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This excerpt taken from the FL 8-K filed May 21, 2008. . Governing Law; Submission to Jurisdiction.
(a) Each Letter of Credit and Section
2.16 shall be subject to the UCP and the ISP, with respect to commercial and
standby Letters of Credit respectively and, to the extent not inconsistent therewith,
the laws of the State of New York.
(b) SUBJECT TO CLAUSE (A) OF THIS SECTION, EACH LOAN DOCUMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. (c) Each Borrower hereby submits to the nonexclusive jurisdiction of the United States District Court for the Southern District of New York and of any New York State court sitting in New York City for purposes of all legal proceedings arising out of or relating to any Loan Document or the transactions contemplated thereby. Each Borrower irrevocably waives, to the fullest extent permitted by law, any objection which it may now or hereafter have to the laying of the venue of any such proceeding brought in such a court and any claim that any such proceeding brought in such a court has been brought in an inconvenient forum. |
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