IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT. To help the
government fight the funding of terrorism and money laundering activities,
Federal law requires all financial institutions to obtain, verify, and record
information that identifies each person or entity that opens an account,
including any deposit account, treasury management account, loan or other
extension of credit. We may ask for the name, address, date of birth, and other
information that will allow us to identify all Borrowers, principals and owners.
We may also ask to see your driver's license or other identifying documents.
19.
INDEMNIFICATION. Borrower hereby agrees to indemnify, defend
and hold DORSETT and its executive committees, parent affiliates, subsidiaries,
agents, directors, officers, participants, employees, agents and their
successors and assigns (collectively "Indemnified Parties") harmless against any
and all liabilities of any kind, nature or description and damages whether they
are direct, indirect or consequential, including attorney's fees and other
professionals and experts incurred or suffered directly or indirectly by
Indemnified Parties or asserted against Indemnified Parties by anyone whosoever,
including Borrower or Guarantor, which arise out of the Loan Documents or the
relationship and transaction between the Parties. This provision shall survive
the termination of this Agreement.
20.
JOINT AND SEVERAL OBLIGATIONS. If more than one person or
entity is named as Borrower in this Agreement, all Obligations, representations,
warranties, covenants and indemnities of Borrower set forth herein and in the
other Loan Documents shall be the joint and several obligations of such persons
and/or entities.
7
21.
JURISDICTION. BORROWER AGREES THAT ANY ACTION TO ENFORCE
BORROWER'S OBLIGATIONS TO DORSETT SHALL BE PROSECUTED EITHER IN THE CIRCUIT
COURT OF HARRIS COUNTY TEXAS OR THE UNITED STATES DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF TEXAS (UNLESS DORSETT, IN ITS SOLE DISCRETION, ELECTS SOME
OTHER JURISDICTION), AND BORROWER SUBMITS TO THE JURISDICTION OF ANY SUCH COURT
SELECTED BY DORSETT. BORROWER WAIVES ANY AND ALL RIGHTS TO CONTEST THE
JURISDICTION AND VENUE OF ANY ACTION BROUGHT IN THIS MATTER AND BORROWER MAY
BRING ANY ACTION AGAINST DORSETT ONLY IN THE CIRCUIT COURT FOR THE COUNTY OF
HARRIS OR THE FEDERAL COURT OR THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN
DISTRICT OF TEXAS.
22.
WAIVER. ALL PARTIES, INCLUDING BORROWER, EACH KNOWINGLY AND
VOLUNTARILY WAIVE ANY CONSTITUTIONAL RIGHT TO A TRIAL BY JURY WITH RESPECT TO
ANY CLAIM, DISPUTE OR CONFLICT BETWEEN THE PARTIES OR UNDER THE LOAN DOCUMENTS
AND AGREE THAT ANY LITIGATION SHALL BE HEARD BY A COURT OF COMPETENT
JURISDICTION SITTING WITHOUT A JURY. BORROWER ACKNOWLEDGES THAT IT HAS HAD THE
OPPORTUNITY TO REVIEW THE EFFECT OF THIS PROVISION WITH COUNSEL OF ITS CHOICE.
23.
RELEASE. BORROWER RELEASES AND FOREVER DISCHARGES DORSETT,
ITS AFFILIATES, OFFICERS, AGENTS, EMPLOYEES AND DIRECTORS FROM ANY AND ALL
CLAIMS OF ANY KIND WHATSOEVER FROM THE BEGINNING OF TIME TO DATE OF THIS
AGREEMENT.
The Parties have executed this Agreement as of the date and year first written
above.
DORSETT: BORROWER:
NEWTON DORSETT TRINITY SERVICES, LLC
a Louisiana
limited liability company
By: /s/ Newton