Excess Interest. Under no circumstances will the rate of interest chargeable be in excess of the maximum amount permitted by law. If excess interest is charged and paid in error, then the excess amount will be promptly refunded.
Appears in 10 contracts
Sources: Credit Agreement (Cherokee International Corp), Credit Agreement (Cherokee International Corp), Credit Agreement (Cherokee International Finance Inc)
Excess Interest. Under no circumstances will the rate of interest chargeable be in excess of the maximum amount permitted by law. If any such excess interest is charged and paid in error, then the excess amount will be promptly refunded.
Appears in 4 contracts
Sources: Credit Agreement (Ct Communications Inc /Nc), Credit Agreement (D&e Communications Inc), Credit Agreement (D&e Communications Inc)
Excess Interest. Under no circumstances will the rate of interest chargeable be in excess of the maximum amount permitted by law. If excess interest is charged and paid in error, then the excess amount will be promptly refundedrefunded or applied to repayment or prepayment of principal; provided, that to the extent all or any portion of such excess amount is applied to repayment or prepayment of principal, interest on the amount so prepaid will not be required to be paid at such time.
Appears in 3 contracts
Sources: Subordinated Note Purchase Agreement (HCSB Financial Corp), Subordinated Note and Securities Purchase Agreement (Security Bank Corp), Subordinated Note Purchase Agreement (CommunitySouth Financial CORP)
Excess Interest. Under no circumstances will the rate of interest chargeable in respect of any Obligations be in excess of the maximum amount permitted by law. If any excess interest is charged and paid in error, then the excess amount will be promptly refundedrefunded to Borrower.
Appears in 2 contracts
Sources: Credit Agreement (O2wireless Solutions Inc), Credit Agreement (O2wireless Solutions Inc)
Excess Interest. Under no circumstances will the rate of --------------- interest chargeable be in excess of the maximum amount permitted by law. If any such excess interest is charged and paid in error, then the excess amount will be promptly refunded.
Appears in 2 contracts
Sources: Credit Agreement (Us Unwired Inc), Credit Agreement (Unwired Telecom Corp)
Excess Interest. Under no circumstances will the rate of interest --------------- chargeable be in excess of the maximum amount permitted by law. If any such excess interest is charged and paid in error, then the excess amount will be promptly refunded.
Appears in 1 contract
Excess Interest. Under no circumstances will the rate of interest chargeable be in excess of the maximum amount permitted by law. If excess interest is charged and paid in error, then the excess amount will be promptly refundedrefunded or applied to repayment or prepayment of principal; provided, however, that to the extent all or any portion of such excess amount is applied to repayment or prepayment of principal, interest on the amount so prepaid will not be required to be paid at such time.
Appears in 1 contract
Sources: Subordinated Note and Warrant Purchase Agreement (First Community Corp /Sc/)
Excess Interest. Under no circumstances will the rate of interest --------------- chargeable be in excess of the maximum amount permitted by law. If excess interest is charged and paid in error, then the excess amount will be promptly refunded.
Appears in 1 contract
Sources: Credit Agreement (MCG Capital Corp)
Excess Interest. Under no circumstances will --------------- the rate of interest chargeable be in excess of the maximum amount permitted by law. If excess interest is charged and paid in errorpaid, then the excess amount will be promptly refunded.
Appears in 1 contract
Excess Interest. Under no circumstances will the rate of --------------- interest chargeable be in excess of the maximum amount permitted by law. If excess interest is charged and paid in error, then the excess amount will be promptly refunded.
Appears in 1 contract
Excess Interest. Under no circumstances will the rate of interest chargeable be in excess of the maximum amount permitted by law. If excess interest is charged and paid in error, then the excess amount will be promptly refundedrefunded or applied to repayment or prepayment of principal in the manner set forth in subsection 1.5(C).
Appears in 1 contract
Excess Interest. Under no circumstances will the rate of interest chargeable be in excess of the maximum amount permitted by law. If excess interest is charged and paid in error, then the excess amount will be promptly credited or refunded.
Appears in 1 contract
Sources: Loan Agreement (Amrep Corp)