Common use of Interest Rate Limitations Clause in Contracts

Interest Rate Limitations. Notwithstanding anything contained herein to the contrary, the obligation of the Borrower to make payments of interest shall be subject to the limitation that payments under the law or laws applicable to the Bank limiting rates of interest which may be charged or collected by the Bank. Any such payments of interest which are not made as a result at the limitation referred to in the preceding sentence shall be made by the Borrower to the Bank on the earliest payment date or dates on which the receipt thereof would be permissible under the laws applicable to the Bank limiting rates of interest which may be charged or collected by the Bank.

Interest Rate Limitations. Notwithstanding anything contained herein to the contrary, the obligation of the Borrower to make payments of interest shall be subject to the limitation that payments under the law or laws applicable to the Bank limiting rates of interest which may be charged or collected by the Bank. Any such payments of interest which are not made as a result at the limitation referred to in the preceding sentence shall be made by the Borrower to the Bank on the earliest payment date or dates on which the receipt thereof would be permissible under the laws applicable to the Bank limiting rates of interest which may be charged or collected by the Bank.