Common use of Maximum Rate Clause in Contracts

Maximum Rate. Regardless of any provision contained in any Credit Document, no Lender is entitled to contract for, charge, take, reserve, receive or apply, as interest on all or any part of the Obligations, any amount in excess of the Maximum Rate, and, if any Lender ever does so, then any excess shall be treated as a partial prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawful, (a) characterize any nonprincipal payment as an expense, fee or premium rather than as interest, (b) exclude voluntary prepayments and their effects, and (c) amortize, prorate, allocate and spread the total amount of interest throughout the entire contemplated term of the relevant Borrowings. However, if the Obligations are paid in full before the end of their full contemplated term, and if the interest received for the period that the Obligations were outstanding exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawful, be subject to any penalties provided by any Legal Requirements for contracting for, charging, taking, reserving or receiving interest in excess of the Maximum Amount). If the Legal Requirements of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", then those terms mean the "indicated rate ceiling" from time to time in effect under Chapter 303 of the Texas Finance Code. The Borrower agrees that Chapter 346 of the Texas Finance Code (which regulates certain revolving credit loan accounts and revolving tri-party accounts) does not apply to any Borrowings.

Appears in 5 contracts

Samples: Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp)

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Maximum Rate. Regardless of any provision contained in any Credit Loan Document, no Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the ObligationsObligation, any amount in excess of the Maximum Rate, and, if any Lender Lenders ever does do so, then any excess shall be treated as a partial prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawfulpermitted under applicable Law, (a) treat all Borrowings as but a single extension of credit (and Lenders and Borrower agree that is the case and that provision in this agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary prepayments and their effects, effects and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. However, if the Obligations Obligation are paid in full before the end of their full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by Law, be subject to any penalties provided by any Legal Requirements Laws for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Requirements Laws of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ,” then those terms mean the "indicated rate (weekly) ceiling" from time to time in effect under Chapter 303 as determined in accordance with Section 303.301 of the Texas Finance Code, as amended. The Borrower agrees that Chapter 346 of the Texas Finance Code Code, as amended (which regulates certain revolving credit loan accounts and revolving tri-party triparty accounts) ), does not apply to any Borrowingsthe Obligation.

Appears in 2 contracts

Samples: Credit Agreement (Goodrich Petroleum Corp), Credit Agreement (Goodrich Petroleum Corp)

Maximum Rate. Regardless of any provision contained in any Credit Document, no Lender is entitled to contract for, charge, take, reserve, receive or apply, as interest on all or any part of the Obligations, any amount in excess of the Maximum Rate, and, if any Lender ever does so, then any excess shall be treated as a partial prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawful, (a) characterize any nonprincipal payment as an expense, fee or premium rather than as interest, (b) exclude voluntary prepayments and their effects, and (c) amortize, prorate, allocate and spread the total amount of interest throughout the entire contemplated term of the relevant Borrowings. However, if the Obligations are paid in full before the end of their full contemplated term, and if the interest received for the period that the Obligations were outstanding exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawful, be subject to any penalties provided by any Legal Requirements for contracting for, charging, taking, reserving or receiving interest in excess of the Maximum Amount). If the Legal Requirements of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", then those terms mean the "indicated rate ceiling" from time to time in effect under Chapter 303 of the Texas Finance Code. The Borrower agrees that Chapter 346 of the Texas Finance Code (which regulates certain revolving credit loan accounts and revolving tri-party accounts) does not apply to any Borrowings.

Appears in 2 contracts

Samples: Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp)

Maximum Rate. Regardless of any provision contained in any Credit Loan ------------ Document, no Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the ObligationsObligation, any amount in excess of the Maximum Rate, and, if any Lender Lenders ever does do so, then any excess shall be treated as a partial prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawfulpermitted under applicable Law, (a) treat all Borrowings as but a single extension of credit (and Lenders and Borrower agree that is the case and that provision in this agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary prepayments and their effects, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. However, if the Obligations are Obligation is paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawful, be subject to any penalties provided by any Legal Requirements Laws for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Requirements Laws of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate ceiling" from time to time in effect under Chapter 303 Article 5069-1.04, Title 79, Revised Civil Statutes of the Texas Finance CodeTexas, as amended. The Borrower agrees that Chapter 346 15, Subtitle 79, Revised Civil Statutes of the Texas Finance Code Texas, 1925, as amended (which regulates certain revolving credit loan accounts and revolving tri-party triparty accounts) ), does not apply to any Borrowingsthe Obligation.

