Subscription Agreement Template
A subscription agreement template that governs the purchase and issuance of membership units, shares, or equity interests in a private placement offering.
Waiver of jury trial
A waiver of jury trial clause is a contractual agreement where parties involved consent to resolve any disputes through bench trial rather than a jury trial. This provision is often included to streamline legal proceedings and reduce the time and cost associated with jury trials.
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5 Waiver of jury trial examples
- Description
WAIVER OF JURY TRIAL. Borrower and Lender knowingly, voluntarily and irrevocably waive, to the fullest extent permitted by applicable law, any and all rights either may have to trial by jury in any legal proceeding based on, arising out of, or in any way related to this Agreement, the obligations, any notes, loan agreements, or any other loan document or agreement executed or contemplated to be executed in connection with any of the obligations; or any of the transactions contemplated hereby or thereby. This jury waiver also applies to any claim, counterclaim, cause of action or demand arising from or related to (i) any course of conduct, course of dealing, or relationship of Borrower, any obliger, or any other person with Lender or any employee, officer, director or assignee of Lender in connection with the obligations; or (ii) any statement (whether verbal or written) or actions of any person by or on behalf of Lender to Borrower, any obliger, or any other person in connection with the obligations, regardless of whether such cause of action or demand arises by contract, tort or otherwise. Borrower hereby acknowledges that this waiver of jury trial is a material inducement to the Lender in extending credit to the Borrower, that the Lender would not have extended such credit without this jury trial waiver, and that Borrower has been represented by an attorney or has had an opportunity to consult with an attorney in connection with this jury trial waiver and understands the legal effect of this waiver. Borrower further certifies that no person has represented to it, expressly or otherwise, that Lender or any other person would not, in the event of a legal proceeding, seek to enforce the foregoing waiver.
- Description
The Company’s Operating Agreement requires a waiver of jury trial. Sections 19.9.15 and 19.9.17 of the Company’s Operating Agreement require Members of the Company to waive their rights to a jury trial, including claims under U.S. Federal securities laws. Subject to the mediation and arbitration provisions described above, Members of the Company have a right to litigate claims through a court solely before a judge. These provisions may result in less favorable litigation outcomes than if a claim was heard in front of a jury. The enforceability of jury waiver provisions can be uncertain, and to the extent these provisions apply to federal securities laws claims, Investors cannot waive compliance with federal securities laws and associated rules and regulations.
- Description
4.4 Law; Consent to Jurisdiction; Waiver of Jury Trial. This Amendment shall be a contract made under the laws of the State of Minnesota, which laws shall govern all the rights and duties hereunder. This Amendment shall be subject to the Consent to Jurisdiction and Waiver of Jury Trial provisions of the Repurchase Agreement.
- Description
10. Waiver of Jury Trial. The terms and conditions set forth in the Note regarding the waiver of jury trial shall continue to apply.
- Description
Section 304. Waiver of Jury Trial. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS FIRST SUPPLEMENTAL INDENTURE OR THE TRANSACTION CONTEMPLATED HEREBY. [Signature page follows]
What is Waiver of Jury Trial?
A Waiver of Jury Trial is a contractual provision whereby the parties involved agree to forgo their right to a jury trial in the event of a legal dispute, opting instead for a bench trial, which is conducted by a judge rather than a jury. This waiver is typically part of a broader contract or legal agreement.
When should I use a Waiver of Jury Trial?
You might consider using a Waiver of Jury Trial when you wish to:
- Speed Up Legal Proceedings: Jury trials can be lengthy and more complex, potentially extending the duration of a legal dispute.
- Reduce Costs: Jury trials usually involve higher legal fees and costs due to their complexity and length.
- Ensure Expertise: A judge is more likely to have the legal expertise required to understand complex issues that a jury might not fully grasp.
- Control Risks: Jury verdicts can be unpredictable compared to decisions made by a judge.
This waiver is frequently used in commercial agreements where parties desire a more efficient resolution should a dispute arise.
How do I write a Waiver of Jury Trial?
When drafting a Waiver of Jury Trial, it’s crucial to clearly express the intent and agreement of both parties to waive their rights to a jury trial. A basic template could look like this:
We, the undersigned parties, hereby knowingly, voluntarily, and intentionally waive the right to a trial by jury in any litigation arising out of or relating to this agreement, including claims for breach of contract. This waiver applies to all parties and their successors.
Ensure that the wording is unambiguous and that all parties fully understand and agree to the waiver, often including a separate acknowledgment of the waiver in the document for clarity.
Which contracts typically contain a Waiver of Jury Trial?
Waiver of Jury Trial clauses are commonly found in:
- Commercial Contracts: Such as purchase and sale agreements, and service contracts, where business entities seek predictability and cost management.
- Loan and Credit Agreements: Financial institutions often include this clause to avoid the unpredictability of jury trials.
- Employment Contracts: Particularly in agreements involving arbitration or other methods of dispute resolution.
- Real Estate Contracts: Where disputes can involve complex issues more suited for judicial resolution rather than a jury.
The inclusion of a waiver in these types of contracts is typically motivated by a need for efficiency, cost management, and the specialized nature of disputes.
Templates refrencing "Waiver of jury trial"
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A waiver of liability clause releases one party from legal claims or damages that may arise from their actions or negligence. By agreeing to this clause, the other party acknowledges and accepts the risks involved, forfeiting their right to seek compensation.
Waiver of moral rights
A waiver of moral rights clause is an agreement where the creator of a work relinquishes their right to claim authorship and object to any derogatory treatments or modifications of their work. This clause allows the rights holder more flexibility in altering, using, or commercializing the work without the need for the creator's consent or potential claims of harm to the creator's reputation.
Waiver of presentment
A "waiver of presentment" clause in a contract indicates that a party expressly relinquishes the right to demand formal presentation or delivery of a negotiable instrument, like a check or promissory note, for payment or acceptance. This waiver allows the holder of the instrument to proceed with actions such as collection or enforcement without the necessity of formally presenting the document to the obligated party.
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