Common use of Interest and Loan Charges Not to Exceed Clause in Contracts

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. Anything in this Agreement, the Note or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loan, acceleration of the maturity of the unpaid balance of the Loan or otherwise, shall the interest and loan charges agreed to be paid to Lender for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower in respect of the indebtedness evidenced by the Note shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note and/or refunded to Borrower so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note exceed the maximum amounts permitted from time to time by applicable law.

Appears in 5 contracts

Samples: Loan Agreement (American Consolidated Laboratories Inc), Loan Agreement (Factory Card Outlet Corp), Loan Agreement (Factory Card Outlet Corp)

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Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. Anything in this Agreement, Agreement or the Note or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loanloans made pursuant to this Agreement, acceleration of the maturity of the unpaid balance of the Loan loans or otherwise, shall the any interest and or loan charges agreed to be paid to Lender Quintiles for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower Variagenics in respect of the indebtedness evidenced by the Note Loan Documents shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or or loan charges shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender Quintiles that exceed exceeds such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note and/or or refunded to Borrower Variagenics so that at no time shall the any interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note exceed the maximum amounts permitted from time to time by applicable law.

Appears in 3 contracts

Samples: Marketing Alliance Agreement (Variagenics Inc), Marketing Alliance Agreement (Variagenics Inc), Marketing Alliance Agreement (Variagenics Inc)

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. Anything in this Agreement, the Note or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loan, acceleration of the maturity of the unpaid balance of the Loan or otherwise, shall the interest and loan other charges agreed to be paid to Lender for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower in respect of the indebtedness evidenced by the Note shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note and/or refunded to Borrower so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note exceed the maximum amounts permitted from time to time by applicable law.

Appears in 2 contracts

Samples: Loan Agreement (Online Resources & Communications Corp), Loan Agreement (Harolds Stores Inc)

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. Anything in this Agreement, the Note or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loan, acceleration of the maturity of the unpaid balance of the Loan or otherwise, shall the interest and loan charges agreed to be paid to Lender for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower Borrowers in respect of the indebtedness evidenced by the Note shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note and/or refunded to Borrower Borrowers so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note exceed the maximum amounts permitted from time to time by applicable law.

Appears in 2 contracts

Samples: Loan Agreement (Compass Plastics & Technologies Inc), Loan Agreement (Educational Medical Inc)

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. Anything in this Agreement, the Note Notes or any of the other Loan Investment Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loan, acceleration of the maturity of the unpaid balance of the Loan Notes or otherwise, shall the interest and loan other charges agreed to be paid to Lender WSCC for the use of the money any monies advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if If for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower Group in respect of the indebtedness evidenced by the Note Notes shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender WSCC that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note Notes and/or refunded to Borrower Group so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note Notes exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Master Agreement (Netplex Group Inc)

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. -------------------------------------------------------------- Anything in this Agreement, the Note Notes or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loan, acceleration of the maturity of the unpaid balance of the Loan or otherwise, shall the interest and loan charges agreed to be paid to Lender for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower in respect of the indebtedness evidenced by the Note Notes shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall ---------- be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note Notes and/or refunded to Borrower so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note Notes exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Loan Agreement (Check Into Cash Inc)

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. Anything in this Agreement, the Note Note, the Security Instruments or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loanloan made pursuant to this Agreement, acceleration of the maturity of the unpaid balance of the Loan loan or otherwise, shall the interest and loan charges agreed to be paid to Lender for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower in respect of the indebtedness evidenced by the Note shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note and/or refunded to Borrower so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Senior Subordinated Loan and Security Agreement (Waste Industries Inc)

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. Anything in this Agreement, the Note Debenture, the Security Instruments or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loanloan made pursuant to this Agreement, acceleration of the maturity of the unpaid balance of the Loan loan or otherwise, shall the interest and loan charges agreed to be paid to Lender for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower in respect of the indebtedness evidenced by the Note Debenture shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note Debenture and/or refunded to Borrower so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note Debenture exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Loan Agreement (Interactive Magic Inc /Md/)

Interest and Loan Charges Not to Exceed. Maximum Allowed by LawMAXIMUM ALLOWED BY LAW. Anything in this Agreement, the Note Notes, the Security Instruments or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the LoanLoans, acceleration of the maturity of the unpaid balance of the Loan Loans or otherwise, shall the interest and loan charges other consideration agreed to be paid to Lender for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges other consideration paid or contracted to be paid by Borrower Borrowers in respect of the indebtedness evidenced by the Note Notes shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso factoIPSO FACTO, the obligation to pay such interest and/or loan charges and other consideration shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note and/or Notes or refunded to Borrower Borrowers, in Lender's sole discretion, so that at no time shall the interest or loan charges and other consideration paid or payable in respect of the indebtedness evidenced by the Note Notes exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Loan and Security Agreement (Tava Technologies Inc)

