Extract to table

1 of the DFSA provides that the Agreement shall be governed by and construed in accordance with the laws of the State of Texas, without giving effect to any choice-of-law or conflict-of-laws provisions

3 provides that liquidated damages shall be the greater of 25% of the remaining commitment or $500,000

Although the defendant's failure to appear results in the admission of well-pleaded facts, the court must still satisfy itself that the allegations, taken as true, state a viable cause of action and support the relief sought

Fourth, even in the default judgment context, the judgment must be sustainable on appeal