Common use of WAIVER OF JURY TRIAL AND PUNITIVE DAMAGES Clause in Contracts

WAIVER OF JURY TRIAL AND PUNITIVE DAMAGES. In the event of any controversy or claim arising out of or relating to this contract, or the breach thereof, the parties hereto shall consult and negotiate with each other and, recognizing their mutual interests, attempt to reach a solution satisfactory to both parties. If they do not reach settlement within a period of 60 days, then either party may, by written notice to the other party, demand mediation in New York, New York exclusively, before a mediator mutually agreed upon by the parties. If settlement is not reached within 60 days after service of a written demand for mediation, any unresolved controversy or claim arising out of or relating to this contract shall be finally resolved by arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules, and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction. The arbitration will be conducted in the English language in the city of New York, New York, in accordance with the United States Arbitration Act. There shall be three arbitrators, named in accordance with such rules. Except as may be required by law or to the minimum information necessary for entry of judgment, neither a party nor its representatives may disclose the existence, content, or results of any arbitration hereunder without the prior written consent of all/both parties. To the extent allowed by applicable law, you agree that you will bring any claim or cause of action arising from or relating to the Agreement within two (2) years from the date on which such claim or action arose or accrued or such claim or cause of action will be irrevocably waived. In any case, DST shall not be liable for other than compensatory damages. Additionally, you hereby waive any right to punitive damages. All parties agree to irrevocably waive their respective rights to a jury trial of any cause of action, claim, counterclaim, or cross-complaint in any action or proceeding and/or hearing brought by either party against the other on any matter whatsoever arising out of these Terms & Conditions or any agreement between you and DST. In the event that the arbitration clause contained herein is deemed invalid by a court of law, each party agrees that any suit, action or proceeding arising out of or relating to this Agreement shall be subject to the exclusive jurisdiction of the state and/or federal courts located in the County of New York, State of New York. Each party waives any objection which it may have now or hereafter to the laying of the venue in the County of New York, State of New York of such action or proceeding and irrevocably submits to the personal jurisdiction of any such court in any such suit, action or proceeding.

WAIVER OF JURY TRIAL AND PUNITIVE DAMAGES. In A. Each of the event parties irrevocably and unconditionally (i) agrees that any legal suit, action or proceeding brought by a party hereto arising out of or based upon this Charter, except for an in rem action against the Vessel, shall exclusively be brought in the United States District Court for the District of Nevada ("District of Nevada"), (ii) waives, to the fullest extent it may effectively do so, any objection with it may now or hereafter have to the laying of venue of any such proceeding brought in the District of Nevada, and any claim that any such action or proceeding brought in the District of Nevada has been brought in an inconvenient forum, (iii) submits to the exclusive jurisdiction of the District of Nevada in any suit, action or proceeding, and (iv) agrees that the losing party shall pay to the prevailing party the attorneys' fees and expenses incurred by the prevailing party in such action. If for any reason the District of Nevada lacks jurisdiction over a matter arising out of or based upon this Charter, excluding any in rem action against the Vessel, the District Court for the State of Nevada in Las Vegas, Nevada ("Nevada State Court") shall then have exclusive jurisdiction and all other provisions of this Article 21 shall remain valid and enforceable in such court. B. Each of the parties agrees and acknowledges that any controversy that may arise under this Charter, whether filed in the District of Nevada, the Nevada State Court or otherwise, is likely to involve complicated and difficult issues, and therefore each such party hereby irrevocably and unconditionally waives any right such party may have to a trial by jury in respect of any litigation directly or indirectly arising out of or relating to this Charter, or the breach, termination or validity of this Charter. C. Each of the parties hereby irrevocably and unconditionally waives any right it may have to claim and receive an award for punitive damages for any claim arising out of or relating to this contractCharter, or the breach thereofbreach, the parties hereto shall consult and negotiate with each other and, recognizing their mutual interests, attempt to reach a solution satisfactory to both parties. If they do not reach settlement within a period termination or validity of 60 days, then either party may, by written notice to the other party, demand mediation in New York, New York exclusively, before a mediator mutually agreed upon by the parties. If settlement is not reached within 60 days after service of a written demand for mediation, any unresolved controversy or claim arising out of or relating to this contract shall be finally resolved by arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules, and judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction. The arbitration will be conducted in the English language in the city of New York, New York, in accordance with the United States Arbitration Act. There shall be three arbitrators, named in accordance with such rules. Except as may be required by law or to the minimum information necessary for entry of judgment, neither a party nor its representatives may disclose the existence, content, or results of any arbitration hereunder without the prior written consent of all/both parties. To the extent allowed by applicable law, you agree that you will bring any claim or cause of action arising from or relating to the Agreement within two (2) years from the date on which such claim or action arose or accrued or such claim or cause of action will be irrevocably waived. In any case, DST shall not be liable for other than compensatory damages. Additionally, you hereby waive any right to punitive damages. All parties agree to irrevocably waive their respective rights to a jury trial of any cause of action, claim, counterclaim, or cross-complaint in any action or proceeding and/or hearing brought by either party against the other on any matter whatsoever arising out of these Terms & Conditions or any agreement between you and DST. In the event that the arbitration clause contained herein is deemed invalid by a court of law, each party agrees that any suit, action or proceeding arising out of or relating to this Agreement shall be subject to the exclusive jurisdiction of the state and/or federal courts located in the County of New York, State of New York. Each party waives any objection which it may have now or hereafter to the laying of the venue in the County of New York, State of New York of such action or proceeding and irrevocably submits to the personal jurisdiction of any such court in any such suit, action or proceedingCharter.