No Usury. Regardless of any other provision of this Agreement, the Note or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (i) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Note and not to the payment of interest, and (ii) if the loan evidenced by the Note has been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Note or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 17 contracts
Samples: And Security Agreement (Home Diagnostics Inc), Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.), Non Revolving Credit and Security Agreement (Unilife Corp)
No Usury. Regardless of any other provision of this Agreement, the Note or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (ia) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Note and not to the payment of interest, and (iib) if the loan Loan evidenced by the Note has have been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Note or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 3 contracts
Samples: Subordination Agreement (Peplin Inc), Revolving Loan Agreement (Kana Communications Inc), Revolving Loan Agreement (Kana Communications Inc)
No Usury. Regardless of any other provision of this Agreement, Agreement or the Note or in any other Loan DocumentNote, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (i) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Note and not to the payment of interest, and (ii) if the loan evidenced by the Note has been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Note or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 2 contracts
Samples: Subordinated Revolving Line of Credit Agreement (Echo Healthcare Acquisition Corp.), Subordinated Revolving Line of Credit Agreement (Echo Healthcare Acquisition Corp.)
No Usury. Regardless of any other provision of this Agreement, the Note Notes or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (i) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Note Notes and not to the payment of interest, and (ii) if the loan Loans evidenced by the Note has Notes have been or is are thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Note Notes or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 2 contracts
Samples: Loan and Security Agreement (Video Display Corp), Subordination Agreement (Video Display Corp)
No Usury. Regardless of any other provision of this Agreement, -------- the Note or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (ia) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Note and not to the payment of interest, and (iib) if the loan Loan evidenced by the Note has have been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Note or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 2 contracts
Samples: Voting Agreement (Broadbase Software Inc), Agreement and Plan of Merger (Kana Communications Inc)
No Usury. Regardless of any other provision of this Agreement, the Note Notes or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (ia) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the each Note and not to the payment of interest, and (iib) if the loan Loan evidenced by the such Note has been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Note or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 2 contracts
Samples: Master Loan Agreement (Asbury Automotive Group Inc), Master Loan Agreement (Asbury Automotive Group Inc)
No Usury. Regardless of any other provision of this Agreement, the Note or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (ia) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Note and not to the payment of interest, and (iib) if the loan Loan evidenced by the Note has have been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Note or the refunding of excess to be a complete settlement and acquittance thereof.. (remainder of this page intentionally left blank)
Appears in 2 contracts
Samples: Registration Rights Agreement (Micron Electronics Inc), Registration Rights Agreement (Interland Inc)
No Usury. Regardless of any other provision of this Agreement, the Note or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (ia) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Note and not to the payment of interest, and (iib) if the loan evidenced by the Note has been or is thereby paid in fullfall, the excess shall be returned to the party paying same, such application to the principal balance of the Note or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 1 contract
Samples: Loan and Security Agreement (Impax Laboratories Inc)
No Usury. Regardless of any other provision of this Loan Agreement, the Note or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (ia) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Note and not to the payment of interest, and (iib) if the loan evidenced by the Note has been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Note or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 1 contract
No Usury. Regardless of any other provision of this Agreement, -------- the Note Notes or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (i) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Note Notes and not to the payment of interest, and (ii) if the loan loans evidenced by the Note has Notes have been or is are thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Note Notes or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 1 contract
Samples: Loan and Security Agreement (Bradley Pharmaceuticals Inc)
No Usury. Regardless of any other provision of this Agreement, the Note or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (i) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Note and not to the payment of interest, and (ii) if the loan Loan evidenced by the Note has been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Note or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 1 contract
Samples: Loan Credit Agreement (Farrel Corp)
No Usury. Regardless of any other provision of this Agreement, the Note or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (i) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Note and not to the payment of interest, and (ii) if the loan Loan evidenced by the Note has have been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Note or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 1 contract
No Usury. Regardless of any other provision of this Agreement, the any Note or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (i) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the any Note and not to the payment of interest, and (ii) if the loan evidenced by the any Note has been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the such Note or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 1 contract
No Usury. Regardless of any other provision of this Agreement, the Term Note or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (i) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Term Note and not to the payment of interest, and (ii) if the loan evidenced by the Term Note has been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Term Note or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 1 contract
Samples: Second Lien Term Loan and Security Agreement (Innotrac Corp)
No Usury. Regardless of any other provision of this Agreement, the Note Notes or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (i) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Note Notes and not to the payment of interest, and (ii) if the loan Loans evidenced by the Note has Notes have been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Note Notes or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 1 contract
No Usury. Regardless of any other provision of this Agreement, the Amended and Restated Note or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (i) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the Amended and Restated Note and not to the payment of interest, and (ii) if the loan evidenced by the Amended and Restated Note has been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the Amended and Restated Note or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 1 contract
Samples: Credit and Security Agreement (Transact Technologies Inc)
No Usury. Regardless of any other provision of this Agreement, the any Note or in any other Loan Document, if for any reason the effective interest should exceed the maximum lawful interest, the effective interest shall be deemed reduced to, and shall be, such maximum lawful interest, and (i) the amount which would be excessive interest shall be deemed applied to the reduction of the principal balance of the applicable Note and not to the payment of interest, and (ii) if the loan evidenced by the such Note has been or is thereby paid in full, the excess shall be returned to the party paying same, such application to the principal balance of the such Note or the refunding of excess to be a complete settlement and acquittance thereof.
Appears in 1 contract
