Common use of Lawful Rate of Interest Clause in Contracts

Lawful Rate of Interest. In no event whatsoever shall the amount or rate of Interest paid or agreed to be paid to Lender pursuant to this Note exceed the highest lawful rate of interest permissible under applicable law. If, from any circumstances whatsoever, fulfillment of any provision of this Note shall involve exceeding the lawful rate of interest which a court of competent jurisdiction may deem applicable hereto, then ipso facto, the obligation to be fulfilled shall be reduced to the highest lawful rate of interest permissible under such law and if, for any reason whatsoever, Lender shall receive, as Interest, an amount which would be deemed unlawful under such applicable law, such Interest shall be applied to the Principal (whether or not due and payable), and not to the payment of Interest, or refunded to Borrower, if the Principal has been paid in fall.

Lawful Rate of Interest. In no event whatsoever shall the amount or rate of Interest (including Interest at the Alternate Rate) paid or agreed to be paid to Lender pursuant to this Note the Loan Documents exceed the highest lawful rate of interest permissible under applicable law. If, from any circumstances whatsoever, fulfillment of any provision of this Note the Loan Documents shall involve exceeding the lawful rate of interest which a court of competent jurisdiction Jurisdiction may deem applicable hereto, then ipso facto, the obligation to be fulfilled shall be reduced to the highest lawful rate of interest permissible under such law and if, for any reason whatsoever, Lender shall receive, as InterestInterest (including Interest at the Alternate Rate), an amount which would be deemed unlawful under such applicable law, . such Interest shall be applied to the Principal (whether or not due and payable), and not to the payment of Interest, or refunded to Borrower, if the Principal has been paid in fallfull.