Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess interest is greater than the previously unpaid principal balance, Lender shall promptly refund such excess amount to Borrowers as of the date paid and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Credit and Security Agreement (Cold Metal Products Inc)
Maximum Charges. In no event whatsoever shall interest and other charges amounts charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that the Lender has received interest and other charges Charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by Borrowersthe Borrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers as of the date paid Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Revolving Credit, Term Loan and Security Agreement (Tristar Corp)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable permissible hereto, such excess interest amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest amount is greater than the previously unpaid principal balance, Lender shall promptly refund such excess amount to Borrowers as of the date paid Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Oil & Gas Term Loan Agreement (American Real Estate Partners L P)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Agent or any Lender has received interest and other charges hereunder in excess of the highest rate applicable permissible hereto, such excess interest amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest amount is greater than the previously unpaid principal balance, Lender Lenders shall promptly refund such excess amount to Borrowers as of the date paid Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Revolving Credit, Term Loan and Security Agreement (Delta Mills Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable permissible hereto, such excess interest amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess interest amount is greater than the previously unpaid principal balance, Lender shall promptly refund such excess amount to Borrowers as of the date paid Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (E Com Ventures Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Agent or any Lender has received interest and other charges hereunder in excess of the highest rate applicable permissible hereto, such excess interest amount shall be first applied to any unpaid principal balance owed owned by Borrowers, and if the then remaining excess interest amount is greater than the previously unpaid principal balance, Lender the Lenders shall promptly refund such excess amount to Borrowers as of the date paid and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Supplement Revolving Multicurrency Credit Agreement (Styrochem U S Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Agent or any Lender has received interest and other charges hereunder in excess of the such highest rate applicable heretorate, such excess interest shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess interest is greater than the previously unpaid principal balance, Lender the applicable recipient shall promptly refund such excess amount to Borrowers as of the date paid and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (General Datacomm Industries Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed owned by BorrowersBorrower's, and if the then remaining excess interest is greater than the previously unpaid principal balance, Lender shall promptly refund such excess amount to Borrowers as of the date paid and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (Prima Group International Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by Borrowersthe Borrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers as of the date paid Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that the Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by Borrowersthe Borrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers as of the date paid Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Agent or any Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess interest amount is greater than the previously unpaid principal balance, Lender the Lenders shall promptly refund such excess amount to Borrowers as of the date paid and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Loan and Security Agreement (Lets Talk Cellular & Wireless Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers as of the date paid and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers as of the date paid Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (Advanced Lighting Technologies Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Agent or any Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, Lender Lenders shall promptly refund such excess amount to Borrowers as of the date paid Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (Allstate Financial Corp /Va/)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Agent or any Lender has received interest and other charges hereunder in excess of the highest rate applicable permissible hereto, such excess interest amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest amount is greater than the previously unpaid principal balance, Lender the Lenders shall promptly refund such excess amount to Borrowers as of the date paid Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (Candies Inc)
Maximum Charges. In no event whatsoever shall interest and --------------- other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that any Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, such Lender shall promptly refund such excess amount to Borrowers as of the date paid Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Revolving Credit, Factoring and Security Agreement (Tarrant Apparel Group)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable permissible hereto, such excess interest amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest amount is greater than the previously unpaid principal balance, Lender shall promptly refund such excess amount to Borrowers as of the date paid Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Revolving Credit and Security Agreement (Meridian Sports Inc)
Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that the Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by Borrowersthe Borrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers as of the date paid Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.
Appears in 1 contract
Sources: Subordinated Credit Agreement (Town Sports International Inc)