Common use of Limitation on Interest Clause in Contracts

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks in excess of the maximum lawful amount, the interest payable to the Banks shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the Borrower, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks and the Agent.

Appears in 24 contracts

Samples: Master Loan Agreement (Ramco Gershenson Properties Trust), Revolving Credit Agreement (Ramco Gershenson Properties Trust), Secured Master Loan Agreement (Ramco Gershenson Properties Trust)

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Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in In no contingency, whether by reason of acceleration of the maturity Maturity of any of the Obligations this Note or otherwise, shall the interest contracted for, charged or received by the Banks Holder exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Holder in excess of the maximum lawful amount, the interest payable to the Banks Holder shall be reduced to the maximum amount permitted under applicable law; and and, if from any circumstance the Banks Holder shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower this Note and not to the payment of interest orinterest, or if such excessive interest exceeds the unpaid balance of principal of the Obligations of the Borrower, Note such excess shall be refunded to the BorrowerMaker. All interest paid or agreed to be paid to the Banks Holder shall, to the extent permitted by applicable law, be amortized, proratedpro-rated, allocated allocated, and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower Note (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks and the Agent.

Appears in 21 contracts

Samples: Note (Sedona Corp), Sedona Corp, Note (Sedona Corp)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrower, the Banks Guarantors, the Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between or among the Borrower and Borrower, the Banks Guarantors, the Lenders and the Agent.

Appears in 19 contracts

Samples: Credit Agreement (Gladstone Commercial Corp), Credit Agreement (Carter Validus Mission Critical REIT, Inc.), Credit Agreement (Gladstone Commercial Corp)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrower, the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between or among the Borrower and Borrower, the Banks Lenders and the Agent.

Appears in 18 contracts

Samples: Credit Agreement (City Office REIT, Inc.), Credit Agreement (Behringer Harvard Reit I Inc), Credit Agreement (Plymouth Industrial REIT Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks in excess of the maximum lawful amount, the interest payable to the Banks shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks and the Agent.

Appears in 17 contracts

Samples: Revolving Credit Agreement (Meridian Industrial Trust Inc), Revolving Credit Agreement (New Plan Excel Realty Trust Inc), Term Loan Agreement (Wellsford Real Properties Inc)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrowers, the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the BorrowerBorrowers. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between or among the Borrower and Borrowers, the Banks Lenders and the Agent.

Appears in 10 contracts

Samples: Credit Agreement (CoreSite Realty Corp), Joinder Agreement (QTS Realty Trust, Inc.), Credit Agreement (CoreSite Realty Corp)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrower, the Banks Guarantors, the Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section §4.13 shall control all agreements between or among the Borrower and Borrower, the Banks Guarantors, the Lenders and the Agent.

Appears in 8 contracts

Samples: Credit Agreement (Four Springs Capital Trust), Term Loan Agreement (Four Springs Capital Trust), Credit Agreement (GTJ REIT, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between the Borrower and the Banks and the AgentLender, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lender exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lender in excess of the maximum lawful amount, the interest payable to the Banks Lender shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lender shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lender shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks and the AgentLender.

Appears in 7 contracts

Samples: Mezzanine Loan Agreement (Preferred Apartment Communities Inc), Mezzanine Loan Agreement (Preferred Apartment Communities Inc), Mezzanine Loan Agreement (Preferred Apartment Communities Inc)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all All agreements between the Borrower and the Banks and the AgentLender, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations indebtedness governed hereby or otherwise, shall the interest contracted for, charged or received by the Banks Lender exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lender in excess of the maximum lawful amount, the interest payable to the Banks Lender shall be reduced to the maximum amount permitted under applicable law; and and, if from any circumstance the Banks Lender shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower Loan and not to the payment of interest interest, or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerLoan, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lender shall, to the extent permitted by applicable law, be amortized, prorated, allocated allocated, and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower Loan (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section paragraph shall control all agreements between the Borrower and the Banks and the AgentLender.

Appears in 7 contracts

Samples: Loan Agreement (American Retirement Corp), Loan Agreement (American Retirement Corp), Loan Agreement (Arv Assisted Living Inc)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks Lenders and the Agent.

