Common use of Limitation of Interest Clause in Contracts

Limitation of Interest. It is the intent of Grantor, Trustee and Mortgagee in the execution of this Mortgage and all other Fundamental Documents to contract in strict compliance with the usury laws governing the Secured Indebtedness evidenced by the Credit Agreement and the other Fundamental Documents. In furtherance thereof, Grantor, Trustee and Mortgagee stipulate and agree that none of the terms and provisions contained in the Fundamental Documents shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws governing the Loan evidenced by the Credit Agreement and the other Fundamental Documents. Grantor or any Guarantor, endorser or other party now or hereafter becoming liable for the payment of the Secured Indebtedness shall never be required to pay interest on the Secured Indebtedness at a rate in excess of the maximum interest that may be lawfully charged under the laws governing the Loans evidenced by the Credit Agreement and the other Fundamental Documents, and the provisions of this Section shall control over all other provisions of the Credit Agreement and the other Fundamental Documents and any other instrument executed in connection herewith which may be in apparent conflict herewith. In the event any holder of the Secured Indebtedness shall collect monies that are deemed to constitute interest and that would otherwise increase the effective interest rate on the Secured Indebtedness to a rate in excess of that permitted to be charged by the laws governing the Loan evidenced by the Credit Agreement and the other Fundamental Documents, all such sums deemed to constitute interest in excess of the legal rate shall be applied to the unpaid principal balance of the Secured Indebtedness and, if in excess of such balance, shall be immediately returned to Grantor upon such determination.

Limitation of Interest. It is the intent of Grantor, Trustee Mortgagor and Mortgagee in the execution of this Mortgage and the Note and all other Fundamental Documents instruments securing the Note to contract in strict compliance with the usury laws of the Commonwealth of Pennsylvania governing the Secured Indebtedness loan evidenced by the Credit Agreement and the other Fundamental DocumentsNote. In furtherance thereof, Grantor, Trustee Mortgagee and Mortgagee Mortgagor stipulate and agree that none of the terms and provisions contained in the Fundamental Loan Documents shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws of the Commonwealth of Pennsylvania governing the Loan loan evidenced by the Credit Agreement and the other Fundamental DocumentsNote. Grantor Mortgagor or any Guarantorguarantor, endorser or other party now or hereafter becoming liable for the payment of the Secured Indebtedness Note shall never be liable for unearned interest on the Note and shall never be required to pay interest on the Secured Indebtedness Note at a rate in excess of the maximum interest that may be lawfully charged under the laws governing of the Loans evidenced by the Credit Agreement and the other Fundamental Documents, Commonwealth of Pennsylvania and the provisions of this Section shall control over all other provisions of the Credit Agreement and the other Fundamental Documents Note and any other instrument executed in connection herewith which may be in apparent conflict herewith. In the event it is determined that any holder of the Secured Indebtedness shall collect Note has collected monies that which are deemed to constitute interest and that would otherwise are deemed to increase the effective interest rate on the Secured Indebtedness Note to a rate in excess of that permitted to be charged by the laws governing of the Loan evidenced by the Credit Agreement and the other Fundamental DocumentsCommonwealth of Pennsylvania, all such sums deemed to constitute interest in excess of the such legal rate shall be applied refunded to the unpaid principal balance Mortgagor immediately after such determination. Such refund may be made by application of the Secured Indebtedness andamount involved against the sums due under the Note, if in excess of but such balance, crediting shall be immediately returned to Grantor upon such determinationnot cure or waive any default by Mortgagor remaining uncorrected.

