Interest Adjustments. (a) If the provisions of this Agreement --------------------- or the Notes would at any time otherwise require payment by the Borrower to the Bank of any amount of interest in excess of the maximum amount then permitted by applicable law the interest payments shall be reduced to the extent necessary so that the Bank shall not receive interest in excess of such maximum amount. To the extent that, pursuant to the foregoing sentence, the Bank shall receive interest payments hereunder or under the Notes in an amount less than the amount otherwise provided, such deficit (hereinafter called the "Interest Deficit") will cumulate and will be carried forward (without interest) until the termination of this Agreement. Interest otherwise payable to the Bank hereunder and under the Notes for any subsequent period shall be increased by such maximum amount of the Interest Deficit that may be so added without causing the Bank to receive interest in excess of the maximum amount then permitted by applicable law. (b) The amount of the Interest Deficit shall be treated as a prepayment penalty and paid in full at the time of any optional prepayment by the Borrower to the Bank of all outstanding Loans. The amount of the Interest Deficit relating to the Notes at the time of any complete payment of the Notes at that time outstanding (other than an optional prepayment thereof) shall be cancelled and not paid.
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Sources: Loan Agreement (Firecom Inc)
Interest Adjustments. (a) If the provisions of this Agreement --------------------- Agreement, the Note, the L/C Documents, the B/A Documents or the Notes Import L/C Documents would at any time otherwise require payment by the Borrower to the Bank of any amount of interest in excess of the maximum amount then permitted by applicable law the interest payments shall be reduced to the extent necessary so that the Bank shall not receive interest in excess of such maximum amount. To the extent that, pursuant to the foregoing sentence, the Bank shall receive interest payments hereunder hereunder, under the Notes, under the L/C Documents, the B/A Documents or under the Notes Import L/C Documents in an amount less than the amount otherwise provided, such deficit (hereinafter called the "Interest Deficit") will cumulate accumulate and will be carried forward (without interest) until the termination of this Agreement. Interest otherwise payable by the Borrower to the Bank hereunder and hereunder, under the Notes Note or under the L/C Documents, the B/A Documents and the Import L/C Documents for any subsequent period shall be increased by such maximum amount of the Interest Deficit that may be so added without causing the Bank to receive interest in excess of the maximum amount then permitted by applicable law.
(b) The amount of the Interest Deficit shall be treated as a prepayment penalty and paid in full at the time of any optional prepayment by the Borrower to the Bank of all outstanding Loans. The amount of the Interest Deficit relating to the Notes at the time of any complete payment of the Notes at that time outstanding (other than an optional prepayment thereof) Maturity Date shall be cancelled and not paid.. ARTICLE IIA
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Interest Adjustments. (a) If the provisions of this Agreement --------------------- Agreement, the Notes or the Notes L/C Documents would at any time otherwise require payment by the Borrower to any Bank or the Issuing Bank of any amount of interest in excess of the maximum amount then permitted by applicable law the interest payments shall be reduced to the extent necessary so that such Bank or the Issuing Bank shall not receive interest in excess of such maximum amount. To the extent that, pursuant to the foregoing sentence, the Bank Agent shall receive interest payments hereunder on behalf of the Banks or the Issuing Bank hereunder, under the Notes or under the Notes L/C Documents in an amount less than the amount otherwise provided, such deficit (hereinafter called the "Interest Deficit") will cumulate and will be carried forward (without interest) until the termination of this Agreement. Interest otherwise payable to any Bank or the Issuing Bank hereunder and hereunder, under the Notes or under the L/C Documents for any subsequent period shall be increased by such maximum amount of the Interest Deficit that may be so added without causing such Bank or the Issuing Bank to receive interest in excess of the maximum amount then permitted by applicable law.
(b) The amount of the Interest Deficit shall be treated as a prepayment penalty and paid in full at the time of any optional prepayment by the Borrower to the Bank of all outstanding or any part of the Term Loans. The amount of the Interest Deficit relating to the Notes at the time of any complete payment of the Notes Term Loans at that time outstanding (other than an optional prepayment thereof) shall be cancelled and not paid.
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Interest Adjustments. (a) If the provisions of this Agreement --------------------- Agreement, the Notes or the Notes L/C Documents would at any time otherwise require payment by the Borrower to any Bank or the Issuing Bank of any amount of interest in excess of the maximum amount then permitted by applicable law the interest payments shall be reduced to the extent necessary so that such Bank or the Issuing Bank shall not receive interest in excess of such maximum amount. To the extent that, pursuant to the foregoing sentence, the Bank Agent shall receive interest payments hereunder on behalf of the Banks or the Issuing Bank hereunder, under the Notes or under the Notes L/C Documents in an amount less than the amount otherwise provided, such deficit (hereinafter called the "Interest Deficit") will cumulate and will be carried forward (without interest) until the termination of this Agreement. Interest otherwise payable by the Borrower to any Bank or the Issuing Bank hereunder and hereunder, under the Notes or under the L/C Documents for any subsequent period shall be increased by such maximum amount of the Interest Deficit that may be so added without causing such Bank or the Issuing Bank to receive interest in excess of the maximum amount then permitted by applicable law.
(b) The amount of the Interest Deficit shall be treated as a prepayment penalty and paid in full at the time of any optional prepayment by the Borrower to the Bank of all outstanding Loans. The amount of the Interest Deficit relating to the Notes at the time of any complete payment of the Notes at that time outstanding (other than an optional prepayment thereof) Maturity Date shall be cancelled and not paid.