Appears in 2 contracts

Samples: Credit Agreement (Matrix Capital Corp /Co/), Credit Agreement (Matrix Bancorp Capital Trust I)

Maximum Rate. Regardless of any provision contained in any Credit Document, no Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the ObligationsObligation, any amount in excess of the Maximum Rate, and, if any Lender ever does so, then any excess shall be treated as a partial prepayment of principal (without regard to Section SECTION 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawful, (a) characterize any nonprincipal payment as an expense, fee fee, or premium rather than as interest, (b) exclude voluntary prepayments and their effects, and (c) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsPrincipal Debt. However, if the Obligations are Obligation is paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawful, be subject to any penalties provided by any Legal Requirements for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Requirements of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate ceiling" from time to time in effect under Chapter 303 Article 5069-1D.001, Revised Civil Statutes of the Texas Finance CodeTexas. The Borrower agrees that Chapter 346 346, Revised Civil Statutes of the Texas Finance Code (which regulates certain revolving credit loan accounts and revolving tri-party triparty accounts) does not apply to any Borrowings.

Appears in 2 contracts

Samples: Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp)

Maximum Rate. Regardless of any provision contained in any Credit Loan Document, no Lender is neither Administrative Agent nor any Holder shall ever be entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the ObligationsObligation, any amount in excess of the Maximum Rate, and, if any Lender Holders ever does do so, then any such excess shall be treated as deemed a partial prepayment of principal (without regard to Section 3.9) and treated hereunder as such and any remaining excess shall be refunded to the BorrowerBorrowers. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower Borrowers and the Lenders Holders shall, to the maximum extent lawfulpermitted under applicable Law, (a) treat all Borrowings as but a single extension of credit (and Holders and Borrowers agree that such is the case, (b) characterize any nonprincipal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary prepayments and their effectsthe effects thereof and any Termination Fee payable as a result thereof, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. However, if the Obligations are Obligation is paid and performed in full before prior to the end of their the full contemplated termterm thereof, and if the interest received for the actual period that the Obligations were outstanding of existence thereof exceeds the Maximum Amount, then the Lenders Holders shall refund any excess (and the Lenders may such excess, and, in such event, Holders shall not, to the extent lawfulpermitted by Law, be subject to any penalties provided by any Legal Requirements Laws for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Requirements of the State of Texas are applicable for For purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate weekly ceiling" from time to time in effect under Chapter 303 of the Texas Finance CodeCode Section 303.009, as amended. The Borrower Borrowers agrees that Chapter 346 of the Texas Finance Code Code, as amended (which regulates certain revolving credit loan accounts and revolving tri-party accounts) ), does not apply to any Borrowingsthe Obligation.

Appears in 1 contract

Samples: Term Loan and Note Purchase Agreement (Sun Healthcare Group Inc)

Maximum Rate. Regardless of any provision contained in any Credit DocumentLoan Document or any document related thereto, it is the intent of the parties to this Agreement that no Agent nor any Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the Obligations, Obligation any amount in excess of the Maximum RateRate or the Maximum Amount or receive any unearned interest in violation of any applicable law, and, if any Agent or any Lender ever does so, then any excess shall be treated as a partial repayment or prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower Borrower, Agents and the Lenders shall, to the maximum extent lawfulpermitted under applicable law, (a) treat all Borrowings as but a single extension of credit (and the Lenders and Borrower agree that is the case and that provision in this Agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary repayments or prepayments and their effects, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. HoweverIf, if however, the Obligations are Obligation is paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by applicable law, be subject to any penalties provided by any Legal Governmental Requirements for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Governmental Requirements of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated weekly rate ceiling" from time to time in effect under Chapter 303 Article 5069-1.D, Title 79, Revised Civil Statutes of the Texas Finance Code. The Borrower agrees that Chapter 346 of the Texas Finance Code (which regulates certain revolving credit loan accounts and revolving tri-party accounts) does not apply to any BorrowingsTexas, as amended.

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Maximum Rate. Regardless of any provision contained in any Credit DocumentLoan Document or any document related thereto, it is the intent of the parties to this Agreement that no Agent or any Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the Obligations, Obligation any amount in excess of the Maximum RateRate or the Maximum Amount or receive any unearned interest in violation of any applicable Law, and, if any Lender Lenders ever does do so, then any excess shall be treated as a partial repayment or prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawfulpermitted under applicable Law, (a) treat all Borrowings as but a single extension of credit (and Lenders and Borrower agree that is the case and that provision in this Agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal non-principal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary repayments or prepayments and their effects, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. However, if the Obligations are Obligation is paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by Law, be subject to any penalties provided by any Legal Requirements Laws for contracting for, charging, taking, reserving or receiving interest in excess of the Maximum Amount). If the Legal Requirements Laws of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate weekly ceiling" from time to time in effect under Chapter 303 Article 5069-1D.009, Title 79, Revised Civil Statutes of the Texas Finance CodeTexas, as amended. The Borrower agrees that Chapter 346 of the Texas Finance Code Code, as amended (which regulates certain revolving credit loan accounts and revolving tri-party accounts) ), does not apply to any Borrowingsthe Obligation.