Limitation of Interest. It is the intent of Grantor, Trustee the Grantor and Mortgagee the Beneficiary in the execution of this Mortgage Deed of Trust and the Note and all other Fundamental Documents instruments securing the Note to contract in strict compliance compilance with the usury laws of the State of North Carolina governing the Secured Indebtedness loan evidenced by the Credit Agreement and the other Fundamental DocumentsNote. In furtherance thereof, Grantor, Trustee the Beneficiary and Mortgagee the Grantor stipulate and agree that none of the terms and provisions contained in the Fundamental Documents Loan Instruments shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws of the State of North Carolina governing the Loan loan evidenced by the Credit Agreement and the other Fundamental DocumentsNote. The Grantor or any Guarantorguarantor, endorser or other party now or hereafter becoming liable for the payment of the Secured Indebtedness Note, if any, shall never be liable for unearned interest on the Note and shall never be required to pay interest on the Secured Indebtedness Note at a rate in excess of the maximum interest that may be lawfully charged under the laws governing of the Loans evidenced by the Credit Agreement and the other Fundamental Documents, and the State of North Carolina. The provisions of this the Section shall control over all other provisions of the Credit Agreement and the other Fundamental Documents Note and any other instrument executed in connection herewith which may be in apparent conflict herewith. In the event any holder of the Secured Indebtedness Note shall collect monies that which are deemed to constitute interest and that which would otherwise increase the effective interest rate on the Secured Indebtedness Note to a rate in excess of that permitted to be charged by the laws governing of the Loan evidenced by the Credit Agreement and the other Fundamental DocumentsState of North Carolina, all such sums deemed to constitute interest in excess of the legal maximum permissible rate shall be applied forthwith to the unpaid reduction of the principal balance of the Secured Indebtedness and, if in excess of such balance, shall be immediately returned to Grantor upon such determinationNote.

Limitation of Interest. It is the intent of Grantor, Trustee Mortgagor and Mortgagee in the execution of this Mortgage and all other Fundamental ▇▇▇▇▇ ▇▇▇n Documents to contract in strict compliance with the usury laws governing the Secured Indebtedness evidenced by the Credit Agreement and the other Fundamental Loan Documents. In furtherance thereof, Grantor, Trustee Mortgagor and Mortgagee stipulate and agree that none of the terms and provisions ▇▇▇ ▇▇▇▇isions contained in the Fundamental Loan Documents shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws governing the Loan evidenced by Documents evidencing the Credit Agreement and the other Fundamental DocumentsSecured Indebtedness. Grantor Mortgagor or any Guarantorguarantor, endorser or other party now or hereafter becoming liable for the payment of the Secured Indebtedness shall never be required to pay interest on the Secured Indebtedness at a rate in excess of the maximum interest that may be lawfully charged under the laws governing the Loans evidenced by Loan Documents evidencing the Credit Agreement and the other Fundamental DocumentsSecured Indebtedness, and the provisions of this Section shall control over all other provisions of the Credit Agreement Agreement, the Note Agreement, the Notes, the A-Advanced Guaranty and the other Fundamental Loan Documents and any other instrument executed in connection herewith which may be in apparent conflict herewith. In the event the Collateral Agent, any Lender, or any other holder of the Secured Indebtedness shall collect monies that are deemed to constitute interest and that would otherwise increase the effective interest rate on the Secured Indebtedness to a rate in excess of that permitted to be charged by the laws governing the Loan evidenced by the Credit Agreement and the other Fundamental Documentsusury laws, all such sums deemed to constitute interest in excess of the legal rate shall be applied to in accordance with the unpaid principal balance provisions of the Secured Indebtedness and, if in excess of such balance, shall be immediately returned to Grantor upon such determinationCredit Agreement.

Limitation of Interest. It is the intent of Grantor, Trustee ▇▇▇▇▇▇▇ and Mortgagee Beneficiary in the execution of this Mortgage Deed of Trust, the Guarantied Obligations and all other Fundamental Documents to contract Transaction Agreements in strict compliance with the usury laws of the State of Washington governing the Secured Indebtedness evidenced by the Credit Agreement Guaranty and the other Fundamental DocumentsGuarantied Obligations. In furtherance thereof, Grantor, Trustee Beneficiary and Mortgagee Grantor stipulate and agree that none of the terms and provisions contained in the Fundamental Documents Transaction Agreements shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws of the State of Washington governing the Loan evidenced by the Credit Agreement Guaranty and the other Fundamental DocumentsGuarantied Obligations. Grantor or any Guarantorguarantor, endorser or other party now or hereafter becoming liable for the payment of the Secured Indebtedness Guarantied Obligations shall never be liable for unearned interest on the Guarantied Obligations and shall never be required to pay interest on the Secured Indebtedness Guarantied Obligations at a rate in excess of the maximum interest that may be lawfully charged under the laws governing of the Loans evidenced by the Credit Agreement and the other Fundamental Documents, State of Washington and the provisions of this Section section shall control over all other provisions of the Credit Agreement and the other Fundamental Documents Guarantied Obligations and any other instrument executed in connection herewith which may be in apparent conflict herewith. In If a court of competent jurisdiction shall make a final determination that the event performance of any holder provision of the Secured Indebtedness Guarantied Obligations shall collect monies that are deemed to constitute interest and that would otherwise increase the effective interest rate on the Secured Indebtedness to result in a rate in excess payment of that permitted to be charged by the laws governing the Loan evidenced by the Credit Agreement and the other Fundamental Documentsan amount for such use, all such sums deemed to constitute interest in excess of the legal rate shall be applied to the unpaid principal balance of the Secured Indebtedness and, if forbearance or detention in excess of such balancerate, then (i) such provision shall be immediately returned deemed to Grantor upon be appropriately modified to the extent necessary to reduce such determinationamount to an amount not in excess of such rate; and (ii) any such excess amounts theretofore received by the holder of the Guarantied Obligations shall be deemed to have been applied in like amount to principal on the Guarantied Obligations, and all necessary reallocations of subsequent payments with respect to such Guarantied Obligations shall be made and appropriately annotated on such Guarantied Obligations.

