Common use of Basis for Arbitration Clause in Contracts

Basis for Arbitration. The parties hereto agree that the subject --------------------- matter of this Agreement and any agreement that may be entered in connection therewith both involve and affect interstate commerce within the meaning of the commerce clause of the United States Constitution and Title 9 of the U. S. Code. This Agreement shall be irrevocable and is binding upon the parties and is subject to being specifically enforced. The parties hereto understand and acknowledge that each party is waiving his or its right to a jury trial of Disputes (as defined below) by entering into this Agreement.

Basis for Arbitration. The parties hereto agree that the subject --------------------- matter of this Agreement and any agreement that may be entered in connection therewith both involve and affect interstate commerce within the meaning of the commerce clause of the United States Constitution and Title 9 of the U. S. Code. This Agreement shall be irrevocable and is binding upon the parties and is subject to being specifically enforced. The parties hereto understand and acknowledge that each party is waiving his or its right to a jury trial of Disputes (as defined below) by entering into this Agreement.