Common use of Compliance With Usury Law Clause in Contracts

Compliance With Usury Law. It is expressly stipulated and agreed to be the intent of Trustor and Beneficiary at all times to comply with the applicable Nevada law governing the maximum rate or amount of interest payable on or in connection with the Secured Obligations (or applicable United States federal law to the extent that it permits Beneficiary to contract for, charge, take, reserve or receive a greater amount of interest than under Nevada law). If the applicable Governmental Rule is ever judicially interpreted so as to render usurious any amount called for under the Credit Documents, or contracted for, charged, taken, reserved or received with respect to the extension of credit evidenced by the Credit Documents or if acceleration of the maturity of the Secured Obligations or if any prepayment by Trustor results in Trustor having paid any interest in excess of that permitted by Governmental Rule, then it is Trustor’s and Beneficiary’s express intent that all excess amounts theretofore collected by Beneficiary be credited on the principal balance due under the Credit Documents (or, if the Credit Documents have been or would thereby be paid in full, refunded to Trustor), and the provisions of the Credit Documents immediately be deemed reformed and the amounts thereafter collectible thereunder reduced, without the necessity of the execution of any new document, so as to comply with the applicable Governmental Rule, but so as to permit the recovery of the fullest amount otherwise called for hereunder and thereunder. The right to accelerate maturity of Secured Obligations does not include the right to accelerate any interest which has not otherwise accrued on the date of such acceleration, and Beneficiary does not intend to collect any unearned interest in the event of acceleration. All sums paid or agreed to be paid to Beneficiary for the use, forbearance or detention of the Secured Obligations shall, to the extent permitted by applicable Governmental Rule, be amortized, prorated, allocated and spread throughout the full term of the Secured Obligations until payment in full so that the rate or amount of interest on account of the Secured Obligations does not exceed the applicable usury

Compliance With Usury Law. It is expressly stipulated and agreed to be the intent intention of Trustor Borrower and Beneficiary Lender to comply at all times to comply with the applicable Nevada law governing the maximum rate or amount of interest payable on or in connection with the Secured Obligations Lender Notes. Accordingly, if any of the transactions contemplated by or in connection with the Subject Documents or any other document or instrument would be usurious under applicable law now or hereafter governing the interest payable hereunder (or including applicable United States federal law or applicable state law, to the extent that it permits Beneficiary to contract for, charge, take, reserve or receive a greater amount of interest than under Nevada not preempted by United States federal law). If , then in that event, notwithstanding anything to the contrary in the Subject Documents or otherwise, it is agreed as follows: (a) the aggregate of all consideration that constitutes interest under applicable Governmental Rule law that is ever judicially interpreted so as to render usurious any amount called for under the Credit Documents, or contracted for, charged, taken, reserved reserved, or received under the Lender Notes or any of the other Subject Documents or otherwise in connection with the Lender Notes with respect to thereto under no circumstances shall exceed the extension maximum amount of credit evidenced interest allowed by the Credit Documents or if acceleration of the maturity of the Secured Obligations or if applicable law, and any prepayment by Trustor results in Trustor having paid any interest in excess of that permitted by Governmental Rule, then it is Trustor’s and Beneficiary’s express intent that all excess amounts theretofore collected by Beneficiary shall be credited on such Lender Notes by the principal balance due under the Credit Documents holder thereof (or, or if the Credit Documents such shall have been or would thereby be paid in full, refunded to Trustorthe Borrower); and (b) in the event that maturity of the Lender Notes are accelerated by reason of an election by the holder thereof resulting from any default hereunder or otherwise, or in the event of any required or permitted prepayment or conversion, then such consideration that constitutes interest may never include more than the maximum amount allowed by applicable law, and excess interest, if any, provided for in such Lender Notes or otherwise shall be canceled automatically as of the date of such acceleration or prepayment