11Interest Rate Limitation Sample Clauses

11Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the Interest Rate applicable to any Loan, together with all fees, charges and other amounts that are treated as interest on such Loan under applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) that may be contracted for, charged, taken, received or reserved by the Lender in accordance with applicable Law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and the interest and Charges payable to the Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the lesser of (i) the Interest Rate and (ii) the Maximum Rate, to the date of repayment, shall have been received by the Lender. 560824274.4 [NEWYORK 2931135_16] To: Petroandina Resources Corporation N.V. as the Lender Attn: M▇▇▇▇▇▇▇▇▇▇▇ ▇/▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ via e-mail: Reference is made to the Loan Agreement, dated as of September 11, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Agreement”) among Harvest Natural Resources, Inc., HNR Energia B.V., as the borrower (the “Borrower”), and Petroandina Resources Corporation N.V., as the lender (the “Lender”). Each capitalized term used but not defined herein has the meaning ascribed to such term in the Agreement. Pursuant to Section 2.03 of the Agreement, the undersigned, in its capacity as a Responsible Officer of the Borrower and not individually, hereby: 1. ▇▇▇▇▇ you irrevocable notice on behalf of the Borrower that the Borrower hereby requests a Loan to be made to the Borrower, and sets forth below the information relating to such Loan (the “Requested Borrowing”) as required by the Agreement: (a) The Borrowing Date is [DATE]; (b) The aggregate principal amount of the Requested Borrowing is US$[_______]; 2. Provides the following wire instructions: Name of Bank:____________________ A/C No.:_____________________________ A/C Name:___________________________ ABA No.:____________________________ Swift Code :__________________________ Reference :___________________________ 3. Pursuant to Section 4...