Common use of Agreements Regarding Interest and Other Charges Clause in Contracts

Agreements Regarding Interest and Other Charges. Borrower and Lender hereby agree that the only charges imposed or to be imposed by Lender upon Borrower for the use of money in connection with the Loan is and will be the interest required to be paid under the provisions of this Agreement as well as the related provisions of the Note. In no event shall the amount of interest due and payable under this Agreement, the Note or any of the other Loan Documents or the Environmental Indemnification Agreement exceed the maximum rate of interest allowed by applicable law. It is the express intent hereof that Borrower not pay and Lender not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. Any and all charges, fees, and other amounts payable hereunder not identified as “interest” are not intended, and shall not be deemed, to be interest. All interest, and all other charges, fees or other amounts deemed to be interest notwithstanding the preceding sentence, which are paid or agreed to be paid to Lender under this Agreement, the Note or any of the other Loan Documents shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro rata basis throughout the entire actual term of the Loan (including any extension or renewal period), or at Lender’s election and to the extent permitted by applicable law, credited as a payment of principal (without any Prepayment Premium).

Appears in 10 contracts

Samples: Loan Agreement (Hartman Short Term Income Properties XX, Inc.), Loan Agreement (Hartman Short Term Income Properties XX, Inc.), Loan Agreement (Hartman Short Term Income Properties XX, Inc.)

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Agreements Regarding Interest and Other Charges. Borrower and Lender hereby agree that the only charges imposed or to be imposed by Lender upon Borrower for the use of money in connection with the Loan is and will be the interest required to be paid under the provisions of this Agreement as well as the related provisions of the Note. In no event shall the amount of interest due and payable under this Agreement, the Note or any of the other Loan Documents or the Environmental Indemnification Agreement exceed the maximum rate of interest allowed by applicable law. It is the express intent hereof that Borrower not pay and Lender not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. Any and all charges, fees, and other amounts payable hereunder not identified as "interest" are not intended, and shall not be deemed, to be interest. All interest, and all other charges, fees or other amounts deemed to be interest notwithstanding the preceding sentence, which are paid or agreed to be paid to Lender under this Agreement, the Note or any of the other Loan Documents shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro rata basis throughout the entire actual term of the Loan (including any extension or renewal period), or at Lender’s 's election and to the extent permitted by applicable law, credited as a payment of principal (without any Prepayment Premium)principal.

Appears in 3 contracts

Samples: Loan Agreement (Great Lakes Reit), Loan Agreement (Summit Hotel Properties LLC), Loan Agreement (Summit Hotel Properties LLC)

Agreements Regarding Interest and Other Charges. Borrower Borrowers and Lender hereby agree that the only charges imposed or to be imposed by Lender upon Borrower Borrowers for the use of money in connection with the Loan is and will be the interest required to be paid under the provisions of this Agreement as well as the related provisions of the Note. In no event shall the amount of interest due and payable under this Agreement, the Note or any of the other Loan Documents or the Environmental Indemnification Agreement exceed the maximum rate of interest allowed by applicable law. It is the express intent hereof that Borrower Borrowers not pay and Lender not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. Any and all charges, fees, and other amounts payable hereunder not identified as “interest” are not intended, and shall not be deemed, to be interest. All interest, and all other charges, fees or other amounts deemed to be interest notwithstanding the preceding sentence, which are paid or agreed to be paid to Lender under this Agreement, the Note or any of the other Loan Documents shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro rata basis throughout the entire actual term of the Loan (including any extension or renewal period), or at Lender’s election and to the extent permitted by applicable law, credited as a payment of principal (without any Prepayment Premium)principal.

Appears in 2 contracts

Samples: Loan Agreement (Campus Crest Communities, Inc.), Loan Agreement (Campus Crest Communities, Inc.)

Agreements Regarding Interest and Other Charges. Borrower and Lender hereby agree that the only charges imposed or to be imposed by Lender upon Borrower for the use of money in connection with the Loan is and will be the interest required to be paid under the provisions of this Agreement as well as the related provisions of the Note. In no event shall the amount of interest due and payable under this Agreement, the Note or any of the other Loan Documents or the Environmental Indemnification Agreement exceed the maximum rate of interest allowed by applicable law. It is the express intent hereof that Borrower not pay and Lender not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. Any and all charges, fees, and other amounts payable hereunder not identified as “interest” are not intended, and shall not be deemed, to be interest. All interest, and all other charges, fees or other amounts deemed to be interest notwithstanding the preceding sentence, which are paid or agreed to be paid to Lender under this Agreement, the Note or any of the other Loan Documents shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro rata basis throughout the entire actual term of the Loan (including any extension or renewal period), or at Lender’s election and to the extent permitted by applicable law, credited as a payment of principal (without any Prepayment Premium)principal.

