Common use of Usury Clause in Contracts

Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 150 contracts

Samples: Note Purchase Agreement (Adagio Medical Holdings, Inc.), Note Purchase Agreement (ARYA Sciences Acquisition Corp IV), Note Subscription Agreement (Safe & Green Holdings Corp.)

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Usury. In the event If any interest is paid on this Note which that is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 19 contracts

Samples: Convertible Note (Assure Holdings Corp.), Note Purchase Agreement (Tree Roots Entertainment Group Co LTD), Note Purchase Agreement (Tree Roots Entertainment Group Co LTD)

Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 11 contracts

Samples: Note and Warrant Purchase Agreement, Note Purchase Agreement (PogoTec, Inc.), Note and Warrant Purchase Agreement (PogoTec, Inc.)

Usury. In the event any interest Interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest Interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal Principal Amount of this Note.

Appears in 11 contracts

Samples: Senior Secured Promissory Note (Miso Robotics, Inc.), Senior Secured Promissory Note (Miso Robotics, Inc.), Senior Secured Promissory Note (Miso Robotics, Inc.)

Usury. In the event any interest is paid on this Note which that is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 10 contracts

Samples: Convertible Promissory Note Purchase Agreement (XL Fleet Corp.), Secured Convertible Promissory Note (Bone Biologics Corp), Secured Convertible Promissory Note (Bone Biologics Corp)

Usury. In the event that any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 9 contracts

Samples: Convertible Promissory Note (Maverick Energy Group, Ltd.), Convertible Promissory Note (Maverick Energy Group, Ltd.), Convertible Promissory Note (Maverick Energy Group, Ltd.)

Usury. In the event any interest is paid on this Note which that is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall will be deemed a payment of principal and applied against the principal of this Note.

Appears in 4 contracts

Samples: Promissory Note (RoyaltyTraders LLC), Promissory Note (RoyaltyTraders LLC), Convertible Promissory Note (RoyaltyTraders LLC)

Usury. In the event If any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 3 contracts

Samples: Secured Subordinated Convertible Promissory Note (PureTech Health PLC), Secured Subordinated Convertible Promissory Note (PureTech Health PLC), Note and Warrant Purchase Agreement (American Shared Hospital Services)

Usury. In the event event, any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, rate then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 3 contracts

Samples: Note and Warrant Purchase Agreement (Amarantus BioSciences, Inc.), Note and Warrant Purchase Agreement (Amarantus BioSciences, Inc.), Note and Warrant Purchase Agreement (Jumpkicks, Inc.)

Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal the Principal Amount and applied against the principal Principal Amount of this Note.

Appears in 3 contracts

Samples: Participation and Repayment Priority Agreement (Orangehook, Inc.), Note (Orangehook, Inc.), Note Agreement (Orangehook, Inc.)

Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that the portion of the interest payment representing an amount in such excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 3 contracts

Samples: Note Purchase Agreement (Clean Energy Fuels Corp.), Note Purchase Agreement (Clean Energy Fuels Corp.), Note Purchase Agreement (Clean Energy Fuels Corp.)

Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 2 contracts

Samples: Promissory Note (Energys Group LTD), Senior Unsecured Convertible Promissory Note (Fitell Corp)

Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal Principal Amount and applied against the principal Principal Amount of this Note.

Appears in 2 contracts

Samples: Promissory Note (China Cablecom Holdings, Ltd.), Note Agreement (China Networks International Holdings LTD)

Usury. In the event any interest is paid on this Note Note, or a fee that is deemed interest, which is deemed to be in excess of the then then-applicable legal maximum rate, then that portion of the interest payment representing an amount in excess of the then then-applicable legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 1 contract

Samples: Note and Royalty Participation Right Purchase Agreement

Usury. In the event If any interest that is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 1 contract

Samples: Note (Jones Soda Co)

Usury. In the event any interest is paid on this Note which is deemed ----- to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 1 contract

Samples: Note and Warrant Purchase Agreement (Concentric Network Corp)

Usury. In the event that any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall will be deemed a payment of principal and applied against the principal of this Note.

Appears in 1 contract

Samples: Note Purchase Agreement (GlyEco, Inc.)

Usury. In the event any interest is paid on this Note the Notes which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Notethe Notes.

Appears in 1 contract

Samples: Note Purchase Agreement (Remark Holdings, Inc.)

Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall will be deemed a payment of principal and applied against the principal of this Note.

Appears in 1 contract

Samples: Securities Purchase Agreement (RXi Pharmaceuticals Corp)

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Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal Principal and applied against the principal Principal of this Note.

Appears in 1 contract

Samples: Promissory Note (Verb Technology Company, Inc.)

Usury. In the event any interest is Interest paid on this Subordinated Note which is deemed to be in excess of the then legal maximum rate, then that the portion of the interest Interest payment representing an amount in excess of the then legal maximum rate shall will be deemed a payment of principal and applied against the principal of this Subordinated Note.

Appears in 1 contract

Samples: Subordination Agreement (Skullcandy, Inc.)

Usury. In the event any interest is paid on this Note Note, or a fee that is deemed interest, which is deemed to be in excess of the then applicable legal maximum rate, then that portion of the interest payment representing an amount in excess of the then applicable legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 1 contract

Samples: Senior Convertible Promissory Note (Xspand Products Lab, Inc.)

Usury. In the event any interest is paid on this Subordinated Note which that is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Subordinated Note.

Appears in 1 contract

Samples: Secured Subordinated Convertible Promissory Note (Bone Biologics Corp)

Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then applicable legal maximum rate, then that portion of the interest payment representing an amount in excess of the then applicable legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 1 contract

Samples: Biodiesel Purchase Agreement (Imperium Renewables Inc)

Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.. Note - May 2013

Appears in 1 contract

Samples: Promissory Note (Lucas Energy, Inc.)

Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that the portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note.

Appears in 1 contract

Samples: Secured Convertible Promissory Note (Athena Bitcoin Global)

Usury. In the event any interest is paid on this Note a Note, or a fee that is deemed interest, which is deemed to be in excess of the then then-applicable legal maximum rate, then that portion of the interest payment representing an amount in excess of the then then-applicable legal maximum rate shall be deemed a payment of principal and applied against the principal of this such Note.

Appears in 1 contract

Samples: Note and Royalty Participation Right Purchase Agreement

Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this NoteNote and any excess payment shall be refunded.

Appears in 1 contract

Samples: Convertible Promissory Note (Quepasa Corp)

Usury. In the event any interest is paid on this Note which that is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note. Such addition interest shall be in addition to all costs and expenses recoverable by Holder under Section 18.

Appears in 1 contract

Samples: Agreement and Plan of Reorganization (Autotradecenter Com Inc)

Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this NoteNote in the inverse order of the maturities of such principal installments.

Appears in 1 contract

Samples: Note (Gibraltar Steel Corp)

Usury. In the event any interest is paid on this Note which is deemed to be in excess of the then legal maximum rate, then that portion of the interest payment representing an amount in excess of the then legal maximum rate shall be deemed a payment of principal and applied against the principal of this Note. With respect to this Note, the Company agrees to file any and all required notices and make any and all required disclosures as may be required under the applicable usury laws of all applicable jurisdictions.

Appears in 1 contract

Samples: Merger Agreement (Quantum Computing Inc.)