Common use of Additional Sums Clause in Contracts

Additional Sums. Any Additional Sums paid by Maker to Lender, whether pursuant to this Loan Agreement, the Loan and Security Documents or any Secured Promissory Note or otherwise with respect to the indebtedness evidenced hereby, or with respect to the Security Agreement securing this Loan Agreement and the Secured Promissory Notes, or any other Security Document, which, under the law of the State of Arizona may be deemed to be interest with respect to such indebtedness, shall, for the purpose of any laws of the State of Arizona which may limit the maximum rate of interest to be charged with respect to such indebtedness, be payable by Maker as, and shall be deemed to be, additional interest, and for such purposes only, the agreed upon and contracted for rate of interest shall be the sum of the Stated Rate or the Default Rate, as applicable, plus the rate of interest resulting from the Additional Sums being considered as interest. Maker understands and believes that all transactions contemplated under this Loan Agreement and any of the Loan and Security Documents comply with the usury laws of Arizona; however, if any interest or other charges are ever deemed to exceed the maximum amount permitted by law, then: (i) the amount of interest or charges payable hereunder by Maker shall be reduced to the maximum amount permitted by law; and (ii) any excess amount previously collected from Maker which exceeded the maximum amount permitted by law will be credited against the outstanding principal indebtedness. If the principal indebtedness has already been paid, the excess amount paid will be refunded to Maker. If this paragraph becomes operative, the total unpaid balance shall, at the option of Lender, become immediately due and payable and shall bear interest at a maximum rate then permitted by the applicable usury laws until all the then obligations of this Secured Promissory Note(s), as modified by this paragraph, are paid and performed in full. The acceleration provided in this paragraph may not be avoided by Maker and all parties liable to Lender on the Secured Promissory Note(s), waiving any and all usury claims and defenses they then have.

Additional Sums. Any All fees, additional interest, charges, points, loan origination fees, goods, things in action or any other sums or things of value, including any compensating balance requirements or other contractual obligations (collectively, the "Additional Sums Sums") paid by Maker to Lender, whether pursuant to this Loan Agreement, the Loan and Security Documents Agreement or any Secured Promissory Note or otherwise with respect to the indebtedness evidenced hereby, or with respect to the Security Agreement securing this Loan Agreement and the Secured Promissory Notes, or any other Security Document, which, under the law of the State of Arizona may be deemed to be interest with respect to such indebtedness, shall, for the purpose of any laws of the State of Arizona which may limit the maximum rate of interest to be charged with respect to such indebtedness, be payable by Maker as, and shall be deemed to be, additional interest, and for such purposes only, the agreed upon and contracted for rate of interest shall be the sum of the Stated Rate or the Default Rate, as applicable, plus the rate of interest resulting from the Additional Sums being considered as interest. Maker understands and believes that all transactions contemplated under this Loan Agreement and any of the Loan and Security Documents comply transaction complies with the usury laws of Arizona; however, if any interest or other charges are ever deemed to exceed the maximum amount permitted by law, then: (i) the amount of interest or charges payable hereunder by Maker shall be reduced to the maximum amount permitted by law; and (ii) any excess amount previously collected from Maker which exceeded the maximum amount permitted by law will be credited against the outstanding principal indebtedness. If the principal indebtedness has already been paid, the excess amount paid will be refunded to Maker. If this paragraph becomes operative, the total unpaid balance shall, at the option of LenderPayee, become immediately due and payable and shall bear interest at a maximum rate then permitted by the applicable usury laws until all the then obligations of this Secured Promissory Note(s)Note, as modified by this paragraph, are paid and performed in full. The acceleration provided in this paragraph may not be avoided by Maker and all parties liable to Lender Payee on the Secured Promissory Note(s)Note, waiving any and all usury claims and defenses they then have.

