The motion court correctly found that the no-action clause in the amendment to the Term Loan Agreement (TLA) barred all but the breach of contract claims, which allege that all or substantially all of the TLA collateral was transferred without unanimous approval; claims alleging the transfer of substantially all of the collateral without unanimous approval are a specifically delineated exception to the no-action clause (see Cortlandt St. Recovery Corp. v Bonderman,
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EATON VANCE MGT. v. WILMINGTON SAV. FUND SOCY., FSB
9095, 654397/17, 9094.
171 A.D.3d 626 (2019)
99 N.Y.S.3d 28
2019 NY Slip Op 03143
Eaton Vance Management et al., Appellants, et al., Plaintiffs, v. Wilmington Savings Fund Society, FSB, et al., Respondents, et al., Defendants.
Appellate Division of the Supreme Court of New York, First Department.https://leagle.com/images/logo.png
Decided April 25, 2019.
Decided April 25, 2019.
Appellate Division of the Supreme Court of New York, First Department.
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