Common use of Defenses and Bankruptcy Clause in Contracts

Defenses and Bankruptcy. Any statute of limitations or other equitable or legal doctrine which would otherwise be applicable to any action brought by any of the parties shall be applicable in the Arbitration. In the event any party to this Agreement files a petition under the bankruptcy laws of the United States or has a petition filed against it which results in an order for relief or other indicia that a bankruptcy case has commenced, it is the express intention of the parties to this Agreement that this Agreement shall control and be enforced in accordance with is terms and conditions that any Claim shall remain subject to arbitration to the maximum extent permitted by law.