Additional Sums. Any All fees, charges, goods, things in action or any other sums or things of value, other than the interest resulting from the Stated Interest Rate and the Default Interest Rate (as those terms are defined in the Promissory Note, as applicable, paid or payable by Borrower (collectively, the “Additional Sums paid by Maker to LenderSums”), whether pursuant to the Promissory Note, this Loan Agreement, any of the other Loan and Security Documents or any Secured Promissory Note or otherwise with respect to the indebtedness evidenced herebythis lending transaction, or with respect to the Security Agreement securing this Loan Agreement and the Secured Promissory Notes, or any other Security Document, whichthat, under the law laws of the State of Arizona Arizona, may be deemed to be interest with respect to such indebtedness, shallthis lending transaction, for the purpose of any laws of the State of Arizona which that may limit the maximum rate amount of interest to be charged with respect to such indebtednessthis lending transaction, shall be payable by Maker Borrower as, and shall be deemed to be, additional interest, and for such purposes only, the agreed upon and “contracted for rate of interest interest” of this lending transaction shall be the sum of the Stated Rate or the Default Rate, as applicable, plus deemed to be increased by the rate of interest resulting from the Additional Sums being considered as interestSums. Maker Borrower understands and believes that all transactions contemplated under this Loan Agreement and any of the Loan and Security Documents comply lending transaction complies with the usury laws of the State of Arizona; however, if any interest or other charges in connection with this lending transaction are ever deemed determined to exceed the maximum amount permitted by law, thenthen Borrower agrees that: (ia) the amount of interest or charges payable hereunder by Maker pursuant to this lending transaction shall be reduced to the maximum amount permitted by law; and (iib) any excess amount previously collected from Maker which Borrower in connection with this lending transaction that exceeded the maximum amount permitted by law law, will be credited against the principal balance then outstanding principal indebtednesshereunder. If the outstanding principal indebtedness balance hereunder has already been paidpaid in full, the excess amount paid will be refunded to Maker. If this paragraph becomes operative, the total unpaid balance shall, at the option of Lender, become immediately due and payable and shall bear interest at a maximum rate then permitted by the applicable usury laws until all the then obligations of this Secured Promissory Note(s), as modified by this paragraph, are paid and performed in full. The acceleration provided in this paragraph may not be avoided by Maker and all parties liable to Lender on the Secured Promissory Note(s), waiving any and all usury claims and defenses they then haveBorrower.

Additional Sums. Any All fees, charges, goods, things in action or any other sums or things of value, other than the interest resulting from the Stated Interest Rate and the Default Interest Rate (as those terms are defined in the Promissory Note, as applicable, paid or payable by Borrower under the Loan Documents (collectively, the “Additional Sums paid by Maker to LenderSums”), whether pursuant to the Promissory Note, this Loan Agreement, any of the other Loan and Security Documents or any Secured Promissory Note or otherwise with respect to the indebtedness evidenced herebythis lending transaction, or with respect to the Security Agreement securing this Loan Agreement and the Secured Promissory Notes, or any other Security Document, whichthat, under the law laws of the State of Arizona Arizona, may be deemed to be interest with respect to such indebtedness, shallthis lending transaction, for the purpose of any laws of the State of Arizona which that may limit the maximum rate amount of interest to be charged with respect to such indebtednessthis lending transaction, shall be payable by Maker Borrower as, and shall be deemed to be, additional interest, and for such purposes only, the agreed upon and “contracted for rate of interest interest” of this lending transaction shall be the sum of the Stated Rate or the Default Rate, as applicable, plus deemed to be increased by the rate of interest resulting from the Additional Sums being considered as interestSums. Maker Borrower understands and believes that all transactions contemplated under this Loan Agreement and any of the Loan and Security Documents comply lending transaction complies with the usury laws of the State of Arizona; however, if any interest or other charges in connection with this lending transaction are ever deemed determined to exceed the maximum amount permitted by law, thenthen Borrower agrees that: (ia) the amount of interest or charges payable hereunder by Maker pursuant to this lending transaction shall be reduced to the maximum amount permitted by law; and (iib) any excess amount previously collected from Maker which Borrower in connection with this lending transaction that exceeded the maximum amount permitted by law law, will be credited against the principal balance then outstanding principal indebtednesshereunder. If the outstanding principal indebtedness balance hereunder has already been paidpaid in full, the excess amount paid will be refunded to Maker. If this paragraph becomes operative, the total unpaid balance shall, at the option of Lender, become immediately due and payable and shall bear interest at a maximum rate then permitted by the applicable usury laws until all the then obligations of this Secured Promissory Note(s), as modified by this paragraph, are paid and performed in full. The acceleration provided in this paragraph may not be avoided by Maker and all parties liable to Lender on the Secured Promissory Note(s), waiving any and all usury claims and defenses they then haveBorrower.