Common use of Ceiling Election Clause in Contracts

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any Note and/or any other portion of the Obligations under the Loan Documents, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303. To the extent United States federal Law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Law, such Lender will rely on United States federal Law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law by giving notice, if required, to Borrower as provided by applicable Law now or hereafter in effect.

Appears in 17 contracts

Samples: Credit Agreement (LandBridge Co LLC), Credit Agreement (Peak Resources LP), Modification Agreement (Century Communities, Inc.)

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Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any the Note and/or any other portion of the Obligations under the Loan DocumentsIndebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 13 contracts

Samples: Promissory Note (Innovative Food Holdings Inc), Promissory Note (Innovative Food Holdings Inc), Promissory Note (Innovative Food Holdings Inc)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any Note and/or any other portion of the Obligations under the Loan Documents, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 9 contracts

Samples: Credit Agreement (Bgsf, Inc.), Credit Agreement (ArrowMark Financial Corp.), Credit Agreement (Bgsf, Inc.)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any the Note and/or any other portion of the Obligations under the Loan DocumentsRelated Indebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 7 contracts

Samples: Loan Agreement (Hines Global Reit Ii, Inc.), Building Loan Agreement (AAC Holdings, Inc.), Building Loan Agreement (AAC Holdings, Inc.)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any the Note and/or any other portion of the Obligations under the Loan DocumentsRelated Indebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by such applicable Law law now or hereafter in effect.

Appears in 6 contracts

Samples: Construction Loan Agreement (Stratus Properties Inc), Construction Loan Agreement (Stratus Properties Inc), Loan Agreement (IronPlanet Inc.)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any Note and/or any other portion of the Obligations under the Loan Documents, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303. To the extent United States federal Law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Law, such Lender will rely on United States federal Law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law by giving notice, if required, to Borrower Borrowers as provided by applicable Law now or hereafter in effect.

Appears in 4 contracts

Samples: Credit Agreement (Maxwell W Keith III), Credit Agreement (Via Renewables, Inc.), Credit Agreement (FlexEnergy Green Solutions, Inc.)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any the Revolving Credit Note and/or any other portion of the Obligations under the Loan DocumentsIndebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 4 contracts

Samples: Credit and Security Agreement (loanDepot, Inc.), Credit and Security Agreement (loanDepot, Inc.), Credit and Security Agreement (loanDepot, Inc.)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any such Note and/or any other portion of the Obligations under Indebtedness, the Loan Documents, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any the Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any the Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to the Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 3 contracts

Samples: Loan Agreement (Rf Monolithics Inc /De/), Loan Agreement (Rf Monolithics Inc /De/), Loan Agreement (Integrated Performance Systems Inc)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any such Note and/or any other portion of the Obligations under the Loan DocumentsRelated Indebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 2 contracts

Samples: Loan Agreement (Dgse Companies Inc), Loan Agreement (Dgse Companies Inc)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any such Note and/or any other portion of the Obligations under the Loan DocumentsIndebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 2 contracts

Samples: Loan Agreement (Vertical Capital Income Fund), Loan Agreement (Coolbrands International Inc)

Ceiling Election. To the extent that any the Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any Note and/or any other portion of the Obligations under Indebtedness, the Loan Documents, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any the Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such the Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any the Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to the Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 2 contracts

Samples: Deed of Trust, Security Agreement and Fixture Filing (AmREIT, Inc.), Secured Promissory Note (AmREIT, Inc.)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Highest Lawful Rate payable on any this Note and/or or any other portion part of the Obligations under the Loan DocumentsIndebtedness, such Lender Lxxxxx will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Highest Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Highest Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by such applicable Law law now or hereafter in effect.

Appears in 2 contracts

Samples: Secured Promissory Note (MCI Income Fund V, LLC), Secured Promissory Note (MCI Income Fund V, LLC)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any the Note and/or any other portion of the Obligations under the Loan DocumentsObligations, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 2 contracts

Samples: Credit Agreement (Harte Hanks Inc), Line of Credit Promissory Note (Wilhelmina International, Inc.)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any such Note and/or any other portion of the Obligations under the Loan DocumentsObligations, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower Borrowers as provided by applicable Law law now or hereafter in effect.

Appears in 2 contracts

Samples: Credit Agreement (Direct Digital Holdings, Inc.), Credit Agreement (Direct Digital Holdings, Inc.)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any the Note and/or any other portion of the Obligations under the Loan DocumentsObligations, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from REVOLVING NOTE PAGE 9 OF 13 time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 2 contracts

Samples: Credit Agreement (Harte Hanks Inc), Credit Agreement (Harte Hanks Inc)

Ceiling Election. To the extent that any Lender Lxxxxx is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any the Note and/or any other portion of the Obligations under the Loan DocumentsRelated Indebtedness, such Lender Lxxxxx will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Deed of Trust, Security Agreement and Fixture Filing (NNN Apartment REIT, Inc.)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any the Note and/or any other portion of the Obligations under the Loan DocumentsDebt, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Deed of Trust (TNP Strategic Retail Trust, Inc.)