Appears in 1 contract

Samples: Credit Agreement (Prologis Trust)

Maximum Rate. Regardless of any provision contained in any Credit DocumentLoan Document or any document related thereto, it is the intent of the parties to this Agreement that no Agent nor any Lender is entitled to contract for, charge, take, reserve, receive or apply, as interest on all or any part of the Obligations, Obligation any amount in excess of the Maximum RateRate or the Maximum Amount or receive any unearned interest in violation of any applicable law, and, if any Agent or any Lender ever does so, then any excess shall be treated as a partial repayment or prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower Borrower, Agents and the Lenders shall, to the maximum extent lawfulpermitted under applicable law, (a) treat all Borrowings as but a single extension of credit (and the Lenders and Borrower agree that is the case and that provision in this Agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal payment as an expense, fee or premium rather than as interest, (bc) exclude voluntary repayments or prepayments and their effects, and (cd) amortize, prorate, allocate and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. HoweverIf, if however, the Obligations are Obligation is paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by applicable law, be subject to any penalties provided by any Legal Governmental Requirements for contracting for, charging, taking, reserving or receiving interest in excess of the Maximum Amount). If the Legal Governmental Requirements of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate ceiling" from time to time-to-time in effect under Chapter 303 Article 5069- 1.04, Title 79, Revised Civil Statutes of the Texas Finance CodeTexas, as amended. The Borrower agrees that Chapter 346 15, Subtitle 79, Revised Civil Statutes of the Texas Finance Code Texas, 1925, as amended (which regulates certain revolving credit loan accounts and revolving tri-party accounts) ), does not apply to any Borrowingsthe Obligation, other than Article 15.10(b).

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

Maximum Rate. Regardless of any provision contained in any Credit Document, no Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the ObligationsObligation, any amount in excess of the Maximum Rate, and, if any Lender Lenders ever does do so, then any excess shall be treated as a partial prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawful, (a) treat all Borrowings as a single extension of credit (and Lenders and Borrower agree that is the case and that provision in this agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal payment (except for any payment specifically designated as interest in the Credit Documents) as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary prepayments and their effects, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. However, if the Obligations are Obligation is paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by Legal Requirement, be subject to any penalties provided by any Legal Requirements for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Requirements of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate ceiling" from time to time in effect under Chapter 303 Article 5069-1D.001, Revised Civil Statutes of the Texas Finance CodeTexas. The Borrower agrees that Chapter 346 346, Revised Civil Statutes of the Texas Finance Code (which regulates certain revolving credit loan accounts and revolving tri-party triparty accounts) does not apply to any Borrowingsthe Obligation.

Appears in 1 contract

Samples: Credit Agreement (Pier 1 Imports Inc/De)

Maximum Rate. Regardless of any provision contained in any Loan Document or any document related thereto, it is the intent of the parties to this Agreement that no Credit Document, no Lender is entitled to Party contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the Obligations, Obligation any amount in excess of the Maximum RateRate or the Maximum Amount or receive any unearned interest in violation of any applicable Law, and, if any Lender Lenders ever does do so, then any excess shall be treated as a partial repayment or prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawfulpermitted under applicable Law, (a) treat all Borrowings as but a single extension of credit (and Lenders and Borrower agree that is the case and that provision in this Agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal non-principal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary repayments or prepayments and their effects, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. However, if the Obligations are Obligation is paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by Law, be subject to any penalties provided by any Legal Requirements Laws for contracting for, charging, taking, reserving or receiving interest in excess of the Maximum Amount). If the Legal Requirements Laws of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate weekly ceiling" from time to time in effect under Chapter 303 Article 5069-1D.009, Title 79, Revised Civil Statutes of the Texas Finance CodeTexas, as amended. The Borrower agrees that Chapter 346 of the Texas Finance Code Code, as amended (which regulates certain revolving credit loan accounts and revolving tri-party accounts) ), does not apply to any Borrowingsthe Obligation.

