Common use of Interest Recapture Clause in Contracts

Interest Recapture. If the designated interest rate applicable to any Loan exceeds the Maximum Rate, the interest rate on that Loan is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 12 contracts

Samples: Eighth Amended and Restated Credit Agreement (Vail Resorts Inc), Credit Agreement (Vail Resorts Inc), Credit Agreement (Vail Resorts Inc)

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Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the rate of interest rate on that Loan is such Borrowing shall be limited to the Maximum Rate, but any subsequent reductions in the such designated rate shall not reduce the rate of interest rate thereon below the Maximum Rate until the total amount of interest accrued interest thereon equals the amount of interest that which would have accrued thereon if that such designated rate had always at all times been in effect. If In the event that at maturity (stated or by acceleration), or at final payment of the NotesPrincipal Debt, the total amount of interest paid or accrued is less than the amount of interest that which would have accrued if the such designated rates had always at all times been in effect, then, at that such time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that which would have accrued if the such designated rates had always at all times been in effect and the amount of interest that which would have accrued if the Maximum Rate had always at all times been in effect, and (b) the amount of interest actually paid or accrued on the NotesPrincipal Debt.

Appears in 11 contracts

Samples: 364 Day Credit Agreement (Northern Border Partners Lp), Revolving Credit Agreement (Pier 1 Imports Inc/De), Credit Agreement (Dobson Communications Corp)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the rate of interest rate on that Loan is such Borrowing shall be limited to the Maximum Rate, but any subsequent reductions in the such designated rate shall not reduce the rate of interest rate thereon below the Maximum Rate until the total amount of interest accrued interest thereon equals the amount of interest that would have accrued thereon if that such designated rate had always at all times been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total amount of interest paid or accrued is less than the amount of interest that would have accrued if the such designated rates had always at all times been in effect, then, at that such time and to the extent permitted by Lawapplicable Governmental Requirements, the Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the such designated rates had always at all times been in effect and the amount of interest that would have accrued if the Maximum Rate had always at all times been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 10 contracts

Samples: Loan Agreement, Securitization Agreement, Loan Agreement (Lennar Corp /New/)

Interest Recapture. If the designated interest rate applicable to any Loan amount exceeds the Maximum Rate, the interest rate on that Loan amount is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawlawful, the Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 8 contracts

Samples: Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the rate of interest rate on that Loan is such Borrowing shall be limited to the Maximum Rate, but any subsequent reductions in the such designated rate shall not reduce the rate of interest rate thereon below the Maximum Rate until the total amount of interest accrued interest thereon equals the amount of interest that which would have accrued thereon if that such designated rate had always at all times been in effect. If In the event that at maturity (stated or by acceleration), or at final payment of the NotesPrincipal Debt, the total amount of interest paid or accrued is less than the amount of interest that which would have accrued if the such designated rates had always at all times been in effect, then, at that such time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser of LESSER OF the amount of interest that which would have accrued if the such designated rates had always at all times been in effect and AND the amount of interest that which would have accrued if the Maximum Rate had always at all times been in effect, and (b) the amount of interest actually paid or accrued on the NotesPrincipal Debt.

Appears in 8 contracts

Samples: Revolving Credit Agreement (Dobson Communications Corp), Credit Agreement (Dobson Sygnet Communications Co), 364 Day Revolving Credit and Term Loan Agreement (Dobson Communications Corp)

Interest Recapture. If the designated interest rate applicable to any Loan exceeds the Maximum Rate, the rate of interest rate on that such Loan is shall be limited to the Maximum Rate, but any subsequent reductions in the such designated rate shall not reduce the rate of interest rate thereon below the Maximum Rate until the total amount of interest accrued interest thereon equals the amount of interest that which would have accrued thereon if that such designated rate had always at all times been in effect. If In the event that at maturity (stated or by acceleration), or at final payment of the NotesPrincipal Debt, the total amount of interest paid or accrued is less than the amount of interest that which would have accrued if the such designated rates had always at all times been in effect, then, at that such time and to the extent permitted by Lawlaw, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that which would have accrued if the such designated rates had always at all times been in effect and the amount of interest that which would have accrued if the Maximum Rate had always at all times been in effect, and (b) the amount of interest actually paid or accrued on the NotesPrincipal Debt.

