OR OF INTENTION TO
ACCELERATE, PRESENTMENT AND DEMAND OR PROTEST, ALL OF WHICH ARE HEREBY EXPRESSLY
WAIVED; (2) WITHOUT NOTICE TO ANY OBLIGOR, TERMINATE THE COMMITMENT AND
ACCELERATE THE TERMINATION DATE; (3) SET OFF, IN ANY ORDER, AGAINST THE
INDEBTEDNESS OF ANY OBLIGOR UNDER THE LOAN DOCUMENTS ANY DEBT OWING BY BANK TO
THE OBLIGOR (WHETHER SUCH DEBT IS OWED INDIVIDUALLY OR JOINTLY), INCLUDING, BUT
NOT LIMITED TO, ANY DEPOSIT ACCOUNT, WHICH RIGHT IS HEREBY GRANTED BY EACH
OBLIGOR TO BANK; AND (4) EXERCISE ANY AND ALL OTHER RIGHTS PURSUANT TO THE LOAN
DOCUMENTS, AT LAW, IN EQUITY OR OTHERWISE.
NOTHING IN THIS AGREEMENT IS
INTENDED TO WAIVE OR VARY THE DUTIES OF BANK OR THE RIGHTS OF ANY OBLIGOR IN
VIOLATION OF SECTION 9.602 OF THE TEXAS BUSINESS AND COMMERCE CODE.
SECTION 6.03.
REMEDIES CUMULATIVE.
NO REMEDY, RIGHT OR POWER OF BANK IS
EXCLUSIVE OF ANY OTHER REMEDY, RIGHT OR POWER NOW OR HEREAFTER EXISTING BY
CONTRACT, AT LAW, IN EQUITY, OR OTHERWISE, AND ALL REMEDIES, RIGHTS AND POWERS
ARE CUMULATIVE.
ARTICLE VII.
MISCELLANEOUS.
SECTION 7.01.
NO WAIVER.
NO WAIVER OF ANY DEFAULT OR EVENT OF DEFAULT WILL
BE A WAIVER OF ANY OTHER DEFAULT OR EVENT OF DEFAULT.
NO FAILURE TO EXERCISE OR
DELAY IN EXERCISING ANY RIGHT OR POWER UNDER ANY LOAN DOCUMENT WILL BE A WAIVER
THEREOF, NOR SHALL ANY SINGLE OR PARTIAL EXERCISE OF ANY SUCH RIGHT OR POWER
PRECLUDE ANY FURTHER OR OTHER EXERCISE THEREOF OR THE EXERCISE OF ANY OTHER
RIGHT OR POWER.
THE MAKING OF ANY LOAN DURING EITHER THE EXISTENCE OF ANY
DEFAULT OR EVENT OF DEFAULT, OR SUBSEQUENT TO THE OCCURRENCE OF AN EVENT OF
DEFAULT WILL NOT BE A WAIVER OF ANY SUCH DEFAULT OR EVENT OF DEFAULT.
NO
AMENDMENT, MODIFICATION OR WAIVER OF ANY LOAN DOCUMENT WILL BE EFFECTIVE UNLESS
THE SAME IS IN WRITING AND SIGNED BY THE PERSON AGAINST WHOM SUCH AMENDMENT,
MODIFICATION OR WAIVER IS SOUGHT TO BE ENFORCED.
NO NOTICE TO OR DEMAND ON
12
ANY PERSON SHALL ENTITLE ANY PERSON TO ANY OTHER OR FURTHER NOTICE OR DEMAND IN
SIMILAR OR OTHER CIRCUMSTANCES.
SECTION 7.02.
NOTICES.
ALL NOTICES REQUIRED UNDER THE LOAN DOCUMENTS SHALL
BE IN WRITING AND EITHER DELIVERED AGAINST RECEIPT THEREFOR, OR MAILED BY
REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, IN EACH CASE ADDRESSED
TO THE ADDRESS SHOWN ON THE SIGNATURE PAGE HEREOF OR TO SUCH OTHER ADDRESS AS A
PARTY MAY DESIGNATE, OR BY FACSIMILE TO THE FACSIMILE NUMBER SHOWN ON THE LAST
PAGE (PROVIDED THAT A COPY OF SUCH FACSIMILE SHALL ALSO BE SENT BY REGISTERED OR
CERTIFIED MAIL, RETURN RECEIPT REQUESTED).
EXCEPT FOR THE NOTICES REQUIRED BY
SECTION 2.1, WHICH SHALL BE GIVEN ONLY UPON ACTUAL RECEIPT BY BANK, NOTICES
SHALL BE DEEMED TO HAVE BEEN GIVEN (WHETHER ACTUALLY RECEIVED OR NOT) WHEN
DELIVERED (OR, IF MAILED, ON THE NEXT BUSINESS DAY).
SECTION 7.03.
GOVERNING LAW.
UNLESS OTHERWISE SPECIFIED THEREIN, EACH LOAN
DOCUMENT IS GOVERNED BY THE LAWS OF THE STATE OF TEXAS AND THE APPLICABLE