Appears in 1 contract

Samples: Credit Agreement (Prologis Trust)

Maximum Rate. Regardless of any provision contained in any Credit Loan Document, no neither Administrative Agent nor any Lender is shall ever be entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the ObligationsObligation, any amount in excess of the Maximum Rate, and, if any Lender Lenders ever does do so, then any such excess shall be treated as deemed a partial prepayment of principal (without regard to Section 3.9) and treated hereunder as such and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawfulpermitted under applicable Law, (a) treat all Borrowings as but a single extension of credit (and Lenders and Borrower agree that such is the case and that provision herein for multiple Borrowings is for convenience only), (b) characterize any nonprincipal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary prepayments and their effectsthe effects thereof, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. However, if the Obligations are Obligation is paid and performed in full before prior to the end of their the full contemplated termterm thereof, and if the interest received for the actual period that the Obligations were outstanding of existence thereof exceeds the Maximum Amount, then the Lenders shall refund any excess (and the such excess, and, in such event, Lenders may shall not, to the extent lawfulpermitted by Law, be subject to any penalties provided by any Legal Requirements Laws for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Requirements of the State of Texas are applicable for For purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate weekly ceiling" from time to time in effect under Chapter 303 of the Texas Finance CodeCode Section 303.303, as amended. The Borrower agrees that Chapter 346 of the Texas Finance Code Code, as amended (which regulates certain revolving credit loan accounts and revolving tri-party accounts) ), does not apply to any Borrowingsthe Obligation.

Appears in 1 contract

Samples: Revolving Credit Agreement (Pier 1 Imports Inc/De)

Maximum Rate. Regardless of any provision contained in any Credit Loan ------------ Document, no Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the ObligationsUS Obligation or UK Obligation, any amount in excess of the Maximum Rate, and, if any Lender ever does so, then any excess shall be treated as a partial prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrowerappropriate Borrower or Borrowers. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower Borrowers, Administrative Agent, and the Lenders shall, to the maximum extent lawful, (a) treat all Borrowings under the US Facility as but a single extension of credit and all Borrowings under the UK Facility as but a single extension of credit (and Lenders, Administrative Agent, and Borrowers agree that is the case and that provision in this agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary prepayments and their effects, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant Borrowingsthis agreement. However, if the Obligations are applicable Principal Debt is paid in full before the end of their full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders each applicable Lender shall refund any excess (and the Lenders may not, to the extent lawful, be subject to any penalties provided by any Legal Requirements applicable laws for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Requirements of the State of Texas laws are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate ceiling" from time to time in effect under Chapter 303 Article 5069- 1.04, Title 79, Revised Civil Statutes of the Texas Finance CodeTexas. The Borrower agrees Borrowers agree that Chapter 346 15, Credit Agreement ---------------- Subtitle 79, Revised Civil Statutes of the Texas Finance Code Texas, 1925 (which regulates certain revolving credit loan accounts and revolving tri-party triparty accounts) ), does not apply to any Borrowingsthe Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Trikon Technologies Inc)

Maximum Rate. Regardless of any provision contained in any Credit DocumentLoan Document or any document related thereto, no it is the intent of the parties to this Agreement that neither Administrative Agent nor any Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the Obligations, Obligations any amount in excess of the Maximum RateRate or the Maximum Amount or receive any unearned interest in violation of any applicable Legal Requirements, and, if any Lender Administrative Agent or Lenders ever does do so, then any excess shall be treated as a partial repayment or prepayment of principal (without regard to Section 3.9) the Principal Debt and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower Borrower, Administrative Agent, and the Lenders shall, to the maximum extent lawfulpermitted under applicable Legal Requirements, (ai) treat all Loans as but a single extension of credit (and Administrative Agent, Lenders, and Borrower agree that is the case and that provision in this Agreement for multiple Loans is for convenience only), (ii) characterize any nonprincipal non-principal payment as an expense, fee fee, or premium rather than as interest, (biii) exclude voluntary repayments or prepayments and their effectseffects (solely for purposes of this calculation), and (civ) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligations. However, if the Obligations are paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by Legal Requirements, be subject to any penalties provided by any Legal Requirements for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Requirements of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ,” then those terms mean the "indicated rate “weekly ceiling" from time to time in effect under Chapter 303 of the Texas Finance CodeCode § 303.001, as amended, as limited by Texas Finance Code § 303.009, as amended. The Borrower agrees that Chapter 346 of the Texas Finance Code Code, as amended (which regulates certain revolving credit loan accounts and revolving tri-party accounts) ), does not apply to any Borrowingsthe Obligations.

