Common use of Enforcement of Foreign Judgments Clause in Contracts

Enforcement of Foreign Judgments. Any final judgment for a fixed or determined sum of money rendered by any U.S. federal or New York state court located in the State of New York (each, a “New York Court”) having jurisdiction under its own laws in respect of any suit, action or proceeding against the Bank based upon any of the Transaction Documents would be declared enforceable against the Bank by the courts of Jamaica, without reconsideration or reexamination of the merits; provided that the Jamaican court is satisfied that (i) the New York Court had competence by virtue of submission of the parties to the jurisdiction of the court at the time at which the action was brought; (ii) such judgment was final and conclusive; (iii) such judgment was for a fixed sum (including an award for damages); (iv) such judgment was not contrary to the public policy of Jamaica; and (v) such judgment was not obtained by fraud. No order has been made extending the provisions of the Judgments (Foreign) (Reciprocal Enforcement) Act of Jamaica to the United States. Accordingly, judgments obtained in any New York Court would have to be enforced in Jamaica by filing a fresh action on the judgment as if it were an action for a debt in the Supreme Court of Jamaica. Any final monetary judgment rendered by any New York Court in respect of any suit, action or proceeding against the Bank based upon any Transaction Document would be declared enforceable against the Bank by the courts of Jamaica without reexamination or review of the merits of the cause of action in respect of which the original judgment was given or re-litigation of the matters adjudicated unless the Jamaican court is satisfied that (i) the judgment debtor, being a person who was neither carrying on business nor ordinarily resident within the jurisdiction of the New York Court, did not voluntarily appear or otherwise submit or agree to submit to the jurisdiction of such New York Court; (ii) the judgment debtor, being the defendant in the proceedings, was not duly served with the process of the New York Court and did not appear notwithstanding that it was ordinarily resident or was carrying on business within the jurisdiction of the New York Court or agreed to submit to the jurisdiction of such New York Court; (iii) the judgment was obtained by fraud; or (iv) the judgment was in respect of a cause of action which for reasons of Jamaican public policy or for some other similar reason could not have been entertained by the New York Court.

Enforcement of Foreign Judgments. Pursuant to the terms of this Agreement and the Deposit Agreement, the Company has agreed to submit to the jurisdiction of any state or federal court in the state of New York in which the relevant suit or proceeding may be instituted. Any final judgment for a fixed or determined readily calculable sum of money rendered by in any U.S. state or federal or New York state court located in the State state of New York (each, a “New York Court”) having jurisdiction under its own laws in respect of any suit, action or proceeding against the Bank Company based upon any of this Agreement and the Transaction Documents Deposit Agreement or the transactions contemplated thereby would be declared enforceable against the Bank Company by the courts of Jamaica, without reconsideration or reexamination of the merits; provided that the Jamaican court is satisfied that (i) the New York Court had competence by virtue of submission of the parties to the jurisdiction of the court at the time at which the action was brought; (ii) such judgment was final and conclusive; (iii) such judgment was for a fixed sum (including an award for damages); (iv) such judgment was not contrary to the public policy of Jamaica; and (v) such judgment was not obtained by fraud. No order has been made extending the provisions of the Judgments (Foreign) (Reciprocal Enforcement) Act of Jamaica to the United States. Accordingly, judgments obtained in any New York Court would have to be enforced in Jamaica by filing a fresh action on the judgment as if it were an action for a debt in the Supreme Court of Jamaica. Any final monetary judgment rendered by any New York Court in respect of any suit, action or proceeding against the Bank based upon any Transaction Document would be declared enforceable against the Bank by the courts of Jamaica Peru without reexamination or review of the merits of the cause of action in respect of which the original judgment was given or re-litigation retrial of the matters adjudicated unless upon or payment of any stamp, registration or similar tax or duty, provided that it is ratified by the Jamaican court is satisfied that Peruvian Courts (Xxxxxx de la República del Perú) if the following conditions and requirements are met: (i) such judgment is not related to matters under the judgment debtor, being a person who was neither carrying on business nor ordinarily resident within the exclusive jurisdiction of the New York Court, did not voluntarily appear or otherwise submit or agree to submit to the jurisdiction of Peruvian courts (such New York Courtas matters involving real estate property); (ii) the judgment debtor, being the defendant in the proceedings, was not duly served with the process issuing court had jurisdiction under its own conflicts of the New York Court law rules and did not appear notwithstanding that it was ordinarily resident or was carrying under general principles of international law on business within the jurisdiction of the New York Court or agreed to submit to the jurisdiction of such New York Courtjurisdiction; (iii) the judgment defendant was obtained by fraudadequately served and was guaranteed due process under the laws of the jurisdiction of the issuing court; or (iv) the judgment was is res judicata under the laws of the jurisdiction of the issuing court; (v) there is no pending litigation in respect Peru between the same parties for the same issue, which has been initiated before the commencement of the proceedings that concluded with such judgment; (vi) such judgment is not incompatible with a cause priorly rendered foreign judgment that fulfills the requirements of action which for reasons recognition and enforceability established by Peruvian law; (vii) such judgment is not contrary to Peruvian national sovereignty, public order or good morals; (viii) it has not been proven that the issuing court has denied enforcement of Jamaican public policy Peruvian judgments or for some other similar reason could not have engaged in a review of the merits thereof; (ix) such judgment has been entertained (a) duly apostilled by the New York Courtcompetent authority of the jurisdiction of the issuing court, in case of jurisdictions that are parties to the Hague Apostille Convention, or (b) certified by Peruvian consular authorities, in case of jurisdictions that are not parties to the Hague Apostille Convention, and is accompanied by a certified and officially translated copy of such judgment into Spanish; and (x) payment of the applicable court taxes or filing fees.