Common use of Entire Agreement; Modifications; Time of Essence Clause in Contracts

Entire Agreement; Modifications; Time of Essence. This Agreement, together with the other Loan Documents, contain the entire agreement between Borrower and Lender relating to the Loan and supersede and replace all prior discussions, representations, communications and agreements (oral or written). If any documents relating to the Loan are in conflict, the Note shall control over this Agreement, and this Agreement shall control over all of the other documents. No Loan Document shall be modified, supplemented or terminated, nor any provision thereof waived, except by a written instrument signed by the party against whom enforcement thereof is sought, and then only to the extent expressly set forth in such writing. Time is of the essence with respect to all of Borrower’s obligations under the Loan Documents.

Appears in 2 contracts

Sources: Loan Agreement (CNL Hotels & Resorts, Inc.), Mezzanine Loan Agreement (CNL Hotels & Resorts, Inc.)