Common use of Requirement to Arbitrate Clause in Contracts

Requirement to Arbitrate. Upon the demand of You or us, any Claim(s) will be resolved by individual (as opposed to class, consolidated, collective, or representative) binding arbitration under the terms specified in this Mutual Arbitration $JUHHPHQW $ ³&ODLP´ oVn XisEanMyHclFaiWm , cWauRs e oDfUacEtiLonW, dUisDpWutLe, or controversy between You and us (other than an Excluded Claim or Proceeding as defined below), whether preexisting, present, or future, which arises out of or relates to the Account, this Commercial Bank Services Agreement, any transaction conducted with us in connection with the Account or this Commercial %DQN 6HUYLFHV $JUHHPHQW RU DQ\ DVSHFW R has the broadest possible meaning and includes initial claims, counterclaims, cross -claims, third-party claims, and federal, state, local, and administrative claims. It includes disputes based in contract, tort, consumer rights, fraud, and other intentional torts, a state or the federal Constitution, statute, regulation, ordinance, common law, a nd equity, and LQFOXGHV FODLPV IRU PRQH\ GDPDJHV DQG LQMXQFWLYH RU GHFODUDWRU\ use or disclosure of information about You or us, as well as disputes concerning communications involving telephones, cell phones, automatic dialing systems, artificial or prerecorded voice messages, text messages, emails, or facsimile machines, such as alleged violations of the Telephone Consumer Protection Act and other statutes or regulations involving telemarketing. SpecLDO 'HILQLWLRQ RI ³:H ´ ³8V ´So le³ly2foXrUpu rp´o seDs QofGth is³M3uDtuUalWALrbHitrVat io´n Agreement, WKH WHUPV ³7UXLVW ´ ³ZH ´ ³XV ´ ³RXU ´ DQG ³3DUWCLoHmVm er´ci alLBQan kDGGLWLR Services Agreement, also refer to Truist Bank and its employees, agents, officers, directors, parents, controlling SHUVRQV VXEVLGLDULHV DIILOLDWHV SUHGHFHVVRUV VXFFHVVRUV DQG ³:H ´ ³XV ´ ³RXU ´ DQG ³3DpUarWtieLsHifVYo´u oDr TOruVisRt a sDseSrtSaOCl\ai mWaRga inWstKsuLcUh tGhird parties in connection with a Claim You assert against us or Truist asserts against You. Excluded Claims and Proceedings. 1RWZLWKVWDQGLQJ WKH IRUHJRLQJ ³&ODLP´io n GRHV Q EURXJKW E\ <RX RU XV LQ VPDOO FODLPV FRXUW RU <RXU VWDWH¶V HTXLY or appealed to a different court or the matter is not brought on an individual basis (i.e., a class, consolidated, collective, or representative basis). In addition, nothing in this Mutual Arbitration Agreement prevents You or us from exercising of any self-help rights, including set-off as described in the Commercial Bank Services Agreement section WLWOHG ³5LJKW RI id6uaHl WacRtioInIin c´ou rt$bQy \Yo uLorQuGs LthYat is limited to preventing the other party from using a self-help remedy and that does not involve a request for damages or monetary relief of any kind does not FRQVWLWXWH D ³&ODLP´ WKDW PXVtioWn anEdH/o r mDaUinEteLnaWnUceDoWf aHnGy su ch7rKigHht , aLctQioVn,WoLr lWitiXgation shall not constitute a waiver of the right of either of the Parties to compel arbitration regarding any other dispute subject to arbitration pursuant to this Mutual Arbitration Agreement. Mor HRYHU WKH WHUP ³&ODLP´ DOVR any disagreement over the arbitrability of a dispute, whether a dispute can or must be arbitrated, or whether this Mutual Arbitration Agreement or any aspect thereof is unenforceable, or any dispute regarding t he provisions labeled ³3U-$HUELWUDWLRQ 'LVSXWH 5HVROXWLRQ´ RU ³&ODVV &RQVROLGDWHG &ROOH whether they are unenforceable or have been breached; such disputes or issues must be decided only by a court of competent jurisdiction and not by an arbitrator or arbitration administrator.

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