and, if theretofore prepaid, shall be credited on such Lender Notes (or if such Lender Notes shall have been paid in full, refunded to Borrower), and the provisions of the Credit such Lender Notes and any other Subject Documents or other document or instrument shall immediately be deemed reformed and the amounts thereafter collectible hereunder and thereunder reducedreduced accordingly, without the necessity of the execution of any new document, so as to comply with the then applicable Governmental Rule, but so as to permit the recovery law. Determination of the fullest amount otherwise called rate of interest for hereunder and thereunder. The right purposes of determining whether this transaction is usurious under any applicable laws, to accelerate maturity of Secured Obligations does not include the right to accelerate any interest which has not otherwise accrued on the date of such accelerationfull extent permitted by applicable law, shall be made by amortizing, prorating, allocating, and Beneficiary does not intend to collect spreading throughout the full stated term hereof until payment in full, all sums at any unearned interest in the event of acceleration. All sums paid time contracted for, charged, taken, reserved, or agreed to be paid to Beneficiary received from Borrower for the use, forbearance forbearance, or detention of the Secured Obligations shall, to money in connection herewith. To the extent that Chapter 303 of the Texas Finance Code is relevant to Lender for the purpose of determining the maximum rate of interest permitted by applicable Governmental Rulelaw, be amortized, prorated, allocated and spread throughout the full term of the Secured Obligations until payment in full so that the rate or amount of interest on account of the Secured Obligations does not exceed Lender hereby elects to determine the applicable usuryrate ceiling under such Chapter by the weekly ceiling from time to time in effect, subject to Lender's right subsequently to change such method in accordance with applicable law.

Compliance With Usury Law. The Loan Documents are intended to be performed in accordance with, and only to the extent permitted by, all applicable legal requirements and Mortgagor warrants and represents that the Loan is being made for business or investment purposes. It is expressly stipulated and agreed to be the intent of Trustor Mortgagor and Beneficiary Mortgagee at all times to comply with the applicable Nevada New York and Florida law governing the maximum rate or amount of interest payable on or in connection with the Secured Obligations (or applicable United States federal law to the extent that it permits Beneficiary Mortgagee to contract for, charge, take, reserve or receive a greater amount of interest than under Nevada New York and Florida law). If the any applicable Governmental Rule legal requirement is ever judicially interpreted so as to render usurious any amount called for under the Credit Loan Documents, or contracted for, charged, taken, reserved or received with respect to the extension of credit evidenced by the Credit Loan Documents or if acceleration of the maturity of the Secured Obligations or if any prepayment by Trustor Mortgagor results in Trustor Xxxxxxxxx having paid any interest in excess of that permitted by Governmental Ruleapplicable legal requirements, then it is TrustorMortgagor’s and BeneficiaryMortgagee’s express intent that all excess amounts theretofore collected by Beneficiary Mortgagee be credited on the principal balance due under the Credit Loan Documents (or, if the Credit Loan Documents have been or would thereby be paid in full, refunded to TrustorMortgagor), without payment of any fee, premium or penalty, and the provisions of the Credit Loan Documents immediately be deemed reformed and the amounts thereafter collectible thereunder reduced, without the necessity of the execution of any new document, so as to comply with the applicable Governmental Rulelegal requirement, but so as to permit the recovery of the fullest amount otherwise called for hereunder and thereunder. The right to accelerate maturity of Secured Obligations does not include the right to accelerate any interest which has not otherwise accrued on the date of such acceleration, and Beneficiary Mortgagee does not intend to collect any unearned interest in the event of acceleration. All sums paid or agreed to be paid to Beneficiary Mortgagee for the use, forbearance or detention of the Secured Obligations shall, to the extent permitted by applicable Governmental Rulelegal requirements, be amortized, prorated, allocated and spread throughout the full term of the Secured Obligations until payment in full so that the rate or amount of interest on account of the Secured Obligations does not exceed the applicable usuryusury ceiling.

