Common use of Loan Charges Clause in Contracts

Loan Charges. If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from me that exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the Principal I owe under this Note or by making a direct payment to me. If a refund reduces Principal, the reduction will be treated as a partial Prepayment.

Loan Charges. If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from me that which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the Principal I owe under this Note or by making a direct payment to me. If a refund reduces Principal, the reduction will be treated as a partial Prepayment.

Loan Charges. If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (ai) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (bii) any sums already collected from me that which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the Principal principal I owe under this Note or by making a direct payment to me. If a refund reduces Principalprincipal, the reduction will be treated as a partial Prepaymentprepayment.

Loan Charges. If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (ai) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (bii) any sums already collected from me that which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the Principal principal I owe under this Note or by making a direct payment to me. If a refund reduces Principalprincipal, the reduction will be treated as a partial Prepaymentpayment.

Loan Charges. If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from me that Borrower which exceeded permitted limits will be refunded to meBorrower. The Note Holder may choose to make this refund by reducing the Principal I owe Borrower owes under this Note or by making a direct payment to meBorrower. If a refund reduces Principal, the reduction will be treated as a partial Prepayment.

Loan Charges. If a law, which applies to this loan Agreement or any Loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan Agreement exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from me that which exceeded permitted limits will be refunded to meBorrower, without interest thereon. The Note Holder Lender may choose to make this refund by reducing the Principal I owe principal Borrower owes under this Note Agreement or by making a direct payment to meBorrower. If a refund reduces Principalprincipal, the reduction will be treated as a partial Prepaymentprepayment.

Loan Charges. If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from me that Borrower which exceeded permitted limits will be refunded to merefunded. The Note Holder Lender may choose to make this refund by reducing the Principal I owe outstanding principal under this Note or by making a direct payment to meBorrower. If a refund reduces Principalprincipal, the reduction will be treated as a partial Prepaymentprepayment.

Loan Charges. If a law, which applies to this loan and which sets set maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (ai) any such loan charge charges shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (bii) any sums already collected from me that which exceeded permitted limits will be refunded to me. The Note Holder Lender may choose to make this refund by reducing the Principal principal I owe under this Consolidated Note or by making a direct payment to me. If a refund reduces Principalprincipal, the reduction will be treated as a partial Prepaymentprepayment.

Loan Charges. If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (ai) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (bii) any sums already collected from me that us which exceeded permitted limits will be refunded to meus. The Note Holder may choose to make this refund by reducing the Principal I we owe under this Note or by making a direct payment to meus. If a refund reduces the Principal, the reduction will be treated as a partial Prepayment.

Loan Charges. If a law, which law that applies to this loan and which sets maximum loan charges, charges is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (ai) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (bii) any sums already collected from me that which exceeded permitted limits will be refunded to merefunded. The Note Holder Bank may choose to make this refund by reducing the Principal I owe principal owed under this Note or by making a direct payment to meBorrower. If a refund reduces Principalprincipal, the reduction will be treated as a partial Prepaymentprepayment but shall not give rise to any prepayment fee.

Loan Charges. If a apploicable law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: then (a) any such loan charge shall will be reduced by the amount necessary to reduce the charge to the permitted limit; , and (b) any sums already collected from me that which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the Principal I owe under this Note or by making a direct payment to me. If a refund reduces Principal, the reduction will be treated as a partial Prepayment.

Loan Charges. If a lawlow, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected collect in connection with this loan exceed the permitted limits, then: the (ai) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (bii) any such sums already collected from me that which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the Principal principal I owe under this Note or by making a direct payment to me. If a refund reduces Principalprincipal, the reduction will be treated as a partial Prepaymentprepayment.

Loan Charges. If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (ai) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (bii) any sums already collected from me that exceeded which exceed permitted limits will be refunded to me. The Note Holder Noteholder may choose to make this refund by reducing the Principal I owe principal owed under this Note or by making a direct payment to meBorrower. If a refund reduces Principalprincipal, the reduction will be treated as a partial Prepaymentprepayment.

Loan Charges. If a law, which applies to this loan and which applicable law sets maximum loan charges, and that law is finally interpreted so that the any interest or other loan charges collected or to be collected in connection with this the loan exceed the permitted limits, then: then (a) any such loan charge shall will be reduced by the amount necessary to reduce the charge to the permitted limit; , and (b) any sums already collected from me that exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the Principal I owe under this Note or by making a direct payment to me. If a refund reduces Principal, the reduction will be treated as a partial Prepayment.