Common use of Excessive Interest Clause in Contracts

Excessive Interest. It is the intention of the parties hereto to conform strictly to applicable usury laws and, anything herein or elsewhere to the contrary notwithstanding, the Obligations shall be subject to the limitation that the Borrower shall not be required to pay, and the Credit Parties shall not be entitled to charge or receive, any interest to the extent that such interest exceeds the maximum rate of interest which the Credit Parties are permitted by applicable Laws to contract for, charge or receive and which would not give rise to any claim or defense of usury. If, as a result of any circumstances whatsoever, performance of any provision hereof or of any of the Loan Documents shall, at the time performance of such provision is due, violate applicable usury law, then, ipso facto, the obligation to be performed shall be reduced to the highest lawful rate, and if, from any such circumstance, the Credit Parties shall ever receive interest or anything which might be deemed interest under applicable Laws which would exceed the highest lawful rate, the amount of such excess interest shall be applied to the reduction of the principal amount owing on account of the Notes or the amounts owing on other Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the Obligations, such excess shall be refunded to the Borrower.

Excessive Interest. It is the intention of the parties hereto to conform strictly to applicable usury laws and, anything herein or elsewhere to the contrary notwithstanding, the Secured Obligations shall be subject to the limitation that the Borrower no Issuer shall not be required to pay, and the Credit Parties Investor shall not be entitled to charge or receive, any interest to the extent that such interest exceeds the maximum rate of interest which the Credit Parties are Investor is permitted by applicable Laws Legal Requirements to contract for, charge or receive and which would not give rise to any claim or defense of usury. If, as a result of any circumstances whatsoever, performance of any provision hereof or of any of the Loan Transaction Documents shall, at the time performance of such provision is due, violate applicable usury law, then, ipso facto, the obligation to be performed shall be reduced to the highest lawful rate, and if, from any such circumstance, the Credit Parties Investor shall ever receive interest or anything which might be deemed interest under applicable Laws Legal Requirements which would exceed the highest lawful rate, the amount of such excess interest shall be applied to the reduction of the principal amount owing on account of the Notes applicable Note or the amounts owing on other Secured Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the Secured Obligations, such excess shall be refunded to the BorrowerIssuer entitled thereto.

Excessive Interest. It is the intention of the parties hereto to conform strictly to applicable usury laws and, anything herein or elsewhere to the contrary notwithstanding, the Obligations shall be subject to the limitation that the Borrower shall not be required to pay, and the Credit Secured Parties shall not be entitled to charge or receive, any interest to the extent that such interest exceeds the maximum rate of interest which the Credit Secured Parties are permitted by applicable Laws law to contract for, charge or receive and which would not give rise to any claim or defense of usury. If, as a result of any circumstances whatsoever, performance of any provision hereof or of any of the Loan Documents shall, at the time performance of such provision is due, violate applicable usury law, then, ipso facto, the obligation to be performed shall be reduced to the highest lawful rate, and if, from any such circumstance, the Credit Secured Parties shall ever receive interest or anything which might be deemed interest under applicable Laws Law which would exceed the highest lawful rate, the amount of such excess interest shall be applied to the reduction of the principal amount owing on account of the Notes or the amounts owing on other Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the Obligations, such excess shall be refunded to the Borrower.

Excessive Interest. It is the intention of the parties hereto to conform strictly to applicable usury laws Laws and, anything herein or elsewhere to the contrary notwithstanding, the Obligations shall be subject to the limitation that the Borrower shall not be required to pay, and the Credit Secured Parties shall not be entitled to charge or receive, any interest to the extent that such interest exceeds the maximum rate of interest which the Credit Secured Parties are permitted by applicable Laws Law to contract for, charge or receive and which would not give rise to any claim or defense of usury. If, as a result of any circumstances whatsoever, performance of any provision hereof or of any of the Loan Documents shall, at the time performance of such provision is due, violate applicable usury lawLaw, then, ipso facto, the obligation to be performed shall be reduced to the highest lawful rate, and if, from any such circumstance, the Credit Secured Parties shall ever receive interest or anything which might be deemed interest under applicable Laws Law which would exceed the highest lawful rate, the amount of such excess interest shall be applied to the reduction of the principal amount owing on account of the Notes or the amounts owing on other Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid principal balance of the Obligations, such excess shall be refunded to the Borrower.

Excessive Interest. It is the intention of the parties hereto to conform strictly to applicable usury laws and, anything herein or elsewhere to the contrary notwithstanding, the Obligations shall be subject to the limitation that the Borrower shall not be required to pay, and the Credit Parties Lenders shall not be entitled to charge or receive, any interest to the extent that such interest exceeds the maximum rate of interest which the Credit Parties Lenders are permitted by applicable Laws Law to 1 NTD: To be reviewed by Exelon. contract for, charge or receive and which would not give rise to any claim or defense of usury. If, as a result of any circumstances whatsoever, performance of any provision hereof or of any of the Loan other Financing Documents shall, at the time performance of such provision is due, violate applicable usury law, then, ipso facto, the obligation to be performed shall be reduced to the highest lawful rate, and if, from any such circumstance, the Credit Parties Lenders shall ever receive interest or anything which might be deemed interest under applicable Laws Law which would exceed the highest lawful rate, the amount of such excess interest shall be applied to the reduction of the principal amount owing on account of the Notes Note or the amounts owing on other Obligations and not to the payment of interest, or or, if such excessive interest exceeds the unpaid principal balance of the Obligations, such excess shall be refunded to the Borrower.