Maximum Interest Rate. In no event shall any interest rate provided for hereunder exceed the maximum rate permissible for corporate borrowers under applicable law for loans of the type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent such limitation, would have exceeded the Maximum Rate, then the interest rate for that month shall be the Maximum Rate, and, if in future months, that interest rate would otherwise be less than the Maximum Rate, then that interest rate shall remain at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited in prior months by the Maximum Rate. In the event that, upon Payment in Full of the Obligations under this Agreement, the total amount of interest paid or accrued under the terms of this Agreement is less than the total amount of interest which would, but for this [Section 2.7], have been paid or accrued if the interest rates otherwise set forth in this Agreement had at all times been in effect, then Borrowers shall, to the extent permitted by applicable law, pay Agent, for the account of Lenders, an amount equal to the difference between # the lesser of # the amount of interest which would have been charged if the Maximum Rate had, at all times, been in effect or # the amount of interest which would have accrued had the interest rates otherwise set forth in this Agreement, at all times, been in effect and # the amount of interest actually paid or accrued under this Agreement. In the event that a court determines that Agent and/or any Lender has received interest and other charges hereunder in excess of the Maximum Rate, such excess shall be deemed received on account of, and shall automatically be applied to reduce, the Obligations other than interest, in the inverse order of maturity, and if there are no Obligations outstanding, the Agent and/or such Lender shall refund to Borrowers such excess.
Maximum Interest Rate. In no contingency or event whatsoever shall anythe aggregate of all amounts deemed interest rate provided for hereunder exceed the maximum rate permissible for corporate borrowers under applicable law for loans of the type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent such limitation, would have exceeded the Maximum Rate, then the interest rate for that month shall be the Maximum Rate, and, if in future months, that interest rate would otherwise be less than the Maximum Rate, then that interest rate shall remain at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited in prior months by the Maximum Rate. In the event that, upon Payment in Full of the Obligations under this Agreement, the total amount of interest paidAgreement charged or accrued undercollected pursuant to the terms of this Agreement is less thanexceed the total amounthighest rate permissible under any Applicable Law which a court of interest which would, but for this [Section 2.7], have been paid or accrued if the interest rates otherwise set forthcompetent jurisdiction shall, in this Agreement had at all times been in effect, then Borrowers shall, to the extent permitted bya final determination, deem applicable law, pay Agent, for the account of Lenders, an amount equal to the difference between # the lesser of # the amount of interest which would have been charged if the Maximum Rate had, at all times, been in effect or # the amount of interest which would have accrued had the interest rates otherwise set forth in this Agreement, at all times, been in effect and # the amount of interest actually paid or accrued under this Agreement.hereto. In the event that such a court determines that Agent and/ have charged or any Lender has received interest and other charges hereunder in excess of the Maximum Rate, such excess shall be deemed received on account of, andhighest applicable rate, the rate in effect hereunder shall automatically be appliedreduced to reduce, the Obligations other than interest, inmaximum rate permitted by Applicable Law and shall at the inverse order of maturity, and if there are no Obligations outstanding, the Agent and/or such Lender shallAdministrative Agent’s option # promptly refund to Borrowersthe Borrower any interest received by in excess of the maximum lawful rate or # apply such excess.excess to the principal balance of the Obligations. It is the intent hereof that the Borrower not pay or contract to pay, and that neither the Administrative Agent nor any Lender receive or contract to receive, directly or indirectly in any manner whatsoever, interest in excess of that which may be paid by the Borrower under Applicable Law.
Maximum Interest Rate. In no contingency or event whatsoever shall anythe aggregate of all amounts deemed interest rate provided for hereunder exceed the maximum rate permissible for corporate borrowers under applicable law for loans of the type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent such limitation, would have exceeded the Maximum Rate, then the interest rate for that month shall be the Maximum Rate, and, if in future months, that interest rate would otherwise be less than the Maximum Rate, then that interest rate shall remain at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited in prior months by the Maximum Rate. In the event that, upon Payment in Full of the Obligations under this Agreement, the total amount of interest paidAgreement charged or accrued undercollected pursuant to the terms of this Agreement is less thanexceed the total amounthighest rate permissible under any Applicable Law which a court of interest which would, but for this [Section 2.7], have been paid or accrued if the interest rates otherwise set forthcompetent jurisdiction shall, in this Agreement had at all times been in effect, then Borrowers shall, to the extent permitted bya final determination, deem applicable law, pay Agent, for the account of Lenders, an amount equal to the difference between # the lesser of # the amount of interest which would have been charged if the Maximum Rate had, at all times, been in effect or # the amount of interest which would have accrued had the interest rates otherwise set forth in this Agreement, at all times, been in effect and # the amount of interest actually paid or accrued under this Agreement.hereto. In the event that such a court determines that Agent and/the Lenders have charged or any Lender has received interest and other charges hereunder in excess of the Maximum Rate, such excess shall be deemed received on account of, andhighest applicable rate, the rate in effect hereunder shall automatically be appliedreduced to reduce, the Obligations other than interest, inmaximum rate permitted by Applicable Law and the inverse order of maturity, and if there are no Obligations outstanding,Lenders shall at the Agent and/or such Lender shallAdministrative Agent's option # promptly refund to Borrowersthe Borrower any interest received by the Lenders in excess of the maximum lawful rate or # apply such excess.excess to the principal balance of the Obligations. It is the intent hereof that the Borrower not pay or contract to pay, and that neither the Administrative Agent nor any Lender receive or contract to receive, directly or indirectly in any manner whatsoever, interest in excess of that which may be paid by the Borrower under Applicable Law.
