Common use of Punitive Damages Waiver Clause in Contracts

Punitive Damages Waiver. THE PARTIES HERETO WAIVE ANY RIGHT TO PUNITIVE, CONSEQUENTIAL, OR EXEMPLARY DAMAGES FROM THE OTHER BASED ON ANY RIGHT, CLAIM OR ACTION ANY OF THEM MAY HAVE AGAINST THE OTHERS, INCLUDING, BUT NOT LIMITED TO, ANY RIGHT, STATUTORY RIGHT, CONTROVERSY, DISPUTE OR CLAIM, INCLUDING ALL CLAIMS SOUNDING IN CONTRACT OR TORT, ARISING FROM THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREIN. THE PARTIES HERETO ACKNOWLEDGE THAT EACH MAKES THIS WAIVER KNOWINGLY, VOLUNTARILY, INTENTIONALLY, WITHOUT DURESS AND AFTER DISCUSSING OR HAVING THE OPPORTUNITY TO DISCUSS THIS WAIVER AND THE RAMIFICATIONS THEREOF WITH THEIR ATTORNEYS.

Punitive Damages Waiver. THE PARTIES HERETO WAIVE ANY RIGHT TO PUNITIVE, CONSEQUENTIAL, INCIDENTAL, SPECIAL, INDIRECT OR EXEMPLARY DAMAGES FROM THE OTHER BASED ON ANY RIGHT, CLAIM OR ACTION ANY OF THEM MAY HAVE AGAINST THE OTHERS, INCLUDING, BUT NOT LIMITED TO, ANY RIGHT, STATUTORY RIGHT, CONTROVERSY, DISPUTE OR CLAIM, INCLUDING ALL CLAIMS SOUNDING IN CONTRACT OR TORT, ARISING FROM THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREIN. THE PARTIES HERETO ACKNOWLEDGE THAT EACH MAKES THIS WAIVER KNOWINGLY, VOLUNTARILY, INTENTIONALLY, WITHOUT DURESS AND AFTER DISCUSSING OR HAVING THE OPPORTUNITY TO DISCUSS THIS WAIVER AND THE RAMIFICATIONS THEREOF WITH THEIR ATTORNEYS.