Common use of Preservation and Limitation of Remedies Clause in Contracts

Preservation and Limitation of Remedies. (i) Notwithstanding the preceding binding arbitration provisions, the parties hereto and to the other Loan Documents agree to preserve, without diminution, certain remedies that any such Person may exercise before or after an arbitration proceeding is brought. Each such Person shall have the right to proceed in any court of proper jurisdiction or by self-help to exercise or prosecute the following remedies, as applicable: (i) all rights to foreclose against any real or personal property or other security by exercising a power of sale or under applicable law by judicial foreclosure including a proceeding to confirm the sale; (ii) all rights of self-help including peaceful occupation of real property and collection of rents, set-off, and peaceful possession of personal property; (iii) obtaining provisional or ancillary remedies including injunctive relief, sequestration, garnishment, attachment, appointment of receiver and filing an involuntary bankruptcy proceeding; and (iv) when applicable, a judgment by confession of judgment. Any claim or controversy with regard to any party's entitlement to such remedies is a Dispute. (ii) Each party hereto and to the other Loan Documents agrees that it shall not have a remedy of punitive or exemplary damages against any other party hereto or any other Loan Document in any Dispute and hereby waives any right or claim to punitive or exemplary damages such party has now or which may arise in the future in connection with any Dispute, whether the Dispute is resolved by arbitration or judicially.

Preservation and Limitation of Remedies. (i) Notwithstanding the preceding binding arbitration provisions, the parties hereto Bank and to the other Loan Documents Borrower agree to preserve, without diminution, certain remedies that any such Person party hereto may employ or exercise before freely, independently or in connection with an arbitration proceeding or after an arbitration proceeding action is brought. Each such Person Bank and Borrower shall have the right to proceed in any court of proper jurisdiction or by self-help to exercise or prosecute the following remedies, as applicable: ; (i) all rights to foreclose against any real or personal property or other security by exercising a power of sale granted under Loan Documents or under applicable law or by judicial foreclosure and sale, including a proceeding to confirm the sale; (ii) all rights of self-help including peaceful occupation of real property and collection of rents, set-off, and peaceful possession of personal property; (iii) obtaining provisional or ancillary remedies including injunctive relief, sequestration, garnishment, attachment, appointment of receiver and filing an involuntary bankruptcy proceeding; and (iv) when applicable, a judgment by confession of judgment. Any claim or controversy with regard Preservation of these remedies does not limit the power of an arbitrator to any party's entitlement to such grant similar remedies is that may be requested by a party in a Dispute. (ii) Each party hereto . Bank and to the other Loan Documents agrees Borrower agree that it they shall not have a remedy of punitive or exemplary damages against any the other party hereto or any other Loan Document in any Dispute and hereby waives waive any right or claim to punitive or exemplary damages such party has they have now or which may arise in the future in connection with any Dispute, Dispute whether the Dispute is resolved by arbitration or judicially.

Preservation and Limitation of Remedies. (i) Notwithstanding the preceding binding arbitration provisions, the parties hereto Bank and to the other Loan Documents Borrower agree to preserve, without diminution, certain remedies that any such Person party hereto may exercise before or after an arbitration proceeding is brought. Each such Person Bank and Borrower shall have the right to proceed in any court of proper jurisdiction or by self-help to exercise or prosecute the following remedies, as applicable: (i) all rights to foreclose against any real or personal property or other security by exercising a power of sale granted under the Loan Documents or under applicable law or by judicial foreclosure and sale, including a proceeding to confirm the sale; (ii) all rights of self-help including peaceful occupation of real property and collection of rents, set-off, and peaceful possession of personal property; (iii) obtaining provisional provisions or ancillary remedies including injunctive relief, sequestration, garnishment, attachment, appointment of receiver and filing of an involuntary bankruptcy proceeding; and (iv) when applicable, a judgment by confession of judgment. Any claim or controversy with regard to any party's entitlement to such remedies is a Dispute. (ii) Each party hereto Borrower and to the other Loan Documents agrees Bank agree that it they shall not have a remedy of punitive or exemplary damages against any the other party hereto or any other Loan Document in any Dispute and hereby waives waive any right or claim to punitive or exemplary damages such party has they have now or which may arise in the future in connection with any Dispute, Dispute whether the Dispute is resolved resolve by arbitration or judicially.