Applicable Usury Law definition

Applicable Usury Law has the meaning set forth in Section 2.9(b) hereof.

Applicable Usury Law the usury law chosen by the parties pursuant to the terms of paragraph 9.10 or such other usury law which is applicable if such usury law is not.

Applicable Usury Law means all federal and state usury Laws applicable to the Loans, the Indebtedness, this Agreement and the other Loan Documents.

Examples of Applicable Usury Law in a sentence

• It is the intent of the parties hereto to comply with the Applicable Usury Law.

• It is the intent of the parties to comply with the usury law ("Applicable Usury Law") applicable pursuant to the terms of the preceding paragraph or such other usury law which is applicable if the law chosen by the parties is not applicable.

• Accordingly, notwithstanding any provisions to the contrary in the Loan Documents, in no event shall the Loan Documents require the payment or permit the collection of interest in excess of the maximum contract rate permitted by the Applicable Usury Law.

• Accordingly, it is agreed that notwithstanding any provisions to the contrary in the Loan Documents, or in any of the documents securing payment hereof or otherwise relating hereto, in no event shall the Loan Documents or such documents require the payment or permit the collection of interest in excess of the maximum contract rate permitted by the Applicable Usury Law.

• In addition, if, from any circumstance whatever, Holder should ever receive as interest an amount which would exceed the highest lawful rate under the Applicable Usury Law, then the amount which would be excessive interest shall be applied as an optional reduction of principal (or, at Holder's option, be paid over to Borrower), and will not be counted as interest.

More Definitions of Applicable Usury Law

Applicable Usury Law the usury law applicable pursuant to the terms of Paragraph 15.8 hereof or such other usury law which is applicable -------------- if the law chosen by the parties in Paragraph 15.8 hereof is not -------------- applicable.

Applicable Usury Law the usury law chosen by the parties pursuant to the terms of paragraph 9.11 or such other usury law which is applicable if such usury law is not. "Articles of Organization": the charter, articles, operating agreement, joint venture agreement, partnership agreement, by-laws and any other written documents evidencing the formation, organization, governance and continuing existence of an entity.

Applicable Usury Law shall have the meaning provided in Section 2.10(c).

Applicable Usury Law means that law, if any, that is applicable to any particular Transaction and that limits the maximum non-usurious rate of interest that may be taken, contracted for, charged, reserved or received with respect to such Transaction, including the Federal laws of the United States of America, the laws of the State of New York, the laws of the State of Texas, and the laws of any other jurisdiction that may be mandatorily applicable to such Transaction notwithstanding other provisions of this Lease and the other Transaction Documents. As used herein, the term "interest" means interest as determined under Applicable Usury Law, regardless of whether denominated as interest in the Transaction Documents (except to the extent that this Section 34 specifically refers to interest denominated as interest). The right to accelerate maturity of any indebtedness evidenced by any Transaction Document, and the right to demand payment of the Adjusted Acquisition Cost does not include the right to accelerate any interest, or to receive any other amounts, which would cause the Transactions to be usurious under Applicable Usury Law. To the extent (if any) that Texas law determines the Maximum Rate, such Maximum Rate shall be determined by utilizing the indicated rate (weekly) ceiling from time to time in effect pursuant to Texas Revised Civil Statutes Annotated Article 5069-1.04, as amended. In no event will the provisions of Texas Revised Civil Statutes Annotated Articles 5069-2.01 through 5069-8.06 or 5069-15.01 through 5069-15.11 be applicable to the Transactions. All computations of the maximum amount allowed under Applicable Usury Law will be made on the basis of the actual number of days elapsed over a 365 or 366 day year, whichever is applicable pursuant to such Applicable Usury Law. The provisions of this Section 34 shall prevail over any contrary provisions in this Lease or any of the other Transaction Documents.

Applicable Usury Law means the laws of the State of Oklahoma or the federal laws of the United States applicable to this transaction, whichever laws allow the greater interest, as such laws now exist or may be changed or amended or come into effect in the future.

Applicable Usury Law the meaning specified in Section 2.17.

Applicable Usury Law means the law in effect as of the date hereof which is applicable to the Obligations and the payment of interest under this Agreement; provided, however, that in the event there is a change in the Applicable Usury Law or the application of such Applicable Usury Law which results in a higher permissible rate of interest, then this Agreement shall be governed by such new law as of its effective date; provided further, however, that in the event there is a change in Applicable Usury Law or the application of such Applicable Usury Law which requires that a lower permissible rate of interest be applicable to the Loans, then this Agreement shall be governed by such new law as of its effective date. The provisions of this Section 2.17 shall control every other provision of all Loan Documents among the Borrowers (or any of them), the Administrative Agent and the Lenders.