Common use of Maximum Lawful Rate of Interest Clause in Contracts

Maximum Lawful Rate of Interest. The rate of interest payable on any Loan or other amount shall in no event exceed the maximum rate permissible under Applicable Law. If the rate of interest payable on any Loan or other amount is ever reduced as a result of this Section and at any time thereafter the maximum rate permitted by Applicable Law shall exceed the rate of interest provided for in this Agreement, then the rate provided for in this Agreement shall be increased to the maximum rate provided by Applicable Law for such period as is required so that the total amount of interest received by the Lender is that which would have been received by the Lender but for the operation of the first sentence of this Section. Amended and Restated Credit Agreement

Appears in 2 contracts

Samples: Credit Agreement (Ipsco Tubulars Inc), Credit Agreement (Ipsco Tubulars Inc)

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Maximum Lawful Rate of Interest. The rate of interest payable on ------------------------------- any Loan or other amount shall in no event exceed the maximum rate permissible under Applicable Law. If the rate of interest payable on any Loan or other amount is ever reduced as a result of this Section subsection and at any time thereafter the maximum rate permitted by Applicable Law shall exceed the rate of interest provided for in this Agreement, then the rate provided for in this Agreement shall be increased to the maximum rate provided by Applicable Law for such period as is required so that the total amount of interest received by the each Lender is that which would have been received by the such Lender but for the operation of the first sentence of this Section. Amended and Restated Credit Agreementsubsection.

Appears in 2 contracts

Samples: Secured Credit Agreement (Cb Commercial Holdings Inc), Senior Secured Credit Agreement (Cb Commercial Real Estate Services Group Inc)

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