Common use of Excess Interest Clause in Contracts

Excess Interest. It is agreed that, notwithstanding any provision to the contrary in this Note, the Mortgage, or any of the other Loan Documents, no such provision shall require the payment or permit the collection of any amount ("Excess Interest") in excess of the maximum amount of interest permitted by law to be charged for the use or detention, or the forbearance in the collection, of all or any portion of the indebtedness evidenced by this Note. If any Excess Interest is provided for, or is adjudicated to be provided for, in this Note or any of the other Loan Documents, then in such event: (a) the provisions of this Section 9 shall govern and control; (b) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan shall be obligated to pay any Excess Interest; (c) any Excess Interest that Lender may have received hereunder shall, at the option of Xxxxxx, be (i) applied as a credit against the then outstanding principal balance (without payment of prepayment premium) due under this Note, accrued and unpaid interest thereon not to exceed the maximum amount permitted by law, or both, (ii) refunded to the payor thereof, or (iii) any combination of the foregoing; (d) the applicable interest rate or rates shall be automatically subject to reduction to the maximum lawful rate and this Note, the Mortgage, and the other Loan Documents shall be deemed to have been, and shall be, reformed and modified to reflect such reduction in such interest rate or rates; and (e) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan shall have any action or remedy against Lender for any damages whatsoever or any defense to enforcement of the Note, Mortgage or any of the other Loan Documents arising out of the payment or collection of any Excess Interest.

Excess Interest. It is agreed that, notwithstanding Notwithstanding any provision to the contrary contained herein or in this Note, the Mortgage, or any of the other Loan DocumentsDocument, no such provision shall require the payment or permit the collection of any amount ("Excess Interest") in excess of the maximum amount of interest permitted by applicable law to be charged for the use or detention, or the forbearance in the collection, of all or any portion of the indebtedness evidenced by Loans or other Obligations outstanding under this NoteAgreement or any other Loan Document ("Excess Interest"). If any Excess Interest is provided for, or is adjudicated to be provided for, herein or in this Note or any of the other Loan DocumentsDocument, then in such event: event (a) the provisions of this Section 9 shall govern and control; ; (b) neither Borrower the Company nor any of the other Persons required to pay any amounts with respect to the Loan guarantor or endorser shall be obligated to pay any Excess Interest; ; (c) any Excess Interest that the Administrative Agent or any Lender may have received hereunder shall, at the option of Xxxxxxthe Administrative Agent, be (i) applied as a credit against the then outstanding principal balance (without payment amount of prepayment premium) due under this NoteLoans hereunder, accrued and unpaid interest thereon (not to exceed the maximum amount permitted by applicable law) and any other Obligations, or both, all of the foregoing; (ii) refunded to the payor thereofCompany, or (iii) any combination of the foregoing; ; (d) the applicable interest rate payable hereunder or rates under any other Loan Document shall be automatically subject to reduction to the maximum lawful contract rate allowed under applicable usury laws, and this Note, the Mortgage, Agreement and the other Loan Documents shall be deemed to have been, and shall be, reformed and modified to reflect such reduction in such the relevant interest rate or ratesrate; and and (e) neither Borrower the Company nor any of the other Persons required to pay any amounts with respect to the Loan guarantor or endorser shall have any action against the Administrative Agent or remedy against any Lender for any damages whatsoever or any defense to enforcement of the Note, Mortgage or any of the other Loan Documents arising out of the payment or collection of any Excess Interest.

Excess Interest. It is agreed that, notwithstanding any provision to the contrary in this Agreement, the Note, the Mortgage, Mortgage or any of the other Loan Documents, no such provision shall require the payment or permit the collection of any amount ("Excess Interest") in excess of the maximum amount of interest permitted by law to be charged for the use or detention, or the forbearance in the collection, of all or any portion of the indebtedness evidenced by this the Note. If any Excess Interest is provided for, or is adjudicated to be provided for, in the Note, this Note Agreement or any of the other Loan Documents, then in such event: (ai) the provisions of this Section 9 2.8 shall govern and control; (bii) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan shall be obligated to pay any Excess Interest; (ciii) any Excess Interest that Lender may have received hereunder shall, at the option of XxxxxxLender, be (i) be applied as a credit against the then outstanding principal balance Outstanding Principal Balance (without payment of prepayment premium) due under this Notehereunder, accrued and unpaid interest thereon not to exceed the maximum amount permitted by law, or both, (ii) be refunded to the payor thereof, or (iii) any combination of the foregoing; (div) the applicable interest rate or rates shall be automatically subject to reduction to the maximum lawful rate and this Agreement, the Note, the Mortgage, Mortgage and the other Loan Documents shall be deemed to have been, and shall be, reformed and modified to reflect such reduction in such interest rate or rates; and (ev) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan shall have any action or remedy against Lender for any damages whatsoever whatsoever, or any defense to enforcement of this Agreement, the Note, the Mortgage or any of the other Loan Documents Documents, arising out of the payment or collection of any Excess Interest.

