Common use of Usury Savings Clause in Contracts

Usury Savings. It is the intent of Baylor and the Company in the execution and performance of this Agreement to remain in strict compliance with Applicable Law from time to time in effect. In furtherance thereof, Baylor and the Company stipulate and agree that none of the terms and provisions contained in this Agreement, or in any document securing or otherwise relating to this Agreement, shall ever be construed to create a contract to pay for the use, forbearance or detention of money with interest at a rate or in an amount in excess of the maximum rate or amount of interest permitted to be charged under Applicable Law. For purposes of this Agreement, “interest” shall include the aggregate of all charges that constitute “interest under Applicable Law that are contracted for, charged, reserved, received or paid under this Agreement or under any other document executed in connection herewith or pursuant hereto. The Company shall never be required to pay unearned interest and shall never be required to pay interest at a rate or in an amount in excess of the maximum rate or amount of interest that may be lawfully charged under Applicable Law, and the provisions of this paragraph shall control over all other provisions of this Agreement and any such other document which may be in apparent conflict herewith. If under any contingency the effective rate or amount of interest that would otherwise be payable under this Agreement would exceed the maximum rate or amount of interest Baylor is allowed by Applicable Law to charge, contract for, take, reserve or receive, or in the event Baylor shall charge, contract for, take, reserve or receive monies that

Usury Savings. It is the intent of Baylor and the Company in the execution and performance of this Agreement to remain in strict compliance with Applicable Law from time to time in effect. In furtherance thereof, Baylor and the Company stipulate and agree that none of the terms and provisions contained in this Agreement, or in any document securing or otherwise relating to this Agreement, shall ever be construed to create a contract to pay for the use, forbearance or detention of money with interest at a rate or in an amount in excess of the maximum rate or amount of interest permitted to be charged under Applicable Law. For purposes of this Agreement, “interest” shall include the aggregate of all charges that constitute “interest under Applicable Law that are contracted for, charged, reserved, received or paid under this Agreement or under any other document executed in connection herewith or pursuant hereto. The Company shall never be required to pay unearned interest and shall never be required to pay interest at a rate or in an amount in excess of the maximum rate or amount of interest that may be lawfully charged under Applicable Law, and the provisions of this paragraph shall control over all other provisions of this Agreement and any such other document which may be in apparent conflict herewith. If under any contingency the effective rate or amount of interest that would otherwise be payable under this Agreement would exceed the maximum rate or amount of interest Baylor is allowed by Applicable Law to charge, contract for, take, reserve or receive, or in the event Baylor shall charge, contract for, take, reserve or receive monies that

Usury Savings. It is Notwithstanding anything herein to the intent of Baylor contrary, if at any time the applicable interest rate, together with all fees and charges that are treated as interest under applicable law (collectively, the Company in the execution and performance of this Agreement to remain in strict compliance with Applicable Law from time to time in effect. In furtherance thereof“Charges”), Baylor and the Company stipulate and agree that none of the terms and provisions contained in this Agreement, as provided for herein or in any document securing or otherwise relating to this Agreement, shall ever be construed to create a contract to pay for the use, forbearance or detention of money with interest at a rate or in an amount in excess of the maximum rate or amount of interest permitted to be charged under Applicable Law. For purposes of this Agreement, “interest” shall include the aggregate of all charges that constitute “interest under Applicable Law that are contracted for, charged, reserved, received or paid under this Agreement or under any other document executed in connection herewith herewith, or pursuant heretootherwise contracted for, charged, received, taken or reserved by any of the Noteholders, shall exceed the maximum lawful rate (the “Maximum Rate”) that may be contracted for, charged, taken, received or reserved by such Noteholder in accordance with applicable law, the rate of interest payable hereunder, together with all Charges payable to such Noteholder, shall be limited to the Maximum Rate. The Company shall never be required to pay unearned In the event that the Noteholders ever receive any amount as a result of interest and shall never be required to pay interest at a rate or in an amount other Charges paid in excess of the maximum rate or Maximum Rate, such amount which would be excessive interest shall be applied to the reduction of interest that may be lawfully charged under Applicable Lawthe principal sum hereof, and if the principal sum is paid in full, any remaining excess shall forthwith be paid to the Company. VIATEL HOLDING (BERMUDA) LIMITED By: Name: Title: [FORM OF ASSIGNMENT] The undersigned Holder, hereby * to (herein called the “Assignee”), ** interest of the undersigned in this Note, with the effect and subject to the provisions set forth in this Note, such assignment to be effected by delivery of this paragraph shall control over all other provisions Note to the Company with this assignment properly completed in accordance with the terms and conditions of this Agreement Note, such transfer or assignment to become effective on, and not to be effective for any purpose until, the Company has acknowledged such other document which may be in apparent conflict herewith. If under any contingency transfer or assignment and executed and delivered a new Note to the effective rate or amount of interest that would otherwise be payable under this Agreement would exceed the maximum rate or amount of interest Baylor is allowed by Applicable Law to charge, contract for, take, reserve or receive, or (partial) Assignee registered in the event Baylor shall chargename of the (partial) Assignee (and, contract forin the case of a partial assignment, take, reserve or receive monies thata new Note to the undersigned Holder). Dated:

Usury Savings. It is the intent of Baylor the Company and the Company in the execution and performance of this Agreement Holder to remain contract in strict compliance with Applicable Law all applicable usury laws from time to time in effect. In furtherance thereof, Baylor the Holder and the Company hereby stipulate and agree that none of the terms and provisions no term or provision contained in this Agreement, Note or any other document or instrument now or hereafter executed in any document securing connection herewith shall ever create (or otherwise relating to this Agreement, shall ever be construed to create create) a contract to pay for the use, forbearance or detention of money with interest at a rate or in an amount in excess of the maximum nonusurious rate or amount of interest which Holder is permitted to be charged contract for, charge or receive under Applicable Law. For applicable law, and as to which the Company could not successfully assert a claim or defense of usury (the "Highest Lawful Rate"), and that for purposes of this Agreement, “hereof "interest” " shall include the aggregate of interest and all charges that which constitute “interest under Applicable Law applicable law that are contracted for, charged, reserved, taken, charged or received under or paid in connection with this Note. In the event that the maturity of this Note is accelerated by reason of any election of the Holder resulting from the occurrence of an Event of Default or otherwise, or in the event of any prepayment, then such consideration that constitutes interest may never include more than the maximum nonusurious amount permitted by applicable law, and excess interest, if any, provided for in or in connection with this Note shall be cancelled automatically as of the date of such acceleration or prepayment, and, if theretofore paid, shall be credited on the principal balance hereof and the balance thereof, if any, refunded to the Company. In the event Holder shall collect, charge contract for or receive moneys which are interest (and/or are deemed to constitute interest) at a rate in excess of the Highest Lawful Rate, all such sums in excess of the Highest lawful Rate shall be immediately credited against the outstanding principal balance of this Note, and the balance thereof, if any, returned to the Company upon such determination. All calculations of the rate of interest contracted for, charged or received under this Agreement Note or under any other document executed or in connection herewith or pursuant heretootherwise that are made for the purpose of determining whether such rate exceeds the Highest Lawful Rate shall be made, to the extent permitted by applicable usury laws, by amortizing, prorating and spreading in equal parts during the period of the full stated term of this Note all interest at any time contracted for, charged, collected or received by Holder in connection herewith. The Company shall never be required to pay unearned interest and shall never be required to pay interest at a rate or in an amount in excess of the maximum rate or amount of interest that may be lawfully charged under Applicable Law, and the provisions of this paragraph shall control over all other provisions of this Agreement Note and any such other document document, instrument or other agreement now or hereafter executed in connection herewith which may be in apparent conflict herewith. If under any contingency the effective rate or amount of interest that would otherwise be payable under this Agreement would exceed the maximum rate or amount of interest Baylor is allowed by Applicable Law to charge, contract for, take, reserve or receive, or in the event Baylor shall charge, contract for, take, reserve or receive monies that.