Compliance With Usury Law. The Note Documents are intended to be performed in accorxxxxx with, and only to the extent permitted by, all applicable Governmental Rules. It is expressly stipulated and agreed to be the intent of Trustor Grantor and Beneficiary at all times to comply with the applicable Nevada Missouri law governing the maximum rate or amount of interest payable on or in connection with the Secured Obligations (or applicable United States federal law to the extent that it permits Beneficiary to contract for, charge, take, reserve or receive a greater amount of interest than under Nevada Missouri law). If the applicable Governmental Rule law is ever judicially interpreted so as to render usurious any amount called for under the Credit Note Documents, or contracted for, charged, taken, reserved or received with respect to the extension of credit financial accommodations evidenced by the Credit Note Documents or if acceleration of the maturity of the Secured Obligations or if any prepayment by Trustor Grantor results in Trustor Grantor having paid any interest in excess of that permitted by Governmental Rulelaw, then it is Trustor’s Grantor's and Beneficiary’s 's express intent that all excess amounts theretofore collected by Beneficiary be credited on the principal balance due under the Credit Note Documents (or, if the Credit Note Documents have been or would thereby be paid in full, refunded to TrustorGrantor), and the provisions of the Credit Note Documents immediately be deemed reformed and the amounts thereafter collectible thereunder reduced, without the necessity of the execution of any new document, so as to comply with the applicable Governmental Rulelaw, but so as to permit the recovery of the fullest amount otherwise called for hereunder and thereunder. The right to accelerate maturity of Secured Obligations does not include the right to accelerate any interest which has not otherwise accrued on the date of such acceleration, and Beneficiary does not intend to collect any unearned interest in the event of acceleration. All sums paid or agreed to be paid to Beneficiary for the use, forbearance or detention retention of the Secured Obligations shall, to the extent permitted by applicable Governmental Rulelaw, be amortized, prorated, allocated and spread throughout the full term of the Secured Obligations until payment in full so that the rate or amount of interest on account of the Secured Obligations does not exceed the applicable usuryusury ceiling.

Compliance With Usury Law. The Credit Documents are intended to be performed in accordance with, and only to the extent permitted by, all applicable governmental rules and legal requirements. It is expressly stipulated and agreed to be the intent of Trustor Mortgagor and Beneficiary Mortgagee at all times to comply with the applicable Nevada [STATE] law governing the maximum rate or amount of interest payable on or in connection with the Secured Obligations (or applicable United States federal law to the extent that it permits Beneficiary Mortgagee to contract for, charge, take, reserve or receive a greater amount of interest than under Nevada [STATE] law). If the applicable Governmental Rule law is ever judicially interpreted so as to render usurious any amount called for under the Credit Documents, or contracted for, charged, taken, reserved or received with respect to the extension of credit evidenced by the Credit Documents or if acceleration of the maturity of the Secured Obligations or if any prepayment by Trustor Mortgagor results in Trustor Mortgagor having paid any interest in excess of that permitted by Governmental Rulelaw, then it is TrustorMortgagor’s and BeneficiaryMortgagee’s express intent that all excess amounts theretofore collected by Beneficiary Mortgagee be credited on the principal balance due under the Credit Documents (or, if the Credit Documents have been or would thereby be paid in full, refunded to TrustorMortgagor), and the provisions of the Credit Documents immediately be deemed reformed and the amounts thereafter collectible thereunder reduced, without the necessity of the execution of any new document, so as to comply with the applicable Governmental Rulelaw, but so as to permit the recovery of the fullest amount otherwise called for hereunder and thereunder. The right to accelerate maturity of Secured Obligations does not include the right to accelerate any interest which that has not otherwise accrued on the date of such acceleration, and Beneficiary Mortgagee does not intend to collect any unearned interest in the event of acceleration. All sums paid or agreed to be paid to Beneficiary Mortgagee for the use, forbearance or detention of the Secured Obligations shall, to the extent permitted by applicable Governmental Rulelaw, be amortized, prorated, allocated and spread throughout the full term of the Secured Obligations until payment in full so that the rate or amount of interest on account of the Secured Obligations does not exceed the applicable usuryusury ceiling.

