Common use of Limit on Interest Clause in Contracts

Limit on Interest. All agreements between or among the Borrowers, or any of them, the Administrative Agent and any Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of the Indebtedness of the Borrowers, or any of them, to the Lenders hereunder or otherwise, shall the amount paid or agreed or deemed to be paid for the use or forbearance of the Indebtedness evidenced hereby or incurred pursuant hereto, whether in the form of interest, fees or other payment of cash or property (any such amount being referred to collectively in this Section 2.17 as “Interest”) exceed the maximum permissible amount which such Lender is permitted to receive under Applicable Law. If, from any circumstances whatsoever, fulfillment of any provision hereof or of the Fee Letter, at the time performance of such provision shall be due, shall involve transcending the limit of validity prescribed by Applicable Usury Law, then, ipso facto, the obligation to be fulfilled shall be reduced to the limit of such validity, and if, from any circumstances, any Lender should ever receive as Interest an amount which would exceed such