Waiver of Sovereign Immunity. Each Party expressly acknowledges and agrees that this Agreement is being executed as part of a private and commercial transaction. Each Party hereby waives, to the maximum extent permitted by applicable Law, for itself and its Affiliates, and for its and their assets and revenues, any and all immunity to the extent that it may at any time exist whether on grounds of sovereignty, state immunity or otherwise, from suit, arbitration, proceeding, jurisdiction of any court, adjudication, enforcement of arbitration award, judgment, service of process upon it or any agent, execution or judgment, set off, attachment or other interim relief before judgment or on judgment or other legal process, including, without limitation, the defences of “sovereign immunity”, and “act of state”, which such Party or its respective assets or revenues may now have or may in the future have under the applicable Laws of any jurisdiction, and such Party agrees not to assert any such immunity or defences in any proceedings with respect to this Agreement or in the enforcement of any award, judgment or execution resulting therefrom or from any transactions contemplated hereby or hereunder.
Appears in 16 contracts
Samples: Sale and Purchase Agreement, Sale and Purchase Agreement, Sale and Purchase Agreement
