Common use of Maximum Rate of Interest Clause in Contracts

Maximum Rate of Interest. Nothing herein contained, nor in any Loan Document or transaction related thereto, shall be construed or so operate as to require Mortgagor or any person liable for the payment of the Obligations made pursuant to the Credit Agreement, to pay interest in an amount or at a rate greater than the maximum allowed by law. Should any interest or other charges in the nature of the interest paid by Mortgagor or any parties liable for the payment of the Obligations made pursuant to the Credit Agreement result in the computation or earning of interest in excess of the maximum rate of interest allowed by applicable law, then any and all such excess shall be and the same is hereby waived by the holder hereof, and all such excess shall be automatically credited against and in reduction of the principal balance, and any portion of said excess which exceeds the principal balance shall be paid by the holder hereof to Mortgagor or any parties liable for the payment of the Obligations made pursuant to the said Credit Agreement, it being the intent of the parties hereto that under no circumstances shall Mortgagor or any parties liable for the payment of the Obligations hereunder be required to pay interest in excess of the maximum rate allowed by law.

Maximum Rate of Interest. Nothing herein contained, nor in any Loan Document or transaction related thereto, shall be construed or so operate as to require Mortgagor Grantor or any person liable for the payment of the Obligations made pursuant to the Credit Agreement, to pay interest in an amount or at a rate greater than the maximum allowed by law. Should any interest or other charges in the nature of the interest paid by Mortgagor Grantor or any parties liable for the payment of the Obligations made pursuant to the Credit Agreement result in the computation or earning of interest in excess of the maximum rate of interest allowed by applicable law, then any and all such excess shall be and the same is hereby waived by the holder hereof, and all such excess shall be automatically credited against and in reduction of the principal balance, and any portion of said excess which exceeds the principal balance shall be paid by the holder hereof to Mortgagor Grantor or any parties liable for the payment of the Obligations made pursuant to the said Credit Agreement, it being the intent of the parties hereto that under no circumstances shall Mortgagor Grantor or any parties liable for the payment of the Obligations hereunder be required to pay interest in excess of the maximum rate allowed by law.

Maximum Rate of Interest. Nothing herein contained, nor in any Loan Transaction Document or transaction related thereto, shall be construed or so operate as to require Mortgagor or any person liable for the payment of the Obligations made pursuant to the Credit Purchase Agreement, to pay interest in an amount or at a rate greater than the maximum allowed by law. Should any interest or other charges in the nature of the interest paid by Mortgagor or any parties liable for the payment of the Obligations made pursuant to the Credit Purchase Agreement or any other Transaction Document result in the computation or earning of interest in excess of the maximum rate of interest allowed by applicable law, then any and all such excess shall be and the same is hereby waived by the holder hereof, and all such excess shall be automatically credited against and in reduction of the principal balance, and any portion of said excess which exceeds the principal balance shall be paid by the holder hereof to Mortgagor or any parties liable for the payment of the Obligations made pursuant to the said Credit AgreementPurchase Agreement or any other Transaction Document, it being the intent of the parties hereto that under no circumstances shall Mortgagor or any parties liable for the payment of the Obligations hereunder be required to pay interest in excess of the maximum rate allowed by law.

Maximum Rate of Interest. Nothing herein contained, nor in any Loan Document or transaction related thereto, shall be construed or so operate as to require Mortgagor or any person liable for the payment of the Obligations made pursuant to the Amended and Restated Credit Agreement, to pay interest in an amount or at a rate greater than the maximum allowed by law. Should any interest or other charges in the nature of the interest paid by Mortgagor or any parties liable for the payment of the Obligations made pursuant to the Amended and Restated Credit Agreement result in the computation or earning of interest in excess of the maximum rate of interest allowed by applicable law, then any and all such excess shall be and the same is hereby waived by the holder hereof, and all such excess shall be automatically credited against and in reduction of the principal balancebalance (without any prepayment penalty or charge), and any portion of said excess which exceeds the principal balance shall be paid by the holder hereof to Mortgagor or any parties liable for the payment of the Obligations made pursuant to the said Amended and Restated Credit Agreement, it being the intent of the parties hereto that under no circumstances shall Mortgagor or any parties liable for the payment of the Obligations hereunder be required to pay interest in excess of the maximum rate allowed by law.

