Common use of Applicable Interest Limitations Clause in Contracts

Applicable Interest Limitations. In no contingency or event whatsoever shall the aggregate of all amounts deemed interest hereunder and charged or collected pursuant to the terms of this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such court determines that the Lenders have charged or received interest hereunder in excess of the highest applicable rate, the Agent, on behalf of the Lenders, shall in its sole reasonable discretion, apply and set off such excess interest received by the Lenders against other Obligations due or to become due hereunder and such rate shall automatically be reduced to the maximum rate permitted by such law.

Applicable Interest Limitations. In no contingency or event whatsoever shall the aggregate of all amounts deemed interest hereunder and charged or collected pursuant to the terms of this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such court determines that the Lenders have charged or received interest hereunder in excess of the highest applicable rate, the Administrative Agent, on behalf of the Lenders, shall shall, in its sole reasonable discretion, apply and set off such excess interest received by the Lenders against other Obligations due or to become due hereunder and such rate shall automatically be reduced to the maximum rate permitted by such law.

Applicable Interest Limitations. In no contingency or event ------------------------------- whatsoever shall the aggregate of all amounts deemed interest hereunder and charged or collected pursuant to the terms of this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such court determines that the Lenders have charged or received interest hereunder in excess of the highest applicable rate, the Agent, on behalf of the Lenders, shall in its sole reasonable discretion, apply and set off such excess interest received by the Lenders against other Obligations due or to become due hereunder and such rate shall automatically be reduced to the maximum rate permitted by such law.