Chapter 346 Inapplicable Sample Clauses
The 'Chapter 346 Inapplicable' clause serves to explicitly state that the provisions of Chapter 346 of the relevant code or statute do not apply to the agreement or transaction in question. In practice, this means that any rules, requirements, or restrictions set forth in Chapter 346 are excluded from governing the parties' rights and obligations under this contract. For example, if Chapter 346 pertains to certain consumer protections or lending regulations, those would not be enforceable in this context. The core function of this clause is to clarify the legal framework that governs the agreement, thereby preventing unintended application of statutory provisions that the parties wish to exclude.
Chapter 346 Inapplicable. The Companies jointly and severally agree, pursuant to Chapter 346, that Chapter 346 (which regulates certain revolving credit loan accounts and revolving triparty accounts) shall not apply to the Obligations, and that none of the Senior Credit Notes nor any Advance shall be governed by Chapter 346 or subject to its provisions in any manner whatsoever.
Chapter 346 Inapplicable. The Borrower agrees, pursuant to Chapter 346 ("Chapter 346") of the Texas Finance Code, that Chapter 346 (which relates to open-end line of credit revolving loan accounts) shall not apply to the Obligations and that none of the Notes nor any Credit Extension shall be governed by Chapter 346 or subject to its provisions in any manner whatsoever.