Common use of Interest Laws Clause in Contracts

Interest Laws. Notwithstanding any provision to the neither contrary contained in this Agreement or the other Loan Documents, Borrower nor any other Loan Party (or Resources) shall be required to pay, and Lender shall not be permitted to collect, any amount of interest in excess of the maximum amount of interest permitted by law ("Excess Interest"). If any Excess Interest is provided for or determined by a court of competent jurisdiction to have been provided for in this Agreement or in any of the other Loan Documents, then in such event: (1) the provisions of this subsection shall govern and control; (2) neither Borrower nor any other Loan Party (or Resources) shall be obligated to pay any Excess Interest; (3) any Excess Interest that Lender may have received hereunder shall be, at Lender's option, (a) applied as a credit against the outstanding principal balance of the Obligations or accrued and unpaid interest (not to exceed the maximum amount permitted by law), (b) refunded to the payor thereof, or (c) any combination of the foregoing; (4) the interest rate(s) provided for herein shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable law (the "Maximum Rate"), and this Agreement and the other Loan Documents shall be deemed to have been and shall be, reformed and modified to reflect such reduction; and (5) neither Borrower nor any other Loan Party (or Resources) shall have any action against Lender for any damages arising out of

Interest Laws. Notwithstanding any provision to the neither contrary contained in this Agreement or the other Loan Documents, Borrower nor any other Loan Party (or Resources) shall not be required to pay, and Lender shall not be permitted to collect, any amount of interest in excess of the maximum amount of interest permitted by law ("“Excess Interest"”). If any Excess Interest is provided for or determined by a court of competent jurisdiction to have been provided for in this Agreement or in any of the other Loan Documents, then in such event: (1) the provisions of this subsection Section shall govern and control; (2) neither Borrower nor any other Loan Party (or Resources) shall not be obligated to pay any Excess Interest; (3) any Excess Interest that Lender may have received hereunder shall be, at Lender's ’s option, (a) applied as a credit against the outstanding principal balance of the Obligations due and owing to Lender (without any prepayment penalty or premium therefor) or for accrued and unpaid interest thereunder (not to exceed the maximum amount permitted by law), (b) refunded to the payor thereof, or (c) any combination of the foregoing; (4) the interest rate(s) provided for herein shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable law (the "“Maximum Rate"”), and this Agreement and the other Loan Documents shall be deemed to have been and shall be, reformed and modified to reflect such reduction; and (5) neither Borrower nor any other Loan Party (or Resources) shall have any action against Lender for any damages arising out ofand

Interest Laws. Notwithstanding any provision to the neither contrary contained in this Agreement or Agreement, the other Loan Documents, Borrower nor any other Loan Party (or Resources) Company shall not be required to pay, and Lender the Investor shall not be permitted to collectcontract for, take, reserve, charge or receive, any amount of compensation which constitutes interest under applicable law in excess of the maximum amount of interest permitted by law ("Excess Interest"). If any Excess Interest is provided for or determined in a final, non-appealable judgment by a court of competent jurisdiction to have been provided for in this Agreement or in any of the other Loan Documentsotherwise contracted for, taken, reserved, charged or received, then in such event: (1A) the provisions of this subsection Section shall govern and control; (2B) neither Borrower nor any other Loan Party (or Resources) the Company shall not be obligated to pay any Excess Interest; (3C) any Excess Interest that Lender the Investors may have contracted for, taken, reserved, charged or received hereunder shall be, at Lenderthe Investor's option, (aI) applied as a credit against the outstanding principal balance of the Obligations or accrued and unpaid interest April Note (not to exceed the maximum amount permitted by law), (bII) refunded to the payor thereof, or (cIII) any combination of the foregoing; (4D) the interest rate(s) provided for herein shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable law (the "Maximum Rate"), and this Agreement and the other Loan Documents shall be deemed to have been been, and shall be, reformed and modified to reflect such reduction; and (5E) neither Borrower nor any other Loan Party (or Resources) the Company shall have any no action against Lender for the Investors due to any damages arising out ofExcess Interest. The terms of this Section shall be deemed incorporated into the April Notes.

Interest Laws. Notwithstanding any provision to the neither contrary contained in this Agreement or Agreement, the other Loan Documents, Borrower nor any other Loan Party (or Resources) Company shall not be required to pay, and Lender the Investor shall not be permitted to collectcontract for, take, reserve, charge or receive, any amount of compensation which constitutes interest under applicable law in excess of the maximum amount of interest permitted by law ("Excess Interest"). If any Excess Interest is provided for or determined in a final, non-appealable judgment by a court of competent jurisdiction to have been provided for in this Agreement or in any of the other Loan Documentsotherwise contracted for, taken, reserved, charged or received, then in such event: (1A) the provisions of this subsection Section shall govern and control; (2B) neither Borrower nor any other Loan Party (or Resources) the Company shall not be obligated to pay any Excess Interest; (3C) any Excess Interest that Lender the Investors may have contracted for, taken, reserved, charged or received hereunder shall be, at Lenderthe Investor's option, (aI) applied as a credit against the outstanding principal balance of the Obligations or accrued and unpaid interest Note (not to exceed the maximum amount permitted by law), (bII) refunded to the payor thereof, or (cIII) any combination of the foregoing; (4D) the interest rate(s) provided for herein shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable law (the "Maximum Rate"), and this Agreement and the other Loan Documents shall be deemed to have been been, and shall be, reformed and modified to reflect such reduction; and (5E) neither Borrower nor any other Loan Party (or Resources) the Company shall have any no action against Lender for the Investors due to any damages arising out ofExcess Interest. The terms of this Section shall be deemed incorporated into the Notes.