Common use of Interest Limitation Clause in Contracts

Interest Limitation. All agreements between Maker and Holder are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of the indebtedness evidenced hereby or otherwise, shall the amount paid or agreed to be paid to Holder for the use, forbearance, loaning or detention of the indebtedness evidenced hereby exceed the maximum permissible under applicable law (“Maximum Rate”). If from any circumstance whatsoever, fulfillment of any provision hereof at any time given the amount paid or agreed to be paid shall exceed the Maximum Rate permissible under applicable law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted by applicable law, and if from any circumstance Holder should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby and not to the payment of interest. This provision shall control every other provision of all agreements between Maker and Holder and shall be binding upon and available to any subsequent holder of this Note.

Appears in 4 contracts

Samples: Solar Development Agreement (Solar Power, Inc.), Ohana Security Agreement (Solar Power, Inc.), Solar Power, Inc.

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Interest Limitation. All agreements between Maker the Company and Holder the Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of this Agreement or the indebtedness evidenced hereby Note or otherwise, shall the amount paid or agreed to be paid to Holder the Lender for the use, forbearance, loaning or detention retention of the indebtedness evidenced hereby Advances secured by this Agreement exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance circumstances whatsoever, fulfillment of any provision provisions hereof or of the Note, or any other document securing this Agreement at any time given shall involve transcending the amount paid or agreed to be paid shall exceed the Maximum Rate permissible under applicable limit of validity prescribed by law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted by applicable lawof such validity, and if from any circumstance Holder circumstances the Lender should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby secured by the Note and not to the payment of interestinterest thereunder. This provision shall control every other provision of all agreements between Maker the Company and Holder Lender and shall also be binding upon and available to any subsequent holder of this the Note.

Appears in 3 contracts

Samples: Warehousing Credit and Security Agreement (Mortgage Com Inc), Warehousing Credit and Security Agreement (Mortgage Com Inc), Warehousing Credit and Security Agreement (Finet Com Inc)

Interest Limitation. All agreements between Maker Borrower and Holder Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of the indebtedness evidenced hereby hereby, the Note or otherwise, shall the amount paid or agreed to be paid to Holder Lender for the use, forbearance, loaning or detention of the indebtedness evidenced hereby hereby, the Note or otherwise exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance whatsoever, fulfillment of any provision hereof or any other Loan Document at any time given the amount paid or agreed to be paid shall exceed the Maximum Rate maximum permissible under applicable law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted permitted, by applicable law, and if from any circumstance Holder Lender should ever receive as interest an amount which would exceed the highest lawful rate of interest, interest such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby by the Note and not to the payment of interest. This provision shall control every other provision of all agreements between Maker Borrower and Holder Lender and shall be binding upon and available to any subsequent holder of this the Note.

Appears in 2 contracts

Samples: Loan Agreement (Merchants Bancorp), Loan Agreement (Merchants Bancorp)

Interest Limitation. All agreements between Maker the Borrowers and Holder the Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of this Agreement or the indebtedness evidenced hereby Note or otherwise, shall the amount paid or agreed to be paid to Holder the Lender for the use, forbearance, loaning or detention retention of the indebtedness evidenced hereby Advances secured by this Agreement exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance circumstances whatsoever, fulfillment of any provision provisions hereof or of the Note, or any other document securing this Agreement at any time given shall involve transcending the amount paid or agreed to be paid shall exceed the Maximum Rate permissible under applicable limit of validity prescribed by law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted by applicable lawof such validity, and if from any circumstance Holder circumstances the Lender should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby secured by the Note and not to the payment of interestinterest thereunder. This provision shall control every other provision of all agreements between Maker the Borrowers and Holder Lender and shall also be binding upon and available to any subsequent holder of this the Note.

Appears in 2 contracts

Samples: Warehousing Credit and Security Agreement (American Business Financial Services Inc /De/), Warehousing Credit and Security Agreement (BNC Mortgage Inc)

Interest Limitation. All agreements between Maker the Borrower and Holder the Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of the indebtedness evidenced hereby or otherwise, shall the amount paid or agreed to be paid to Holder the Lender for the use, forbearance, loaning or detention of the indebtedness evidenced hereby exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance circumstances whatsoever, fulfillment of any provision provisions hereof or of the Mortgage, the Assignment of Rents, or any other Loan Document at any time given the amount paid or agreed to be paid shall exceed the Maximum Rate maximum permissible under applicable law, then, then the obligation to be fulfilled shall automatically be reduced to the limit permitted by an amount which complies with applicable law, and if from any circumstance Holder circumstances the Lender should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby and not to the payment of interest. This provision shall control every other provision of all agreements between Maker the Borrower and Holder Lender and shall also be binding upon and available to any subsequent holder of this Note.