Appears in 6 contracts

Samples: Revolving Credit Agreement (Forestar Group Inc.), Revolving and Term Credit Agreement (Forestar Group Inc.), Term Credit Agreement (CorEnergy Infrastructure Trust, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in In no contingency, whether by reason of acceleration of the maturity Maturity of any of the Obligations this Note or otherwise, shall the interest contracted for, charged or received by the Banks Holder exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Holder in excess of the maximum lawful amount, the interest payable to the Banks Holder shall be reduced to the maximum amount permitted under applicable law; and and, if from any circumstance the Banks Holder shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower this Note and not to the payment of interest orinterest, or if such excessive interest exceeds the unpaid balance of principal of the Obligations of the Borrower, Note such excess shall be refunded to the BorrowerMaker. All interest paid or agreed to be paid to the Banks Holder shall, to the extent permitted by applicable law, be amortized, prorated, allocated allocated, and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower Note (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks and the Agent.

Appears in 6 contracts

Samples: Loan and Refinancing Agreement (Sedona Corp), Sedona Corp, Sedona Corp

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower Borrowers, Lenders and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the BorrowerBorrowers. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between or among the Borrower Borrowers, Lenders and the Banks and the Agent.

Appears in 6 contracts

Samples: Term Loan Agreement (Independence Realty Trust, Inc.), Term Loan Agreement (Independence Realty Trust, Inc.), Credit Agreement (Independence Realty Trust, Inc)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower Borrowers and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks in excess of the maximum lawful amount, the interest payable to the Banks shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the BorrowerBorrowers. All interest paid or agreed to be paid to the Banks shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower Borrowers and the Banks and the Agent.

Appears in 5 contracts

Samples: Term Loan Agreement (Walden Residential Properties Inc), Revolving Credit Agreement (Walden Residential Properties Inc), Revolving Credit Agreement (Schuler Homes Inc)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all All agreements between the Borrower Borrowers and the Banks and the AgentLender, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations indebtedness governed hereby or otherwise, shall the interest contracted for, charged or received by the Banks Lender exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lender in excess of the maximum lawful amount, the interest payable to the Banks Lender shall be reduced to the maximum amount permitted under applicable law; and and, if from any circumstance the Banks Lender shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower Loan and not to the payment of interest interest, or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerLoan, such excess shall be refunded to the BorrowerBorrowers. All interest paid or agreed to be paid to the Banks Lender shall, to the extent permitted by applicable law, be amortized, prorated, allocated allocated, and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower Loan (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section paragraph shall control all agreements between the Borrower Borrowers and the Banks and the AgentLender.

Appears in 5 contracts

Samples: Loan Agreement (Emeritus Corp\wa\), Loan Agreement (Emeritus Corp\wa\), Loan Agreement (Emeritus Corp\wa\)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrower, the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between or among the Borrower Borrower, the Lenders and the Banks and Agent with respect to the Agentsubject matter of this paragraph.

Appears in 5 contracts

Samples: Term Loan Credit Agreement (Plymouth Industrial REIT, Inc.), Credit Agreement (Plymouth Industrial REIT, Inc.), Credit Agreement (Plymouth Industrial REIT, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrower, Guarantors, the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between or among the Borrower and Borrower, the Banks Guarantors, the Lenders and the Agent.

Appears in 4 contracts

Samples: Credit Agreement (Dupont Fabros Technology, Inc.), Credit Agreement (Dupont Fabros Technology, Inc.), Credit Agreement (DuPont Fabros Technology LP)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrower, the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable lawApplicable Law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable lawApplicable Law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law Applicable Law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable lawApplicable Law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable lawApplicable Law. This section Section shall control all agreements between or among the Borrower and Borrower, the Banks Lenders and the Agent.

Appears in 4 contracts

Samples: Credit Agreement (QTS Realty Trust, Inc.), Term Loan Agreement (Moody National REIT II, Inc.), Credit Agreement (QTS Realty Trust, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement It is the intention of the parties hereto to the contraryconform strictly to applicable usury laws. Accordingly, all agreements between Debtor and Secured Party with respect to the Borrower and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, Note are hereby expressly limited so that in no contingencyevent, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks in excess of the maximum lawful amount, the interest payable to the Banks shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the Borrower, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to Secured Party or charged by Secured Party for the Banks shalluse, forbearance or detention of the money to be lent hereunder or otherwise, exceed the maximum amount allowed by law. If, at the time of performance, fulfillment of any provision of the Loan Documents shall involve transcending the limit of validity prescribed by applicable law, then, ipso facto, the obligation to be fulfilled shall be reduced to the limit of such validity. If Secured Party shall ever receive as interest an amount which would exceed the highest lawful rate, the receipt of such excess shall be deemed a mistake and (a) shall be canceled automatically or (b) if paid, such excess shall be (i) credited against the principal amount of the Loan to the extent permitted by applicable law or (ii) rebated to Debtor if it cannot be so credited under applicable law. Furthermore, all sums paid or agreed to be paid under the Loan Documents for the use, forbearance, or detention of money shall to the extent permitted by applicable law be amortized, prorated, allocated allocated, and spread throughout the full period term of the Note until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the rate or amount of interest thereon for such full period shall on account of the Note does not exceed the maximum amount permitted by lawful rate of interest from time to time in effect and applicable lawto the Note for so long as the Note is outstanding. This section The terms and provisions of this Section shall control all agreements between and supersede every other provision of the Borrower and the Banks and the AgentCollateral Documents.