Limitation of Interest. It is the intent of Grantor, Trustee Grantor and Mortgagee ---------------------- Beneficiary in the execution of this Mortgage Deed of Trust and all other Fundamental Documents to contract in strict compliance with the usury laws governing the Secured Indebtedness evidenced by the Credit Agreement and the other Fundamental Documents. In furtherance thereof, Grantor, Trustee Grantor and Mortgagee Beneficiary stipulate and agree that none of the terms and provisions contained in the Fundamental Documents shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws governing the Loan Loans evidenced by the Credit Agreement and the other Fundamental Documents. Grantor or any Guarantor, endorser or other party now or hereafter becoming liable for the payment of the Secured Indebtedness shall never be required to pay interest on the Secured Indebtedness at a rate in excess of the maximum interest that may be lawfully charged under the laws governing the Loans evidenced by the Credit Agreement and the other Fundamental Documents, and the provisions of this Section shall control over all other provisions of the Credit Agreement and the other Fundamental Documents and any other instrument executed in connection herewith which may be b e in apparent conflict herewith. In the event any holder of the Secured Indebtedness shall collect monies that are deemed to constitute interest and that would otherwise increase the effective interest rate on the Secured Indebtedness to a rate in excess of that permitted to be charged by the laws governing the Loan evidenced by the Credit Agreement and the other Fundamental Documents, all such sums deemed to constitute interest in excess of the legal rate shall be applied to the unpaid principal balance of the Secured Indebtedness and, if in excess of such balance, shall be immediately returned to Grantor upon such determination.

Limitation of Interest. It is the intent of Grantor, Trustee Mortgagor and Mortgagee in the execution of this Mortgage and all other Fundamental Loan Documents to contract in strict compliance with the usury laws governing the Secured Indebtedness evidenced by the Credit Agreement and the other Fundamental Loan Documents. In furtherance thereof, Grantor, Trustee Mortgagor and Mortgagee stipulate and agree that none of the terms and provisions contained in the Fundamental Loan Documents shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws governing the Loan evidenced by Documents evidencing the Credit Agreement and the other Fundamental DocumentsSecured Indebtedness. Grantor Mortgagor or any Guarantorguarantor, endorser or other party now or hereafter becoming liable for the payment of the Secured Indebtedness shall never be required to pay interest on the Secured Indebtedness at a rate in excess of the maximum interest that may be lawfully charged under the laws governing the Loans evidenced by Loan Documents evidencing the Credit Agreement and the other Fundamental DocumentsSecured Indebtedness, and the provisions of this Section shall control over all other provisions of the Credit Agreement Agreement, the Note Agreement, the Notes, the A-Advanced Guaranty and the other Fundamental Loan Documents and any other instrument executed in connection herewith which may be in apparent conflict herewith. In the event the Collateral Agent, any Lender, or any other holder of the Secured Indebtedness shall collect monies that are deemed to constitute interest and that would otherwise increase the effective interest rate on the Secured Indebtedness to a rate in excess of that permitted to be charged by the laws governing the Loan evidenced by the Credit Agreement and the other Fundamental Documentsusury laws, all such sums deemed to constitute interest in excess of the legal rate shall be applied to in accordance with the unpaid principal balance provisions of the Secured Indebtedness and, if in excess of such balance, shall be immediately returned to Grantor upon such determinationCredit Agreement.