Maximum Lawful Rate. In no event shall the amount of interest due or payments in the nature of interest payable hereunder exceed the maximum non-usurious interest permitted by applicable law (the “Maximum Lawful Rate”). If from any possible construction of any document or from receipt of anything of value by the Holder, interest would otherwise be payable in excess of the Maximum Lawful Rate, any such construction or receipt shall be subject to the provisions of this paragraph and such document shall be automatically reformed and the interest payable shall be automatically reduced to the Maximum Lawful Rate, without the necessity of execution of any amendment or new document, and any interest in excess of the Maximum Lawful Rate shall be applied to the reduction of the principal amount owing under this Note, or refunded to the Issuer or other payor thereof if and to the extent such excessive amount exceeds such unpaid principal amount.
Notwithstanding any other provision of this Agreement or the other Basic Documents, if at any time the rate of interest payable by any Person under the Basic Documents exceeds the Maximum Lawful Rate, then, so long as the Maximum Lawful Rate would be exceeded, such rate of interest shall be equal to the Maximum Lawful Rate. If at any time thereafter the rate of interest so payable is less than the Maximum Lawful Rate, such Person shall continue to pay Interest at the Maximum Lawful Rate until such time as the total interest received from such Person is equal to the total Interest that would have been received had Applicable Law not limited the interest rate so payable. In no event shall the amount of interest due or payments intotal Interest received by a Lender under this Agreement and the nature of interest payable hereunderother Basic Documents exceed the maximum non-usurious interest permitted by applicable law (the “Maximum Lawful Rate”). Ifamount which such Lender could lawfully have received, had the Interest due been calculated from any possible construction of any document or from receipt of anything of value by the Holder, interest would otherwise be payable in excess ofClosing Date at the Maximum Lawful Rate, any such construction or receipt shall be subject to the provisions of this paragraph and such document shall be automatically reformed and the interest payable shall be automatically reduced to the Maximum Lawful Rate, without the necessity of execution of any amendment or new document, and any interest in excess of the Maximum Lawful Rate shall be applied to the reduction of the principal amount owing under this Note, or refunded to the Issuer or other payor thereof if and to the extent such excessive amount exceeds such unpaid principal amount.Rate.
Maximum Lawful Rate. In no event shallUsury. To the amountextent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever claim, and will resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or at any time hereafter in force, in connection with any action or proceeding that may be brought by the Holder in order to enforce any right or remedy under this Note. Notwithstanding any provision to the contrary contained in this Note, it is expressly agreed and provided that the total liability of interest due orthe Company under this Note for payments which under the applicable law are in the nature of interest payable hereundershall not exceed the maximum non-usurious interest permitted bylawful rate authorized under applicable law (the “Maximum Lawful Rate”). If from, and, without limiting the foregoing, in no event shall any possible constructionrate of interest or default interest, or both of them, when aggregated with any documentother sums which under the applicable law in the nature of interest that the Company may be obligated to pay under this Note exceed such Maximum Rate. It is agreed that if the maximum contract rate of interest allowed by applicable law and applicable to this Note is increased or from receiptdecreased by statute or any official governmental action subsequent to the Issue Date, the new maximum contract rate of anything of valueinterest allowed by the Holder, interest would otherwiselaw will be payable in excess of the Maximum Lawful Rate,Rate applicable to this Note from the effective date thereof forward, unless such application is precluded by applicable law. If under any such construction or receipt shall be subject to the provisions of this paragraph and such document shall be automatically reformed and the interest payable shall be automatically reduced to the Maximum Lawful Rate, without the necessity of execution of any amendment or new document, and anycircumstances whatsoever, interest in excess of the Maximum Lawful Rate is paid by the Company to the Holder with respect to indebtedness evidenced by this the Note, such excess shall be applied by the Holder to the reductionunpaid principal balance of the principal amount owing under this Note,any such indebtedness or be refunded to the Issuer or other payor thereof if andCompany, the manner of handling such excess to be at the extent such excessive amount exceeds such unpaid principal amount.Holder’s election.