Appears in 4 contracts

Samples: Amended and Restated Security Agreement (Biodelivery Sciences International Inc), Security Agreement (Biodelivery Sciences International Inc), Amended and Restated Security Agreement (Biodelivery Sciences International Inc)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all All agreements between the Borrower Debtor and the Banks and the AgentSecured Party, whether now existing or hereafter arising and whether written or oral, are hereby expressly limited so that in no contingency, whether by reason of demand or acceleration of the maturity of any of the Obligations indebtedness secured hereby or otherwise, shall the interest contracted for, charged charged, received, paid or received by the Banks agreed to be paid to Secured Party exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, whatsoever interest would otherwise be payable to the Banks holder hereof in excess of the maximum lawful amount, the interest payable to the Banks Secured Party shall be reduced to the maximum amount permitted under applicable law; and if from any such circumstance the Banks Secured Party shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of amount owing on the Obligations of the Borrower indebtedness secured hereby and not to the payment of interest orinterest, or if such excessive interest exceeds the such unpaid balance of principal of the Obligations of the Borrowerprincipal, such excess shall be refunded to the Borrowerundersigned. All interest paid or agreed to be paid to Secured Party on the Banks indebtedness secured hereby shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full term of the principal of the Obligations of the Borrower such indebtedness (including the period of any renewal or extension thereof) until payment in full so that the interest thereon for on account of such full period indebtedness shall not exceed the maximum amount permitted by applicable law. This section The terms and provisions of this paragraph shall control all agreements between the Borrower Debtor and the Banks and the AgentSecured Party.

Appears in 4 contracts

Samples: Credit Agreement (Crescent Operating Inc), Credit Agreement (Crescent Operating Inc), Credit Agreement (Crescent Operating Inc)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks Lender Parties and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lender Parties exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lender Parties in excess of the maximum lawful amount, the interest payable to the Banks Lender Parties shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lender Parties shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lender Parties shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks Lender Parties and the Agent.

Appears in 3 contracts

Samples: Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.), Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.), Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and the Banks Lenders and the Administrative Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks Lenders and the Administrative Agent.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Mills Corp), Assignment and Acceptance (Mills Corp), Revolving Credit Agreement (Mills Corp)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in In no contingency, whether by reason of acceleration of the maturity Maturity of any of the Obligations this Note or otherwise, shall the interest contracted for, charged or received by the Banks Holder exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Holder in excess of the maximum lawful amount, the interest payable to the Banks Holder shall be reduced to the maximum amount permitted under applicable law; and and, if from any circumstance the Banks Holder shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower this Note and not to the payment of interest orinterest, of if such excessive interest exceeds the unpaid balance of principal of the Obligations of the Borrower, Note such excess shall be refunded to the BorrowerMaker. All interest paid or agreed to be paid to the Banks Holder shall, to the extent permitted by applicable law, be amortized, proratedpro-rated, allocated allocated, and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower Note (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks and the Agent.

Appears in 3 contracts

Samples: Convertible Note (Sedona Corp), Convertible Note (Sedona Corp), Sedona Corp

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be by payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks Lenders and the Agent.

Appears in 3 contracts

Samples: Unsecured Revolving Credit Agreement (Amerivest Properties Inc), Revolving Credit Agreement (Amerivest Properties Inc), Revolving Credit Agreement (Amerivest Properties Inc)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among Borrower, the Borrower and the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between or among Borrower, the Borrower and the Banks Lenders and the Agent.

Appears in 3 contracts

Samples: Term Loan Agreement (CoreSite Realty Corp), Term Loan Agreement (CoreSite Realty Corp), Term Loan Agreement (CoreSite Realty Corp)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrower, the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between or among the Borrower and Borrower, the Banks Lenders and the Agent, with respect to the subject matter of this paragraph.