Excess Interest. It is agreed that, notwithstanding any provision to the contrary in this Agreement, the Note, the Mortgage, Mortgage or any of the other Loan Documents, no such provision shall require the payment or permit the collection of any amount ("Excess Interest") in excess of the maximum amount of interest permitted by law to be charged for the use or detention, or the forbearance in the collection, of all or any portion of the indebtedness evidenced by this the Note. If any Excess Interest is provided for, or is adjudicated to be provided for, in the Note, this Note Agreement or any of the other Loan Documents, then in such event: (a) the provisions of this Section 9 2.8 shall govern and control; (b) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan shall be obligated to pay any Excess Interest; (c) any Excess Interest that Lender may have received hereunder shall, at the option of XxxxxxLender, be (i) be applied as a credit against the then outstanding principal balance Outstanding Principal Balance (without payment of prepayment premium) due under this Notehereunder, accrued and unpaid interest thereon not to exceed the maximum amount permitted by law, or both, (ii) be refunded to the payor thereof, or (iii) any combination of the foregoing; (d) the applicable interest rate or rates shall be automatically subject to reduction to the maximum lawful rate and this Agreement, the Note, the Mortgage, Mortgage and the other Loan Documents shall be deemed to have been, and shall be, reformed and modified to reflect such reduction in such interest rate or rates; and (e) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan shall have any action or remedy against Lender for any damages whatsoever whatsoever, or any defense to enforcement of this Agreement, the Note, the Mortgage or any of the other Loan Documents Documents, arising out of the payment or collection of any Excess Interest.

Excess Interest. It is agreed that, notwithstanding any provision to the contrary in this Agreement, the Note, the Mortgage, Mortgage or any of the other Loan Documents, no such provision shall require the payment or permit the collection of any amount ("Excess Interest") in excess of the maximum amount of interest permitted by law to be charged for the use or detention, or the forbearance in the collection, of all or any portion of the indebtedness evidenced by this the Note. If any Excess Interest is provided for, or is adjudicated to be provided for, in the Note, this Note Agreement or any of the other Loan Documents, then in such event: : (ai) the provisions of this Section 9 2.8 shall govern and control; ; (bii) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan shall be obligated to pay any Excess Interest; ; (ciii) any Excess Interest that Lender may have received hereunder shall, at the option of XxxxxxLender, be (i) be applied as a credit against the then outstanding principal balance Outstanding Principal Balance (without payment of prepayment premium) due under this Notehereunder, accrued and unpaid interest thereon not to exceed the maximum amount permitted by law, or both, (ii) be refunded to the payor thereof, or (iii) any combination of the foregoing; ; (div) the applicable interest rate or rates shall be automatically subject to reduction to the maximum lawful rate and this Agreement, the Note, the Mortgage, Mortgage and the other Loan Documents shall be deemed to have been, and shall be, reformed and modified to reflect such reduction in such interest rate or rates; and and (ev) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan shall have any action or remedy against Lender for any damages whatsoever whatsoever, or any defense to enforcement of this Agreement, the Note, the Mortgage or any of the other Loan Documents Documents, arising out of the payment or collection of any Excess Interest.

Excess Interest. It being the intention of Lender and Borrower to comply with the laws of the State of New York with regard to the rate of interest charged hereunder, it is agreed that, notwithstanding any provision to the contrary in this Note, Note or the Mortgage, or any of the other Loan DocumentsPledge Agreement, no such provision shall require the payment or permit the collection of any amount ("Excess Interest") in excess of the maximum amount of interest permitted by law to be charged for the use or detention, or the forbearance in the collection, collection of all or any portion of the indebtedness evidenced by this Note. If any Excess Interest is provided for, or is adjudicated to be provided for, in this Note or any of the other Loan DocumentsPledge Agreement, then in such event: (a) the provisions of this Section 9 paragraph shall govern and control; (b) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan Obligors shall be obligated to pay any Excess Interest; (c) any Excess Interest that Lender may have received hereunder shall, at the option of XxxxxxLender, be (i) applied as a credit against either the then outstanding principal balance (without payment of prepayment premium) due under this Note, or the accrued and unpaid interest thereon not to exceed the maximum amount permitted by law, or both, ; (ii) refunded to the payor thereof, ; or (iii) any combination of the foregoing; (d) the applicable interest rate or rates shall be automatically subject to reduction to the maximum lawful rate allowed to be contracted for in writing under the applicable usury laws of the aforesaid State, and this Note, the Mortgage, Note and the other Loan Documents Pledge Agreement shall be deemed to have been, and shall be, reformed and modified to reflect such reduction in such interest rate or rates; and (e) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan Obligors shall have any action or remedy against Lender for any damages whatsoever or any defense to enforcement of the Note, Mortgage Note or any of the other Loan Documents Pledge Agreement arising out of the payment or collection of any Excess Interest.

