Common use of Stay Clause in Contracts

Stay. Extension and Usury Laws The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law that would prohibit or forgive the Company from paying all or any portion of the principal of or interest on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture; and the Company (to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted.

Appears in 5 contracts

Samples: Securities Purchase Agreement (Rockford Corp), Indenture (Electroglas Inc), Indenture (Electroglas Inc)

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Stay. Extension and Usury Laws The Company covenants and agrees (to the extent that it may lawfully do so) that it shall will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, and will use its best efforts to resist any attempts to claim or take the benefit of any stay, extension or usury law or other law that would prohibit or forgive the Company from paying all or any portion of the principal of or interest on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of its obligations under this IndentureAgreement or the Notes; and the Company (to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the TrusteeHolders, but will suffer and permit the execution of every such power as though no such law has been enacted.

Appears in 2 contracts

Samples: Note Purchase Agreement (Regent Assisted Living Inc), Note Purchase Agreement (Regent Assisted Living Inc)

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Stay. Extension and Usury Laws The Company DIMAC Holdings covenants and agrees (to the extent that it may lawfully do so) that it shall will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, and will use its best efforts to resist any attempts to claim or take the benefit of, any stay, extension or usury law or other law that would prohibit or forgive the Company from paying all or any portion of the principal of or interest on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of its obligations under this IndentureAgreement or the Notes; and the Company DIMAC Holdings (to the extent it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the TrusteeHolders, but will suffer and permit the execution of every such power as though no such law has been enacted.

Appears in 1 contract

Samples: Securities Purchase Agreement (DMW Worldwide Inc)

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