Appears in 3 contracts

Samples: Credit Agreement (Plymouth Industrial REIT Inc.), Credit Agreement (Plymouth Industrial REIT Inc.), Credit Agreement (Plymouth Industrial REIT Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrower, the Banks Guarantor, the Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between or among the Borrower and Borrower, the Banks Guarantor, the Lenders and the Agent.

Appears in 3 contracts

Samples: Master Credit Agreement (Entertainment Properties Trust), Loan Agreement (Entertainment Properties Trust), Master Credit Agreement (Entertainment Properties Trust)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among Borrower, Guarantor, the Borrower and the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between or among Borrower, Guarantor, the Borrower and the Banks Lenders and the Agent.

Appears in 2 contracts

Samples: Credit Agreement (Dupont Fabros Technology, Inc.), Credit Agreement (Dupont Fabros Technology, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Parent Borrower, the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Parent Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between or among the Borrower and Parent Borrower, the Banks Lenders and the Agent.

Appears in 2 contracts

Samples: Credit Agreement (CoreSite Realty Corp), Credit Agreement (CoreSite Realty Corp)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all All agreements between the Borrower and the Banks and the AgentMezzanine Lender, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations indebtedness governed hereby or otherwise, shall the interest contracted for, charged or received by the Banks Mezzanine Lender exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Mezzanine Lender in excess of the maximum lawful amount, the interest payable to the Banks Mezzanine Lender shall be reduced to the maximum amount permitted under applicable law; and and, if from any circumstance the Banks Mezzanine Lender shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower Loan and not to the payment of interest interest, or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerLoan, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Mezzanine Lender shall, to the extent permitted by applicable law, be amortized, prorated, allocated allocated, and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower Loan (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section paragraph shall control all agreements between the Borrower and the Banks and the AgentMezzanine Lender.

Appears in 2 contracts

Samples: Mezzanine Loan Agreement (Capital Senior Living Corp), Mezzanine Loan Agreement (Capital Senior Living Corp)

Limitation on Interest. Notwithstanding anything in this Agreement conflict or to the contrarycontrary contained in this Deed of Trust or any of the other Loan Documents, all agreements between the Borrower Grantor and the Banks and the AgentBeneficiary, whether now nor existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of demand for payment of or acceleration of the maturity of any of the Obligations indebtedness or otherwise, shall the interest contracted for, charged or received by the Banks Beneficiary exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Beneficiary in excess of the maximum lawful amount, the interest payable to the Banks Beneficiary shall automatically be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Beneficiary shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower indebtedness and not to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the Borrowerindebtedness, such excess shall be refunded to the BorrowerGrantor. All interest paid or agreed to be paid to the Banks Beneficiary shall, to the extent permitted by applicable law, be amortized, prorated, allocated allocated, and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower indebtedness (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section paragraph shall control all agreements between the Borrower Grantor and the Banks and the AgentBeneficiary.

Appears in 2 contracts

Samples: Trust, Security Agreement and Fixture Filing (Industrial Income Trust Inc.), Security Agreement and Fixture Filing (Industrial Income Trust Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between the Borrower or among Borrower, Lenders and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between the Borrower or among Borrower, Lenders and the Banks and the Agent.

Appears in 2 contracts

Samples: And Consolidated Credit Agreement (Independence Realty Trust, Inc.), Joinder Agreement (Independence Realty Trust, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks Lenders and the Agent.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Wellsford Real Properties Inc), Revolving Credit Agreement (Wellsford Real Properties Inc)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between the Borrower or among Borrower, Guarantors, Lenders and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between the Borrower or among Borrower, Guarantors, Lenders and the Banks and the Agent.

Appears in 2 contracts

Samples: Credit Agreement (CyrusOne Inc.), Credit Agreement (CyrusOne Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrower, REA, the Banks Guarantors, the Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between or among the Borrower and Borrower, REA, the Banks Guarantors, the Lenders and the Agent.

Appears in 2 contracts

Samples: Revolving Credit Agreement (American Real Estate Investment Corp), Revolving Credit Agreement (American Real Estate Investment Corp)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between the Borrower and the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations Notes or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower Notes and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerNotes, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower Notes (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks Lenders and the Agent.

Appears in 2 contracts

Samples: Credit Agreement (M I Schottenstein Homes Inc), Credit Agreement (M I Schottenstein Homes Inc)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingencycircumstance, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks in excess of the maximum lawful amount, the interest payable to the Banks shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks and the Agent.

