Maximum Lawful Rate of Interest. The rate of interest payable under this Note shall in no event exceed the maximum rate permissible under Applicable Law. If the rate of interest payable on this Note is ever reduced as a result of this SECTION 8 and at any time thereafter the maximum rate permitted under Applicable Law exceeds the rate of interest provided for in this Note, then the rate provided for in this Note shall be increased to the maximum rate provided for under Applicable Law for such period as is required so that the total amount of interest received by the Holder is that which would have been received by the Holder but for the operation of the first sentence of this SECTION 8.
Appears in 5 contracts
Sources: Intercreditor Agreement (Levine Leichtman Capital Partners Ii Lp), Subordination Agreement (Levine Leichtman Capital Partners Ii Lp), Intercreditor Agreement (Levine Leichtman Capital Partners Ii Lp)
Maximum Lawful Rate of Interest. The rate of interest payable under this Note shall in no event exceed the maximum rate permissible under Applicable Law. If the rate of interest payable on this Note is ever reduced as a result of this SECTION 8 Section 9 and at any time thereafter the maximum rate permitted under Applicable Law exceeds the rate of interest provided for in this Note, then the rate provided for in this Note shall be increased to the maximum rate provided for under Applicable Law for such period as is required so that the total amount of interest received by the Holder is that which would have been received by the Holder but for the operation of the first sentence of this SECTION 8Section 9.
Appears in 4 contracts
Sources: Intercreditor and Subordination Agreement (Overhill Farms Inc), Intercreditor and Subordination Agreement (Overhill Farms Inc), Intercreditor and Subordination Agreement (Levine Leichtman Capital Partners Ii Lp)
Maximum Lawful Rate of Interest. The rate of interest payable under this Note shall in no event exceed the maximum rate permissible under Applicable Lawapplicable law. If the rate of interest payable on this Note is ever reduced as a result of this SECTION 8 Section 9 and at any time thereafter the maximum rate permitted under Applicable Law applicable law exceeds the rate of interest provided for in this Note, then the rate provided for in this Note shall be increased to the maximum rate provided for under Applicable Law applicable law for such period as is required so that the total amount of interest received by the Holder is that which would have been received by the Holder but for the operation of the first sentence of this SECTION 8Section 9.
Appears in 2 contracts
Sources: Securities Purchase Agreement (General Finance CORP), Senior Subordinated Note (Levine Leichtman Capital Partners Ii Lp)
Maximum Lawful Rate of Interest. The rate of interest payable under on this Note shall in no event exceed the maximum rate permissible under Applicable Law. If the rate of interest payable on this Note or other amount is ever reduced as a result of this SECTION 8 Section 2.5 and at any time thereafter the maximum rate permitted under by Applicable Law exceeds shall exceed the rate of interest provided for in this Note, then the rate provided for in this Note shall be increased up to the maximum rate provided for under by Applicable Law for such period as is required so that the total amount of interest received by the Holder during such period is that which would have been received by the Holder but for the operation of the first sentence of this SECTION 8Section 2.5.
Appears in 2 contracts
Sources: Secured Note Purchase Agreement (Velocom Inc), Secured Note Purchase Agreement (Velocom Inc)