Appears in 1 contract

Samples: Credit Agreement (Trammell Crow Co)

Maximum Rate. Regardless of any provision contained in any Credit Loan Document, no Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the ObligationsObligation, any amount in excess of the Maximum Rate, and, if any Lender Lenders ever does do so, then any excess shall be treated as a partial prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawfulpermitted under applicable Law, (a) treat all Borrowings as but a single extension of credit (and Lenders and Borrower agree that is the case and that provision in this agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary prepayments and their effects, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. However, if the Obligations are Obligation is paid in full before the end of their full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by Law, be subject to any penalties provided by any Legal Requirements Laws for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Requirements Laws of the State of Texas are applicable for purposes of determining the "Maximum RateMAXIMUM RATE" or the "Maximum Amount", MAXIMUM AMOUNT," then those terms mean the "indicated rate ceilingINDICATED RATE CEILING" from time to time in effect under Chapter 303 of the Texas Finance CodeARTICLE 5069-1.04, TITLE 79, REVISED CIVIL STATUTES OF TEXAS, as amended. The Borrower agrees that Chapter 346 of the Texas Finance Code CHAPTER 15, SUBTITLE 79, REVISED CIVIL STATUTES OF TEXAS, 1925, as amended (which regulates certain revolving credit loan accounts and revolving tri-party triparty accounts) ), does not apply to any Borrowingsthe Obligation.

Appears in 1 contract

Samples: Credit Agreement (Magnetek Inc)

Maximum Rate. Regardless of any provision contained in any Credit Loan Document, no Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the Obligations, any amount in excess of the Maximum Rate, and, if any Lender Lenders ever does do so, then any excess shall be treated as a partial prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawfulpermitted under applicable Law, (a) treat all Borrowings as but a single extension of credit (and Lenders and Borrower agree that is the case and that provision in this agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary prepayments and their effects, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligations. However, if the Obligations are paid in full before the end of their full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by Law, be subject to any penalties provided by any Legal Requirements Laws for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Requirements Laws of the State of Texas are applicable for purposes of determining the "Maximum RateMAXIMUM RATE" or the "Maximum Amount", MAXIMUM AMOUNT," then those terms mean the "indicated rate ceilingINDICATED RATE CEILING" from time to time in effect under Chapter 303 of the Texas Finance CodeARTICLE 5069-1.04, TITLE 79, REVISED CIVIL STATUTES OF TEXAS, as amended. The Borrower agrees that Chapter 346 of the Texas Finance Code CHAPTER 15, SUBTITLE 79, REVISED CIVIL STATUTES OF TEXAS, 1925, as amended (which regulates certain revolving credit loan accounts and revolving tri-party triparty accounts) ), does not apply to any Borrowingsthe Obligations.

Appears in 1 contract

Samples: Credit Agreement (Pillowtex Corp)

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Maximum Rate. Regardless of any provision contained in any Credit Loan Document, no Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the ObligationsObligation, any amount in excess of the Maximum Rate, and, if any Lender Lenders ever does do so, then any excess shall be treated as a partial prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawfulpermitted under applicable Law, (a) treat all Borrowings as but a single extension of credit (and Lenders and Borrower agree that is the case and that provision in this agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary prepayments and their effects, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. However, if the Obligations are Obligation is paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by Law, be subject to any penalties provided by any Legal Requirements Laws for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Requirements Laws of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate weekly ceiling" from time to time in effect under Chapter 303 of the Texas Finance CodeCode Section 303.305. The Borrower agrees that Chapter 346 of the Texas Finance Code Code, as amended (which regulates certain revolving credit loan accounts and revolving tri-party accounts) ), does not apply to any Borrowingsthe Obligation.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Computer Services Inc)

