2. We note your disclosure indicating that any dispute, controversy or claim that may arise between Boaz Energy and the trustee relating to the trust will be subject to binding arbitration. Please expand your disclosure to discuss the impact, if any, that the binding arbitration provision would have on the ability of trust unitholders to seek remedies outside the arbitration process, including with respect to any claims under the federal securities laws.
04/16/2018 (PermRock Royalty Trust)
In the event of any dispute or claim relating to or arising out of our employment relationship, you and the Company agree thatsuch dispute shall be resolved by final and binding arbitration in San Francisco, California conducted through JAMS before a single neutral arbitrator, in accordance with the JAMS employment arbitration rules then in effect. The decision of the arbitrator shall be final and binding on the parties, and judgment thereon may be entered in a court of competent jurisdiction.The parties acknowledge and agree that they are each waiving their rights to a jury trial in favor of having their disputes resolved by final and binding arbitration.The disputes that the parties agree to submit to final and binding arbitration include but are not limited to any statutory claims under any state or federal law, as well as any common law claims of harassment, discrimination, wrongful termination, retaliation, fraud, negligent misrepresentation, breach of contract and any statutory or common law claims for unpaid wages, commissions, bonus or other compensation.Notwithstanding anything to contrary herein, either party may seek a temporary restraining order, preliminary injunction or other provisional injunctive or declaratory relief in any court of competent jurisdiction at any time to ensure that the relief sought in arbitration is not rendered ineffectual by any interim harm.The Company will pay all arbitration fees.
11/07/2019 (CytomX Therapeutics, Inc.)
12/16/2020 (CNote Group, Inc.)
8.We note that Paragraph 8, Dispute Resolution, of Exhibit A to your Subscription Agreement contains binding arbitration and class action waiver provisions. We further note your risk factor on page 14 related to disputes arising under the CNote Notes being subject to binding arbitration. Please describe your binding arbitration and waiver of class action provisions here and disclose whether such provisions apply to claims under the federal securities laws. Further, please expand your risk factor disclosure to encompass the class action waiver and address any questions as to enforceability of such provisions under federal and state law. Additionally, please revise the Subscription Agreement to clarify whether these provisions apply to federal securities law claims and, if they do, state that investors cannot waive compliance with the federal securities laws and the rules and regulations promulgated thereunder by agreeing to these provisions.
12/16/2020 (CNote Group, Inc.)
The originator is required to repurchase Receivables from the trust as described under “Description of the Transfer and Servicing Agreements—Sale and Assignment of Receivables; Representations and Warranties.” Any Investor (each, a “requesting party”) may request that the originator repurchase any Receivable that does not satisfy the representations and warranties described under “Description of the Transfer and Servicing Agreements—Sale and Assignment of Receivables; Representations and Warranties.” In order to make a repurchase request, a requesting party will be required to provide a notice stating the request to the originator. If the repurchase request has not been fulfilled or otherwise resolved to the reasonable satisfaction of such requesting party within 180 days of the receipt of notice of the request by the originator, the requesting party may refer the matter, at its discretion, to mediation, non-binding arbitration or binding arbitration. The requesting party will be required to provide notice of its intention to refer the matter to mediation, non-binding arbitration or binding arbitration, as applicable, to the originator, with a copy to the issuing entity, the depositor, the owner trustee and the indenture trustee.
12/20/2018 (AMERICAN HONDA RECEIVABLES LLC)
Specifically, under Section 13 of our subscription agreement (the “Arbitration Provision”), either party may, at its sole election, require that the sole and exclusive forum and remedy for resolution of a claim be final and binding arbitration. We have not determined whether we will exercise our right to demand arbitration but reserve the right to make that determination on a case by case basis as claims arise. In this regard, the Arbitration Provision is similar to a binding arbitration provision as we are likely to invoke the Arbitration Provision to the fullest extent permissible.
07/09/2018 (FUNDRISE REAL ESTATE INVESTMENT TRUST, LLC)
33. We note your disclosure indicating that requesting parties may choose mediation, which will include non-binding arbitration.Please revise the language on page 135 to clarify that (i) the final determination of the arbitrator in binding arbitration will be final and non-appealable and (ii) by selecting binding arbitration, the requesting party is forfeiting itsright to sue in court.Please also make conforming changes to Section 3.4 of Exhibit4.5 Sale and Servicing Agreement. We have revised the disclosure on page 137 to address this comment and have made conforming changes to Section 3.4 of Exhibit4.5 Sale and Servicing Agreement.
