Common use of Maximum Charges Clause in Contracts

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under 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.

Appears in 29 contracts

Samples: Revolving Credit and Security Agreement (Great Lakes Dredge & Dock CORP), Security Agreement (Allegheny Technologies Inc), Loan and Security Agreement (Ati Inc)

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Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under 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.

Appears in 14 contracts

Samples: Assignment Agreement (Quantum Corp /De/), Guaranty and Security Agreement (Dasan Zhone Solutions Inc), Security Agreement (Quantum Corp /De/)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under Applicable Law: (ia) the interest rates hereunder will be reduced to the maximum rate permitted under Applicable Law; (iib) such excess amount shall be first applied to any unpaid principal balance owed by Borrowers; and (iiic) 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: Credit and Security Agreement (Perma-Pipe International Holdings, Inc.), Security Agreement (AutoWeb, Inc.), Security Agreement (Perma-Pipe International Holdings, Inc.)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Lawlaw. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under Applicable Law: (i) the law, such interest rates hereunder will or other charges shall be reduced deemed to the maximum be decreased to such highest rate as is permitted under Applicable Law; (ii) such the law and the excess amount paid by Borrower, if any, shall be first applied to any unpaid principal balance owed by Borrowers; Borrower, 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 Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 3 contracts

Samples: Credit and Security Agreement (Pc Connection Inc), Credit and Security Agreement (Pc Connection Inc), Credit and Security Agreement (Pc Connection Inc)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under 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.. [PHI Group] Revolving Credit, Term Loan and Security Agreement

Appears in 2 contracts

Samples: Loan and Security Agreement (PHI Group, Inc./De), Loan and Security Agreement (PHI Group, Inc./De)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Lawapplicable law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under Applicable Lawapplicable law: (i) the interest rates hereunder will be reduced to the maximum rate permitted under Applicable Lawapplicable law; (ii) such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower; 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 Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 2 contracts

Samples: Credit Agreement (LiveVox Holdings, Inc.), Credit Agreement (LiveVox Holdings, Inc.)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under 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 BorrowersBorrower; 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 Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 2 contracts

Samples: Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under Applicable Law: (ia) the interest rates hereunder will be reduced to the maximum rate permitted under Applicable Law; (iib) such excess amount shall be first applied to any unpaid principal balance owed by BorrowersIssuer; and (iiic) if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders the Collateral Agent and the Note Administrative Agent shall promptly refund such excess amount to Borrowers the Issuer, to the extent not previously distributed to the Note Purchasers, and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 2 contracts

Samples: Note Purchase and Guaranty Agreement (Athena Consumer Acquisition Corp.), Note Purchase and Guaranty Agreement (Next.e.GO B.V.)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under 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. 3.7.

Appears in 2 contracts

Samples: Guaranty and Security Agreement (Babcock & Wilcox Enterprises, Inc.), Cca Industries Inc

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under 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 BorrowersBorrower; 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 Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 2 contracts

Samples: Loan and Security Agreement (Banyan Acquisition Corp), Term Loan Credit and Guaranty Agreement (New Enterprise Stone & Lime Co., Inc.)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under 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 Cash Collateral Providers 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: And (Babcock & Wilcox Enterprises, Inc.)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder or under any other Loan Document exceed the highest rate or amount permissible under Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate or amount permitted under Applicable Law: (i) the interest rates hereunder will be reduced to the maximum rate or amount permitted under Applicable Law; (ii) such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower; 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 Borrower and the provisions hereof shall be deemed amended to provide for such permissible raterate or amount.

Appears in 1 contract

Samples: Term Loan Credit and Guaranty Agreement (New Enterprise Stone & Lime Co., Inc.)

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Maximum Charges. (a) In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable LawLaw (the “Maximum Rate”). In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under Applicable Law: Maximum Rate (i) the interest rates hereunder will be reduced to the maximum rate permitted under Applicable LawMaximum Rate; (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.

Appears in 1 contract

Samples: Revolving Loan Credit Agreement (Servicesource International, Inc.)

Maximum Charges. In no event whatsoever shall interest and other --------------- charges charged hereunder exceed the highest rate permissible under Applicable Lawlaw. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under Applicable Law: (i) the law, such interest rates hereunder will or other charges shall be reduced deemed to the maximum be decreased to such highest rate as is permitted under Applicable Law; (ii) such the law and the excess amount paid by Borrower, if any, shall be first applied to any unpaid principal balance owed by Borrowers; Borrower, 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 Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Credit and Security Agreement (Pc Connection Inc)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under 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. 3.6.

Appears in 1 contract

Samples: Loan and Security Agreement (United States Steel Corp)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Lawapplicable law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under Applicable Lawapplicable law: (i) the interest rates hereunder will be reduced to the maximum rate permitted under Applicable Lawapplicable law; (ii) such excess amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower; 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 Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.. 074658.16087/130783594v.4

Appears in 1 contract

Samples: Credit Agreement (LiveVox Holdings, Inc.)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under 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.. 3.7

Appears in 1 contract

Samples: 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 Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under 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 BorrowersBorrower; 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.promptly

Appears in 1 contract

Samples: Version Term Loan and Security Agreement (Redfin Corp)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under Applicable Law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under 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 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 1 contract

Samples: Security Agreement (Quality Gold Holdings, Inc.)

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