Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 105 contracts
Samples: Security Agreement (Maxum Petroleum Holdings, Inc.), Credit and Security Agreement (ARKO Corp.), Loan and Security Agreement (Bucyrus International Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 44 contracts
Samples: Security Agreement (Research Pharmaceutical Services, Inc.), Revolving Credit and Security Agreement (Horsehead Holding Corp), Security Agreement (Kenexa Corp)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders HSBC shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 5 contracts
Samples: Loan and Security Agreement (Acme United Corp), Loan and Security Agreement (Solazyme Inc), Loan and Security Agreement (Acme United Corp)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders Lender shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 5 contracts
Samples: Credit and Security Agreement (Manhattan Bridge Capital, Inc), Loan Agreement (Net Element International, Inc.), Term Loan and Security Agreement (U S Wireless Data Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders Lender shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 4 contracts
Samples: Term Loan and Security Agreement (Allied Motion Technologies Inc), Credit and Security Agreement (Memry Corp), Credit and Security Agreement (Omni Energy Services Corp)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowersthe Borrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders the Lender shall promptly refund such excess amount to Borrowers the Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 4 contracts
Samples: Loan and Security Agreement (Odetics Inc), Security Agreement (Fidelity National Information Solutions Inc), Revolving Credit Agreement (Fidelity National Financial Inc /De/)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under lawApplicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under lawApplicable Law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 4 contracts
Samples: Security Agreement (Empeiria Acquisition Corp), Intercreditor Agreement (Empeiria Acquisition Corp), Castle a M & Co
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under lawany Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under lawApplicable Law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 3 contracts
Samples: Loan and Security Agreement (Marketwise, Inc.), Loan and Security Agreement (Veeco Instruments Inc), Loan and Security Agreement (Marketwise, Inc.)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by the Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to the Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 3 contracts
Samples: Loan and Security Agreement (Forbes Energy International, LLC), Loan and Security Agreement (Velocity Express Corp), Loan and Security Agreement (Castle a M & Co)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied ratably to any unpaid principal balance of the Notes owed by Borrowersthe Issuer, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders Purchasers shall promptly refund such excess amount to Borrowers the Issuer and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 3 contracts
Samples: Note Purchase Agreement (Keane Group, Inc.), Note Purchase Agreement (Keane Group, Inc.), Note Purchase Agreement (Keane Group, Inc.)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by the Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders the Lender shall promptly refund such excess amount to the Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 3 contracts
Samples: Credit and Security Agreement (CVSL Inc.), Credit and Security Agreement (Sifco Industries Inc), And (Blonder Tongue Laboratories Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by the Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, the Lenders shall promptly refund such excess amount to the Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 3 contracts
Samples: Credit and Security Agreement (Stoneridge Inc), Credit and Security (Stoneridge Inc), Credit and Security Agreement (Stoneridge Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In Subject to Section 3.1(d) hereof in the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 3 contracts
Samples: Revolving Credit and Security Agreement (SMTC Corp), Security Agreement (SMTC Corp), Security Agreement (SMTC Corp)
Maximum Charges. In no event whatsoever shall interest and other --------------- charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 2 contracts
Samples: Air Methods Corp, Air Methods Corp
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by the Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, the Lenders shall promptly refund such excess amount to the Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 2 contracts
Samples: Credit and Security Agreement (Ramaco Resources, Inc.), Credit and Security Agreement (Ramaco Resources, Inc.)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under lawApplicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 2 contracts
Samples: Security Agreement (Virco MFG Corporation), Revolving Credit and Security Agreement (Virco MFG Corporation)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders Brascan shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Crystal River Capital, Inc.), Revolving Credit Agreement (Crystal River Capital, Inc.)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by the Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, the Lenders shall promptly refund such excess amount to the Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 2 contracts
Samples: Security Agreement (Lesco Inc/Oh), Revolving Credit (Radnor Holdings Corp)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible permitted under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 2 contracts
Samples: Security Agreement (Richton International Corp), Security Agreement (Richton International Corp)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, the affected Lender or Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 2 contracts
Samples: Credit and Security Agreement (Manhattan Bridge Capital, Inc), Credit and Security Agreement (Manhattan Bridge Capital, Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted pennitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders Lender shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.. 3.10
Appears in 2 contracts
Samples: Credit Agreement (Tecogen Inc.), Credit Agreement (Tecogen Inc.)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowersthe Borrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers the Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 2 contracts
Samples: Loan and Security Agreement (Forbes Energy Services Ltd.), Loan and Security Agreement (Forbes Energy Services Ltd.)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by the applicable Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to the applicable Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 2 contracts
Samples: Subordination Agreement (Twist Beauty S.a r.l. & Partners S.C.A.), Revolving Credit, Term Loan and Security Agreement (Twist Beauty S.a r.l. & Partners S.C.A.)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Security Agreement (Evergreen International Aviation Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowersof the Advances and thereafter, subject to Section 2.17, to the unpaid principal balance of the Term Loans, and if the then remaining excess amount is greater than the previously unpaid principal balancebalances, Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowersthe Borrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, the Lenders shall promptly refund such excess amount to Borrowers the Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate rate, permitted under law, such excess amount shall be first applied to any unpaid principal balance on Revolving Advances owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders Lender shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Security and Guaranty Agreement (Behringer Harvard Reit I Inc)
Maximum Charges. In no event whatsoever shall interest and other --------------- charges charged hereunder exceed the highest rate permissible under lawApplicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under lawApplicable Law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Eltrax Systems Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under lawany Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under lawApplicable Law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate. 3.7.
