Common use of Waiver of Jury Trial; Multiplied and Punitive Damages Clause in Contracts

Waiver of Jury Trial; Multiplied and Punitive Damages. Each of the Parties hereto irrevocably waives (i) any and all right to trial by jury with respect to any first party action filed by the other Party, and (ii) any right to punitive, incidental, consequential or multiplied damages, either pursuant to common law or statute, in each case in any legal proceedings arising out of or related to this Agreement or the transactions contemplated hereby (but not as to any action by one Party against the other seeking indemnification for a third party claim against the Party initiating the action, to the extent that such damages may be recoverable as part of the indemnification by the indemnified Party).