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Daily Archives: Sunday, November 1, 2020

Posted: November 1, 2020

“Notwithstanding” Clause in Indenture Controls Over Other Contract Terms

On October 22, 2020, the Court of Appeals issued a decision in CNH Diversified Opportunities Master Account, L.P. v. Cleveland Unlimited, Inc., 2020 NY Slip Op. 05976, holding that a “notwithstanding” clause controls over other contract terms, explaining: Defendants also argue that plaintiffs’ rights were not violated because the transaction was authorized by section 6.05... Read more »