Appears in 1 contract
Samples: Loan and Security Agreement (Veeco Instruments Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event If such interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under lawsuch rate, such excess amount shall be first applied pro-rata to any unpaid principal balance owed by Borrowersof the Revolving Credit Note, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders Lender shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. law In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than dun the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Security Agreement (Centurion Wireless Technologies Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders Lender shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate. 3.6.
Appears in 1 contract
Samples: Credit, Term Loan And Security Agreement (Measurement Specialties Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under lawApplicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under lawApplicable Law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Credit, Term Loan and Security Agreement (Aaf McQuay Inc)
Maximum Charges. In no event whatsoever shall interest and any other charges charged hereunder exceed the highest rate permissible under applicable law. In the event interest and or any other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and applicable law the provisions hereof shall be deemed amended to provide for interest or such other charges to be charged at the highest permissible rate; any excess amount shall be applied to the principal balance of the applicable Term Loan, unless and until it is paid in full; and, if there is any excess remaining, Agent shall promptly refund such excess to Borrowers.
Appears in 1 contract
Samples: Loan and Security Agreement (Lexington Precision Corp)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance of Obligations owed by Borrowers, and if the then any remaining excess amount is greater than the previously unpaid principal balance, Lenders shall be promptly refund such excess amount refunded to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers Borrowing Agent and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Term Loan and Security Agreement (Direct Digital Holdings, Inc.)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders Term B Lender shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Term Loan and Security Agreement (Air Industries Group, Inc.)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowersthe Company, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders the Purchaser shall promptly refund such excess amount to Borrowers the Company and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Note Purchase Agreement (Planet Hollywood International Inc)
Maximum Charges. In no event whatsoever shall interest and other --------------- charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Credit and Security Agreement (World Wrestling Federation Entertainment Inc)
Maximum Charges. In no event whatsoever shall interest and other ---------------- charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event If interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under lawsuch rate, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders Lender shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Maximum Charges. In no event whatsoever shall interest and any other charges charged hereunder exceed the highest rate permissible under applicable law. In the event interest and or any other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and applicable law the provisions hereof shall be deemed amended to provide for interest or such other charges to be charged at the highest permissible rate; any excess amount shall be applied to the principal balance of the Advances then outstanding, unless and until it is paid in full; and, if there is any excess remaining, Agent shall promptly refund such excess to Borrowers.
Appears in 1 contract
Samples: Credit and Security Agreement (Lexington Precision Corp)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, then Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Maximum Charges. In no event whatsoever shall interest and other --------------- charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowersthe Company, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders the Purchaser shall promptly refund such excess amount to Borrowers the Company and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Bay Harbour Management Lc
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under lawApplicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, Applicable Law: (i) the interest rates hereunder will be reduced to the maximum rate permitted under Applicable Law; (ii) such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, ; and (iii) if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.greater
Appears in 1 contract
Samples: Guaranty and Security Agreement (Babcock & Wilcox Enterprises, Inc.)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, 32 40 and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event If such interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under lawsuch rate, such excess amount shall be first applied to any unpaid principal balance owed by Borrowersof the Revolving Credit Note, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders Lender shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Loan Agreement (South Texas Oil Co)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowersof the Advances, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Financing Agreement (Verrazano,inc.)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers,, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Loan and Security Agreement (Stanadyne Automotive Corp)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowersof the Advances and thereafter, subject to Section 2.17, to the unpaid principal balance of the Term Loan, and if the then remaining excess amount is greater than the previously unpaid principal balancebalances, Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.. IV. Intentionally Omitted V.
Appears in 1 contract
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund 29 such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such suc excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, the affected Lender or Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Credit and Security Agreement (Sachem Capital Corp.)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers the applicable Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Samples: Financing Agreement (Cpac Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In For greater certainty, in the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by the Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to the Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.
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Maximum Charges. In no event whatsoever shall interest and other --------------- charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowersthe Borrower, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders the Lender shall promptly refund such excess amount to Borrowers the Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
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