Common use of Instruments Bearing Higher Interest Clause in Contracts

Instruments Bearing Higher Interest. When the payment of any monies hereby secured or intended so to be shall be further secured to the Bank by any xxxx of exchange, promissory note, draft receipt or other instrument reserving a higher rate of interest to be paid in respect thereof than that hereinbefore covenanted to be paid such higher rate of interest shall be payable in respect of such monies and nothing contained in or to be implied from these presents shall affect the right of the Bank to enforce and recover payment of such higher rate of interest or as the case may be the difference between such higher rate of interest and the rate of interest payable herein.

Instruments Bearing Higher Interest. When the payment of any monies moneys hereby secured or intended so to be shall be further secured to the Bank by any xxxx of exchange, exchange promissory note, note draft receipt or other instrument reserving a higher rate of interest to be paid in respect thereof than that hereinbefore covenanted to be paid such higher rate of interest shall be payable in respect of such monies moneys and nothing contained in or to be implied from these presents shall affect the right of or the Bank to enforce and recover payment of such higher rate of interest or as the case may be the difference between such higher rate of interest and the rate of interest payable hereinhereunder.

Instruments Bearing Higher Interest. When the payment of any monies hereby secured or intended so to be shall be further secured to the Bank by any xxxx of exchange, exchange promissory note, note draft trust receipt or other instrument reserving a higher rate of interest to be paid in respect thereof than that in the Loan Agreement and the Security Documents or hereinbefore covenanted to be paid such higher rate of interest shall be payable in respect of such monies and nothing contained in or to be implied from these presents this Assignment shall affect the right of the Bank to enforce and recover payment of such higher rate of interest or or, as the case may be be, the difference between such higher rate of interest and the rate of interest payable hereinwhich shall have been paid under the Loan Agreement and/or the Security Documents or hereunder.