Common use of Judicial Procedures Clause in Contracts

Judicial Procedures. Judicial actions against the Corporation may only be filed before a court of competent jurisdiction in the territories of a Contracting Par- ty where the Corporation has an office, or where it has designated an agent or attorney-in-fact with power to accept service of process or notice of a judicial complaint, or where it may have issued or guar- antied any securities. The Contracting States hereof, the persons who represent them or who derive their rights therefrom, may not file a judicial action against the Corporation. However, the shareholders may enforce said rights according to the special procedures indicated herein or in the regulations of the In- stitution, or in the contracts that may be executed, in order to solve the controversies that arise among them and the Corporation.

Appears in 2 contracts

Sources: Agreement Establishing, Agreement Establishing