Common use of Certificate Rate Limitation Clause in Contracts

Certificate Rate Limitation. Notwithstanding anything herein --------------------------- to the contrary, if at any time any Certificate Rate, together with all fees, charges and other amounts which are treated as interest on the Series 1999-1 Certificates, under applicable law (collectively the "Charges"), shall exceed ------- the maximum lawful rate (the "Maximum Rate") which may be contracted for, ------------ charged, taken, received or reserved by the Series 1999-1 Certificateholders in accordance with the terms hereof, then such Certificate Rate, together with all Charges payable in respect of the Series 1999-1 Certificates, shall be limited to the Maximum Rate and, to the extent lawful, such Certificate Rate and Charges that would have been payable in respect of the Series 1999-1 Certificates, but were not payable as a result of the operation of this Section, shall be cumulated and the Certificate Rate and Charges payable to such Series 1999-1 Certificateholders in respect of other periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Series 1999-1 Certificateholders.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Compucom Systems Inc), Safeguard Scientifics Inc Et Al, Compucom Systems Inc

AutoNDA by SimpleDocs

Certificate Rate Limitation. Notwithstanding anything herein --------------------------- to the contrary, if at any time any Certificate Rate, together with all fees, charges and other amounts which are treated as interest on the Series 19992000-1 Certificates, under applicable law (collectively the "Charges"), shall exceed ------- the maximum lawful rate (the "Maximum Rate") which may be contracted for, ------------ charged, taken, received or reserved by the Series 19992000-1 Certificateholders in accordance with the terms hereof, then such Certificate Rate, together with all Charges payable in respect of the Series 19992000-1 Certificates, shall be limited to the Maximum Rate and, to the extent lawful, such Certificate Rate and Charges that would have been payable in respect of the Series 19992000-1 Certificates, but were not payable as a result of the operation of this Section, shall be cumulated and the Certificate Rate and Charges payable to such Series 19992000-1 Certificateholders in respect of other periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Series 19992000-1 Certificateholders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Compucom Systems Inc)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.