Maximum Interest Rate. In no contingency or event whatsoever shall anythe aggregate of all amounts deemed interest rate provided for hereunder exceed the maximum rate permissible for corporate borrowers under applicable law for loans of the type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent such limitation, would have exceeded the Maximum Rate, then the interest rate for that month shall be the Maximum Rate, and, if in future months, that interest rate would otherwise be less than the Maximum Rate, then that interest rate shall remain at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited in prior months by the Maximum Rate. In the event that, upon Payment in Full of the Obligations under this Agreement, the total amount of interest paidAgreement charged or accrued undercollected pursuant to the terms of this Agreement is less thanexceed the total amounthighest rate permissible under any Applicable Law which a court of interest which would, but for this [Section 2.7], have been paid or accrued if the interest rates otherwise set forthcompetent jurisdiction shall, in this Agreement had at all times been in effect, then Borrowers shall, to the extent permitted bya final determination, deem applicable law, pay Agent, for the account of Lenders, an amount equal to the difference between # the lesser of # the amount of interest which would have been charged if the Maximum Rate had, at all times, been in effect or # the amount of interest which would have accrued had the interest rates otherwise set forth in this Agreement, at all times, been in effect and # the amount of interest actually paid or accrued under this Agreement.hereto. In the event that such a court determines that Agent and/the Lenders have charged or any Lender has received interest and other charges hereunder in excess of the Maximum Rate, such excess shall be deemed received on account of, andhighest applicable rate, the rate in effect hereunder shall automatically be appliedreduced to reduce, the Obligations other than interest, inmaximum rate permitted by Applicable Law and the inverse order of maturity, and if there are no Obligations outstanding,Lenders shall at the Agent and/or such Lender shallAdministrative Agents option # promptly refund to Borrowersthe Borrower any interest received by the Lenders in excess of the maximum lawful rate or # apply such excess.excess to the principal balance of the Obligations. It is the intent hereof that the Borrower not pay or contract to pay, and that neither the Administrative Agent nor any Lender receive or contract to receive, directly or indirectly in any manner whatsoever, interest in excess of that which may be paid by the Borrower under Applicable Law.
Maximum Interest Rate. In no event3.10Maximum Interest. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall any interest rate provided for hereundernot exceed the maximum rate permissible for corporate borrowers under applicable law for loans of the type provided for hereunder (the “Maximumnon-usurious interest permitted by Applicable Law (“Maximum Rate”). If,If Agent or any Lender shall receive interest in any month, any interest rate, absent such limitation, would have exceededan amount that exceeds the Maximum Rate, thenthe excess interest shall be applied to the principal of the Obligations or, if it exceeds such unpaid principal, refunded to Borrowers. In determining whether the interest rate for that month shall becontracted for, charged or received by Agent or a Lender exceeds the Maximum Rate, and, ifsuch Person may, to the extent permitted by Applicable Law, # characterize any payment that is not principal as an expense, fee or premium rather than interest; # exclude voluntary prepayments and the effects thereof; and # amortize, prorate, allocate and spread in future months, that interest rate would otherwise be less than the Maximum Rate, then that interest rate shall remain at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited in prior months by the Maximum Rate. In the event that, upon Payment in Full of the Obligations under this Agreement,equal or unequal parts the total amount of interest paid or accrued underthroughout the terms of this Agreement is less than the total amount of interest which would, but for this [Section 2.7], have been paid or accrued if the interest rates otherwise set forth in this Agreement had at all times been in effect, then Borrowers shall, to the extent permitted by applicable law, pay Agent, for the account of Lenders, an amount equal to the difference between # the lesser of # the amount of interest which would have been charged if the Maximum Rate had, at all times, been in effect or # the amount of interest which would have accrued had the interest rates otherwise set forth in this Agreement, at all times, been in effect and # the amount of interest actually paid or accrued under this Agreement. In the event that a court determines that Agent and/or any Lender has received interest and other charges hereunder in excesscontemplated term of the Maximum Rate, such excess shall be deemed received on account of, and shall automatically be applied to reduce, the Obligations other than interest, in the inverse order of maturity, and if there are no Obligations outstanding, the Agent and/or such Lender shall refund to Borrowers such excess.hereunder.