Appears in 2 contracts

Samples: Construction Loan Agreement (Walden Residential Properties Inc), Construction Loan Agreement (Walden Residential Properties Inc)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks in excess of the maximum lawful amount, the interest payable to the Banks shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks and the Agent.

Appears in 2 contracts

Samples: Term Loan Agreement (Ps Business Parks Inc/Ca), Revolving Credit Agreement (Price Legacy Corp)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks in excess of the maximum lawful amount, the interest payable to the Banks shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks and the Agent.

Appears in 1 contract

Samples: Letter of Credit Facility Agreement (Forestar Group Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section §3.11 shall control all agreements between Borrower, the Borrower and the Banks Lenders and the Agent.

Appears in 1 contract

Samples: Entire Agreement (California Coastal Communities Inc)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Note Documents to the contrary, all agreements between the Borrower Company and the Banks and the AgentPurchaser, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations Note or otherwise, shall the interest contracted for, charged or received by the Banks Purchaser exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Purchaser in excess of the maximum lawful amount, the interest payable to the Banks Purchaser shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Purchaser shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower Note and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerNote, such excess shall be refunded to the BorrowerCompany. All interest paid or agreed to be paid to the Banks Purchaser shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower Note (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower Company and the Banks and the AgentPurchaser.

Appears in 1 contract

Samples: Note Purchase Agreement (M I Schottenstein Homes Inc)

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Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among Borrowers, the Borrower and the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the BorrowerBorrowers. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between or among Borrowers, the Borrower and the Banks Lenders and the Agent.

Appears in 1 contract

Samples: Term Loan Agreement (CoreSite Realty Corp)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrower, the Banks other Loan Parties, the Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between or among the Borrower and Borrower, the Banks other Loan Parties, the Lenders and the Agent.

Appears in 1 contract

Samples: Credit Agreement (Industrial Property Trust Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all All agreements between the Borrower Debtor and the Banks and the AgentSecured Party, whether now existing or hereafter arising and whether written or oral, are hereby expressly limited so that in no contingency, whether by reason of demand or acceleration of the maturity of any of the Obligations indebtedness secured hereby or otherwise, shall the interest contracted for, charged charged, received, paid or received by the Banks agreed to be paid to Secured Party exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks holder hereof in excess of the maximum lawful amount, the interest payable to the Banks Secured Party shall be reduced to the maximum amount permitted under applicable law; and if from any such circumstance the Banks Secured Party shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of amount owing on the Obligations of the Borrower indebtedness secured hereby and not to the payment of interest orinterest, or if such excessive interest exceeds the such unpaid balance of principal of the Obligations of the Borrowerprincipal, such excess shall be refunded to the Borrowerundersigned. All interest paid or agreed to be paid to Secured Party on the Banks indebtedness secured hereby shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full term of the principal of the Obligations of the Borrower such indebtedness (including the period of any renewal or extension thereof) until payment in full so that the interest thereon for on account of such full period indebtedness shall not exceed the maximum amount permitted by applicable law. This section The terms and provisions of this paragraph shall control all agreements between the Borrower Debtor and the Banks and the AgentSecured Party.

Appears in 1 contract

Samples: Security Agreement (Crescent Operating Inc)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower Borrowers, Lenders and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the BorrowerBorrowers. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower NYDOCS03/1107437.11107437.2 (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between or among the Borrower Borrowers, Lenders and the Banks and the Agent.

Appears in 1 contract

Samples: Term Loan Agreement (Independence Realty Trust, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks and the AgentLender, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingencycircumstance, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lender exceed the maximum amount permissible under applicable lawLaw. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lender in excess of the maximum lawful amount, the interest payable to the Banks Lender shall be reduced to the maximum amount permitted under applicable lawLaw; and if from any circumstance the Banks Lender shall ever receive anything of value deemed interest by applicable law Law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lender shall, to the extent permitted by applicable lawLaw, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable lawLaw. This section shall control all agreements between the Borrower and the Banks and the AgentLender.

Appears in 1 contract

Samples: Construction Loan Agreement (Medical Properties Trust Inc)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower Loan Parties, the Lenders and the Banks and the Administrative Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the BorrowerBorrowers. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section 4.13 shall control all agreements between or among any or all of the Borrower Loan Parties, the Lenders and Administrative Agent relating to the Banks and the AgentLoans.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Griffin-American Healthcare REIT III, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrowers, the Banks Guarantor, the Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the BorrowerBorrowers. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between or among the Borrower and Borrowers, the Banks Guarantor, the Lenders and the Agent.

