Common use of Interest Laws Clause in Contracts

Interest Laws. Notwithstanding any provision to the contrary contained in this Loan Agreement or any Other Agreement, Borrower shall not be required to pay, and Lender shall not be permitted to collect, any amount of interest in excess of the maximum amount of interest permitted by applicable law (“Excess Interest”). If any Excess Interest is provided for or determined by a court of competent jurisdiction to have been provided for in this Loan Agreement or in any Other Agreement, then in such event: (1) the provisions of this subsection shall govern and control; (2) Borrower shall not be obligated to pay any Excess Interest; (3) any Excess Interest that Lender may have received hereunder or under any Other Agreement shall be, at such Lender’s option, (a) applied as a credit against the outstanding principal balance of Borrower’s Liabilities or accrued and unpaid interest (not to exceed the maximum amount permitted by law), (b) refunded to the payor thereof, or (c) any combination of the foregoing; (4) the interest rate(s) provided for herein or in any Other Agreement shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable law, and this Loan Agreement and the Other Agreements shall be deemed to have been and shall be, reformed and modified to reflect such reduction; and (5) Borrower shall not have any action against Lender for any damages arising out of the payment or collection of any Excess Interest.

Interest Laws. Notwithstanding any provision to the contrary contained in this Loan Agreement or any Other AgreementDocument, Borrower shall not be required to pay, and Lender shall not be permitted to collect, any amount of interest in excess of the maximum amount of interest permitted by applicable law (“Excess Interest”). If any Excess Interest is provided for or determined by a court of competent jurisdiction to have been provided for in this Loan Agreement or in any Other AgreementDocument, then in such event: (1) the provisions of this subsection shall govern and control; (2) Borrower shall not be obligated to pay any Excess Interest; (3) any Excess Interest that Lender may have received hereunder or under any Other Agreement shall be, at such Lender’s option, (a) applied as a credit against the outstanding principal balance of the Borrower’s Liabilities or accrued and unpaid interest (not to exceed the maximum amount permitted by law), (b) refunded to the payor thereof, or (c) any combination of the foregoing; (4) the interest rate(s) provided for herein or in any Other Agreement shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable lawlaw (the “Maximum Rate”), and this Loan Agreement and the Other Agreements Documents shall be deemed to have been and shall be, reformed and modified to reflect such reduction; and (5) Borrower shall not have any action against Lender for any damages arising out of the payment or collection of any Excess Interest.

Interest Laws. (a) Notwithstanding any provision to the contrary contained in this Loan Agreement or any Other Agreement, Borrower the Company shall not be required to pay, and Lender Purchaser shall not be permitted to collectcontract for, take, reserve, charge or receive, any amount of compensation which constitutes interest under applicable law in excess of the maximum amount of interest permitted by applicable law (“Excess Interest”). If any Excess Interest is provided for or determined by a court of competent jurisdiction to have been provided for in this Loan Agreement or in any Other AgreementAgreement or otherwise contracted for, taken, reserved, charged or received, then in such event: (1i) the provisions of this subsection Section 2.8 shall govern and control; (2ii) Borrower the Company shall not be obligated to pay any Excess Interest; (3iii) any Excess Interest that Lender Purchaser may have contracted for, taken, reserved, charged or received hereunder or under any Other Agreement shall be, at such Lender’s Purchaser's option, (aA) applied as a credit against the outstanding principal balance of Borrower’s Liabilities the Senior Subordinated Obligations or accrued and unpaid interest (not to exceed the maximum amount permitted by law), (bB) refunded to the payor thereof, or (cC) any combination of the foregoing; (4iv) the interest rate(s) provided for herein or in any Other Agreement shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable lawlaw (the “Maximum Rate”), and this Loan Agreement and the Other Agreements shall be deemed to have been been, and shall be, reformed and modified to reflect such reduction; and (5v) Borrower the Company shall not have any no action against Lender Purchaser for any damages arising out of the payment or collection of due to any Excess Interest.

