Common use of Waiver of Jury Trial and Counterclaims Clause in Contracts

Waiver of Jury Trial and Counterclaims. IN ANY LEGAL ACTION BETWEEN THE PARTIES ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREIN, THE CLIENT AND THE BANK EACH WAIVE THEIR RIGHTS TO A TRIAL BY JURY AND TO ASSERT UNRELATED NONCOMPULSORY OR NONMANDATORY COUNTERCLAIMS. FURTHERMORE, EACH OF THEM HEREBY CERTIFIES THAT THE FOREGOING JURY WAIVER IS A MATERIAL INDUCEMENT TO THE BANK TO ENTER INTO THIS AGREEMENT, AND EACH OF THEM CERTIFIES THAT NO REPRESENTATIVE OF THE OTHER HAS REPRESENTED (EXPRESSLY OR OTHERWISE) THAT THE OTHER WOULD NOT OR MIGHT NOT ENFORCE THIS JURY WAIVER.

Waiver of Jury Trial and Counterclaims. IN ANY LEGAL ACTION BETWEEN THE PARTIES DEPOSITOR AND THE BRANCH ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREIN, THE CLIENT DEPOSITOR AND THE BANK BRANCH EACH WAIVE THEIR RIGHTS TO A TRIAL BY JURY AND TO ASSERT UNRELATED NONCOMPULSORY OR NONMANDATORY COUNTERCLAIMS. FURTHERMORE, EACH OF THEM HEREBY CERTIFIES THAT THE FOREGOING JURY WAIVER IS A MATERIAL INDUCEMENT TO THE BANK BRANCH TO ENTER INTO THIS AGREEMENT, AND EACH OF THEM CERTIFIES THAT NO REPRESENTATIVE OF THE OTHER HAS REPRESENTED (EXPRESSLY OR OTHERWISE) THAT THE OTHER WOULD NOT OR MIGHT NOT ENFORCE THIS JURY WAIVER.