Governing Law and Amendments. This Agreement shall be construed and enforced under the laws of the State of Tennessee applicable to contracts to be wholly performed in such State. No amendment, modification, termination or waiver of any provision of any Loan Document to which Obligors are a party, nor consent to any departure by any Obligor from any Loan Document to which it is a party, shall in any event be effective unless the same shall be in writing and signed by the Majority Lenders. It is understood, however, until there is an event of default by Obligors, the terms of the Notes may only be modified by the unanimous written consent of Lenders and Borrower.
Appears in 2 contracts
Samples: Loan Agreement (Dynagen Inc), Loan Agreement (Sb Merger Corp)
Governing Law and Amendments. This Agreement shall be construed and enforced under the laws of the State of Tennessee applicable to contracts to be wholly performed in such State. No amendment, modification, termination or waiver of any provision of any Loan Document to which Obligors are any Borrower is a party, nor consent to any departure by any Obligor Borrower from any Loan Document to which it is a party, shall in any event be effective unless the same shall be in writing and signed by the Majority Lenders. It is understood, however, until there is an event of default by Obligorsany Borrower, the terms of the Notes may only be modified by the unanimous written consent of Lenders and BorrowerLenders.
Appears in 1 contract
Governing Law and Amendments. This Agreement shall be construed and ---------------------------- enforced under the laws of the State of Tennessee applicable to contracts to be wholly performed in such State. No amendment, modification, termination or waiver of any provision of any Loan Document to which Obligors are Borrower is a party, nor consent to any departure by any Obligor Borrower from any Loan Document to which it is a party, shall in any event be effective unless the same shall be in writing and signed by the Majority Lenders. It is understood, however, until there is an event of default by ObligorsBorrower, the terms of the Notes may only be modified by the unanimous written consent of Lenders and BorrowerLenders.
Appears in 1 contract
Samples: Loan and Security Agreement (Act Teleconferencing Inc)
Governing Law and Amendments. This Agreement shall be construed and enforced under the laws of the State of Tennessee applicable to contracts to be wholly performed in such State. No amendment, modification, termination or waiver of any provision of any Loan Document to which Obligors Borrowers are a party, nor consent to any departure by any Obligor Borrowers from any Loan Document to which it is a party, shall in any event be effective unless the same shall be in writing and signed by the Majority Lenders. It is understood, however, until there is an event of default by Obligors, the The terms of the Notes may only be modified by the unanimous written consent of Lenders and BorrowerLenders.
Appears in 1 contract
Samples: Loan and Security Agreement (Ild Telecommunications Inc)