Appears in 1 contract

Samples: Loan Agreement (Comstock Homebuilding Companies, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all All agreements between the Borrower Lender and the Banks and the AgentBorrower, ----------------------- whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of demand or acceleration of the maturity of any of the Obligations Note or otherwise, shall the interest contracted for, charged charged, received, paid or received by the Banks agreed to be paid to Lender exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lender in excess of the maximum lawful amount, the interest payable to the Banks Lender shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lender shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower Indebtedness and not to the payment of interest orinterest, or if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerIndebtedness, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lender shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon on the Indebtedness for such full period shall not exceed the maximum amount permitted by applicable law. Lender hereby expressly disclaims any intent to contract for, charge or receive interest in an amount which exceeds the maximum amount of interest permitted by applicable law. This section Section 12.4 shall control all agreements between the Borrower Lender and the Banks and the AgentBorrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Mego Financial Corp)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower Borrowers and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks in excess of the maximum lawful amount, the interest payable to the Banks shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower Borrowers and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerBorrowers, such excess shall be refunded to the BorrowerBorrowers. All interest paid or agreed to be paid to the Banks shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower Borrowers (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower Borrowers and the Banks and the Agent.

Appears in 1 contract

Samples: Loan Agreement (Meruelo Richard)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrower, the Banks Guarantors, the Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section §shall control all agreements between or among the Borrower and Borrower, the Banks Guarantors, the Lenders and the Agent.

Appears in 1 contract

Samples: Term Loan Agreement (Mid-America Apartments, L.P.)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all All agreements between the Borrower and the Banks and the AgentTerm Lenders, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations indebtedness governed hereby or otherwise, shall the interest contracted for, charged or received by the Banks Term Lenders exceed the maximum amount permissible under applicable law. Ifif, from any circumstance whatsoever, interest would otherwise be payable to the Banks Term Lenders in excess of the maximum lawful amount, the interest payable to the Banks Term Lenders shall be reduced to the maximum amount permitted under applicable law; and if . If from any circumstance the Banks Term Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower Term Loan and not to the payment of interest orinterest, or if such excessive interest exceeds the unpaid balance of principal of the Obligations of the Borrower, Term Loan such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Term Lenders shall, to the extent permitted by applicable law, be amortized, prorated, prorated allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower Term Loan (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section paragraph shall control all agreements between the Borrower and the Banks and the AgentTerm Lenders.

Appears in 1 contract

Samples: Term Loan Agreement (Ce Generation LLC)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all All agreements between the Borrower and the Banks and the AgentLender, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations Note or otherwise, shall the interest contracted for, charged or received by the Banks Lender exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks in excess of the maximum lawful amount, the interest payable to the Banks shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lender shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower Note and not to the payment of interest orinterest, or if such excessive interest exceeds the unpaid balance of principal of the Obligations of the Borrower, Note such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks holder of the Note shall, to the extent permitted by applicable law, be amortized, prorated, allocated allocated, and spread throughout the full period from the date of the Note until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section paragraph shall control all agreements between the Borrower and the Banks and the AgentLender.

Appears in 1 contract

Samples: Master Loan Agreement (Oriole Homes Corp)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section §3.9 shall control all agreements between the Borrower and Borrower, the Banks Lenders and the Agent.

Appears in 1 contract

Samples: Term Loan Agreement (California Coastal Communities Inc)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower and the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity 6231593.9\0334186 of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks Lenders and the Agent.

Appears in 1 contract

Samples: Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all All agreements between the Borrower Debtor and the Banks and the AgentSecured Party, whether now existing or hereafter arising and whether written or oral, are hereby expressly limited so that in no contingency, whether by reason of demand or acceleration of the maturity of any of the Obligations indebtedness secured hereby or otherwise, shall the interest contracted for, charged charged, received, paid or received by the Banks agreed to be paid to Secured Party exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, whatsoever interest would otherwise be payable to the Banks holder hereof in excess of the maximum lawful amount, the interest payable to the Banks Secured Party shall be reduced to the maximum amount permitted under applicable law; and if from any such circumstance the Banks Secured Party shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of amount owing on the Obligations of the Borrower indebtedness secured hereby and not to the payment of interest orinterest, or if such excessive interest exceeds the such unpaid balance of principal of the Obligations of the Borrowerprincipal, such excess shall be refunded to the Borrowerundersigned. All interest paid or agreed to be paid to Secured Party on the Banks indebtedness secured hereby shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full term of the principal of the Obligations of the Borrower such indebtedness (including the period of any renewal or extension thereof) until payment in full so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks and the Agent.on account of such

