Maximum Payments. Nothing contained in this Note shall, or shall be deemed to, establish or require the payment of a rate of interest or other charges in excess of the maximum permitted by applicable law. In the event that the rate of interest required to be paid or other charges under this Note exceeds the maximum permitted by such law, any payments in excess of such maximum shall be credited against amounts owed by the Company to the Holder and thus refunded to the Company.
Appears in 13 contracts
Samples: Subordination Agreement (22nd Century Group, Inc.), Securities Purchase Agreement (Atomera Inc), Convertible Note (AgriVest Americas, Inc.)
Maximum Payments. Nothing contained in this Note Debenture shall, or shall be deemed to, establish or require the payment of a rate of interest or other charges in excess of the maximum permitted by applicable law. In the event that the rate of interest required to be paid or other charges under this Note Debenture exceeds the maximum permitted by such law, any payments in excess of such maximum shall be credited against amounts owed by the Company to the Holder and thus refunded to the Company.
Appears in 2 contracts
Samples: Convertible Security Agreement (Tanzanian Royalty Exploration Corp), Securities Purchase Agreement (Tanzanian Royalty Exploration Corp)
Maximum Payments. Nothing contained in this Note shall, or shall be deemed to, establish or require the payment of a rate of interest or other charges in excess of the maximum permitted by applicable law. In the event that the rate of interest required to be paid or other charges under this Note exceeds the maximum permitted by such law, any payments in excess of such maximum shall be credited against amounts owed by the Company Borrowers to the Holder and thus refunded to the CompanyBorrowers.
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