Common use of No Usurious Interest Clause in Contracts

No Usurious Interest. Notwithstanding any provision herein or in the Note to the contrary, in no event shall the rate of interest on the loan made pursuant to Section 3.03 or the Note exceed the maximum lawful non-usurious rate of interest, if any, which the Issuer is permitted to charge the Borrower from time to time under the laws of the State of Texas and the United States of America in effect on the Issue Date permitting the charging and collecting of the highest permissible lawful non-usurious interest rate on such loan (hereinafter referred to as “Applicable Law”), and in no event shall the aggregate of the interest on such loan and the Note, plus any other amounts paid in connection herewith which are deemed “interest” under Applicable Law in effect on the Issue Date, ever exceed the maximum amount of interest which could be lawfully charged on such loan and the Note under Applicable Law, and if any amount of interest taken or received by the Issuer or assigns shall be in excess of the maximum amount of interest which, under Applicable Law, could lawfully have been collected on such loan and the Note, then such excess shall be deemed to have been the result of a mathematical error by the Issuer, the Trustee, and the Borrower and shall be refunded promptly to the Borrower. All amounts paid or agreed to be paid in connection with the indebtedness evidenced by this Loan Agreement and the Note which under Applicable Law would be deemed “interest” shall, to the extent permitted by Applicable Law, be amortized, prorated, allocated, and spread throughout the full term of this Loan Agreement.

No Usurious Interest. Notwithstanding any provision herein or in It is the Note intention of the parties hereto to comply strictly to usury laws applicable to Lender. Interest on the contrary, Obligations is expressly limited so that in no contingency or event whatsoever, whether by acceleration of the maturity of the Term Note or otherwise, shall the rate of interest on the loan made pursuant to Section 3.03 taken, reserved, contracted for, charged or the Note exceed the maximum lawful non-usurious rate of interest, if any, which the Issuer is permitted to charge the Borrower from time to time under the laws of the State of Texas and the United States of America in effect on the Issue Date permitting the charging and collecting of the highest permissible lawful non-usurious interest rate on such loan (hereinafter referred to as “Applicable Law”), and in no event shall the aggregate of the interest on such loan and the Note, plus any other amounts paid in connection herewith which are deemed “interest” under Applicable Law in effect on the Issue Date, ever received by Lender exceed the maximum amount permissible under applicable law. If, from any circumstances whatsoever, fulfillment of any provisions of this Guaranty, the Term Note or the other Security Documents or of any other document evidencing, securing or pertaining to the indebtedness evidenced by the Term Note, at the time performance of such provision shall be due, would be usurious under applicable law, then, ipso facto, the obligation to be fulfilled shall be reduced to the limit of such validity so that the aggregate consideration which constitutes interest which could be lawfully that is contracted for, taken, reserved, charged on such loan and the Note under Applicable Lawfor, and if any amount of interest taken or received by the Issuer or assigns shall be in excess of not exceed the maximum amount of allowed by applicable law and such amount that would otherwise be excessive interest which, under Applicable Law, could lawfully have been collected on such loan and the Note, then such excess shall be deemed applied to have been the result reduction of a mathematical error by the Issuer, principal amount owing under the Trustee, and Term Note or on account of any other indebtedness of the Borrower or Guarantor to Lender, or if principal of the Term Note and shall be such other indebtedness has been paid in full, refunded promptly to the BorrowerBorrower or Guarantor, as applicable. All amounts In determining whether or not the interest paid or agreed to be paid in connection with for the indebtedness evidenced by this Loan Agreement use, forbearance, or detention of sums hereunder exceeds the highest lawful rate, the Borrower and the Note which under Applicable Law would be deemed “interest” Lender shall, to the maximum extent permitted by Applicable Lawapplicable law, be amortized(a) characterize any non-principal payment as an expense, proratedfee or premium rather than as interest, allocated(b) exclude voluntary prepayments and the effects thereof, (c) amortize, prorate, allocate and spread the total amount of interest throughout the full term of this Loan Agreementsuch indebtedness so that the actual rate of interest on account of such indebtedness does not exceed the highest lawful rate, and/or (d) allocate interest between portions of such indebtedness, to the end that no such portion shall bear interest at a rate greater than that permitted by applicable law.

No Usurious Interest. Notwithstanding any provision herein or in It is the Note intention of the parties hereto to comply strictly to usury laws applicable to Administrative Agent. Interest on the contrary, Obligations is expressly limited so that in no contingency or event whatsoever, whether by acceleration of the maturity of the Term Note or otherwise, shall the rate of interest on the loan made pursuant to Section 3.03 taken, reserved, contracted for, charged or the Note exceed the maximum lawful non-usurious rate of interest, if any, which the Issuer is permitted to charge the Borrower from time to time under the laws of the State of Texas and the United States of America in effect on the Issue Date permitting the charging and collecting of the highest permissible lawful non-usurious interest rate on such loan (hereinafter referred to as “Applicable Law”), and in no event shall the aggregate of the interest on such loan and the Note, plus any other amounts paid in connection herewith which are deemed “interest” under Applicable Law in effect on the Issue Date, ever received by Administrative Agent exceed the maximum amount permissible under applicable law. If, from any circumstances whatsoever, fulfillment of any provisions of this Guaranty, the Term Note or the other Security Documents or of any other document evidencing, securing or pertaining to the indebtedness evidenced by the Term Note, at the time performance of such provision shall be due, would be usurious under applicable law, then, ipso facto, the obligation to be fulfilled shall be reduced to the limit of such validity so that the aggregate consideration which constitutes interest which could be lawfully that is contracted for, taken, reserved, charged on such loan and the Note under Applicable Lawfor, and if any amount of interest taken or received by the Issuer or assigns shall be in excess of not exceed the maximum amount of allowed by applicable law and such amount that would otherwise be excessive interest which, under Applicable Law, could lawfully have been collected on such loan and the Note, then such excess shall be deemed applied to have been the result reduction of a mathematical error by the Issuer, principal amount owing under the Trustee, and Term Note or on account of any other indebtedness of the Borrower or Guarantor to Administrative Agent, or if principal of the Term Note and shall be such other indebtedness has been paid in full, refunded promptly to the BorrowerBorrower or Guarantor, as applicable. All amounts In determining whether or not the interest paid or agreed to be paid in connection with for the indebtedness evidenced by this Loan Agreement use, forbearance, or detention of sums hereunder exceeds the highest lawful rate, the Borrower and the Note which under Applicable Law would be deemed “interest” Administrative Agent shall, to the maximum extent permitted by Applicable Lawapplicable law, be amortized(a) characterize any non-principal payment as an expense, proratedfee or premium rather than as interest, allocated(b) exclude voluntary prepayments and the effects thereof, (c) amortize, prorate, allocate and spread the total amount of interest throughout the full term of this Loan Agreementsuch indebtedness so that the actual rate of interest on account of such indebtedness does not exceed the highest lawful rate, and/or (d) allocate interest between portions of such indebtedness, to the end that no such portion shall bear interest at a rate greater than that permitted by applicable law.

