Governing Law and Jurisdiction - Pledge GMSLA Provision

2018 Global Master Securities Lending Agreement (Pledge Version)
A Jolly Contrarian owner’s manual™

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Clause 23 in a Nutshell™

Use at your own risk, campers!

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Full text of Clause 23

23 Governing Law and Jurisdiction 23.1 This Agreement and any non-contractual obligations arising out of or in connection with this Agreement shall be governed by, and shall be construed in accordance with, English law. 23.2 The courts of England have exclusive jurisdiction to hear and decide any suit, action or Proceedings, and to settle any Disputes or any non-contractual obligation which may arise out of or in connection with this Agreement (respectively, Proceedings and Disputes) and, for these purposes, each Party irrevocably submits to the jurisdiction of the courts of England. 23.3 Each Party irrevocably waives any objection which it might at any time have to the courts of England being nominated as the forum to hear and decide any Proceedings and to settle any Disputes and agrees not to claim that the courts of England are not a convenient or appropriate forum. 23.4 Each Party hereby respectively appoints the person identified in paragraph 8 of the Schedule pertaining to the Relevant Party as its agent to receive on its behalf service of process in the courts of England. If such an agent ceases to be an agent of a Party, the Relevant Party shall promptly appoint, and notify the other Party of the identity of its new agent in England. view template