Interest Laws. Notwithstanding any provision to the contrary contained in this Loan Agreement or any Other Agreement, Borrower shall not be required to pay, and Lender shall not be permitted to collect, any amount of interest in excess of the maximum amount of interest permitted by applicable law (“"Excess Interest”"). If any Excess Interest is provided for or determined by a court of competent jurisdiction to have been provided for in this Loan Agreement or in any Other Agreement, then in such event: (1) the provisions of this subsection shall govern and control; (2) Borrower shall not be obligated to pay any Excess Interest; (3) any Excess Interest that Lender may have received hereunder or under any Other Agreement shall be, at such Lender’s 's option, (a) applied as a credit against the outstanding principal balance of Borrower’s 's Liabilities or accrued and unpaid interest (not to exceed the maximum amount permitted by law), (b) refunded to the payor thereof, or (c) any combination of the foregoing; (4) the interest rate(s) provided for herein or in any Other Agreement shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable lawlaw (the "Maximum Rate"), and this Loan Agreement and the Other Agreements shall be deemed to have been and shall be, reformed and modified to reflect such reduction; and (5) Borrower shall not have any action against Lender for any damages arising out of the payment or collection of any Excess Interest.

Interest Laws. Notwithstanding any provision to the contrary contained in this Loan Agreement or any the Other AgreementAgreements, Borrower Borrowers shall not be required to pay, and Lender Bank shall not be permitted to collect, any amount of interest in excess of the maximum amount of interest permitted by applicable law (“"Excess Interest”"). If any Excess Interest is provided for or determined by a court of competent jurisdiction to have been provided for in this Loan Agreement or in any of the Other AgreementAgreements, then in such event: (1a) the provisions of this subsection Paragraph shall govern and control; (2b) Borrower Borrowers shall not be obligated to pay any Excess Interest; (3c) any Excess Interest that Lender Bank may have received and/or disbursed to Bank hereunder or under any Other Agreement shall be, at such Lender’s Bank's option, timely (ai) applied as a credit against the outstanding principal balance of Borrower’s Borrowers' Liabilities or accrued and unpaid interest (not to exceed the maximum amount permitted by law), (bii) refunded to the payor thereof, or (ciii) any combination of the foregoing; (4d) the interest rate(s) provided for herein or in any Other Agreement shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable lawlaw (the "Maximum Rate"), and this Loan Agreement and the Other Agreements shall be deemed to have been and shall be, be reformed and modified to reflect such reduction; and (5e) Borrower Borrowers shall not have any action against Lender Bank for any damages arising out of the payment or collection of any Excess Interest.

Interest Laws. Notwithstanding any provision to the contrary contained in this Loan Agreement or any Other AgreementDocument, Borrower shall not be required to pay, and Lender shall not be permitted to collect, any amount of interest in excess of the maximum amount of interest permitted by applicable law (“Excess Interest”). If any Excess Interest is provided for or determined by a court of competent jurisdiction to have been provided for in this Loan Agreement or in any Other Agreement, then in such event: (1) the provisions of this subsection shall govern and control; (2) Borrower shall not be obligated to pay any Excess Interest; (3) any Excess Interest that Lender may have received hereunder or under any Other Agreement shall be, at such Lender’s option, (a) applied as a credit against the outstanding principal balance of Borrower’s Liabilities or accrued and unpaid interest (not to exceed the maximum amount permitted by law), (b) refunded to the payor thereof, or (c) any combination of the foregoing; (4) the interest rate(s) provided for herein or in any Other Agreement shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable lawlaw (the “Maximum Rate”), and this Loan Agreement and the Other Agreements shall be deemed to have been and shall be, reformed and modified to reflect such reduction; and (5) Borrower shall not have any action against Lender for any damages arising out of the payment or collection of any Excess Interest.

Interest Laws. 2.8.1. Notwithstanding any provision to the contrary contained in this Loan Agreement or any Other Agreement, Borrower the Company shall not be required to pay, and Lender Purchaser shall not be permitted to collectcontract for, take, reserve, charge or receive, any amount of compensation which constitutes interest under applicable law in excess of the maximum amount of interest permitted by applicable law (“"Excess Interest”"). If any Excess Interest is provided for or determined by a court of competent jurisdiction to have been provided for in this Loan Agreement or in any Other AgreementAgreement or otherwise contracted for, taken, reserved, charged or received, then in such event: (1i) the provisions of this subsection Section 2.8 shall govern and control; (2ii) Borrower the Company shall not be obligated to pay any Excess Interest; (3iii) any Excess Interest that Lender Purchaser may have contracted for, taken, reserved, charged or received hereunder or under any Other Agreement shall be, at such Lender’s Purchaser's option, (aA) applied as a credit against the outstanding principal balance of Borrower’s Liabilities the Senior Subordinated Obligations or accrued and unpaid interest (not to exceed the maximum amount permitted by law), (bB) refunded to the payor thereof, or (cC) any combination of the foregoing; (4iv) the interest rate(s) provided for herein or in any Other Agreement shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable lawlaw (the "Maximum Rate"), and this Loan Agreement and the Other Agreements shall be deemed to have been been, and shall be, reformed and modified to reflect such reduction; and (5v) Borrower the Company shall not have any no action against Lender Purchaser for any damages arising out of the payment or collection of due to any Excess Interest.

