Limit on Interest. Anything herein, in the Related Documents, or in the Notes to the contrary notwithstanding, the obligations of the Borrower under this Agreement, the Related Documents, and the Note to the Lender shall be subject to the limitation that payments of interest to the Lender shall not be required to the extent that receipt of any such payment by the Lender would be contrary to provisions of law applicable to the Lender (if any) which limit the maximum rate of interest which may be charged or collected by the Lender; provided, however, that nothing herein shall be construed to limit the Lender to presently existing maximum rates of interest, if an increased interest rate is hereafter permitted by reason of applicable federal or state legislation. If by the terms of this Agreement, the Related Documents, or the Note, the Borrower is at any time required or obligated to pay interest in excess of such maximum rate, the rate of interest payable hereunder and thereunder shall be computed at such maximum rate and the portion of all prior interest payments in excess of such maximum rate shall be applied to and shall be deemed to have been payments in reduction of the principal balance of this Agreement and the Note.
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Sources: Credit Agreement (Renex Corp), Credit Agreement (Technisource Inc)
Limit on Interest. Anything herein, in the Related Documents, or in the Notes Line Note to the contrary notwithstanding, the obligations of the Borrower under this Agreement, the Related Documents, and the Line Note to the Lender shall be subject to the limitation that payments of interest to the Lender shall not be required to the extent that receipt of any such payment by the Lender would be contrary to provisions of law applicable to the Lender (if any) which limit the maximum rate of interest which may be charged or collected by the Lender; provided, however, that nothing herein shall be construed to limit the Lender to presently existing maximum rates of interest, if an increased interest rate is hereafter permitted by reason of applicable federal or state legislation. If by the terms of this Agreement, the Related Documents, Documents or the Note, Line Note the Borrower is at any time required or obligated to pay interest in excess of such maximum rate, the rate of interest payable hereunder and thereunder shall be computed at such maximum rate and the portion of all prior interest payments in excess of such maximum rate shall be applied to and shall be deemed to have been payments in reduction of the principal balance of this Agreement and the Line Note.
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