Maximum LawfulLegal Rate. InIt is the intent of the and Borrower that in no event shall the amountinterest be payable at a rate in excess of interest due or payments in the nature of interest payable hereunder exceed the maximum non-usurious interestrate permitted by applicable law (the “Maximum LawfulLegal Rate”). If from any possible construction of any document or from receipt of anything of value by the Holder, interest would otherwise be payable in excess of the Maximum Lawful Rate, any such construction or receipt shall be subject to the provisions of this paragraph and such document shall be automatically reformed and the interest payable shall be automatically reduced to the Maximum Lawful Rate, without the necessity of execution of any amendment or new document, and any interest in excess of the Maximum Lawful Rate shall be applied to the reduction of the principal amount owing under this Note, or refunded to the Issuer or other payor thereof if andSolely to the extent suchnecessary to prevent interest under this Note from exceeding the Maximum Legal Rate, Borrower agrees that any amount that would be treated as excessive amount exceeds such unpaid principal amount.under a final judicial interpretation of applicable law shall be deemed to have been a mistake and automatically canceled, and, if received by the , shall be refunded to Borrower, without interest.
Maximum Lawful Rate. In no event shall the amount of interest due or payments in the nature of interest payable hereunder exceed the maximum non-usurious interest permitted by applicable law (the “Maximum Lawful Rate”). If from any possible construction of any document or from receipt of anything of value by the Holder, interest would otherwisecharged under this Note be payable in excess of the Maximum Lawful Rate, anylegal maximum rate of interest (if any) allowed by applicable law, as such constructionapplicable law now exists or receipt shallas such applicable law may be subject tochanged in the provisions of this paragraph and such document shall be automatically reformed andfuture, and, in the event that interest payable shall be automatically reduced to the Maximum Lawful Rate, without the necessity of execution of any amendment or new document, and any interestis charged at a rate in excess of the Maximum Lawful Ratemaximum rate allowed, any excess sums collected hereunder shall be applied to theas a reduction of principal, it being the principal amount owing under this Note, or refunded tointent of the Issuer or other payor thereof ifMaker and to the extent such excessive amount exceeds such unpaid principal amount.Payee that the Maker shall pay no more and the Payee shall collect no more than the sums allowed using a lawful rate of interest.
Maximum Lawful Rate. In no eventNotwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall the amount of interest due or payments in the nature of interest payable hereundernot exceed the maximum rate of non-usurious interest permitted by applicable law (the “Maximum Lawful Rate”). If from any possible construction of any document or from receipt of anything of value by the Holder,Lender shall receive interest would otherwise be payable in excess ofan amount that exceeds the Maximum Lawful Rate, any such construction or receipt shall be subject to the provisions of this paragraph and such document shall be automatically reformed and theexcess interest payable shall be automatically reduced to the Maximum Lawful Rate, without the necessity of execution of any amendment or new document, and any interest in excess of the Maximum Lawful Rate shall be applied to the reductionprincipal of the principal amount owing under this Note, orLoans or, if it exceeds such unpaid principal, refunded to the Issuer or other payor thereof if and to the extent such excessive amount exceeds such unpaid principal amount.Borrower.
Maximum LawfulLegal Rate. InIt is the intent of the and that in no event shall the amountinterest be payable at a rate in excess of interest due or payments in the nature of interest payable hereunder exceed the maximum non-usurious interestrate permitted by applicable law (the “Maximum LawfulLegal Rate”). If from any possible construction of any document or from receipt of anything of value by the Holder, interest would otherwise be payable in excess of the Maximum Lawful Rate, any such construction or receipt shall be subject to the provisions of this paragraph and such document shall be automatically reformed and the interest payable shall be automatically reduced to the Maximum Lawful Rate, without the necessity of execution of any amendment or new document, and any interest in excess of the Maximum Lawful Rate shall be applied to the reduction of the principal amount owing under this Note, or refunded to the Issuer or other payor thereof if andSolely to the extent suchnecessary to prevent interest under this Note from exceeding the Maximum Legal Rate, agrees that any amount that would be treated as excessive amount exceeds such unpaid principal amount.under a final judicial interpretation of applicable law shall be deemed to have been a mistake and automatically canceled, and, if received by the , shall be refunded to , without interest.
