Washington Provisions Clause Samples
The "Washington Provisions" clause sets out specific terms and requirements that apply to contracts governed by the laws of the state of Washington. Typically, this clause addresses compliance with unique state statutes, such as consumer protection laws, data privacy regulations, or mandatory disclosures that are distinct to Washington. For example, it may require adherence to Washington’s specific notice periods or restrict certain types of liability waivers. The core function of this clause is to ensure that the contract remains enforceable and compliant with Washington state law, thereby reducing legal risk and clarifying obligations for parties operating within the state.
Washington Provisions. The following Washington provisions do not limit the express choice of New York law as set forth in Section 10.3 of this Agreement and the other Loan Documents. If and to the extent that, notwithstanding the choice of law provisions contained in this Agreement and the other Loan Documents, Washington law is held to govern this Agreement, any Mortgage Document encumbering a Property located in Washington or any other Loan Document:
(a) NOTICE REGARDING ORAL COMMITMENTS: ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, MODIFY LOAN TERMS OR TO FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON LAW.
(b) Notwithstanding anything herein to the contrary, Borrower hereby agrees, to the fullest extent permitted by law that Lender may determine to proceed against any collateral securing any of the Obligations by way of judicial or non-judicial foreclosure or any other lawful remedy for the enforcement of its rights, and the obligations of Borrower under this Agreement shall survive Lender’s exercise of any such right or remedy. Borrower understands that Lender’s exercise of its rights and remedies including a non-judicial foreclosure of a deed of trust encumbering Property in Washington State could impair, eliminate or destroy subrogation, reimbursement, contribution, indemnification and other rights Borrower may have against others for amounts paid by such them under the Loan Documents. Nevertheless, Borrower hereby waives and relinquishes any claim or defense based upon the loss of any such rights, election of remedies, discharge and satisfaction of the Obligations and, to the fullest extent permitted by Washington State law following a non-judicial foreclosure of any deed of trust encumbering Property in Washington State, any other claim or defense which may arise under applicable Washington State law. [No Further Text on This Page]
Washington Provisions