Maximum Interest Amount. Any amount assessed or collected as interest under the terms of this Note will be limited to the maximum lawful amount of interest allowed by state or federal law, whichever is greater. Amounts collected in excess of the maximum lawful amount will be applied first to the unpaid Principal balance. Any remainder will be refunded to me.
Appears in 2 contracts
Sources: Promissory Note (LGL Group Inc), Promissory Note (LGL Group Inc)
Maximum Interest Amount. Any amount assessed or collected as interest under the terms of this Promissory Note will be limited to the maximum lawful amount of interest allowed by state or federal law, whichever is greater. Amounts collected in excess of the maximum lawful amount will be applied first to the unpaid Principal balance. Any Amount of the Promissory Note and any remainder will be refunded paid to methe Lender as an origination fee.
Appears in 2 contracts
Sources: Commercial Loan Agreement (Sysorex, Inc.), Commercial Loan Agreement (Sysorex, Inc.)
Maximum Interest Amount. Any amount assessed or collected as interest under the terms of this Promissory Note will be limited to the maximum lawful amount of interest allowed by state or federal law, whichever is greater. Amounts collected in excess of the maximum lawful amount will be applied first to the unpaid Principal balance. Any Amount of the Promissory Note and any remainder will be refunded paid to meLender as an origination fee.
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