Common use of Waiver of Stay, Extension and Usury Laws Clause in Contracts

Waiver of Stay, Extension and Usury Laws. The Company and Subsidiaries covenant (to the extent that they may lawfully do so) that they will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury Law or other Law which would prohibit or forgive the Company or such Subsidiary from paying all or any portion of the principal and/or interest on the Notes wherever such Law is or may be enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Agreement and the Notes; and the Company and each of the Subsidiaries (to the extent that they may lawfully do so) hereby expressly waive all benefit or advantage of any such Law, and covenant that they will not, by resort to any such Law, hinder, delay or impede the execution of any power herein granted to the Holders, but will suffer and permit the execution of every such power as though no such law had been enacted.

Appears in 2 contracts

Samples: Securities Purchase Agreement (Intracel Corp), Securities Purchase Agreement (Intracel Corp)

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Waiver of Stay, Extension and Usury Laws. The Company and Subsidiaries covenant Each Borrower covenants (to the extent that they it may lawfully do so) that they will it shall not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, stay or extension law or any usury Law law or other Law which law that would prohibit or forgive the Company or such Subsidiary Borrowers from paying all or any portion of the principal and/or of, premium, if any, or interest on the Notes as contemplated herein, wherever such Law is or may be enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Agreement and the NotesAgreement; and the Company and each of the Subsidiaries (to the extent that they it may lawfully do so) each Borrower hereby expressly waive waives all benefit or advantage of any such Lawlaw, and covenant covenants that they will it shall not, by resort to any such Lawlaw, hinder, delay or impede the execution of any power herein granted to the HoldersLender or the Collateral Agent, but will shall suffer and permit the execution of every such power as though no such law had been enacted.

Appears in 1 contract

Samples: Third Secured Term Loan Agreement (MSX International Inc)

Waiver of Stay, Extension and Usury Laws. The Each of the Company and Subsidiaries the Guarantors covenant (to the extent that they may lawfully do sopermitted by applicable law) that they it will not at any time insist upon, or plead, plead or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury Law law or other Law which would prohibit or forgive the Company or such Subsidiary from paying all or any portion of the principal and/or interest on the Notes law wherever such Law is or may be enacted, now or at any time hereafter in force, which would prohibit or forgive the Company or any Guarantor from paying all of any portion of the principal of (premium, if any, on) or interest on the Notes as contemplated herein, or which may affect the covenants or the performance of this Agreement and the NotesIndenture; and the Company and each of the Subsidiaries (to the extent that they it may lawfully do so) each of the Company and the Guarantors hereby expressly waive all benefit or advantage of any such Lawlaw, and covenant covenants that they will not, by resort to any such Law, not hinder, delay or impede the execution of any power herein granted to the HoldersTrustee, but will suffer and permit the execution of every such power as though no such law had been enacted.

Appears in 1 contract

Samples: First Supplemental Indenture (Mariner Energy Inc)

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Waiver of Stay, Extension and Usury Laws. The Company and Subsidiaries covenant Each Borrower covenants (to the extent that they it may lawfully do so) that they will it shall not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, stay or extension law or any usury Law law or other Law which law that would prohibit or forgive the Company or such Subsidiary Borrowers from paying all or any portion of the principal and/or of, premium, if any, or interest on the Notes as contemplated herein, wherever such Law is or may be enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Agreement and the NotesAgreement; and the Company and each of the Subsidiaries (to the extent that they it may lawfully do so) each Borrower hereby expressly waive waives all benefit or advantage of any such Lawlaw, and covenant covenants that they will it shall not, by resort to any such Lawlaw, hinder, delay or impede the execution of any power herein granted to the HoldersLender, but will shall suffer and permit the execution of every such power as though no such law had been enacted.

Appears in 1 contract

Samples: Secured Term Loan Agreement (MSX International Inc)

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