Appears in 1 contract

Samples: Credit Agreement (Crescent Operating Inc)

Limitation on Interest. Notwithstanding anything in this Agreement The parties hereto intend to conform strictly to the contrary, all agreements between the Borrower and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in applicable usury laws. In no contingencyevent, whether by reason of demand for payment or acceleration of the maturity of any of the Obligations Indebtedness or otherwise, shall the interest contracted for, charged or received by the Banks Lender hereunder or otherwise exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lender in excess of the maximum lawful amount, the interest payable to the Banks Lender shall be reduced automatically to the maximum amount permitted under applicable law; and if from any circumstance the Banks . If Lender shall ever receive anything of value deemed interest by under applicable law which would apart from this provision be in excess of the maximum lawful amount, an amount equal to any amount which would have been excessive interest shall be applied to the reduction of the principal balance amount owing on the Indebtedness in the inverse order of the Obligations of the Borrower its maturity and not to the payment of interest orinterest, or if such amount which would have been excessive interest exceeds the unpaid principal balance of principal of the Obligations of the BorrowerIndebtedness, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lender shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower stated term (including the period of any renewal or extension thereofextension) of such indebtedness so that the amount of interest thereon for on account of such full period shall indebtedness does not exceed the maximum amount permitted by applicable law. This section The provisions of this Section shall control all existing and future agreements between the Borrower and the Banks and the AgentLender.

Appears in 1 contract

Samples: Commercial Loan Agreement (Moody National REIT I, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all agreements between the Borrower Borrowers and the Banks Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the BorrowerBorrowers. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower Borrowers and the Banks Lenders and the Agent.

Appears in 1 contract

Samples: Term Credit Agreement (Emeritus Corp\wa\)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower Loan Parties, the Lenders and the Banks and the Administrative Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the BorrowerBorrowers. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in 90 US_Active\120558968\V-3 US_ACTIVE\122519032\V-4 full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section 4.13 shall control all agreements between or among any or all of the Borrower Loan Parties, the Lenders and Administrative Agent relating to the Banks and the Agent.Loans. Section 4.14

Appears in 1 contract

Samples: Management Agreement (American Healthcare REIT, Inc.)

Limitation on Interest. Notwithstanding anything in this Reimbursement Agreement to the contrary, all agreements between the Borrower Account Parties and the Banks and the AgentBank, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations obligations to the Bank hereunder or under any Related Document or otherwise, shall the interest contracted for, charged or received by the Banks Bank exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Bank in excess of the maximum lawful amount, the interest payable to the Banks Bank shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Bank shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and obligations to the payment of interest or, if such excessive interest exceeds Bank hereunder or under the unpaid balance of principal of the Obligations of the Borrower, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower Related Documents (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower Account Parties and the Banks and the AgentBanks.

Appears in 1 contract

Samples: Credit Reimbursement Agreement (Wellsford Real Properties Inc)

Limitation on Interest. Notwithstanding anything in this Agreement to the -30- contrary, all agreements between the Borrower and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks in excess of the maximum lawful amount, the interest payable to the Banks shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower and the Banks and the Agent.

Appears in 1 contract

Samples: Revolving Credit Agreement (Meridian Industrial Trust Inc)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all All agreements between the Borrower and the Banks and the AgentLender, whether now existing or hereafter arising and whether written or oral, are hereby expressly limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations Notes or otherwise, shall the interest contracted for, charged charged, received, paid or received by agreed to be paid to the Banks holder of the Notes exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks holder of the Notes in an amount in excess of the maximum lawful amount, the interest payable to the Banks holder of the Notes shall be reduced to the maximum amount permitted under by applicable law; and if from any circumstance the Banks holder of the Notes shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amountamount allowed by law, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of amount owing under the Obligations of the Borrower Notes, and not to the payment of interest orinterest, or if such excessive interest exceeds the such unpaid balance of principal of the Obligations of the BorrowerNotes, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks holder of the Notes, shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full term of the principal of the Obligations of the Borrower Notes (including the period of any renewal or extension thereof) so that the interest thereon for such full period on the Notes shall not exceed the maximum amount permitted by applicable law. This section Section shall control all agreements between the Borrower and the Banks and holder of the AgentNotes.