Maximum Lawful Rate. InIt is the intention of the parties hereto to comply with the usury laws applicable to this loan if any, accordingly it is agreed that notwithstanding any provision to the contrary in this Promissory Note or in any of the documents securing payment hereof no eventsuch provision shall require the amountpayment or permit the collection of interest due or payments in the nature of interest payable hereunder exceed the maximum non-usurious interest permitted by applicable law (the “Maximum Lawful Rate”). If from any possible construction of any document or from receipt of anything of value by the Holder, interest would otherwise be payable in excess of the Maximum Lawful Rate,maximum permitted by law. If any such constructionexcess of interest is provided for, contracted for, charged for or receipt shall be subject toreceived, then the provisions of this paragraph shall govern and control and neither the Maker hereof nor any other party liable for the payment hereof shall be obligated to pay the amount of such documentexcess interest. Any such excess interest which may have been collected shall be, at the Holder's option, either applied as a credit against the then unpaid principal amount hereof or refunded to Maker. The effective rate of interest shall be automatically reformed andsubject to reduction to the maximum lawful contract rate allowed under the usury laws as now or hereafter construed. It is further agreed that without limitation of the foregoing, all calculations of the rate of interest payablecontracted for, charged for, or received under this Promissory Note which are made for the purposes of determining whether such rate exceeds the maximum lawful rate, shall be automatically reduced to the Maximum Lawful Rate, without the necessity of execution of any amendment or new document, and any interest in excess of the Maximum Lawful Rate shall be applied to the reduction of the principal amount owing under this Note, or refunded to the Issuer or other payor thereof if andmade, to the extent such excessive amount exceeds such unpaid principal amount.permitted by law, by amortizing, prorating, allocating and spreading in equal parts during the full stated term of this Note, all interest contracted for, charged for or received from the Maker or otherwise by the Note Holder.
Maximum Lawful Rate. In no event shall the amountinterest rate or rates payable under this Note, plus any other amounts paid in connection herewith, exceed the highest rate permissible under any law that a court of competent jurisdiction shall, in a final determination, deem applicable. Borrower and Lender intend legally to agree upon the rate or rates of interest due(and the other amounts paid in connection herewith) and manner of payment stated within this Note; provided, however, that anything contained herein to the contrary notwithstanding, if said interest rate or payments in the naturerates of interest payable hereunder exceed(or other amounts paid in ·connection herewith) or the manner of payment exceeds the maximum non-usurious interest permittedallowable under applicable law, then, ipso facto as of the date of this Note, Borrower is and shall be liable only for the payment of such maximum as allowed by applicable law (the “Maximum Lawful Rate”). Iflaw, and payment received from any possible construction of any document or from receipt of anything of value by the Holder, interest would otherwise be payableBorrower in excess of the Maximum Lawful Rate, any such construction or receipt shall be subject to the provisions of this paragraph and such document shall be automatically reformed and the interest payable shall be automatically reduced to the Maximum Lawful Rate, without the necessity of execution of any amendment or new document, and any interest in excess of the Maximum Lawful Ratelegal maximum, whenever received, shall be applied to the reduction ofreduce the principal amount owing underbalance of this Note, or refunded to the Issuer or other payor thereof if andNote to the extent of such excessive amount exceeds such unpaid principal amount.excess.
Maximum Lawful Rate. In no eventInterest Rate Limitation. Notwithstanding anything to the contrary contained in this Note or the Purchase Agreement (the Loan Documents), the interest paid or agreed to be paid under the Loan Documents shall the amount of interest due or payments in the nature of interest payable hereundernot exceed the maximum rate of non-usurious interest permitted by applicable law (the “Maximum Lawful Rate”Maximum Rate). If from any possible construction of any document or from receipt of anything of value by the Holder,Holder shall receive interest would otherwise be payable in excess ofan amount that exceeds the Maximum Lawful Rate, any such construction or receipt shall be subject to the provisions of this paragraph and such document shall be automatically reformed and theexcess interest payable shall be automatically reduced to the Maximum Lawful Rate, without the necessity of execution of any amendment or new document, and any interest in excess of the Maximum Lawful Rate shall be applied to the reduction of the principal amount owingremaining owed under this Note, orNote or, if it exceeds such unpaid principal, refunded to the IssuerPartnership. In determining whether the interest contracted for, charged, or other payor thereof if andreceived by the Holder exceeds the Maximum Rate, the Holder may, to the extent such excessivepermitted 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 equal or unequal parts the total amount exceeds such unpaid principal amount.of interest throughout the contemplated term of this Note.
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