Maximum Rate. Regardless of any provision contained in any Credit Documentof the Loan Papers, no Lender is shall never be entitled to contract for, charge, take, reserve, receive or apply, as interest on all the Obligation, or any part of the Obligationsthereof, any amount in excess of the Maximum Rate, and, if any in the event Lender ever does socontracts for, then charges, takes, reserves, receives or applies as interest any excess such excess, it shall be treated as deemed a partial prepayment of principal (without regard to Section 3.9) and treated hereunder as such and any remaining excess shall be refunded to the Borrower. In determining if whether or not the interest paid or payable payable, under any specific contingency, exceeds the Maximum Rate, the Borrower and the Lenders Lender shall, to the maximum extent lawful, permitted under applicable law: (a) treat all Advances as but a single extension of credit (and Lender and Borrower agree that such is the case and that provision herein for multiple Advances is for convenience only); (b) characterize any nonprincipal payment as an expense, fee or premium rather than as interest, ; (bc) exclude voluntary prepayments and their effects, the effects thereof; and (cd) amortize, prorate, allocate and spread "spread" the total amount of interest throughout the entire contemplated term of the relevant Borrowings. HoweverObligation; provided that, if the Obligations are Obligation is paid and performed in full before prior to the end of their the full contemplated termterm thereof, and if the interest received for the actual period that the Obligations were outstanding of existence thereof exceeds the Maximum Amount, then the Lenders Lender shall refund any excess (and the Lenders may notsuch excess, and, in such event, Lender shall not to the extent lawfulpermitted bylaw, be subject to any penalties provided by any Legal Requirements laws for contracting for, charging, taking, reserving or receiving interest in excess of the Maximum Amount). If To the Legal Requirements extent the laws of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", then those terms such term shall mean the "indicated rate ceiling" from time to time in effect under Article 1.04, Title 79, Revised Civil Statutes of Texas, as amended. Pursuant to Article 15.10(b) of Chapter 303 15, Subtitle 79, Revised Civil Statutes of the Texas Finance Code. The Texas, 1925, as amended, Borrower agrees that such Chapter 346 of the Texas Finance Code 15 (which regulates certain revolving credit loan accounts and revolving tri-party accounts) does shall not govern or in any manner apply to any Borrowingsthe Obligation.

Appears in 1 contract

Samples: Credit Agreement (Crescent Operating Inc)

Maximum Rate. Regardless of any provision contained in any Credit Document, no Lender is entitled to contract for, charge, take, reserve, receive or apply, as interest on all or any part of the Obligations, any amount in excess of the Maximum Rate, and, if any Lender ever does so, then any excess shall be treated as a partial prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawful, (a) characterize any nonprincipal payment as an expense, fee or premium rather than as interest, (b) exclude voluntary prepayments and their effects, and (c) amortize, prorate, allocate and spread the total amount of interest throughout the entire contemplated term of the relevant Borrowings. However, if the Obligations are paid in full before the end of their full contemplated term, and if the interest received for the period that the Obligations were outstanding exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawful, be subject to any penalties provided by any Legal Requirements for contracting for, charging, taking, reserving or receiving interest in excess of the Maximum Amount). If the Legal Requirements of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", then those terms mean the "indicated rate ceiling" from time to time in effect under Chapter 303 of the Texas Finance Code. The Borrower agrees that Chapter 346 of the Texas Finance Code (which regulates certain revolving credit loan accounts and revolving tri-party accounts) does not apply to any Borrowings.

Appears in 1 contract

Samples: Term Credit Agreement (Teppco Partners Lp)

Maximum Rate. Regardless of any provision contained in any Credit DocumentLoan Document or any document related thereto, no it is the intent of the parties to this Agreement that neither Agent nor any Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the Obligations, Obligation any amount in excess of the Maximum RateRate or the Maximum Amount or receive any unearned interest in violation of any applicable Law, and, if any Lender Lenders ever does do so, then any excess shall be treated as a partial repayment or prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawfulpermitted under applicable Law, (a) treat all Borrowings as but a single extension of credit (and Lenders and Borrower agree that is the case and that provision in this Agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal non-principal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary repayments or prepayments and their effects, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. However, if the Obligations are Obligation is paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by Law, be subject to any penalties provided by any Legal Requirements Laws for contracting for, charging, taking, reserving or receiving interest in excess of the Maximum Amount). If the Legal Requirements Laws of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate ceiling" from time to time-to-time in effect under Chapter 303 Article 5069-1.04, Title 79, Revised Civil Statutes of the Texas Finance CodeTexas, as amended. The Borrower agrees that Chapter 346 15, Subtitle 79, Revised Civil Statutes of the Texas Finance Code Texas, 1925, as amended (which regulates certain revolving credit loan accounts and revolving tri-party accounts) ), does not apply to any Borrowingsthe Obligation, other than Article 15.10(b).