Maximum Rate of Interest. Nothing herein contained, nor in the Notes, in the Credit Agreement or in any Loan Document instrument or transaction related thereto, shall be construed or so operate as to require Borrowers, Mortgagor or any person liable for the payment of the Obligations made pursuant to the Credit AgreementLoans, to pay interest in an amount or at a rate greater than the maximum allowed by law. Should any interest or other charges in the nature of the interest paid by Borrowers, Mortgagor or any parties liable for the payment of the Obligations made pursuant to the Credit Agreement Loans result in the computation or earning of interest in excess of the maximum rate of interest allowed by applicable law, then any and all such excess shall be and the same is hereby waived by the holder hereofLenders, and all such excess shall be automatically ratably credited against and in reduction of the principal balance, and any portion of said excess which exceeds the principal balance shall be paid by the holder hereof Lenders to Borrowers, Mortgagor or any parties liable for the payment of the Obligations made pursuant to Loans, as the said Credit Agreementcase may be, it being the intent of the parties hereto that under no circumstances shall Borrowers, Mortgagor or any parties liable for the payment of the Obligations hereunder Indebtedness and the Loans be required to pay interest in excess of the maximum rate allowed by law.

Maximum Rate of Interest. Nothing herein contained, contained nor in the Note secured hereby or any Loan Document instrument or transaction related thereto, shall be construed or so operate as to the require Mortgagor the Mortgagor, Maker, or any person liable for the payment of the Obligations loan made pursuant to the Credit Agreementsaid Note, to pay interest in an amount or at a rate greater than the maximum allowed by law. Should any interest or other charges in the nature of the interest paid by Mortgagor the Mortgagor, Maker or any parties liable for the payment of the Obligations made pursuant to the Credit Agreement result in the computation or earning loan of interest in excess of the maximum rate of interest allowed by applicable law, then any and all such excess shall be and the same is hereby waived by the holder hereof, and all such excess shall be automatically credited against and in reduction of the principal balance, and any portion of said excess which exceeds the principal principal, balance shall be paid by the holder hereof to Mortgagor the Mortgagor, Maker or any parties liable for the payment of the Obligations loan made pursuant to the said Credit AgreementNote, it being the intent of the parties hereto that under no circumstances shall Mortgagor the Mortgagor, Maker or any parties liable for the payment of the Obligations hereunder loan hereunder, be required to pay interest in excess of the maximum rate allowed by law.

Maximum Rate of Interest. Nothing herein contained, nor in the Mortgage Note or Loan Agreement secured hereby, nor in or any Loan Document instrument or transaction related thereto, shall be construed or so operate as to require Mortgagor the Mortgagor, maker, or any person liable for the payment of the Obligations made pursuant to the Credit AgreementMortgage Note, to pay interest in an amount or at a rate greater than the maximum allowed by law. Should any interest or other charges in the nature of the interest paid by Mortgagor the Mortgagor, or any parties liable for the payment of the Obligations made pursuant to the Credit Agreement Mortgage Note, result in the computation or earning of interest in excess of the maximum rate of interest allowed by the applicable law, then any and all such excess shall be and the same is hereby waived by the holder hereofthereof, and all such excess shall be automatically credited against and in reduction of the principal balance, and any portion of said excess which exceeds the principal balance shall be paid by the holder hereof to Mortgagor the Mortgagor, maker or any parties liable for the payment of the Obligations made pursuant to the said Credit AgreementMortgage Note, it being the intent of the parties hereto that under no circumstances shall Mortgagor the Mortgagor, or any parties liable for the payment of the Obligations hereunder Mortgage Note, be required to pay interest in excess of the maximum rate allowed by law.