Common use of MAKER'S COVENANTS Clause in Contracts

MAKER'S COVENANTS. Maker agrees that (a) this instrument and the ----------------- rights and obligations of all parties hereunder shall be governed by and construed under the laws of the State of New York; (b) the obligation evidenced by this Note is an exempted transaction under the Truth-in-Lending Act, 15 X.X.X (X)0000, et seq. (1982); (c) said obligation constitutes a business loan for the -- ---- purpose of the application of any laws that distinguish between consumer loans and business loans and that have as their purpose the protection of consumers in the State of New York; (d) at the option of the Holder, the United States District Court for the Northern District of New York and any court of competent jurisdiction of the State of New York shall have jurisdiction in any action, suit or other proceeding arising out of or relating to any act taken or omitted hereunder or the enforcement of this Note or the Security Agreement, and Maker shall not assert in any such action, suit or other proceeding that it is not personally subject to the jurisdiction of the courts in (d) above, that the action, suit or other proceeding is brought in an inconvenient forum or that the venue of the action, suit or other proceeding is improper; and (e) it hereby waives any objections to venue.