Common use of Genuine Pre Estimate of Losses Clause in Contracts

Genuine Pre Estimate of Losses. The Issuer acknowledges that all sums and interest (including sums and interest due or payable by the Issuer by way of Added Interest and Additional Interest) are reasonable and represent genuine pre estimates of the losses likely to be incurred by the Debenture Holders and the Debenture Trustee in the event of non-compliance by any Obligor. The monies advanced under the Debenture Documents are for a commercial transaction and all defences under any laws relating to charging of interest (including usury laws) are hereby irrevocably waived by the Issuer.

Genuine Pre Estimate of Losses. The Issuer acknowledges that all sums and interest (including sums and interest due or payable by the Issuer by way of Added Additional Interest and Additional Added Interest) are reasonable and represent genuine pre estimates of the losses likely to be incurred by the Debenture Holders and the Debenture Trustee in the event of non-compliance by any Obligor. The monies advanced under the Debenture Documents are for a commercial transaction and all defences under any laws relating to charging of interest (including usury laws) are hereby irrevocably waived by the Issuer.