Limit on Interest. Anything herein or in the Note to the contrary notwithstanding, the obligations of Borrower under this Agreement and the Note to Lender shall be subject to the limitation that payments of interest to Lender shall not be required to the extent that receipt of any such payment by Lender would be contrary to provisions of law applicable to Lender (if any) which limit the maximum rate of interest which may be charged or collected by Lender; provided however, that nothing herein shall be construed to limit Lender to presently existing maximum rates of interest, if any increased interest rate is hereafter permitted by reason of applicable federal or state legislation.
Appears in 2 contracts
Sources: Credit Agreement (American Leisure Holdings, Inc.), Credit Agreement (American Leisure Holdings, Inc.)