Section 5-1402. Choice of forum

1. Notwithstanding any act which limits or
  affects the right of a person  to  maintain  an  action  or  proceeding,
  including, but not limited to, paragraph (b) of section thirteen hundred
  fourteen  of the business corporation law and subdivision two of section
  two hundred-b of the banking law, any person may maintain an  action  or
  proceeding against a foreign corporation, non-resident, or foreign state
  where the action or proceeding arises out of or relates to any contract,
  agreement  or  undertaking  for  which a choice of New York law has been
  made in whole or in part pursuant to section 5-1401 and which (a)  is  a
  contract,   agreement   or  undertaking,  contingent  or  otherwise,  in
  consideration of, or  relating  to  any  obligation  arising  out  of  a
  transaction  covering  in  the  aggregate,  not  less  than  one million
  dollars, and (b) which contains a provision or provisions  whereby  such
  foreign corporation or non-resident agrees to submit to the jurisdiction
  of the courts of this state.
    2.  Nothing contained in this section shall be construed to affect the
  enforcement of any provision respecting choice of  forum  in  any  other
  contract, agreement or undertaking.