11/04/2016 (EFCAR, LLC)
3.Binding Arbitration. Except as otherwise provided in this Agreement, or required by law, all remaining Disputes between the Parties that have not been resolved through conciliation or mediation shall be submitted to final and binding arbitration under the Federal Arbitration Act, 9 U.S.C. § 1 et seq. (rather than any state law arbitration statute or rule), before a single arbitrator in accordance with this section of the Agreement and the terms of the American Arbitration Association’s (AAA) then-applicable commercial arbitration rules.
09/05/2018 (BLACKSTAR ENTERPRISE GROUP, INC.)
The Lender and Ignite Funding agree that all controversies which may arise concerning any transaction or the construction, performance or breach of this Agreement or any agreement pertaining to trust deed investing, whether entered into prior, on or subsequent to the date hereof, shall be determined by non-binding arbitration. Any non-binding arbitration under this Agreement shall be conducted pursuant to the Federal Arbitration Act and the laws of the State of Nevada before the American Arbitration Association located in Clark County, Nevada in accordance with the rules of the selected organization.
02/23/2021 (Connect Invest II LLC)
(f) Remedies. This paragraph applies to any claim or dispute resolved through binding arbitration as provided in Section 11(c) above, and it applies to any action in a court of law in the event that a court or arbitrator of competent jurisdiction deems any party or claim in a dispute not subject to binding arbitration. Except as expressly limited in this paragraph, the parties to a dispute may be awarded any and all damages or other relief allowed for the claim in dispute by applicable federal or state law, including attorneys fees and expenses if such attorneys fees and expenses are deemed appropriate under applicable law. Exemplary or punitive damages may be awarded for claims arising under applicable federal or state statute(s) to the extent permitted under the applicable statute(s) or, for claims arising under common law, exemplary or punitive damages may be awarded but may not exceed three times the amount of compensatory damages. In the event that any court or arbitrator of competent jurisdiction deems the foregoing limitation on common law exemplary or punitive damages to be unenforceable or otherwise void under applicable law the remaining portion of this Section11 shall remain in full force and effect.
02/17/2017 (THRIVENT VARIABLE ANNUITY ACCOUNT I)
(h) Binding Arbitration. Any disputes regarding this Agreement, the granting or vesting of any shares of the Company and/or any related matters shall be settled by binding arbitration in accordance with any Mutual Agreement to Resolve Disputes and Arbitrate Claims between the Recipient and the Manager. In the absence of such an agreement, any such claims or disputes shall be resolved through binding arbitration before one arbitrator conducted under the rulesof JAMS in Boston, Massachusetts.
01/02/2018 (Industrial Logistics Properties Trust)
Our Management Agreement provides that any dispute arising thereunder may be referred to binding arbitration. As a result, we and our shareholders may not be able to pursue litigation in courts against our Manager for such disputes. In addition, the ability to collect attorneys' fees or other damages may be limited in the arbitration proceedings, which may discourage attorneys from agreeing to represent parties wishing to bring such litigation.
08/03/2017 (Tremont Mortgage Trust)
08/26/2020 (CNote Group, Inc.)
10.Mutual Agreement to Arbitrate. Binding Arbitration. The Optionee and the Company (on behalf of itself and each other SGRP Company) mutually consent and agree to the resolution by binding arbitration of any and all claims (whether under common law, statute, regulation or otherwise), that the Optionee may have against the Company, any other SGRP Company, or any of their respective Representatives, and all successors and assigns of any of them, or that the Company or other applicable SGRP Company might have against the Optionee, directly or indirectly arising under or involving this Contract oy the Option, in each case except for any Arbitration Exclusion as expressly provided (and defined) below. Except only for those Arbitration Exclusions, binding arbitration shall replace going before any government agency or a court for a judge or jury trial, and neither the Optionee, nor the Company nor any other applicable SGRP Company is permitted to bring any claim or action before any such entity. The Optionee and the Company (on behalf of itself and each other applicable SGRP Company) each waive the right to have a court or jury trial on any arbitrable claim. For clarity, the Company and at least one other applicable SGRP Company may (and sometimes will) all be involved in the same services or issues, and Optionee therefore agrees that any disputes that Optionee has with the Company or other SGRP Company shall be subject to binding arbitration as set forth in this Contract. "Arbitration Exclusion" shall mean any action, suit or other proceeding: (i) seeking any temporary or other injunction or restraining order or similar equitable relief in any jurisdiction; (ii) seeking any enforcement of any arbitration or court award or judgment in any jurisdiction; (iii) respecting any appeal of any lower court or arbitration decision; or (iv) any claim that as a matter of law is not arbitrable.