Appears in 2 contracts

Samples: Loan Agreement (Summit Hotel Properties, Inc.), Loan Agreement by And (Summit Hotel OP, LP)

Agreements Regarding Interest and Other Charges. Each Borrower ----------------------------------------------- and Lender the Bank hereby agree that the only charges imposed or to be imposed by Lender the Bank upon any Borrower for the use of money in connection with the Loan loans made hereunder is and will be the interest required to be paid under the provisions of this Agreement as well as the related provisions of the NoteLoan Documents. In no event shall the amount of interest due and payable under this Agreement, Agreement or the Note or any of the other Loan Documents or the Environmental Indemnification Agreement exceed the maximum rate of interest allowed by applicable lawlaw and, in the event any such payment is made by any Borrower or received by the Bank, such excess sum shall be credited as a payment of principal. It is the express intent hereof that no Borrower not pay and Lender the Bank not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. Any All interest and all charges, fees, and other amounts payable hereunder not identified as “interest” are not intended, and shall not be deemed, to be interest. All interest, and all other charges, fees or other amounts deemed to be interest notwithstanding the preceding sentence, which are paid or agreed to be paid to Lender the Bank under this Agreement, Agreement or the Note or any of the other Loan Documents shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro rata basis --- ---- throughout the entire actual term of the Loan loans (including any extension or renewal period). Any and all fees payable hereunder are not intended, and shall not be deemed, to be interest or at Lender’s election and to a charge for the extent permitted by applicable lawuse of money, credited as a payment but rather shall constitute an "other charge" within the meaning of principal O.C.G.A. (without any Prepayment PremiumS) 7-4-2(a)(1).. -------

Appears in 1 contract

Samples: Loan and Security Agreement (SQL Financials International Inc /De)

Agreements Regarding Interest and Other Charges. Borrower and the Lender hereby agree that the only charges imposed or to be imposed by the Lender upon Borrower for the use of money in connection with the Loan Loans or Letters of Credit is and will be the interest required to be paid under the provisions of this Agreement as well as the related provisions of the Note. In no event shall the amount of interest due and payable under this Agreement, the Note or any of the other Loan Credit Documents or the Environmental Indemnification Agreement exceed the maximum rate of interest allowed by applicable lawlaw and, in the event any such payment is made by the Borrower or any other Credit Party or received by the Lender, such excess sum shall be credited as a payment of principal. It is the express intent hereof that the Borrower not pay and the Lender not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. Any All interest and all charges, fees, and other amounts payable hereunder not identified as “interest” are not intended, and shall not be deemed, to be interest. All interest, and all other charges, fees or other amounts deemed to be interest notwithstanding the preceding sentence, which are paid or agreed to be paid to the Lender under this Agreement, the Note or any of the other Loan Documents Credit Document shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro rata basis throughout the entire actual term of the Loan Loans (including any extension or renewal period). Any and all fees payable hereunder are not intended, and shall not be deemed, to be interest or at Lender’s election and to a charge for the extent permitted by applicable lawuse of money, credited as a payment but rather shall constitute an "other charge" within the meaning of principal (without any Prepayment PremiumO.C.G.A. Section 7-4-2(a)(1).

Appears in 1 contract

Samples: Credit Agreement (Lynch Corp)