Excess Interest. It being the intention of Lender and Borrower to comply with the laws of the State of New York with regard to the rate of interest charged hereunder, it is agreed that, notwithstanding any provision to the contrary in this Note, Note or the Mortgage, or any of the other Loan DocumentsAgreement, no such provision shall require the payment or permit the collection of any amount ("the “Excess Interest"”) in excess of the maximum amount of interest permitted by law to be charged for the use or detention, or the forbearance in the collection, of all or any portion of the indebtedness evidenced by this Note. If any Excess Interest is provided for, or is adjudicated to be provided for, in this Note or any of the other Loan DocumentsNote, then in such event: (a) the provisions of this Section 9 paragraph shall govern and control; (b) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan Obligors shall be obligated to pay any Excess Interest; (c) any Excess Interest that Lender may have received hereunder shall, at the option of XxxxxxLender, be (i) applied as a credit against the then outstanding principal balance (without payment of prepayment premium) Outstanding Principal Amount due under this Note, accrued and unpaid interest thereon not to exceed the maximum amount permitted by law, or both, (ii) refunded to the payor thereof, or (iii) any combination of the foregoing; (d) the applicable interest rate or rates shall be automatically subject to reduction to the maximum lawful rate allowed to be contracted for in writing under the applicable usury laws of the aforesaid State, and this Note, the Mortgage, Note and the other Loan Documents Agreement, shall be deemed to have been, and shall be, reformed and modified to reflect such reduction in such interest rate or rates; and (e) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan Obligors shall have any action or remedy against Lender for any damages whatsoever or any defense to enforcement of the Note, Mortgage Note or any of the other Loan Documents Agreement arising out of the payment or collection of any Excess Interest.

Excess Interest. It is agreed that, notwithstanding any provision to the contrary in this Note, the Mortgage, or any of the other Loan Documents, no such provision shall require the payment or permit the collection of any amount ("Excess Interest") in excess of the maximum amount of interest permitted by law ("Excess Interest") to be charged for the use or detention, or the forbearance in the collection, of all or any portion of the indebtedness evidenced by this Note. If any Excess Interest is provided for, or is adjudicated to be provided for, in this Note Note, or in any of the other Loan Documentsinstrument, then in such event: (a) the provisions of this Section 9 paragraph shall govern and control; (b) neither Borrower Obligor nor any of the other Persons required to pay any amounts with respect to the Loan Obligated Parties shall be obligated to pay any Excess Interest; (c) any Excess Interest that Lender Obligee may have received hereunder shall, at the option of XxxxxxObligee, be (i) applied as a credit against the then outstanding principal balance (without payment of prepayment premium) Outstanding Principal Balance due under this Note, accrued and unpaid interest thereon not to exceed the maximum amount permitted by law, or both, (ii) refunded to the payor thereof, or (iii) any combination of the foregoing; (d) the applicable interest rate or rates shall be automatically subject to reduction to the maximum lawful rate and this Note, the Mortgage, and the other Loan Documents Note shall be deemed to have been, and shall be, reformed and modified to reflect such reduction in such interest rate or rates; and (e) neither Borrower Obligor nor any of the other Persons required to pay any amounts with respect to the Loan Obligated Parties shall have any action or remedy against Lender Obligee for any damages whatsoever or any defense to enforcement of the Note, Mortgage or any of the other Loan Documents Note arising out of the payment or collection of any Excess Interest.

Excess Interest. It being the intention of Lender and Borrower to comply with the laws of the State of New York with regard to the rate of interest charged hereunder, it is agreed that, notwithstanding any provision to the contrary in this Note, the Mortgage, or any of the other Loan Documents, no such provision shall require the payment or permit the collection of any amount ("Excess Interest") in excess of the maximum amount of interest permitted by law to be charged for the use or detention, or the forbearance in the collection, collection of all or any portion of the indebtedness evidenced by this Note. If any Excess Interest is provided for, or is adjudicated to be provided for, in this Note or any of the other Loan DocumentsNote, then in such event: (a) the provisions of this Section 9 paragraph shall govern and control; (b) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan Obligors shall be obligated to pay any Excess Interest; (c) any Excess Interest that Lender may have received hereunder shall, at the option of XxxxxxLender, be (i) applied as a credit against either the then outstanding principal balance (without payment of prepayment premium) due under this Note, or the accrued and unpaid interest thereon not to exceed the maximum amount permitted by law, or both, ; (ii) refunded to the payor thereof, ; or (iii) any combination of the foregoing; (d) the applicable interest rate or rates shall be automatically subject to reduction to the maximum lawful rate allowed to be contracted for in writing under the applicable usury laws of the aforesaid State, and this Note, the Mortgage, and the other Loan Documents Note shall be deemed to have been, and shall be, reformed and modified to reflect such reduction in such interest rate or rates; and (e) neither Borrower nor any of the other Persons required to pay any amounts with respect to the Loan Obligors shall have any action or remedy against Lender for any damages whatsoever or any defense to enforcement of the Note, Mortgage or any of the other Loan Documents Note arising out of the payment or collection of any Excess Interest.