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Interest Adjustments. (a) If the provisions of this Agreement --------------------- Agreement, the Notes or the Notes L/C Documents would at any time otherwise require payment by the Borrower to any Bank or the Issuing Bank of any amount of interest in excess of the maximum amount then permitted by applicable law the interest payments shall be reduced to the extent necessary so that such Bank or the Issuing Bank shall not receive interest in excess of such maximum amount. To the extent that, pursuant to the foregoing sentence, the Bank Agent shall receive interest payments hereunder on behalf of the Banks or the Issuing Bank hereunder, under the Notes or under the Notes L/C Documents in an amount less than the amount otherwise provided, such deficit (hereinafter called the "Interest Deficit") will cumulate accumulate and will be carried forward (without interest) until the termination of this Agreement. Interest otherwise payable by the Borrower to any Bank or the Issuing Bank hereunder and hereunder, under the Notes or under the L/C Documents for any subsequent period shall be increased by such maximum amount of the Interest Deficit that may be so added without causing such Bank or the Issuing Bank to receive interest in excess of the maximum amount then permitted by applicable law.
(b) The amount of the Interest Deficit shall be treated as a prepayment penalty and paid in full at the time of any optional prepayment by the Borrower to the Bank of all outstanding Loans. The amount of the Interest Deficit relating to the Notes at the time of any complete payment of the Notes at that time outstanding (other than an optional prepayment thereof) Maturity Date shall be cancelled and not paid.
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Interest Adjustments. (a) If the provisions of this Agreement --------------------- Agreement, the Notes or the Notes L/C Documents would at any time otherwise require payment by the a Borrower to any Bank or the Issuing Bank of any amount of interest in excess of the maximum amount then permitted by applicable law the interest payments shall be reduced to the extent necessary so that such Bank or the Issuing Bank shall not receive interest in excess of such maximum amount. To the extent that, pursuant to the foregoing sentence, the Bank Agent shall receive interest payments hereunder on behalf of the Banks or the Issuing Bank hereunder, under the Notes or under the Notes L/C Documents in an amount less than the amount otherwise provided, such deficit (hereinafter called the "Interest Deficit") will cumulate and will be carried forward (without interest) until the termination of this Agreement. Interest otherwise payable by an affected Borrower to any Bank or the Issuing Bank hereunder and hereunder, under the Notes or under the L/C Documents for any subsequent period shall be increased by such maximum amount of the Interest Deficit that may be so added without causing such Bank or the Issuing Bank to receive interest in excess of the maximum amount then permitted by applicable law.
(b) The amount of the Interest Deficit shall be treated as a prepayment penalty and paid in full at the time of any optional prepayment by the Borrower to the Bank ▇▇▇▇▇▇ of all outstanding or any part of the Term Loans. The amount of the Interest Deficit relating to the Notes at the time of any complete payment of the Notes Term Loans at that time outstanding (other than an optional prepayment thereof) shall be cancelled and not paid.
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Interest Adjustments. (a) If the provisions of this Agreement --------------------- or the Notes Note would at any time otherwise require payment by the Borrower to the Bank Lender of any an amount of interest in excess of the maximum amount then permitted by the law applicable law to the Loan, the interest payments to Lender shall be reduced to the extent necessary so that the Bank Lender shall not receive interest in excess of such maximum amount. To If, as a result of the extent thatforegoing, pursuant to the foregoing sentence, the Bank Lender shall receive interest payments hereunder or under the Notes Note in an amount less than the amount otherwise providedprovided hereunder, such deficit (hereinafter called the "Interest DeficitINTEREST DEFICIT") will will, to the fullest extent permitted by Requirements of Law, cumulate and will be carried forward (without interest) until the termination of this Agreement. Interest otherwise payable to the Bank Lender hereunder and under the Notes Note for any subsequent period shall be increased by such the maximum amount of the Interest Deficit that may be so added without causing the Bank Lender to receive interest in excess of the maximum amount then permitted by the law applicable lawto the Loan.
(b) The amount of the Interest Deficit relating to the Loan shall be treated as a prepayment penalty and paid in full at the time of any optional prepayment by the Borrower to the Bank of all outstanding Loans. The amount of the Interest Deficit relating Lender pursuant to the Notes at the time of any complete payment of the Notes at that time outstanding (other than an optional prepayment thereof) shall be cancelled and not paidSECTIONS 2.05 OR 2.
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Interest Adjustments. (a) If the provisions of this Agreement --------------------- or the Notes would at any time otherwise require payment by the Borrower to the Bank of any amount of interest in excess of the maximum amount then permitted by applicable law the interest payments shall be reduced to the extent necessary so that the Bank shall not receive interest in excess of such maximum amount. To the extent that, pursuant to the foregoing sentence, the Bank shall receive interest payments hereunder or under the Notes in an amount less than the amount otherwise provided, such deficit (hereinafter called the "Interest Deficit") will cumulate and will be carried forward (without interest) until the termination of this Agreement. Interest otherwise payable to the Bank hereunder and under the the
(b) Notes for any subsequent period shall be increased by such maximum amount of the Interest Deficit that may be so added without causing the Bank to receive interest in excess of the maximum amount then permitted by applicable law.
(bc) The amount of the Interest Deficit shall be treated as a prepayment penalty and paid in full at the time of any optional prepayment by the Borrower to the Bank of all outstanding Loans. The amount of the Interest Deficit relating to the Notes at the time of any complete payment of the Notes at that time outstanding (other than an optional prepayment thereof) shall be cancelled and not paid.
Appears in 1 contract
Sources: Loan Agreement (Innodata Corp)