No Usurious Interest. Notwithstanding any provision herein or in It is the Note intention of the parties hereto to comply strictly to usury laws applicable to Lender. Interest on the contrary, Obligations is expressly limited so that in no contingency or event whatsoever, whether by acceleration of the maturity of the Promissory Note or otherwise, shall the rate of interest on the loan made pursuant to Section 3.03 taken, reserved, contracted for, charged or the Note exceed the maximum lawful non-usurious rate of interest, if any, which the Issuer is permitted to charge the Borrower from time to time under the laws of the State of Texas and the United States of America in effect on the Issue Date permitting the charging and collecting of the highest permissible lawful non-usurious interest rate on such loan (hereinafter referred to as “Applicable Law”), and in no event shall the aggregate of the interest on such loan and the Note, plus any other amounts paid in connection herewith which are deemed “interest” under Applicable Law in effect on the Issue Date, ever received by Lender exceed the maximum amount permissible under applicable law. If, from any circumstances whatsoever, fulfillment of any provisions of this Guaranty, the Promissory Note or the other Security Documents or of any other document evidencing, securing or pertaining to the indebtedness evidenced by the Promissory Note, at the time performance of such provision shall be due, would be usurious under applicable law, then, ipso facto, the obligation to be fulfilled shall be reduced to the limit of such validity so that the aggregate consideration which constitutes interest which could be lawfully that is contracted for, taken, reserved, charged on such loan and the Note under Applicable Lawfor, and if any amount of interest taken or received by the Issuer or assigns shall be in excess of not exceed the maximum amount of allowed by applicable law and such amount that would otherwise be excessive interest which, under Applicable Law, could lawfully have been collected on such loan and the Note, then such excess shall be deemed applied to have the reduction of the principal amount owing under the Promissory Note or on account of any other indebtedness of the Borrowers or Guarantor to Lender, or if principal of the Promissory Note and such other indebtedness has been the result of a mathematical error by the Issuerpaid in full, the Trustee, and refunded to the Borrower and shall be refunded promptly to or Guarantor, as applicable. In determining whether or not the Borrower. All amounts interest paid or agreed to be paid in connection with for the indebtedness evidenced by this Loan Agreement use, forbearance, or detention of sums hereunder exceeds the highest lawful rate, the Borrower and the Note which under Applicable Law would be deemed “interest” Lender shall, to the maximum extent permitted by Applicable Lawapplicable law, be amortized(a) characterize any non-principal payment as an expense, proratedfee or premium rather than as interest, allocated(b) exclude voluntary prepayments and the effects thereof, (c) amortize, prorate, allocate and spread the total amount of interest throughout the full term of this Loan Agreementsuch indebtedness so that the actual rate of interest on account of such indebtedness does not exceed the highest lawful rate, and/or (d) allocate interest between portions of such indebtedness, to the end that no such portion shall bear interest at a rate greater than that permitted by applicable law.

No Usurious Interest. Notwithstanding any provision herein or in the Note to the contrary, in no event shall the rate of interest on the loan made pursuant to Section 3.03 or the Note exceed the maximum lawful non-non- usurious rate of interest, if any, which the Issuer is permitted to charge the Borrower from time to time under the laws of the State Commonwealth of Texas Kentucky and the United States of America in effect on the Issue Date permitting the charging and collecting of the highest permissible lawful non-usurious interest rate on such loan (hereinafter referred to as “Applicable Law”), and in no event shall the aggregate of the interest contracted for, charged, collected or received on such loan and the Noteloan, plus any other amounts paid in connection herewith which are deemed “interest” under Applicable Law in effect on the Issue Date, ever exceed the maximum amount of interest which could be lawfully charged contracted for, charged, collected or received on such loan and the Note under Applicable Law, and if any amount of interest taken contracted for, charged, collected or received by the Issuer or assigns shall be in excess of the maximum amount of interest which, under Applicable Law, could lawfully have been contracted for, charged, collected or received on such loan and the Noteloan, then such excess shall be deemed to have been the result of a mathematical error by the Issuer, the Bond Trustee, and the Borrower and shall be refunded promptly to the Borrower. All amounts paid or agreed to be paid in connection with the indebtedness evidenced by this Series 2022A Loan Agreement and the Note which under Applicable Law would be deemed “interest” shall, to the extent permitted by Applicable Law, be amortized, prorated, allocated, and spread throughout the full term of this Series 2022A Loan Agreement.