CONFORMITY WITH LAW. It is the intention of [[Organization B:Organization]] and of [[Organization A:Organization]] to conform strictly to applicable usury and similar laws. Accordingly, notwithstanding anything to the contrary in this Note, it is agreed that the aggregate of all charges which constitute interest under applicable usury and similar laws that are contracted for, chargeable or receivable under or in respect of this Note, shall under no circumstances exceed the maximum amount of interest permitted by such laws, and any excess, whether occasioned by acceleration or maturity of this Note or otherwise, shall be canceled automatically, and if theretofore paid, shall be either refunded to [[Organization B:Organization]] or credited on the Principal Amount of this Note.
Section # Interest. (a) It is the intention of the parties hereto that the [[Organization E:Organization]] and each Bank shall conform strictly to Applicable Usury Laws from time to time in effect. Accordingly, if the transactions with the [[Organization E:Organization]] or any Bank contemplated hereby would be usurious under Applicable Usury Laws, then, in that event, notwithstanding anything to the contrary in this Agreement, the Notes, or any other agreement entered into in connection with or as security for this Agreement or the Notes, it is agreed as follows: # the aggregate of all consideration which constitutes interest under Applicable Usury Laws that is contracted for, taken, reserved, charged or received by the [[Organization E:Organization]] or such Bank, as the case may be, under this Agreement, the Notes, or under any other agreement entered into in connection with or as security for this Agreement or the Notes shall under no circumstances exceed the maximum amount allowed by such Applicable Usury Laws and any excess shall be canceled automatically and, if theretofore paid, shall at the option of the [[Organization E:Organization]] or such Bank, as the case may be, be credited by the [[Organization E:Organization]] or such Bank, as the case may be, on the principal amount of the obligations owed to the [[Organization E:Organization]] or such Bank, as the case may be, by the [[Organization A:Organization]] or refunded by the [[Organization E:Organization]] or such Bank, as the case may be, to the [[Organization A:Organization]], and # in the event that the maturity of any Advance or other obligation payable to the [[Organization E:Organization]] or such Bank, as the case may be, is accelerated or in the event of any required or permitted prepayment, then such consideration that constitutes interest under Applicable Usury Laws, may never include more than the maximum amount allowed by such Applicable Usury Laws and excess interest, if any to the [[Organization E:Organization]] or such Bank, as the case may be, provided for in this Agreement or otherwise shall be canceled automatically as of the date of such acceleration or prepayment and, if theretofore paid, shall, at the option of the [[Organization E:Organization]] or such Bank, as the case may be, be credited by the [[Organization E:Organization]] or such Bank, as the case may be, on the principal amount of the obligations owed to the [[Organization E:Organization]] or such Bank, as the case may be, by the [[Organization A:Organization]] or refunded by the [[Organization E:Organization]] or such Bank, as the case may be, to the [[Organization A:Organization]].
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.