Each Party irrevocably waives, to the fullest extent it may effectively do so, any objection which it may now or hereafter have to the laying of venue of any such proceeding in the U.S. District Court for the Southern District of New York or in any New York state court sitting in New York, New York. Each Party irrevocably waives, to the fullest extent it may effectively do so, any objection that it may now or hereafter have to the exercise of personal jurisdiction by the U.S. District Court for the Southern District of New York or by any New York state court sitting in New York, New York over any such proceeding and irrevocably submits to the jurisdiction of such court in any such suit, action or proceeding.