Appears in 2 contracts

Samples: Innovex Inc, Business Note (Innovex Inc)

Interest Limitation. All agreements between Maker the Company and Holder the Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of this Agreement or the indebtedness evidenced hereby Notes or otherwise, shall the amount paid or agreed to be paid to Holder the Lender for the use, forbearance, loaning or detention retention of the indebtedness evidenced hereby Advances secured by this Agreement exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance circumstances whatsoever, fulfillment of any provision provisions hereof or of the Notes, or any other document securing this Agreement at any time given shall involve transcending the amount paid or agreed to be paid shall exceed the Maximum Rate permissible under applicable limit of validity prescribed by law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted by applicable lawof such validity, and if from any circumstance Holder circumstances the Lender should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby secured by the Notes and not to the payment of interestinterest thereunder. This provision shall control every other provision of all agreements between Maker the Company and Holder Lender and shall also be binding upon and available to any subsequent holder of this Notethe Notes.

Appears in 2 contracts

Samples: Term Loan and Security Agreement (Accredited Home Lenders Holding Co), Term Loan and Security Agreement (Accredited Home Lenders Holding Co)

Interest Limitation. All agreements between Maker the Borrowers and Holder ------------------- the Lenders are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of this Agreement or the indebtedness evidenced hereby Notes or otherwise, shall the amount paid or agreed to be paid to Holder the Lenders for the use, forbearance, loaning or detention retention of the indebtedness evidenced hereby Advances exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance circumstances whatsoever, fulfillment of any provision hereof provisions hereof, of the Notes, or of any other document securing this Agreement at any time given shall involve transcending the amount paid or agreed to be paid shall exceed the Maximum Rate permissible under applicable limit of validity prescribed by law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted by applicable lawof such validity, and if from any circumstance Holder circumstances the Lenders should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby secured by the Notes and not to the payment of interestinterest thereunder. This provision shall control every other provision of all agreements between Maker the Borrowers and Holder Lenders and shall also be binding upon and available to any subsequent holder of this Notethe Notes.

Appears in 1 contract

Samples: Credit and Security Agreement (WMF Group LTD)

Interest Limitation. All agreements between Maker the Borrower and Holder the Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of the indebtedness evidenced hereby or otherwise, shall the amount paid or agreed to be paid to Holder the Lender for the use, forbearance, loaning or detention of the indebtedness evidenced hereby exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance circumstances whatsoever, fulfillment of any provision provisions hereof or of the Mortgage, Assignment of Leases or any other Security Document at any time given the amount paid or agreed to be paid shall exceed the Maximum Rate maximum permissible under applicable law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted by an amount which complies with applicable law, and if from any circumstance Holder circumstances the Lender should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby and not to the payment of interest. This provision shall control every other provision of all agreements between Maker the Borrower and Holder Lender and shall also be binding upon and available to any subsequent holder of this Note.

Appears in 1 contract

Samples: Commercial Assets Inc

Interest Limitation. All agreements between Maker the Company and Holder the Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of this Agreement or the indebtedness evidenced hereby Note or otherwise, shall the amount paid or agreed to be paid to Holder the Lender for the use, forbearance, loaning or detention retention of the indebtedness evidenced hereby Advances secured by this Agreement exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance circumstances whatsoever, fulfillment of any provision provisions hereof or of the Note, or any other document securing this Agreement at any time given shall involve transcending the amount paid or agreed to be paid shall exceed the Maximum Rate permissible under applicable limit of validity prescribed by law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted by applicable lawof such validity, and if from any circumstance Holder circumstances the Lexxx should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby secured by the Note and not to the payment of interestinterest thereunder. This provision shall control every other provision of all agreements between Maker the Company and Holder Lender and shall be also b e binding upon and available to any subsequent holder of this the Note.. 58

Appears in 1 contract

Samples: Credit and Security Agreement (U S Home Corp /De/)

Interest Limitation. All agreements between Maker the Borrower and Holder the Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of this Agreement or the indebtedness evidenced hereby Note or otherwise, shall the amount paid or agreed to be paid to Holder the Lender for the use, forbearance, loaning or detention retention of the indebtedness evidenced hereby Advances secured by this Agreement exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance circumstances whatsoever, fulfillment of any provision provisions hereof or of the Note, or any other document securing this Agreement at any time given shall involve transcending the amount paid or agreed to be paid shall exceed the Maximum Rate permissible under applicable limit of validity prescribed by law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted by applicable lawof such validity, and if from any circumstance Holder circumstances the Lender should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby secured by the Note and not to the payment of interestinterest thereunder. This provision shall control every other provision of all agreements between Maker the Borrower and Holder Lender and shall also be binding upon and available to any subsequent holder of this the Note.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (Bingham Financial Services Corp)

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Interest Limitation. All agreements between Maker the Borrowers and Holder the Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of this Agreement or the indebtedness evidenced hereby Notes or otherwise, shall the amount paid or agreed to be paid to Holder the Lender for the use, forbearance, loaning or detention retention of the indebtedness evidenced hereby Advances secured by this Agreement exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance circumstances whatsoever, fulfillment of any provision provisions hereof or of the Notes, or any other document securing this Agreement at any time given shall involve transcending the amount paid or agreed to be paid shall exceed the Maximum Rate permissible under applicable limit of validity prescribed by law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted by applicable lawof such validity, and if from any circumstance Holder circumstances the Lender should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby secured by the Notes and not to the payment of interestinterest thereunder. This provision shall control every other provision of all agreements between Maker the Borrowers and Holder Lender and shall also be binding upon and available to any subsequent holder of this Notethe Notes.