Appears in 1 contract

Samples: Credit Agreement (Security Capital Industrial Trust)

Maximum Rate. Regardless of any provision contained in any Credit Loan Document, no it is the intention of Borrower and Lender is entitled to that Lender may not contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the Obligations, Obligation any amount in excess of the Maximum RateRate or the Maximum Amount or receive any unearned interest, and, in violation of any applicable Law and if any Lender ever does so, then any excess shall will be deemed to be and treated as a partial prepayment or repayment of the outstanding principal (without regard to Section 3.9) portion of the Obligation and any remaining excess shall will be refunded to the Borrower. In determining if the whether interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders Lender shall, to the maximum extent lawfulpermitted under applicable Law, (a) treat all Borrowings as a single extension of credit (Lender and Borrower agree that such is the case and that provision in this Agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal non-principal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary prepayments or repayments and their effects, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. However, if the Obligations are Obligation is paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders Lender shall refund any excess (and the Lenders Lender may not, to the extent lawfulpermitted by Law, be subject to any penalties provided by any Legal Requirements Laws for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Requirements 11 Laws of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate ceiling" from time to time in effect under Chapter 303 of the Texas Finance Code, as amended. The Borrower agrees that Chapter 346 of the Texas Finance Code Code, as amended (which regulates certain revolving credit loan accounts and revolving tri-party accounts) ), does not govern or apply to any Borrowingsthe Obligation.

Appears in 1 contract

Samples: Credit Agreement (Forbes Medi Tech Inc)

Maximum Rate. Regardless of any provision contained in any Credit Document, no Lender is entitled to contract for, charge, take, reserve, receive or apply, as interest on all or any part of the Obligations, any amount in excess of the Maximum Rate, and, if any Lender ever does so, then any excess shall be treated as a partial prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawful, (a) characterize any nonprincipal payment as an expense, fee or premium rather than as interest, (b) exclude voluntary prepayments and their effects, and (c) amortize, prorate, allocate and spread the total amount of interest throughout the entire contemplated term of the relevant Borrowings. However, if the Obligations are paid in full before the end of their full contemplated term, and if the interest received for the period that the Obligations were outstanding exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawful, be subject to any penalties provided by any Legal Requirements for contracting for, charging, taking, reserving or receiving interest in excess of the Maximum Amount). If the Legal Requirements of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", then those terms mean the "indicated rate ceiling" from time to time in effect under Chapter 303 of the Texas Finance Code. The Borrower agrees that Chapter 346 of the Texas Finance Code (which regulates certain revolving credit loan accounts and revolving tri-party accounts) does not apply to any Borrowings.certain

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Maximum Rate. Regardless of any provision contained in any Credit DocumentLoan Document or any document related thereto, no it is the intent of the parties to this Agreement that neither Administrative Agent nor any Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the Obligations, Obligations any amount in excess of the Maximum RateRate or the Maximum Amount or receive any unearned interest in violation of any applicable Legal Requirements, and, if any Lender Administrative Agent or Lenders ever does do so, then any excess shall be treated as a partial repayment or prepayment of principal (without regard to Section 3.9) the Principal Debt and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower Borrower, Administrative Agent, and the Lenders shall, to the maximum extent lawfulpermitted under applicable Legal Requirements, (ai) treat all Loans as but a single extension of credit (and Administrative Agent, Lenders, and Borrower agree that is the case and that provision in this Agreement for multiple Loans is for convenience only), (ii) characterize any nonprincipal non-principal payment as an expense, fee fee, or premium rather than as interest, (biii) exclude voluntary repayments or prepayments and their effectseffects (solely for purposes of this calculation), and (civ) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligations. However, if the Obligations are paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by Legal Requirements, be subject to any penalties provided by any Legal Requirements for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Requirements of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate weekly ceiling" from time to time in effect under Chapter 303 of the Texas Finance CodeCode § 303.001, as amended, as limited by Texas Finance Code § 303.009, as amended. The Borrower Xxxxxxxx agrees that Chapter 346 of the Texas Finance Code Code, as amended (which regulates certain revolving credit loan accounts and revolving tri-party accounts) ), does not apply to any Borrowingsthe Obligations.

Appears in 1 contract

Samples: Credit Agreement (Trammell Crow Co)

Maximum Rate. Regardless of any provision contained in any Credit Document, no Lender is entitled to contract for, charge, take, reserve, receive or apply, as interest on all or any part of the Obligations, any amount in excess of the Maximum Rate, and, if any Lender ever does so, then any excess shall be treated as a partial prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower and the Lenders shall, to the maximum extent lawful, (a) characterize any nonprincipal payment as an expense, fee or premium rather than as interest, (b) exclude voluntary prepayments and their effects, and (c) amortize, prorate, allocate and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsTerm Loan. However, if the Obligations are paid in full before the end of their full contemplated term, and if the interest received for the period that the Obligations were outstanding exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawful, be subject to any penalties provided by any Legal Requirements for contracting for, charging, taking, reserving or receiving interest in excess of the Maximum Amount). If the Legal Requirements of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", then those terms mean the "indicated rate ceiling" from time to time in effect under Chapter 303 of the Texas Finance Code. The Borrower agrees that Chapter 346 of the Texas Finance Code (which regulates certain revolving credit loan accounts and revolving tri-party accounts) does not apply to any the Borrowings.