Appears in 1 contract

Samples: Loan Agreement (Maxxam Inc)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower and Borrower, the Banks Guarantors, the Lenders and the Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether 68 102175686\V-9 102175686\V-9 US_Active\114487228114490487\V-17 by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable lawApplicable Law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable lawApplicable Law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law Applicable Law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable lawApplicable Law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable lawApplicable Law. This section §4.13 shall control all agreements between or among the Borrower and Borrower, the Banks Guarantors, the Lenders and the Agent.

Appears in 1 contract

Samples: Credit Agreement (Condor Hospitality Trust, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, all agreements between or among the Borrower Loan Parties, the Lenders and the Banks and the Administrative Agent, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations or otherwise, shall the interest contracted for, charged or received by the Banks Lenders exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Lenders in excess of the maximum lawful amount, the interest payable to the Banks Lenders shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Lenders shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal of the Obligations of the BorrowerObligations, such excess shall be refunded to the BorrowerBorrowers. All interest paid or agreed to be paid to the Banks Lenders shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section Section 4.13 shall control all agreements between or among the Borrower Loan Parties, the Lenders and the Banks and the Administrative Agent.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Griffin-American Healthcare REIT III, Inc.)

Limitation on Interest. Notwithstanding anything in this Agreement to the contrary, all All agreements between the Borrower and the Banks and the Agent, whether now existing or hereafter arising and whether written or oral, Lenders are hereby expressly limited so that in no contingencycontingency or event whatsoever, whether by reason of acceleration of the maturity of any of the Obligations or otherwiseIndebtedness, shall the interest contracted for, charged amount paid or received by agreed to be paid to Lenders for the Banks use or forbearance of indebtedness contemplated hereby exceed the maximum amount permissible under applicable law. As used herein, the term "applicable law" shall mean the law in effect as of the date hereof provided, however that in the event there is a change in the law which results in a higher permissible rate of interest, then the Loan Documents shall be governed by such new law as of its effective date. In this regard, it is expressly agreed that it is the intent of Borrower and Lenders in the execution, delivery and acceptance of this Agreement to contract in strict compliance with the laws of the State of Connecticut from time to time in effect. If, under or from any circumstance circumstances whatsoever, interest would otherwise be payable to the Banks in excess fulfillment of any provision hereof or of any of the maximum lawful amountLoan Documents at the time of performance of such provision shall be due, shall involve transcending the interest payable limit of such validity prescribed by applicable law, then the obligation to the Banks be fulfilled shall automatically be reduced to the maximum amount permitted under applicable law; limits of such validity, and if under or from any circumstance the Banks shall circumstances whatsoever Lenders should ever receive anything of value deemed as interest by applicable law in excess of the maximum lawful amount, an amount equal to any which would exceed the highest lawful rate, such amount which would be excessive interest shall be applied to the reduction of the principal balance of evidenced by the Obligations of the Borrower Loans and not to the payment of interest or, if such excessive interest exceeds the unpaid balance of principal interest. This provision shall control every other provision of the Obligations of the Borrower, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements Loan Documents between the Borrower and the Banks and the AgentLenders.

Appears in 1 contract

Samples: Loan and Security Agreement (Petals Decorative Accents, Inc.)

Limitation on Interest. Notwithstanding anything in this Reimbursement Agreement to the contrary, all agreements between the Borrower Account Parties and the Banks and the AgentBank, whether now existing or hereafter arising and whether written or oral, are hereby limited so that in no contingency, whether by reason of acceleration of the maturity of any of the Obligations obligations to the Bank hereunder or under any other Related Document or otherwise, shall the interest contracted for, charged or received by the Banks Bank exceed the maximum amount permissible under applicable law. If, from any circumstance whatsoever, interest would otherwise be payable to the Banks Bank in excess of the maximum lawful amount, the interest payable to the Banks Bank shall be reduced to the maximum amount permitted under applicable law; and if from any circumstance the Banks Bank shall ever receive anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excessive interest shall be applied to the reduction of the principal balance of the Obligations of the Borrower and obligations to the payment of interest or, if such excessive interest exceeds Bank hereunder or under the unpaid balance of principal of the Obligations of the Borrower, such excess shall be refunded to the Borrower. All interest paid or agreed to be paid to the Banks shall, to the extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full of the principal of the Obligations of the Borrower other Related Documents (including the period of any renewal or extension thereof) so that the interest thereon for such full period shall not exceed the maximum amount permitted by applicable law. This section shall control all agreements between the Borrower Account Parties and the Banks and the AgentBank.

Appears in 1 contract

Samples: Reimbursement Agreement (Wellsford Real Properties Inc)

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