Common use of Interest Laws Clause in Contracts

Interest Laws. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to pay, and the Investor shall not be permitted to contract for, take, reserve, charge or receive, any compensation which constitutes interest under applicable law in excess of the maximum amount of interest permitted by law ("Excess Interest"). If any Excess Interest is provided for or determined in a final, non-appealable judgment by a court of competent jurisdiction to have been provided for in this Agreement or otherwise contracted for, taken, reserved, charged or received, then in such event: (A) the provisions of this Section shall govern and control; (B) the Company shall not be obligated to pay any Excess Interest; (C) any Excess Interest that the Investors may have contracted for, taken, reserved, charged or received hereunder shall be, at the Investor's option, (I) applied as a credit against the outstanding balance of the Note (not to exceed the maximum amount permitted by law), (II) refunded to the payor thereof, or (III) any combination of the foregoing; (D) the interest provided for shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable law (the "Maximum Rate"), and this Agreement shall be deemed to have been, and shall be, reformed and modified to reflect such reduction; and (E) the Company shall have no action against the Investors due to any Excess Interest. The terms of this Section shall be deemed incorporated into the Notes.

Interest Laws. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to pay, and the Investor shall not be permitted to contract for, take, reserve, charge or receive, any compensation which constitutes interest under applicable law in excess of the maximum amount of interest permitted by law ("Excess Interest"). If any Excess Interest is provided for or determined in a final, non-appealable judgment by a court of competent jurisdiction to have been provided for in this Agreement or otherwise contracted for, taken, reserved, charged or received, then in such event: (A) the provisions of this Section shall govern and control; (B) the Company shall not be obligated to pay any Excess Interest; (C) any Excess Interest that the Investors may have contracted for, taken, reserved, charged or received hereunder shall be, at the Investor's option, (I) applied as a credit against the outstanding balance of the April Note (not to exceed the maximum amount permitted by law), (II) refunded to the payor thereof, or (III) any combination of the foregoing; (D) the interest provided for shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable law (the "Maximum Rate"), and this Agreement shall be deemed to have been, and shall be, reformed and modified to reflect such reduction; and (E) the Company shall have no action against the Investors due to any Excess Interest. The terms of this Section shall be deemed incorporated into the April Notes.

Interest Laws. Notwithstanding any provision to the neither contrary contained in this AgreementAgreement or the other Loan Documents, the Company Borrower nor any other Loan Party (or Resources) shall not be required to pay, and the Investor Lender shall not be permitted to contract for, take, reserve, charge or receivecollect, any compensation which constitutes amount of interest under applicable law in excess of the maximum amount of interest permitted by law ("Excess Interest"). If any Excess Interest is provided for or determined in a final, non-appealable judgment by a court of competent jurisdiction to have been provided for in this Agreement or otherwise contracted for, taken, reserved, charged or receivedin any of the other Loan Documents, then in such event: (A1) the provisions of this Section subsection shall govern and control; (B2) the Company neither Borrower nor any other Loan Party (or Resources) shall not be obligated to pay any Excess Interest; (C3) any Excess Interest that the Investors Lender may have contracted for, taken, reserved, charged or received hereunder shall be, at the InvestorLender's option, (Ia) applied as a credit against the outstanding principal balance of the Note Obligations or accrued and unpaid interest (not to exceed the maximum amount permitted by law), (IIb) refunded to the payor thereof, or (IIIc) any combination of the foregoing; (D4) the interest rate(s) provided for herein shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable law (the "Maximum Rate"), and this Agreement and the other Loan Documents shall be deemed to have been, been and shall be, reformed and modified to reflect such reduction; and (E5) the Company neither Borrower nor any other Loan Party (or Resources) shall have no any action against the Investors due to Lender for any Excess Interest. The terms of this Section shall be deemed incorporated into the Notes.damages arising out of

Interest Laws. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to pay, and the Investor Lender shall not be permitted to contract for, take, reserve, charge or receive, any compensation which constitutes interest under applicable law in excess of the maximum amount of interest permitted by law ("“Excess Interest"”). If any Excess Interest is provided for or determined in a final, non-appealable judgment by a court of competent jurisdiction to have been provided for in this Agreement or otherwise contracted for, taken, reserved, charged or received, then in such event: (A) the provisions of this Section shall govern and control; (B) the Company shall not be obligated to pay any Excess Interest; (C) any Excess Interest that the Investors Lenders may have contracted for, taken, reserved, charged or received hereunder shall be, at the Investor's Lender’s option, (I) applied as a credit against the outstanding balance of the Note (not to exceed the maximum amount permitted by law), (II) refunded to the payor thereof, or (III) any combination of the foregoing; (D) the interest provided for shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable law (the "“Maximum Rate"”), and this Agreement shall be deemed to have been, and shall be, reformed and modified to reflect such reduction; and (E) the Company shall have no action against the Investors Lenders due to any Excess Interest. The terms of this Section shall be deemed incorporated into the Notes.