Maximum Effective Interest Rate. Notwithstanding any other provision of the Securities Purchase Agreement or this Note (including, for certainty, Section 4(b) (Redemption Right) and Section 5 (Rights Upon Fundamental Transaction And Change Of Control)), the effective rate of interest per annum may not exceed 25% and any payments otherwise required to be made to the Holder will be reduced as necessary for that purpose.
Appears in 3 contracts
Samples: Securities Purchase Agreement (Security Devices International Inc.), Trust Indenture (Security Devices International Inc.), Securities Purchase Agreement
Maximum Effective Interest Rate. Notwithstanding any other provision of the Securities Purchase Agreement Debentures or this Note Indenture (including, for certainty, Section 4(b) 2.21 (Redemption Rightof Debentures) and Section 5 ARTICLE 6 (Rights Upon Fundamental Transaction And Change Of of Control)), the effective rate of interest per annum may not exceed 25% and any payments otherwise required to be made to the Holder Holders will be reduced as necessary for that purpose. The Company will provide written direction to the Trustee regarding any applicable adjustments required to be made to payments pursuant to this Section 2.2(f).
Appears in 1 contract
Samples: Trust Indenture (Security Devices International Inc.)