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Maximum Rate. Regardless of any provision contained in any Loan Document or any document related thereto, it is the intent of the parties to this Agreement that no Credit Document, no Lender is entitled to Party contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the Obligations, Obligation any amount in excess of the Maximum RateRate or the Maximum Amount or receive any unearned interest in violation of any applicable Law, and, if any Lender Lenders ever does do so, then any excess shall be treated as a partial repayment or prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the applicable Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the each Borrower and the Lenders shall, to the maximum extent lawfulpermitted under applicable Law, (a) treat all Borrowings as but a single extension of credit (and Lenders and each Borrower agree that this is the case and that provision in this Agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal non-principal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary repayments or prepayments and their effects, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. However, if the Obligations are Obligation is paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by Law, be subject to any penalties provided by any Legal Requirements Laws for contracting for, charging, taking, reserving or receiving interest in excess of the Maximum Amount). If the Legal Requirements Laws of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated rate weekly ceiling" from time to time in effect under Chapter 303 of the Texas Finance CodeCode ' 303.001, as amended, as limited by Texas Finance Code ' 303.305. The Each Borrower agrees that Chapter 346 of the Texas Finance Code Code, as amended (which regulates certain revolving credit loan accounts and revolving tri-party accounts) ), does not apply to any Borrowingsthe Obligation.

Appears in 1 contract

Samples: Credit Agreement (Prologis Trust)

Maximum Rate. Regardless of any provision contained in any Credit DocumentLoan Document or any document related thereto, it is the intent of the parties to this Agreement that no Agent nor any Lender is entitled to contract for, charge, take, reserve, receive receive, or apply, as interest on all or any part of the Obligations, Obligation any amount in excess of the Maximum RateRate or the Maximum Amount or receive any unearned interest in violation of any applicable law, and, if any Agent or any Lender ever does so, then any excess shall be treated as a partial repayment or prepayment of principal (without regard to Section 3.9) and any remaining excess shall be refunded to the Borrower. In determining if the interest paid or payable exceeds the Maximum Rate, the Borrower Borrower, Agents and the Lenders shall, to the maximum extent lawfulpermitted under applicable law, (a) treat all Borrowings as but a single extension of credit (and the Lenders and Borrower agree that is the case and that provision in this Agreement for multiple Borrowings is for convenience only), (b) characterize any nonprincipal payment as an expense, fee fee, or premium rather than as interest, (bc) exclude voluntary repayments or prepayments and their effects, and (cd) amortize, prorate, allocate allocate, and spread the total amount of interest throughout the entire contemplated term of the relevant BorrowingsObligation. HoweverIf, if however, the Obligations are Obligation is paid in full before the end of their its full contemplated term, and if the interest received for the its actual period that the Obligations were outstanding of existence exceeds the Maximum Amount, then the Lenders shall refund any excess (and the Lenders may not, to the extent lawfulpermitted by applicable law, be subject to any penalties provided by any Legal Governmental Requirements for contracting for, charging, taking, reserving reserving, or receiving interest in excess of the Maximum Amount). If the Legal Governmental Requirements of the State of Texas are applicable for purposes of determining the "Maximum Rate" or the "Maximum Amount", ," then those terms mean the "indicated weekly rate ceiling" from time to time in effect under Chapter 303 Article 5069-1.D, Title 79, Revised Civil Statutes of Texas, as amended. A. ORDER OF APPLICATION. Any payments (including proceeds from the Texas Finance Codeexercise of any Rights) shall be applied in the following order: (a) to all fees and expenses for which any Agent or the Lenders have not been paid or reimbursed in accordance with the Loan Documents (and if such payment is less than all unpaid or unreimbursed fees and expenses, then the payment shall be paid against unpaid and unreimbursed fees and expenses in the order of incurrence or due date); (b) to accrued interest on the Term Loans; and (c) to the remaining Obligation in the order and manner as the Required Lenders deem appropriate. The Borrower agrees that Chapter 346 Each payment or prepayment shall be distributed to each Lender in accordance with its Pro Rata Share of the Texas Finance Code (which regulates certain revolving credit loan accounts and revolving tri-party accounts) does not apply to any Borrowingssuch payment or prepayment.

Appears in 1 contract

Samples: Credit Agreement (Prentiss Properties Trust/Md)

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