Common use of Maximum Interest Rate Clause in Contracts

Maximum Interest Rate. Regardless of any provision of any Loan Document, neither the Agent nor any Revolving Credit Lender shall be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Law. Any payment which is made which, if treated as interest on a Liability would result in such interest's exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 7 contracts

Samples: Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Drugmax Inc), Loan and Security Agreement (Gander Mountain Co)

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Maximum Interest Rate. Regardless of any provision of any Loan Document, neither the any Agent nor any Revolving Credit Lender shall be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Law. Any payment which is made which, if treated as interest on a Liability would result in such interest's exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 4 contracts

Samples: Security Agreement (Homebase Inc), Loan and Security Agreement (Designs Inc), Loan and Security Agreement (Gymboree Corp)

Maximum Interest Rate. Regardless of any provision of any Loan Document, neither the Agent nor any Revolving Credit Lender and Lenders shall not be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Lawapplicable law. Any payment which is made which, if treated as interest on a Liability would result in such interest's ’s exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 4 contracts

Samples: Loan and Security Agreement (RoomStore, Inc.), Loan and Security Agreement (Mothers Work Inc), Loan and Security Agreement (RoomStore, Inc.)

Maximum Interest Rate. Regardless of any provision of any Loan Document, neither the any Agent nor any Revolving Credit Lender shall be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Law. Any payment which is made which, if treated as interest on a Liability would result in such interest's ’s exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 4 contracts

Samples: Loan and Security Agreement (Casual Male Retail Group Inc), Loan and Security Agreement (Casual Male Retail Group Inc), Loan and Security Agreement (Casual Male Retail Group Inc)

Maximum Interest Rate. Regardless of any provision of any Loan Document, neither the any Agent nor any Revolving Credit Lender shall be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Law. Any payment which is made which, if treated as interest on a Liability would result in such interest's exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 3 contracts

Samples: Loan Agreement (Natural Wonders Inc), Loan and Security Agreement (DSW Inc.), Value City Department Stores Inc /Oh

Maximum Interest Rate. Regardless of any provision of any Loan Document, neither the Agent Agents nor any Revolving Credit Lender shall be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Lawapplicable law. Any payment which is made which, if treated as interest on a Liability would result in such interest's exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 3 contracts

Samples: Loan and Security Agreement (Restoration Hardware Inc), Loan and Security Agreement (Mazel Stores Inc), Loan and Security Agreement (Mazel Stores Inc)

Maximum Interest Rate. Regardless of any provision of any Loan Document, neither the Agent nor any Revolving Credit Lender shall be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Law. Any payment which is made which, if treated as interest on a Liability would result in such interest's ’s exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 3 contracts

Samples: Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co)

Maximum Interest Rate. Regardless of any provision of any Loan Document, neither the any Agent nor any Revolving Credit Lender shall be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Law. Any payment which is made which, if treated as interest on a Liability would result in such interest's ’s exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 2 contracts

Samples: Revolving Credit Note (Casual Male Retail Group Inc), Revolving Credit Note (Casual Male Retail Group Inc)

Maximum Interest Rate. Regardless of any provision of any Loan Document, neither the Administrative Agent nor any Revolving Credit Lender shall be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Law. Any payment which is made which, if treated as interest on a Liability would result in such interest's exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 2 contracts

Samples: Officemax Inc /Oh/, Claires Stores Inc

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Maximum Interest Rate. Regardless of any provision of any Loan Document, neither the Agent nor any Revolving Credit Lender shall be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Law. Any payment which is made which, if treated as interest on a Liability Liability, would result in such interest's exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 2 contracts

Samples: Loan and Security Agreement (Jacobson Stores Inc), Loan and Security Agreement (Jacobson Stores Inc)

Maximum Interest Rate. Regardless of any provision of any Loan Document, neither the any Agent nor any Revolving Credit Lender shall be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Law. Any payment which is made which, if treated as interest on a 131 Liability would result in such interest's exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 2 contracts

Samples: Loan and Security Agreement (DSW Inc.), Loan and Security Agreement (DSW Inc.)

Maximum Interest Rate. (a) Regardless of any provision of any Loan Document, neither none of the Agent nor or any Revolving Credit Lender shall be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Lawapplicable law. Any payment which is made which, if treated as interest on a Liability would result in such interest's exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 1 contract

Samples: Loan and Security Agreement (Sunglass Hut International Inc)

Maximum Interest Rate. Regardless of any provision of any Loan Document, neither the Term Agent nor any Revolving Credit Lender and Term Lenders shall not be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Lawapplicable law. Any payment which is made which, if treated as interest on a Liability would result in such interest's ’s exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 1 contract

Samples: Term Loan and Security Agreement (Mothers Work Inc)

Maximum Interest Rate. Regardless of any provision of any Loan Document, neither the Agent nor any Revolving Credit Lender shall be entitled to contract for, charge, receive, collect, or apply as interest on any Liability, any amount in excess of the maximum rate imposed by Applicable Law. Any payment which is made which, if treated as interest on a Liability would result in such 125 interest's exceeding such maximum rate shall be held, to the extent of such excess, as additional collateral for the Liabilities as if such excess were "Collateral."

Appears in 1 contract

Samples: Loan and Security Agreement (Odd Job Stores Inc)

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