Common use of Class Waiver Clause in Contracts

Class Waiver. YOU AND WE EACH HEREBY AGREE TO ARBITRATE ANY DISPUTE ON AN INDIVIDUAL BASIS AND EACH HEREBY WAIVES ANY RIGHT TO ASSERT OR PARTICIPATE ON A CLASS, COLLECTIVE, REPRESENTATIVE, AND/OR CONSOLIDATED BASIS. YOU AND WE EACH HEREBY AGREE: (I) THAT NO ARBITRATION PROCEEDING HEREUNDER SHALL BE CERTIFIED AS A CLASS/COLLECTIVE ACTION OR PROCEED AS A CLASS/COLLECTIVE ACTION, OR ON ANY BASIS INVOLVING CLAIMS BROUGHT IN A PURPORTED REPRESENTATIVE CAPACITY ON BEHALF OF OR IN THE INTEREST OF THE GENERAL PUBLIC AND/OR OTHER MEMBERS OR PERSONS SIMILARLY SITUATED, (II) THAT EACH SHALL NOT BE ENTITLED TO ACT IN ANY ARBITRATION IN THE INTEREST OF THE GENERAL PUBLIC, OR TO ACT AS A PRIVATE ATTORNEY GENERAL, (III) EACH SHALL NOT BE PART OF, OR BE REPRESENTED IN, ANY CLASS OR COLLECTIVE ACTION OR OTHER REPRESENTATIVE ACTION BROUGHT BY ANYONE ELSE, AND (IV) THAT NO ARBITRATION PROCEEDING SHALL BE CONSOLIDATED WITH, OR JOINED IN ANY WAY WITH, ANY OTHER ARBITRATION OR OTHER PROCEEDING. THERE SHALL BE NO RIGHT OR AUTHORITY FOR ANY DISPUTE TO BE ARBITRATED ON A CLASS, COLLECTIVE, REPRESENTATIVE, AND/OR CONSOLIDATED BASIS. NO ARBITRATOR SHALL HAVE THE AUTHORITY TO MAKE ANY AWARD FOR THE BENEFIT OF, OR AGAINST, ANY PERSON WHO IS NOT A NAMED PARTY.