Common use of Basis for Arbitration Clause in Contracts

Basis for Arbitration. The parties hereto agree that the subject matter of this Agreement and any agreement that may be entered in connection herewith both involve and affect interstate commerce within the meaning of the commerce clause of the United States Constitution. This Agreement shall be irrevocable and is binding upon the parties and is subject to being specifically enforced.

Basis for Arbitration. The parties hereto agree that the subject matter of this Agreement and any agreement that may be entered in connection herewith both involve and affect interstate commerce within the meaning of the commerce clause of the United States Constitution. This Agreement Section 12(l) shall be irrevocable and is binding upon the parties and is subject to being specifically enforced.