Maximum Interest Rate.Usury Recapture. In nothe event shallthe rate of interest chargeable under this Agreement at any interest rate provided for hereunder exceed the maximum rate permissible for corporate borrowerstime (calculated after giving effect to all items charged which constitute interest under applicable law for loans of the type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent such limitation, would have exceeded the Maximum Rate, then the interest rate for that month shall be the Maximum Rate, and,Legal Requirements, including fees and margin amounts, if in future months, that interest rate would otherwise be lessapplicable) is greater than the Maximum Rate, then thatthe unpaid principal amount of the Loans shall bear interest rate shall remain at the Maximum Rate until such time as the total amount of interest paid hereunderor accrued on the Loans equals the amount of interest which would have been paid or accrued on the Loans if the samestated rates of interest set forth in this Agreement had notat all times been limited in prior months by the Maximum Rate.effect. In the event that,event, upon Paymentpayment in Fullfull of the Obligations under this Agreement,Loans, the total amount of interest paid or accrued under the terms of this Agreement and the Loans is less than the total amount of interest which would, but for this [Section 2.7],would have been paid or accrued if the interest rates otherwiseof interest set forth in this Agreement hadhad, at all timestimes, been in effect, then Borrowersthe Borrower shall, to the extent permitted by applicable law,Legal Requirements, pay Agent,the Administrative Agent for the account of Lenders,[[Organization B:Organization]] an amount equal to the difference between # the lesser of # the amount of interest which would have been charged on its Loans if the Maximum Rate had, at all times, been in effect or # the amount of interest which would have accrued had the interest rates otherwise set forth in this Agreement, at all times, been in effect and # the amount of interest which would have accrued on its Loans if the rates of interest set forth in this Agreement had at all times been in effect and # the amount of interest actually paid or accrued under this Agreement.Agreement on its Loans. In the event that a court determines that Agent and/[[Organization B:Organization]] ever receive, collect or apply as interest any Lender has received interest and other charges hereundersum in excess of the Maximum Rate, such excess shall be deemed received on account of, and shall automaticallyamount shall, to the extent permitted by law, be applied to reduce,the reduction of the principal balance of the Loans, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower. In determining whether the interest contracted for, charged, or received by a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Legal Requirements, # characterize any payment that is not principal as an expense, fee, or premium rather than interest, # exclude voluntary prepayments and the effects thereof, and # amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations other than interest, in the inverse order of maturity, and if there are no Obligations outstanding, the Agent and/or such Lender shall refund to Borrowers such excess.hereunder.
Maximum Interest Rate. In no contingency or event whatsoever shall anythe aggregate of all amounts deemed interest rate provided for hereunder exceed the maximum rate permissible for corporate borrowers under applicable law for loans of the type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent such limitation, would have exceeded the Maximum Rate, then the interest rate for that month shall be the Maximum Rate, and, if in future months, that interest rate would otherwise be less than the Maximum Rate, then that interest rate shall remain at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited in prior months by the Maximum Rate. In the event that, upon Payment in Full of the Obligations under this Agreement, the total amount of interest paidAgreement charged or accrued undercollected pursuant to the terms of this Agreement is less thanexceed the total amounthighest rate permissible under any applicable law which a court of interest which would, but for this [Section 2.7], have been paid or accrued if the interest rates otherwise set forthcompetent jurisdiction shall, in this Agreement had at all times been in effect, then Borrowers shall, to the extent permitted bya final determination, deem applicable law, pay Agent, for the account of Lenders, an amount equal to the difference between # the lesser of # the amount of interest which would have been charged if the Maximum Rate had, at all times, been in effect or # the amount of interest which would have accrued had the interest rates otherwise set forth in this Agreement, at all times, been in effect and # the amount of interest actually paid or accrued under this Agreement.hereto. In the event that such a court determines that Agent and/[[Organization B:Organization]] have charged or any Lender has received interest and other charges hereunder in excess of the Maximum Rate, such excess shall be deemed received on account of, andhighest applicable rate, the rate in effect hereunder shall automatically be appliedreduced to reduce,the maximum rate permitted by applicable law and [[Organization B:Organization]] shall at the Administrative Agent’s option # promptly refund to the Borrower any interest received by [[Organization B:Organization]] in excess of the maximum lawful rate or # apply such excess to the principal balance of the Obligations other than interest,on a pro rata basis. It is the intent hereof that the Borrower not pay or contract to pay, and that neither the Administrative Agent nor any Lender receive or contract to receive, directly or indirectly in any manner whatsoever, interest in excess of that which may be paid by the inverse order of maturity, and if there are no Obligations outstanding, the Agent and/or such Lender shall refund to Borrowers such excess.Borrower under applicable law.
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