Interest Laws. Notwithstanding any provision to the contrary contained in this Loan Agreement or any Other Agreementother Loan Document, Borrower shall not be required to pay, and Lender shall not be permitted to collect, any amount of interest in excess of the maximum amount of interest permitted by applicable law (“"Excess Interest”"). If any Excess Interest is provided for or determined by a court of competent jurisdiction to have been provided for in this Loan Agreement or in any Other Agreementother Loan Document, then in such event: (1) the provisions of this subsection shall govern and control; (2) neither Borrower nor any other Loan Party shall not be obligated to pay any Excess Interest; (3) any Excess Interest that Lender may have received hereunder or under any Other Agreement shall be, at such Lender’s 's option, (a) applied as a credit against the outstanding principal balance of Borrower’s Liabilities the Obligations or accrued and unpaid interest (not to exceed the maximum amount permitted by law), (b) refunded to the payor payer thereof, or (c) any combination of the foregoing; (4) the interest rate(s) provided for herein or in any Other Agreement shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable lawlaw (the "Maximum Rate"), and this Loan Agreement and the Other Agreements other Loan Documents shall be deemed to have been and shall be, reformed and modified to reflect such reduction; and (5) neither Borrower nor any Loan Party shall not have any action against Lender for any damages arising out of the payment or collection of any Excess Interest.. Notwithstanding the foregoing, if for any period of time interest on any Obligations is calculated at the Maximum Rate rather than the applicable rate under this Agreement,

Interest Laws. Notwithstanding any provision to the contrary contained in this Loan Agreement or any Other Agreement, Borrower the Company shall not be required to pay, and the Lender shall not be permitted to collectcontract for, take, reserve, charge or receive, any amount of compensation which constitutes interest under applicable law in excess of the maximum amount of interest permitted by applicable law (“Excess Interest”). If any Excess Interest is provided for or determined in a final, non-appealable judgment by a court of competent jurisdiction to have been provided for in this Loan Agreement or in any Other Agreementotherwise contracted for, taken, reserved, charged or received, then in such event: (1A) the provisions of this subsection Section shall govern and control; (2B) Borrower the Company shall not be obligated to pay any Excess Interest; (3C) any Excess Interest that Lender the Lenders may have contracted for, taken, reserved, charged or received hereunder or under any Other Agreement shall be, at such the Lender’s option, (aI) applied as a credit against the outstanding principal balance of Borrower’s Liabilities or accrued and unpaid interest the Note (not to exceed the maximum amount permitted by law), (bII) refunded to the payor thereof, or (cIII) any combination of the foregoing; (4D) the interest rate(s) provided for herein or in any Other Agreement shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable lawlaw (the “Maximum Rate”), and this Loan Agreement and the Other Agreements shall be deemed to have been been, and shall be, reformed and modified to reflect such reduction; and (5E) Borrower the Company shall not have any no action against Lender for any damages arising out of the payment or collection of Lenders due to any Excess Interest. The terms of this Section shall be deemed incorporated into the Notes.

Interest Laws. Notwithstanding any provision to the contrary contained in this Loan Agreement or any Other AgreementDocument, Borrower shall not be required to pay, and Lender shall not be permitted to collect, any amount of interest in excess of the maximum amount of interest permitted by applicable law (“Excess Interest”). If any Excess Interest is provided for or determined by a court of competent jurisdiction to have been provided for in this Loan Agreement or in any Other Agreement, then in such event: (1) the provisions of this subsection shall govern and control; (2) Borrower shall not be obligated to pay any Excess Interest; (3) any Excess Interest that Lender may have received hereunder or under any Other Agreement shall be, at such Lender’s option, (a) applied as a credit against the outstanding principal balance of Borrower’s Liabilities or accrued and unpaid interest (not to exceed the maximum amount permitted by law), (b) refunded to the payor thereof, or (c) any combination of the foregoing; (4) the interest rate(s) provided for herein or in any Other Agreement shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable lawlaw (the “Maximum Rate”), and this Loan Agreement and the Other Agreements shall be deemed to have been and shall be, reformed and modified to reflect such reduction; and (5) Borrower shall not have any action against Lender for any damages arising out of the payment or collection of any Excess Interest.