CLAUSES TO WATCH
Neither the Borrower nor any of its assets is entitled to any right of immunity on the grounds of sovereignty or otherwise from arbitration, suit, execution, or any other legal process with respect to its obligations under this Agreement, as case may be, in any jurisdiction.
This Agreement as well as the rights and obligations of the parties hereunder shall be governed by and construed in accordance with the laws of China
Any dispute arising out of or in connection with this Agreement shall be resolved through friendly consultation. If no settlement can be reached through a friendly consultation within 30 days after one party receiving the written notice concerning the dispute from the other party, each party shall have the right to submit such dispute to China International Economic and Trade Arbitration Commission (CIETAC) for arbitration.
The arbitration shall be carried out in accordance with CIETAC’S arbitration rules effective as of the date of submission. 15.4 Waiver
The Borrower irrevocably and unconditionally waives any objection which it may now have or hereafter have to the choice of CIETAC to resolve any dispute arising out of or relating to this Agreement. The Borrower also agrees that the arbitral award against it made by such arbitral tribunal shall be final and conclusive and may be enforced in other jurisdiction and that a certified or otherwise duly authenticated copy of the award shall be conclusive evidence of the fact and amount of its indebtedness.
The Borrower shall keep all the terms and conditions hereunder on in connections with this Agreement strictly confidential. Without the prior written consent of the Lender , the Borrower shall not disclose any information hereunder or in connection with this Agreement to any third party unless required by applicable law