Agreements Regarding Interest and Other Charges. Borrower Pursuant to O.C.G.A. (S) 7-4-2, Borrowers and the Lender hereby agree that the -------- only charges imposed or to be imposed by the Lender upon Borrower Borrowers for the use of money in connection with the Loan Loans is and will be the interest required to be paid under the provisions of this Agreement Section 3.1 hereof as well as the related provisions of the NoteNotes. In no event shall the amount of interest due and payable under this Agreement, the Note Notes or any of the other Loan Credit Documents or the Environmental Indemnification Agreement exceed the maximum rate of interest allowed by applicable lawlaw (including, without limitation, O.C.G.A. (S)(S) 7-4-18) and, in the event any such payment is made by any Borrower or any other Credit Party or received by the Lender, such excess sum shall be credited as a payment of principal. It is the express intent hereof that Borrower the Borrowers not pay and the Lender not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. Any All interest and all charges, fees, and other amounts payable hereunder not identified as “interest” are not intended, and shall not be deemed, to be interest. All interest, and all other charges, fees or other amounts deemed to be interest notwithstanding the preceding sentence, which are paid or agreed to be paid to the Lender under this Agreement, the Note or any of the other Loan Credit Documents shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro rata basis throughout the entire actual term of the Loan Loans (including --- ---- any extension or renewal period), or at Lender’s election and to the extent permitted by applicable law, credited as a payment of principal (without any Prepayment Premium).

Appears in 1 contract

Samples: Credit Agreement (Communications Central Inc)

Agreements Regarding Interest and Other Charges. Borrower and Lender hereby agree that the only charges imposed or to be imposed by Lender upon Borrower for the use of money in connection with the Loan is and will be the interest required to be paid under the provisions of this Agreement as well as the related provisions of the Note. In no event shall the amount of interest due and payable under this Agreement, the Note or any of the other Loan Documents or the Environmental Indemnification Agreement exceed the maximum rate of interest allowed by applicable law. It is the express intent hereof that Borrower not pay and Lender not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. Any and all charges, fees, and other amounts payable hereunder not identified as “interest” are not intended, and shall not be deemed, to be interest. All interest, and all other charges, fees or other amounts deemed to be interest notwithstanding the preceding sentence, which are paid or agreed to be paid to Lender under this Agreement, the Note or any of the other Loan Documents shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro rata basis throughout the entire actual term of the Loan (including any extension or renewal period), or at Lender’s election and to the extent permitted by applicable law, credited as a payment of principal (without any Prepayment Premium).principal. ING No. 28536

Appears in 1 contract

Samples: Loan Agreement (Summit Hotel Properties, Inc.)

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Agreements Regarding Interest and Other Charges. Borrower and the Lender hereby agree that the only charges imposed or to be imposed by the Lender upon Borrower for the use of money in connection with the Loan Loans is and will be the interest required to be paid under the provisions of this Agreement as well as the related provisions of the NoteNotes. In no event shall the amount of interest due and payable under this Agreement, the Note Notes or any of the other Loan Credit Documents or the Environmental Indemnification Agreement exceed the maximum rate of interest allowed by applicable lawlaw and, in the event any such payment is made by the Borrower or any other Credit Party or received by the Lender, such excess sum shall be credited as a payment of principal. It is the express intent hereof that the Borrower not pay and the Lender not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. Any All interest and all charges, fees, and other amounts payable hereunder not identified as “interest” are not intended, and shall not be deemed, to be interest. All interest, and all other charges, fees or other amounts deemed to be interest notwithstanding the preceding sentence, which are paid or agreed to be paid to the Lender under this Agreement, the Note Notes or any of the other Loan Documents Credit Document shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro rata PRO RATA basis throughout the entire actual term of the Loan Loans (including any extension or renewal period). Any and all fees payable hereunder are not intended, and shall not be deemed, to be interest or at Lender’s election and to a charge for the extent permitted by applicable lawuse of money, credited as a payment but rather shall constitute an "other charge" within the meaning of principal (without any Prepayment PremiumO.C.G.A. ss. 7-4-2(a)(1).

Appears in 1 contract

Samples: Loan Agreement (Bull Run Corp)

Agreements Regarding Interest and Other Charges. Borrower and Lender hereby agree that the only charges imposed or to be imposed by Lender upon Borrower for the use of money in connection with the Loan is and will be the interest required to be paid under the provisions of this Agreement as well as the related provisions of the Note. In no event shall the amount of interest due and payable under this Agreement, the Note or any of the other Loan Documents or the Environmental Indemnification Agreement exceed the maximum rate of interest allowed by applicable law. It is the express intent hereof that Borrower not pay and Lender not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. Any and all charges, fees, and other amounts payable hereunder not identified as “interest” are not intended, and shall not be deemed, to be interest. All interest, and all other charges, fees or other amounts deemed to be interest notwithstanding the preceding sentence, which are paid or agreed to be paid to Lender under this Agreement, the Note or any of the other Loan Documents shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro rata basis throughout the entire actual term of the Loan (including any extension or renewal period), or at Lender’s 's election and to the extent permitted by applicable law, credited as a payment of principal (without any Prepayment Premium).

