Common use of Choice of Law; Waiver of Jury Trial Clause in Contracts

Choice of Law; Waiver of Jury Trial. Notwithstanding the place where this Agreement may be executed by any of the parties hereto, the parties expressly agree that all the terms and provisions hereof shall be construed under the laws of the State of Delaware and, without limitation thereof, that the Act as now adopted or as it may be hereafter amended shall govern the limited liability company aspects of this Agreement. Any dispute or controversy arising under, out of, in connection with, or in relation to this Agreement, and any amendments hereof, or the breach thereof, or in connection with the dissolution of the Fund, shall be determined and settled by arbitration to be held in San Francisco, California, in accordance with the rules then effective of the American Arbitration Association. A single arbitrator, experienced in matters regarding limited liability companies that invest in securities, appointed by the American Arbitration Associations, shall conduct the arbitration. Any award rendered therein shall be final and binding on each and all of the Members, and judgment may be entered thereon in a federal or state court sitting in San Francisco, California. IN THE EVENT THAT ARBITRATION IS FOUND NOT TO BE AN APPROPRIATE REMEDY AND A COURT PROCEEDING ENSUES, SUCH PROCEEDING SHALL TAKE PLACE IN A FEDERAL OR STATE COURT SITTING IN SAN FRANCISCO, CALIFORNIA, AND A JURY TRIAL SHALL BE WAIVED BY EACH MEMBER AND EACH DIRECTOR.