Usury Savings Clause. Maker expressly agrees and acknowledges that Maker and Holder intend and agree that this Note shall not be subject to the usury laws of any state other than the State of Nevada. Notwithstanding anything contained in this Note to the contrary, if collection from Maker of interest at the rate set forth herein would be contrary to applicable laws, then the applicable interest rate upon default shall be the highest interest rate that may be collected from Maker under applicable laws at such time.
Appears in 10 contracts
Samples: Diamond Purchase Agreement (Precious Investments, Inc.), And Security Agreement (Secured Diversified Investment LTD), And Security Agreement (Secured Diversified Investment LTD)
Usury Savings Clause. Maker expressly agrees and acknowledges that Maker and Holder intend and agree that this Note shall not be subject to the usury laws of any state other than the State of Nevada. Notwithstanding anything contained in this Note to the contrary, if collection from Maker of interest at the rate set forth herein would be contrary to applicable lawslaws of such State, then the applicable interest rate upon default shall be the highest interest rate that may be collected from Maker under applicable laws at such time.
Appears in 8 contracts
Samples: Convertible Promissory Note and Security Agreement (IDS Solar Technologies, Inc.), Release and Indemnity Agreement (Sydys Corp), And Security Agreement (Crown Alliance Capital LTD)
