Usury Savings Clause. Maker expressly agrees and acknowledges that Maker and Holder intend and agree that this Note shall not be subject to the usury laws of any state other than the State of Nevada. Notwithstanding anything contained in this Note to the contrary, if collection from Maker of interest at the rate set forth herein would be contrary to applicable laws, then the applicable interest rate upon default shall be the highest interest rate that may be collected from Maker under applicable laws at such time.
Appears in 11 contracts
Samples: Promissory Note and Security Agreement, Diamond Purchase Agreement (Precious Investments, Inc.), Purchase Money Promissory Note and Security Agreement (General Aircraft Inc.)
Usury Savings Clause. Maker expressly agrees and acknowledges that Maker and Holder intend and agree that this Note shall not be subject to the usury laws of any state other than the State of Nevada. Notwithstanding anything contained in this Note to the contrary, if collection from Maker of interest at the rate set forth herein would be contrary to applicable lawslaws of such State, then the applicable interest rate upon default shall be the highest interest rate that may be collected from Maker under applicable laws at such time.
Appears in 8 contracts
Samples: Secured Convertible Promissory Note (Globe Photos, Inc.), Secured Convertible Promissory Note (Globe Photos, Inc.), Subscription Agreement (Sydys Corp)
