Common use of Interest; Limitation of Law Clause in Contracts

Interest; Limitation of Law. No provision herein or in any Loan Documents shall require the payment or permit the collection of interest in excess of the maximum permitted by Applicable Law. If, in any contingency whatsoever, the Administrative Lender or any Secured Party shall receive anything of value from the Pledgor deemed interest under Applicable Law which would exceed the maximum amount of interest permissible under Applicable Law, the provisions of the Credit Agreement shall govern.

Appears in 2 contracts

Samples: Credit Agreement (Sun Healthcare Group Inc), Pledge Agreement (Power One Inc)

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Interest; Limitation of Law. No provision herein or in any Loan Documents shall require the payment or permit the collection of interest in excess of the maximum permitted by Applicable Law. If, in any contingency whatsoever, the Administrative Lender Agent or any Secured Party shall receive anything of value from the Pledgor deemed interest under Applicable Law which would exceed the maximum amount of interest permissible under Applicable Law, the provisions of the Credit Agreement shall govern.

Appears in 1 contract

Samples: Credit Agreement (Sun Healthcare Group Inc)

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Interest; Limitation of Law. No provision herein or in any Loan --------------------------- Documents shall require the payment or permit the collection of interest in excess of the maximum permitted by Applicable Law. If, in any contingency whatsoever, the Administrative Lender or any Secured Party shall receive anything of value from the Pledgor deemed interest under Applicable Law which would exceed the maximum amount of interest permissible under Applicable Law, the provisions of the Credit Agreement shall governgovern to the same extent as if Pledgor were deemed to be the Borrower thereunder.

Appears in 1 contract

Samples: Parent Pledge Agreement (Kevco Inc)

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