Appears in 1 contract

Samples: Loan Agreement (Glimcher Realty Trust)

Agreements Regarding Interest and Other Charges. Borrower ----------------------------------------------- and Lender the Bank hereby agree that the only charges imposed or to be imposed by Lender the Bank upon Borrower for the use of money in connection with the Loan loans made hereunder is and will be the interest required to be paid under the provisions of this Agreement as well as the related provisions of the NoteLoan Documents. In no event shall the amount of interest due and payable under this Agreement, Agreement or the Note or any of the other Loan Documents or the Environmental Indemnification Agreement exceed the maximum rate of interest allowed by applicable lawlaw and, in the event any such payment is made by the Borrower or received by the Bank, such excess sum shall be credited as a payment of principal. It is the express intent hereof that the Borrower not pay and Lender the Bank not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. Any All interest and all charges, fees, and other amounts payable hereunder not identified as “interest” are not intended, and shall not be deemed, to be interest. All interest, and all other charges, fees or other amounts deemed to be interest notwithstanding the preceding sentence, which are paid or agreed to be paid to Lender the Bank under this Agreement, Agreement or the Note or any of the other Loan Documents shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro rata --- ---- basis throughout the entire actual term of the Loan loans (including any extension or renewal period). Any and all fees payable hereunder are not intended, and shall not be deemed, to be interest or at Lender’s election and to a charge for the extent permitted by applicable lawuse of money, credited as a payment but rather shall constitute an "other charge" within the meaning of principal O.C.G.A. (without any Prepayment PremiumS) 7-4-2(a)(1).. --------

Appears in 1 contract

Samples: Loan and Security Agreement (Manhattan Associates Inc)

Agreements Regarding Interest and Other Charges. Borrower and the Lender hereby agree that the only charges imposed or to be imposed by the Lender upon Borrower for the use of money in connection with the Loan is and will be the interest required to be paid under the provisions of this Agreement as well as the related provisions of the Note. In no event shall the amount of interest due and payable under this Agreement, the Note or any of the other Loan Credit Documents or the Environmental Indemnification Agreement exceed the maximum rate of interest allowed by applicable lawlaw and, in the event any such payment is made by any Borrower or any other Credit Party or received by the Lender, such excess sum shall be credited as a payment of principal. It is the express intent hereof that the Borrower not pay and the Lender not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. Any All interest and all charges, fees, and other amounts payable hereunder not identified as “interest” are not intended, and shall not be deemed, to be interest. All interest, and all other charges, fees or other amounts deemed to be interest notwithstanding the preceding sentence, which are paid or agreed to be paid to the Lender under this Agreement, the Note or any of the other Loan Credit Documents shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro rata basis --- ---- throughout the entire actual term of the Loan (including any extension or renewal period). Any and all fees payable hereunder are not intended, and shall not be deemed, to be interest or at Lender’s election and to a charge for the extent permitted by applicable lawuse of money, credited as a payment but rather shall constitute an "other charge" within the meaning of principal O.C.G.A. (without any Prepayment PremiumS) 7-4-2(a)(1).

Appears in 1 contract

Samples: Loan Agreement (Intercept Group Inc)

Agreements Regarding Interest and Other Charges. Borrower and Lender hereby agree that the only charges imposed or to be imposed by Lender upon Borrower for the use of money in connection with the Loan is and will be the interest required to be paid under the provisions of this Agreement as well as the related provisions of the Note. In no event shall the amount of interest due and payable under this Agreement, the Note or any of the other Loan Documents or the Environmental Indemnification Agreement exceed the maximum rate of interest allowed by applicable law. It is the express intent hereof that Borrower not pay and Lender not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. Any and all charges, fees, and other amounts payable hereunder not identified as “interest” are not intended, and shall not be deemed, to be interest. All interest, and all other charges, fees or other amounts deemed to be interest notwithstanding the preceding sentence, which are paid or agreed to be paid to Lender under this Agreement, the Note or any of the other Loan Documents shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro rata basis throughout the entire actual term of the Loan (including any extension or renewal period), or at Lender’s election and to the extent permitted by applicable law, credited as a payment of principal (without any Prepayment Premium).principal. SECTION 3.05

Appears in 1 contract

Samples: Loan Agreement

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