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. Anything in this Agreement, the Note Notes, or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loan, acceleration of the maturity of the unpaid balance of the Loan or otherwise, shall the interest and loan charges agreed to be paid to Lender Lenders for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower in respect of the indebtedness evidenced by the Note Notes shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender Lenders that exceed such maximum amounts shall be applied by such Lender to the reduction of the principal balance of the indebtedness evidenced by the Note Notes held by such Lender and/or refunded to Borrower Borrower, at the option of such Lender, so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note Notes exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Loan Agreement (Dynagen Inc)

Interest and Loan Charges Not to Exceed. Maximum Amounts Allowed by Law. Anything in this Agreement, the Note Notes, the Security Instruments or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the LoanLoans, acceleration of the maturity of the unpaid balance of the Loan Loans or otherwise, shall the interest and loan charges agreed to be paid to Lender for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower in respect of the indebtedness evidenced by the Note Loans shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note Loans and/or refunded to Borrower so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note Loans exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Loan and Security Agreement (Forward Air Corp)

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Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. -------------------------------------------------------------- Anything in this Agreement, the Note or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loan, acceleration of the maturity of the unpaid balance of the Loan or otherwise, shall the interest and loan charges agreed to be paid to Lender for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower in respect of the indebtedness evidenced by the Note shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, ---------- the obligation to pay such interest and/or loan charges shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note and/or refunded to Borrower so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Loan Agreement (Radiant Systems Inc)

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. -------------------------------------------------------------- Anything in this Agreement, the Note Notes or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loan, acceleration of the maturity of the unpaid balance of the Loan or otherwise, shall the interest and loan other charges agreed to be paid to Lender Lenders for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower in respect of the indebtedness evidenced by the Note Notes shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall ---------- be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender Lenders that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note Notes and/or refunded to Borrower so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note Notes exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Loan and Security Agreement (Act Teleconferencing Inc)

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. Anything in this Agreement, the Note Note, the Security Instruments or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loan, acceleration of the maturity of the unpaid balance of the Loan said loans or otherwise, shall the interest and loan charges agreed to be paid to Lender for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower in respect of the indebtedness evidenced by the Note shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender that exceed such maximum amounts shall be applied to the reduction of the principal balance balance(s) of the indebtedness evidenced by the Note and/or refunded to Borrower so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Loan and Security Agreement (Radio Systems Corp)

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. Anything in this Agreement, the Note Put Notes, or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loan, acceleration of the maturity of the unpaid balance of the Loan Obligations or otherwise, shall the interest and loan charges agreed to be paid to Lender Lenders for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower in respect of the indebtedness evidenced by the Note Put Notes shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender Lenders that exceed such maximum amounts shall be applied by such Lender to the reduction of the principal balance of the indebtedness evidenced by the Note Put Notes held by such Lender and/or refunded to Borrower Borrower, at the option of such Lender, so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note Put Notes exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Credit Agreement (Dynagen Inc)

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. Anything in this Agreement, the Note Notes or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loan, acceleration of the maturity of the unpaid balance of the Loan or otherwise, shall the interest and loan other charges agreed to be paid to Lender Lenders for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower Obligors in respect of the indebtedness evidenced by the Note shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender Lenders that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note Notes and/or refunded to Borrower Obligors so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note Notes exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Loan Agreement (Sb Merger Corp)

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. --------------------------------------------------------------- Anything in this Agreement, the Note or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loan, acceleration of the maturity of the unpaid balance of the Loan or otherwise, shall the interest and loan charges agreed to be paid to Lender for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges paid or contracted to be paid by Borrower Debtor Parties in respect of the indebtedness evidenced by the Note shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges shall ---- ------ be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note and/or refunded to Borrower Debtor Parties so that at no time shall the interest or loan charges paid or payable in respect of the indebtedness evidenced by the Note exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Loan Agreement (Master Graphics Inc)

Interest and Loan Charges Not to Exceed. Maximum Allowed by Law. Anything in this Agreement, the Note Note, the Security Instruments or any of the other Loan Documents to the contrary notwithstanding, in no event whatsoever, whether by reason of advancement of proceeds of the Loan, acceleration of the maturity of the unpaid balance of the Loan or otherwise, shall the interest and loan charges other consideration agreed to be paid to Lender for the use of the money advanced or to be advanced hereunder exceed the maximum amounts collectible under applicable laws in effect from time to time. It is understood and agreed by the parties that, if for any reason whatsoever the interest or loan charges other consideration paid or contracted to be paid by Borrower in respect of the indebtedness evidenced by the Note shall exceed the maximum amounts collectible under applicable laws in effect from time to time, then ipso facto, the obligation to pay such interest and/or loan charges and other consideration shall be reduced to the maximum amounts collectible under applicable laws in effect from time to time, and any amounts collected by Lender that exceed such maximum amounts shall be applied to the reduction of the principal balance of the indebtedness evidenced by the Note and/or or refunded to Borrower Borrower, in Lender's sole discretion, so that at no time shall the interest or loan charges and other consideration paid or payable in respect of the indebtedness evidenced by the Note exceed the maximum amounts permitted from time to time by applicable law.

Appears in 1 contract

Samples: Loan Agreement (Interactive Magic Inc /Md/)

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