOLVING ALL DISPUTES AMONG THEM, THEY ARE WAIVING THEIR RIGHT TO A JURY TRIAL TO WHICH THEY MAY OTHERWISE BE ENTITLED.

Arbitration as the Exclusive Remedy. A. The parties agree that all disputes relating to or arising out of this Agreement and/or the Participant’s participation in the Academy shall be presented to the American Arbitration Association ("AAA") in accordance with the rules of the AAA before a retired state or federal court judge for arbitration pursuant to the commercial rules of that association as the sole and exclusive remedy for resolving such disputes. The parties agree that (a) they shall be entitled to conduct such reasonable discovery as the arbitrator may allow; (b) the arbitrator shall be entitled to award the full range of relief as would be available to the prevailing party in a court of law; and (c) the decision of the arbitrator shall be final and binding on each of the parties. The prevailing party in any arbitration under this Agreement shall be entitled to recover its attorneys' fees and costs from the other party. The parties agree that any such arbitration shall take place in Chicago, Illinois. B. . If any party to this Agreement brings a civil action rather than an arbitration proceeding as required by paragraph 7.A. abovethis paragraph, such action shall be barred as a result of the exclusive remedy provided in that paragraph, and the prevailing party in any such action shall be entitled to recover its costs and expenses, including reasonable attorneys' fees, incurred in connection with such lawsuit. C. . THE PARTIES TO THIS AGREEMENT EACH ACKNOWLEDGE AND AGREE THAT BY SELECTING ARBITRATION AS THE SOLE AND EXCLUSIVE REMEDY FOR RESOLVING ALL DISPUTES AMONG THEM, THEY ARE WAIVING THEIR RIGHT TO A JURY TRIAL TO WHICH THEY MAY OTHERWISE BE ENTITLED. Without limiting the foregoing, EACH PARTY WAIVES THE RIGHT TO LITIGATE IN COURT OR ARBITRATE ANY CLAIM FOR DISPUTE AS A CLASS ACTION, EITHER AS A MEMBER OF A CLASS OR AS A REPRESENTATIVE, OR TO ACT AS A PRIVATE ATTORNEY GENERAL.