Appears in 1 contract

Samples: Credit and Security Agreement (WMF Group LTD)

Interest Limitation. All agreements between Maker the Borrower and Holder the Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of the indebtedness evidenced hereby or otherwise, shall the amount paid or agreed to be paid to Holder the Lender for the use, forbearance, loaning or detention of the indebtedness evidenced hereby exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance circumstances whatsoever, fulfillment of any provision provisions hereof or of the Loan Agreement, the Security Agreement or any other Loan Document at any time given the amount paid or agreed to be paid shall exceed the Maximum Rate maximum permissible under applicable law, then, then the obligation to be fulfilled shall automatically be reduced to the limit permitted by an amount which complies with applicable law, and if from any circumstance Holder circumstances the Lender should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby and not to the payment of interest. This provision shall control every other provision of all agreements between Maker the Borrower and Holder Lender and shall also be binding upon and available to any subsequent holder of this Note.

Appears in 1 contract

Samples: Aero Systems Engineering Inc

Interest Limitation. All agreements between Maker the Company and Holder the ------------------- Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of this Agreement or the indebtedness evidenced hereby Note or otherwise, shall the amount paid or agreed to be paid to Holder the Lender for the use, forbearance, loaning or detention retention of the indebtedness evidenced hereby Advances secured by this Agreement exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance circumstances whatsoever, fulfillment of any provision provisions hereof or of the Note, or any other document securing this Agreement at any time given shall involve transcending the amount paid or agreed to be paid shall exceed the Maximum Rate permissible under applicable limit of validity prescribed by law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted by applicable lawof such validity, and if from any circumstance Holder circumstances the Lender should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby secured by the Note and not to the payment of interestinterest thereunder. This provision shall control every other provision of all agreements between Maker the Company and Holder Lender and shall also be binding upon and available to any subsequent holder of this the Note.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (National Mortgage Corp)

Interest Limitation. All agreements between Maker Borrower and Holder Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of the indebtedness evidenced hereby or otherwise, shall the amount paid or agreed to be paid to Holder Lender for the use, forbearance, loaning or detention of the indebtedness evidenced hereby exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance whatsoever, fulfillment of any provision hereof or of the Mortgage, Assignment of Leases or any other Security Document or Loan Document at any time given the amount paid or agreed to be paid shall exceed the Maximum Rate maximum permissible under applicable law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted by applicable law, and if from any circumstance Holder Lender should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby and not to the payment of interest. This provision shall control every other provision of all agreements between Maker Borrower and Holder Lender and shall be binding upon and available to any subsequent holder of this Note.

Appears in 1 contract

Samples: Open End Mortgage, and Security Agreement (KVH Industries Inc \De\)

Interest Limitation. All agreements between Maker the Borrower and Holder the Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of this Agreement or the indebtedness evidenced hereby Debenture, the Lender's conversion of the Debenture, or otherwise, shall the amount paid or agreed to be paid to Holder the Lender for the use, forbearance, loaning lending, or detention retention of the indebtedness evidenced hereby Debenture Advances exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance circumstances whatsoever, fulfillment of any provision provisions hereof or of the Debenture or any other Convertible Debt Document at any time given shall involve transcending the amount paid or agreed to be paid shall exceed the Maximum Rate permissible under applicable limit of validity prescribed by law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted by applicable lawof such validity, and if from any circumstance Holder circumstances the Lender should ever receive as interest an amount which that would exceed the highest lawful rate of interest, such amount which that would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby of the Debenture and not to the payment of interestinterest thereunder. This provision shall control every other provision of all agreements between Maker the Borrower and Holder Lender and shall also be binding upon and available to any subsequent holder of this Notethe Debenture.

Appears in 1 contract

Samples: Loan and Security Agreement (Accredited Home Lenders Holding Co)

Interest Limitation. All agreements between Maker the Borrowers and Holder the ------------------- Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of maturity of this Agreement or the indebtedness evidenced hereby Note or otherwise, shall the amount paid or agreed to be paid to Holder the Lender for the use, forbearance, loaning or detention retention of the indebtedness evidenced hereby Advances secured by this Agreement exceed the maximum permissible under applicable law (“Maximum Rate”)law. If from any circumstance circumstances whatsoever, fulfillment of any provision provisions hereof or of the Note, or any other document securing this Agreement at any time given shall involve transcending the amount paid or agreed to be paid shall exceed the Maximum Rate permissible under applicable limit of validity prescribed by law, then, the obligation to be fulfilled shall automatically be reduced to the limit permitted by applicable lawof such validity, and if from any circumstance Holder circumstances the Lender should ever receive as interest an amount which would exceed the highest lawful rate of interest, such amount which would be in excess of such highest lawful rate of interest shall be applied to the reduction of the principal balance evidenced hereby secured by the Note and not to the payment of interestinterest thereunder. This provision shall control every other provision of all agreements between Maker the Borrowers and Holder Lender and shall also be binding upon and available to any subsequent holder of this the Note.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (Novastar Financial Inc)

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