Ceiling Election. To the extent that any the Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any such Note and/or any other portion of the Obligations under Indebtedness, the Loan Documents, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any the Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such the Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any the Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to the Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Loan Agreement (Home Solutions of America Inc)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any Note the note and/or any other portion of the Obligations under the Loan DocumentsRelated Indebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Modification Agreement (Thomas Properties Group Inc)

Ceiling Election. To the extent that any Lender Lxxxxx is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any this Note and/or any other portion of the Obligations under the Loan DocumentsRelated Indebtedness, such Lender Lxxxxx will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Promissory Note (NNN Apartment REIT, Inc.)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any Note and/or any other portion of the Obligations under the Loan DocumentsObligations, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law federa11aw permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Loan Agreement (Sielox Inc)

Ceiling Election. To the extent that any Lender is the Lenders are relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any Note the Notes and/or any other portion of the Obligations under Obligations, the Loan Documents, such Lender Lenders will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender the Lenders to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender the Lenders will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender the Lenders may, at its their option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Construction Loan Agreement (Stratus Properties Inc)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any such Promissory Note and/or any other portion of the Obligations under the Loan DocumentsObligations, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Angel Oak Mortgage, Inc.)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any Note and/or any other portion of the Obligations under the Loan DocumentsRelated Indebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Loan Agreement (PreCheck Health Services, Inc.)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Highest Lawful Rate payable on any this Note and/or or any other portion part of the Obligations under the Loan DocumentsIndebtedness, such Lender Xxxxxx will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Highest Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Highest Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by such applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Secured Promissory Note (MCI Income Fund VII, LLC)

Ceiling Election. To the extent that any Lender Payee is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any the Note and/or any other portion of the Obligations under the Loan DocumentsRelated Indebtedness, such Lender Payee will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender Payee to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender Payee will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender Payee may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower Maker as provided by such applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Promissory Note (Medsolutions Inc)

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Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any the Note and/or any other portion of the Obligations under the Loan Documentsindebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Loan Agreement (Coolbrands International Inc)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any the Term Note and/or any other portion of the Obligations under the Loan DocumentsIndebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Credit Agreement (Cryo Cell International Inc)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any the Note and/or any other portion of the Obligations under Indebtedness, the Loan Documents, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any the Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any the Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to the Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Loan Agreement (Interphase Corp)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 ---------------- of the Texas Finance Code to determine the Maximum Lawful Rate payable on any the Note and/or any other portion of the Obligations under the Loan DocumentsRelated Indebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303. as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Construction Loan Agreement (Americredit Corp)

Ceiling Election. To the extent that any Lender Xxxxxx is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any Note the Debt and/or any other portion of the Obligations under the Loan DocumentsRelated Indebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Promissory Note (IMH Financial Corp)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any this Note and/or any other portion of the Obligations under the Loan DocumentsIndebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its Lxxxxx’s option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Promissory Note (Tejas Inc)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any the Note and/or any other portion of the Obligations under the Loan DocumentsIndebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Credit Agreement (Adams Golf Inc)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any such Note and/or any other portion of the Obligations under the Loan DocumentsIndebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Credit Agreement (Harte Hanks Inc)

Ceiling Election. To the extent that any Lender is the Lenders are relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any each Note and/or any other portion of the Obligations under Obligations, the Loan Documents, such Lender Lenders will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender the Lenders to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender the Lenders will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender the Lenders may, at its their option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower Borrowers as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Loan Agreement (TransCoastal Corp)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any the Note and/or any other portion of the Obligations under the Loan DocumentsObligations, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower Borrowers as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Loan Agreement (Omega Protein Corp)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any Note and/or any other portion of the Obligations under the Loan Documents, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower Representative as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Credit Agreement (Sunnova Energy International Inc.)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 ----------------- of the Texas Finance Code to determine the Maximum Lawful Rate payable on any the Note and/or any other portion of the Obligations under the Loan DocumentsRelated Indebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.. 12.25

Appears in 1 contract

Samples: Construction Loan Agreement (Pizza Inn Inc /Mo/)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any the Note and/or any other portion of the Obligations under the Loan Documents, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303. To the extent United States federal Law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Law, such Lender will rely on United States federal Law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law by giving notice, if required, to Borrower as provided by applicable Law now or hereafter in effect.

Appears in 1 contract

Samples: Credit Agreement (Victory Energy Corp)

Ceiling Election. To the extent that any Lender is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate payable on any the Note and/or any other portion of the Obligations under the Loan DocumentsIndebtedness, such Lender will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Credit Agreement

Ceiling Election. To the extent that any Lender Xxxxxx is relying on Chapter 303 of the Texas Finance Code to determine the Maximum Lawful Rate payable on any this Note and/or any other portion of the Obligations under the Loan DocumentsRelated Indebtedness, such Lender Xxxxxx will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such Lender will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Lawful Rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any Lender may, at its option and from time to time, utilize any other method of establishing the Maximum Lawful Rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Promissory Note (NNN Apartment REIT, Inc.)

Ceiling Election. To the extent that any the Lender is Parties are relying on Chapter 303 of the Texas Finance Code to determine the Maximum Rate maximum rate payable on any such Note and/or any other portion of the Obligations under Credit Agreement Obligations, the Loan Documents, such Lender Parties will utilize the weekly ceiling from time to time in effect as provided in such Chapter 303, as amended. To the extent United States federal Law law permits any the Lender Parties to contract for, charge, take, receive or reserve a greater amount of interest than under Texas Lawlaw, such the Lender Parties will rely on United States federal Law law instead of such Chapter 303 for the purpose of determining the Maximum Ratemaximum rate. Additionally, to the extent permitted by applicable Law law now or hereafter in effect, any the Lender Parties may, at its their option and from time to time, utilize any other method of establishing the Maximum Rate maximum rate under such Chapter 303 or under other applicable Law law by giving notice, if required, to Borrower the Borrowers as provided by applicable Law law now or hereafter in effect.

Appears in 1 contract

Samples: Credit Agreement (KMG Chemicals Inc)

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