04/02/2021 (SPAR Group, Inc.)
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Binding Arbitration: All claims and disputes arising under or relating to this Agreement are to be settled by binding arbitration. The arbitration shall be conducted by Arbitration Resolution Services, Inc. (ARS) and the parties shall be bound by any and all rules of ARS and any award/decision rendered.
A binding arbitration provision is a written clause in an agreement, which requires that disputes between the relevant parties must be resolved by binding arbitration instead of in court. Arbitration is an alternative means of settling a dispute.How do you write an arbitration clause in a contract? ›
- In case a dispute arises, the parties mutually consent to appoint a sole arbitrator from the list of arbitrators mentioned in part __of the agreement within ____days from the date of the dispute.
- All the arbitration proceedings shall be conducted in (language).
The obvious advantage of including an arbitration clause in your contract before the dispute arises is that once the dispute does arise, you can force the dispute out of the court system, and you can force the other side to arbitrate.What is a simple example of arbitration? ›
Examples of arbitration clause use include: Example 1: Keeping divorce proceedings more private. Example 2: Settling disputes with insurance companies. Example 3: Working through issues with business partners.What is arbitration with example? ›
Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.What is arbitration clause in simple words? ›
It is a section of a contract that addresses the parties' rights and options in the event of a legal dispute over the contract. In most arbitration clauses, the parties agree not to sue each other. Instead, they will resolve their disputes through the arbitration process to avoid litigation.What are the key elements of an arbitration clause? ›
- An explicit referral of disputes to arbitration;
- The governing law of the arbitration agreement;
- The seat of arbitration;
- The rules governing the arbitration;
- The number of arbitrators and their method of selection (see Arbitrator appointment); and.
Binding arbitration means that the parties waive their right to a trial and agree to accept the arbitrator's decision as final. Generally, there is no right to appeal an arbitrator's decision. Non-binding arbitration means that the parties are free to request a trial if they do not accept the arbitrator's decision.What does an arbitration clause look like? ›
In the event a dispute shall arise between the parties to this [contract, lease, etc.], it is hereby agreed that the dispute shall be referred to United States Arbitration & Mediation for arbitration in accordance with United States Arbitration & Mediation Rules of Arbitration.
First, any valid arbitration agreement must reflect the conscious, mutual and free will of the parties to resort to arbitration and not to other means of dispute resolution, including State courts. The consent of both parties to submit their dispute to arbitration is the cornerstone of arbitration.What is the 3 arbitrators clause? ›
(3) Failing any agreement referred to in sub-section (2), in an arbitration with three arbitrators, each party shall appoint one arbitrator, and the two appointed arbitrators shall appoint the third arbitrator who shall act as the presiding arbitrator.What makes an arbitration clause unenforceable? ›
An arbitration provision is unenforceable if the contract violates public policy or precludes a party from recovering in arbitration what would be otherwise available in civil court. In Shotts v. OP Winter Haven, Inc., 86 So. 3d 456 (Fla.What is one of the biggest advantages of binding arbitration? ›
- Efficient and Flexible: Quicker Resolution, Easier to schedule. ...
- Less Complicated: Simplified rules of evidence and procedure. ...
- Privacy: Keep it out of the public eye. ...
- Impartiality: Choosing the “judge” ...
- Usually less expensive. ...
- Finality: The end of the dispute.
As a general matter, it is not a particularly good idea for employees to sign an arbitration agreement with their employer. As described in more detail above, employers prefer arbitration because it tends to benefit them. However, these benefits come at a cost: your rights as an employee.Is binding arbitration a good thing? ›
Arbitration is often resolved much more quickly than court proceedings, so attorney fees are reduced. Also, there are lower costs in preparing for the arbitration than there are in preparing for a jury trial. For binding arbitration, there are limited opportunities for appeal.Is binding arbitration good or bad? ›
While the process of arbitration is not necessarily a bad thing for employees, forced arbitration is. It namely deprives them of their rights to the civil justice system. Employees under forced arbitration file claims rarely.