No Usurious Interest. In the event that any interest rate(s) provided for in this Note (or any other payment hereunder) shall be determined to be unlawful, such interest rate(s) (or other payment) shall be computed at the highest rate (or amount) permitted by applicable law. Any payment by the Borrower of any amount in excess of that permitted by law shall be considered a mistake, with the excess being applied to the principal amount of this Note without prepayment premium or penalty; if no such principal amount is outstanding, such excess shall be returned to Borrower.
Appears in 7 contracts
Samples: Omnireliant Holdings, Inc., Synergy Pharmaceuticals, Inc., Enlightened Gourmet, Inc.
No Usurious Interest. In the event that any interest rate(s) or premiums provided for in this Note (Section 2.06 or any other payment hereunder) otherwise in this Agreement, shall be determined to be unlawful, such interest rate(s) (or other payment) shall be computed at the highest rate (or amount) permitted by applicable lawApplicable Law. Any payment by the Borrower Credit Parties of any interest amount in excess of that permitted by law Applicable Law shall be considered a mistake, with the excess being applied to the principal amount of this Note the Notes without prepayment premium or penalty; if no such principal amount is outstanding, such excess shall be returned to Borrowerthe Credit Parties.
Appears in 3 contracts
Samples: Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc), Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc), Securities Purchase Agreement and Security Agreement (Fusion Telecommunications International Inc)
No Usurious Interest. In the event that any interest rate(s) provided for in this Note (or any other payment hereunder) Section 2.6 shall be determined to be unlawfulexceed any limitation on interest under applicable Law, such interest rate(s) (or other payment) shall be computed at the highest rate (or amount) permitted by applicable lawLaw. Any payment by the Borrower of any interest amount in excess of that permitted by law shall be considered a mistake, with the excess being applied to the principal amount of this the affected Note without prepayment premium or penalty; if no such principal amount is outstanding, such excess shall be returned to the Borrower.
Appears in 2 contracts
Samples: Loan Agreement (Guerrilla RF, Inc.), Loan Agreement (Guerrilla RF, Inc.)
No Usurious Interest. In the event that any interest rate(s) or premiums provided for in this Note (or any other payment hereunder) Section 2 shall be determined to be unlawful, such interest rate(s) (or other payment) shall be computed at the highest rate (or amount) permitted by applicable law. Any payment by the Borrower Borrowers of any interest amount in excess of that permitted by law shall be considered a mistake, with the excess being applied to the principal amount of this Note without prepayment premium or penalty; if no such principal amount is outstanding, such excess shall be returned to BorrowerBorrowers.
Appears in 2 contracts
Samples: Tb Woods Corp, Tb Woods Corp
No Usurious Interest. In the event that any interest rate(s) provided for in this Note (or any other payment hereunder) Section 2 shall be determined to be unlawful, such interest rate(s) (or other payment) shall be computed at the highest rate (or amount) permitted by applicable law. Any payment by the Borrower of any Interest amount in excess of that permitted by law shall be considered a mistake, with the excess being applied to the principal amount of this Note without prepayment premium or penalty; if no such principal amount is outstanding, such excess shall be returned to Borrower.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Transtechnology Corp), First Amendment Agreement (Transtechnology Corp)
No Usurious Interest. In the event that any interest rate(s) provided for in this Note (or any other payment hereunder) Section 2, shall be determined to be unlawful, such interest rate(s) (or other payment) shall be computed at the highest rate (or amount) permitted by applicable law. Any payment by the Borrower of any interest amount in excess of that permitted by law shall be considered a mistake, with the excess being applied to the principal amount of this Note without prepayment premium or penalty; if no such principal amount is outstanding, such excess shall be returned to the Borrower.
Appears in 1 contract
Samples: T Netix Inc
No Usurious Interest. In the event that any interest rate(s) provided for in this Note (or any other payment hereunder) Section 2.2, shall be determined to be unlawful, such interest rate(s) (or other payment) shall be computed at the highest rate (or amount) permitted by applicable law. Any payment by the Borrower of any interest amount in excess of that permitted by law shall be considered a mistake, with the excess being applied to the principal amount of this Note the Loan without prepayment premium or penalty; if no such principal amount is outstanding, such excess shall be returned to the Borrower.
Appears in 1 contract
Samples: Term Loan Agreement (Phillips Van Heusen Corp /De/)
No Usurious Interest. In the event that any interest rate(s) rate provided for in this Note (or any other payment hereunder) herein shall be determined to be unlawful, such interest rate(s) (or other payment) rate shall be computed at the highest rate (or amount) permitted by applicable law. Any payment by the Borrower of any interest amount in excess of that permitted by law shall be considered a mistake, with the excess being applied to the principal amount of this Note without prepayment premium or penalty; if no such principal amount is outstanding, such excess shall be returned to Borrower.
Appears in 1 contract
Samples: Mercury Air Group Inc
No Usurious Interest. In the event that any interest rate(s) provided for in this Note (or any other payment hereunder) Section 3.1, shall be determined to be unlawful, such interest rate(s) (or other payment) shall be computed at the highest rate (or amount) permitted by applicable law. Any payment by the Borrower of any interest amount in excess of that permitted by law shall be considered a mistake, with the excess being applied to the principal amount of this the Note without prepayment premium or penalty; if no such principal amount is outstanding, such excess shall be returned to the Borrower.
Appears in 1 contract
No Usurious Interest. In the event that any interest rate(s) provided for in this Note (or any other payment hereunder) Section 2 shall be determined to be unlawful, such interest rate(s) (or other payment) shall be computed at the highest rate (or amount) permitted by applicable law. Any payment by the Borrower of any interest amount in excess of that permitted by law shall be considered a mistake, with the excess being applied to the principal amount of this Note without prepayment premium or penalty; if no such principal amount is outstanding, such excess shall be returned to Borrower.
Appears in 1 contract
Samples: Castle Dental Centers Inc
No Usurious Interest. In the event that any interest rate(s) -------------------- provided for in this Note (or any other payment hereunder) Section 2, shall be determined to be unlawful, such interest rate(s) (or other payment) shall be computed at the highest rate (or amount) permitted by applicable law. Any payment by the Borrower of any interest amount in excess of that permitted by law shall be considered a mistake, with the excess being applied to the principal amount of this Note without prepayment premium or penalty; if no such principal amount is outstanding, such excess shall be returned to Borrower.
Appears in 1 contract
Samples: Medsource Technologies Inc
No Usurious Interest. In the event that any interest rate(s) provided for in this Note (or any other payment hereunder) Section 2 shall be determined to be unlawful, such interest rate(s) (or other payment) shall be computed at the highest rate (or amount) permitted by applicable law. Any payment by the Borrower Maker of any interest amount in excess of that permitted by law shall be considered a mistake, with the excess being applied to the principal amount of this Note without prepayment premium or penalty; if no such principal amount is outstanding, such excess shall be returned to BorrowerMaker.
Appears in 1 contract
Samples: PAV Republic, Inc.
