Synectic Ventures I, LLC. v. Evi Corp.

These consolidated appeals involve an action by three investment funds to collect on a promissory note and foreclose on a security interest against defendant EVI Corporation (EVI) pursuant to the terms of a loan agreement. The dispute between the parties turns on whether an amendment to the loan agreement is binding on plaintiffs. The trial court entered a general judgment that dismissed plaintiffs’ claims on summary judgment, concluding that the parties had amended the loan agreement to extend the time for EVI to satisfy its obligations, and that EVI satisfied those obligations within the…