No Usurious Interest. In the event that any interest rate(s) provided for in this Section 3.1, shall be determined to exceed any limitation on interest under any applicable Requirement of Law, such interest rate(s) shall be computed at the highest rate permitted by such Requirement of Law. Any payment by the Company 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 the affected Notes without prepayment premium or penalty, provided that if no such principal amount is outstanding, such excess shall be returned to the Company.
Appears in 4 contracts
Samples: Note Purchase Agreement (KonaTel, Inc.), Note Purchase Agreement (Neptune Wellness Solutions Inc.), Note Purchase Agreement (Neptune Wellness Solutions Inc.)
No Usurious Interest. In the event that any interest rate(s) provided for in this Section 3.1, 3.1 or otherwise in this Agreement shall be determined to exceed any limitation on interest under any applicable Requirement Requirements of Law, such interest rate(s) shall be computed at the highest rate permitted by such Requirement Requirements of Law. Any payment by the Company 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 the affected Notes without prepayment premium or penalty, provided that ; if no such principal amount is outstanding, such excess shall be returned to the CompanyBorrower.
Appears in 2 contracts
Samples: Note Purchase Agreement (Interactive Strength, Inc.), Note Purchase Agreement (FaceBank Group, Inc.)
No Usurious Interest. In the event that any interest rate(s) provided for in this Section 3.1, 2.6 shall be determined to exceed any limitation on interest under any applicable Requirement of Law, such interest rate(s) shall be computed at the highest rate permitted by such Requirement of applicable Law. Any payment by the Company 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 the affected Notes Note without prepayment premium or penalty, provided that ; if no such principal amount is outstanding, such excess shall be returned to the CompanyBorrowers.
Appears in 1 contract
Samples: Loan Agreement (Guerrilla RF, Inc.)
