Limit on Interest. Notwithstanding anything in this Agreement to the contrary, no party shall be obligated to pay interest at a rate higher than the maximum rate permitted by applicable law. In the event that an interest rate provided in this Agreement exceeds the maximum rate permitted by applicable law, such interest rate shall be deemed to be reduced to such maximum permissible rate.
Appears in 5 contracts
Samples: Stock Purchase Agreement (Sands Regent), Agreement and Plan of Merger (Alliance Gaming Corp), Asset Purchase and Sale Agreement (Advanced Materials Group Inc)
Limit on Interest. Notwithstanding anything in this Agreement to the contrary, no party shall be obligated to pay interest at a rate higher than the maximum rate permitted by applicable law. In the event that at any time an interest rate provided in this Agreement exceeds the maximum rate permitted by applicable law, such interest rate shall be deemed to be reduced to such maximum permissible rate.
Appears in 4 contracts
Samples: Asset Purchase Agreement (Vdi Media), Asset Purchase Agreement (Vdi Media), Asset Purchase Agreement (Vdi Multimedia)
Limit on Interest. Notwithstanding anything in this Agreement to the contrary, no party shall be obligated to pay interest at a rate higher than the maximum rate permitted by applicable lawLaw. In the event that an interest rate provided in this Agreement exceeds the maximum rate permitted by applicable lawLaw, such interest rate shall be deemed to be reduced to such maximum permissible rate.
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