Compliance With Usury Law. The Note Documents and the Loan Documents are intended to be performed in accordance with, and only to the extent permitted by, all applicable Governmental Rules. It is expressly stipulated and agreed to be the intent of Trustor Grantor and Beneficiary at all times to comply with the applicable Nevada Virginia law governing the maximum rate or amount of interest payable on or in connection with the Secured Obligations (or applicable United States federal law to the extent that it permits Beneficiary to contract for, charge, take, reserve or receive a greater amount of interest than under Nevada Virginia law). If the applicable Governmental Rule law is ever judicially interpreted so as to render usurious any amount called for under the Credit Note Documents and the Loan Documents, or contracted for, charged, taken, reserved or received with respect to the extension of credit evidenced by the Credit Note Documents and the Loan Documents or if acceleration of the maturity of the Secured Obligations or if any prepayment by Trustor Grantor results in Trustor Grantor having paid any interest in excess of that permitted by Governmental Rulelaw, then it is Trustor’s Grantor's and Beneficiary’s 's express intent that all excess amounts theretofore collected by Beneficiary be credited on the principal balance due under the Credit Note Documents and the Loan Documents (or, if the Credit Note Documents and the Loan Documents have been or would thereby be paid in full, refunded to TrustorGrantor), and the provisions of the Credit Note Documents and the Loan Documents immediately be deemed reformed and the amounts thereafter collectible thereunder reduced, without the necessity of the execution of any new document, so as to comply with the applicable Governmental Rulelaw, but so as to permit the recovery of the fullest amount otherwise called for hereunder and thereunder. The right to accelerate maturity of Secured Obligations does not include the right to accelerate any interest which has not otherwise accrued on the date of such acceleration, and Beneficiary does not intend to collect any unearned interest in the event of acceleration. All sums paid or agreed to be paid to Beneficiary for the use, forbearance or detention retention of the Secured Obligations shall, to the extent permitted by applicable Governmental Rulelaw, be amortized, prorated, allocated and spread throughout the full term of the Secured Obligations until payment in full so that the rate or amount of interest on account of the Secured Obligations does not exceed the applicable usuryusury ceiling.

Compliance With Usury Law. The Loan Documents are intended to be performed in xxxxxdance with, and only to the extent permitted by, all applicable Governmental Rules. It is expressly stipulated and agreed to be the intent of Trustor Grantor and Beneficiary at all times to comply with the applicable Nevada Missouri law governing the maximum rate or amount of interest payable on or in connection with the Secured Obligations (or applicable United States federal law to the extent that it permits Beneficiary to contract for, charge, take, reserve or receive a greater amount of interest than under Nevada Missouri law). If the applicable Governmental Rule law is ever judicially interpreted so as to render usurious any amount called for under the Credit Loan Documents, or contracted for, charged, taken, reserved or received with respect to the extension of credit financial accommodations evidenced by the Credit Loan Documents or if acceleration of the maturity of the Secured Obligations or if any prepayment by Trustor Grantor results in Trustor Grantor having paid any interest in excess of that permitted by Governmental Rulelaw, then it is Trustor’s Grantor's and Beneficiary’s 's express intent that all excess amounts theretofore collected by Beneficiary be credited on the principal balance due under the Credit Loan Documents (or, if the Credit Loan Documents have been or would thereby be paid in full, refunded to TrustorGrantor), and the provisions of the Credit Loan Documents immediately be deemed reformed and the amounts thereafter collectible thereunder reduced, without the necessity of the execution of any new document, so as to comply with the applicable Governmental Rulelaw, but so as to permit the recovery of the fullest amount otherwise called for hereunder and thereunder. The right to accelerate maturity of Secured Obligations does not include the right to accelerate any interest which has not otherwise accrued on the date of such acceleration, and Beneficiary does not intend to collect any unearned interest in the event of acceleration. All sums paid or agreed to be paid to Beneficiary for the use, forbearance or detention retention of the Secured Obligations shall, to the extent permitted by applicable Governmental Rulelaw, be amortized, prorated, allocated and spread throughout the full term of the Secured Obligations until payment in full so that the rate or amount of interest on account of the Secured Obligations does not exceed the applicable usuryusury ceiling.

Compliance With Usury Law. It is expressly stipulated and agreed to be the intent intention of Trustor Borrower and Beneficiary Lender to comply at all times to comply with the applicable Nevada law governing the maximum rate or amount of interest payable on or in connection with the Secured Obligations Lender Note. Accordingly, if any of the transactions contemplated by or in connection with the Subject Documents or any other document or instrument would be usurious under applicable law now or hereafter governing the interest payable hereunder (or including applicable United States federal law or applicable state law, to the extent that it permits Beneficiary to contract for, charge, take, reserve or receive a greater amount of interest than under Nevada not preempted by United States federal law). If , then in that event, notwithstanding anything to the contrary in the Subject Documents or otherwise, it is agreed as follows: (a) the aggregate of all consideration that constitutes interest under applicable Governmental Rule law that is ever judicially interpreted so as to render usurious any amount called for under the Credit Documents, or contracted for, charged, taken, reserved reserved, or received under the Lender Note or any of the other Subject Documents or otherwise in connection with the Lender Note with respect to thereto under no circumstances shall exceed the extension maximum amount of credit evidenced interest allowed by the Credit Documents or if acceleration of the maturity of the Secured Obligations or if applicable law, and any prepayment by Trustor results in Trustor having paid any interest in excess of that permitted by Governmental Rule, then it is Trustor’s and Beneficiary’s express intent that all excess amounts theretofore collected by Beneficiary shall be credited on such Lender Note by the principal balance due under the Credit Documents holder thereof (or, or if the Credit Documents such shall have been or would thereby be paid in full, refunded to Trustorthe Borrower); and (b) in the event that maturity of the Lender Note is accelerated by reason of an election by the holder thereof resulting from any default hereunder or otherwise, or in the event of any required or permitted prepayment or conversion, then such consideration that constitutes interest may never include more than the maximum amount allowed by applicable law, and excess interest, if any, provided for in such Lender Note or otherwise shall be canceled automatically as of the date of such acceleration or prepayment and, if theretofore prepaid, shall be credited on such Lender Note (or if such Lender Note shall have been paid in full, refunded to Borrower), and the provisions of the Credit such Lender Note and any other Subject Documents or other document or instrument shall immediately be deemed reformed and the amounts thereafter collectible hereunder and thereunder reducedreduced accordingly, without the necessity of the execution of any new document, so as to comply with the then applicable Governmental Rule, but so as to permit the recovery law. Determination of the fullest amount otherwise called rate of interest for hereunder and thereunder. The right purposes of determining whether this transaction is usurious under any applicable laws, to accelerate maturity of Secured Obligations does not include the right to accelerate any interest which has not otherwise accrued on the date of such accelerationfull extent permitted by applicable law, shall be made by amortizing, prorating, allocating, and Beneficiary does not intend to collect spreading throughout the full stated term hereof until payment in full, all sums at any unearned interest in the event of acceleration. All sums paid time contracted for, charged, taken, reserved, or agreed to be paid to Beneficiary received from Borrower for the use, forbearance forbearance, or detention of the Secured Obligations shall, to money in connection herewith. To the extent that Chapter 303 of the Texas Finance Code is relevant to Lender for the purpose of determining the maximum rate of interest permitted by applicable Governmental Rulelaw, be amortized, prorated, allocated and spread throughout the full term of the Secured Obligations until payment in full so that the rate or amount of interest on account of the Secured Obligations does not exceed Lender hereby elects to determine the applicable usuryrate ceiling under such Chapter by the weekly ceiling from time to time in effect, subject to Lender's right subsequently to change such method in accordance with applicable law.