Appears in 7 contracts

Samples: Credit Agreement (Allied Capital Corp), Credit Agreement (Allied Capital Corp), Credit Agreement (Allied Capital Corp)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, then the interest rate on that Loan Borrowing is limited to the Maximum Rate, but provided that any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawapplicable law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 6 contracts

Samples: Credit Agreement (Prentiss Properties Trust/Md), Credit Agreement (American Industrial Properties Reit Inc), Credit Agreement (Prentiss Properties Trust/Md)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but but, to the extent permitted by applicable Laws, any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by applicable Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 6 contracts

Samples: Credit Agreement (Monro, Inc.), Credit Agreement (Monro Muffler Brake Inc), Credit Agreement (Monro Muffler Brake Inc)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, then the interest rate on that Loan Borrowing is limited to the Maximum Rate, but provided that any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that the designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawapplicable law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 6 contracts

Samples: Credit Agreement (Prentiss Properties Trust/Md), Credit Agreement (Prentiss Properties Trust/Md), Credit Agreement (Prentiss Properties Trust/Md)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, then the rate of interest rate on that Loan is such Borrowing shall be limited to the Maximum Rate, but any subsequent reductions in the such designated rate shall not reduce the rate of interest rate thereon below the Maximum Rate until the total amount of interest accrued interest thereon equals the amount of interest that which would have accrued thereon if that such designated rate had always at all times been in effect. If In the event that at maturity (stated or by acceleration), or at final payment of the NotesTotal Principal Debt, the total amount of interest paid or accrued is less than the amount of interest that which would have accrued if the such designated rates had always at all times been in effect, then, at that such time and to the extent permitted by Lawall Legal Requirements, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that which would have accrued if the such designated rates had always at all times been in effect and the amount of interest that which would have accrued if the Maximum Rate had always at all times been in effect, and (b) the amount of interest actually paid or accrued on the NotesTotal Principal Debt.

Appears in 5 contracts

Samples: Credit Agreement (Centex Corp), Credit Agreement (Centex Development Co Lp), Letter of Credit and Reimbursement Agreement (Centex Corp)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted not prohibited by Lawapplicable Governmental Requirements, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 4 contracts

Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Capital Inc)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 3 contracts

Samples: Credit Agreement (Goodrich Petroleum Corp), Credit Agreement (Affiliated Computer Services Inc), Credit Agreement (Affiliated Computer Services Inc)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted not prohibited by Lawapplicable Governmental Requirements, each Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 2 contracts

Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx)

Interest Recapture. If the designated interest rate applicable to any Loan amount exceeds the Maximum Rate, the interest rate on that Loan amount is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawlawful, Borrower shall pay an amount equal to the difference between (a) the lesser of either the amount of interest that would have accrued if the designated rates had always been in effect and or the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 2 contracts

Samples: Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan the Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawapplicable law, the Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 2 contracts

Samples: Credit Agreement (Vicorp Restaurants Inc), Credit Agreement (Vicorp Restaurants Inc)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, then the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by applicable Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Prologis Trust), Credit Agreement (Prologis Trust)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, effect and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 2 contracts

Samples: Credit Agreement (Goodrich Petroleum Corp), Credit Agreement (Goodrich Petroleum Corp)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by applicable Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 2 contracts

Samples: Credit Agreement (Security Capital Industrial Trust), Credit Agreement (Prologis Trust)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser LESSER of the amount of interest that would have accrued if the designated rates had always been in effect and AND the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 2 contracts

Samples: Credit Agreement (Pillowtex Corp), Credit Agreement (Magnetek Inc)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the NotesObligation, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted not prohibited by Lawapplicable Laws, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the NotesObligation.

Appears in 2 contracts

Samples: Credit Agreement (Ultrak Inc), Credit Agreement (Ultrak Inc)

Interest Recapture. If the designated interest rate applicable to any ------------------ Loan exceeds the Maximum Rate, the interest rate on that Loan is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 2 contracts

Samples: Credit Agreement (Vail Resorts Inc), Credit Agreement (Vail Resorts Inc)

Interest Recapture. If the designated interest rate applicable to ------------------ any Loan exceeds the Maximum Rate, the interest rate on that Loan is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 2 contracts

Samples: Credit Agreement (Vail Resorts Inc), Credit Agreement (Vail Resorts Inc)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted not prohibited by Lawapplicable Governmental Requirements, Borrower shall the Borrowers shall, on a joint and several basis, pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the applicable Notes.

Appears in 1 contract

Samples: Credit Agreement (PMC Commercial Trust /Tx)

Interest Recapture. If the designated interest rate applicable to any Loan amount exceeds the Maximum Rate, the interest rate on that Loan amount is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration)the Maturity Date, or at final payment of the Notesall outstanding Borrowings, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawlawful, the Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notesoutstanding Borrowings.

Appears in 1 contract

Samples: Term Credit Agreement (Teppco Partners Lp)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notesa Note, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, Borrower the maker of that Note shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notesthat Note.

Appears in 1 contract

Samples: Credit Agreement (Kaneb Pipe Line Partners L P)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawlawful, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Credit Agreement (Pier 1 Imports Inc/De)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, then the interest rate on that Loan Borrowing is limited to the Maximum Rate, but PROVIDED THAT any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawapplicable law, Borrower Borrowers shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Credit Agreement (Innkeepers Usa Trust/Fl)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the NotesTerm Loans, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, the Borrower shall pay an amount equal to 22 30 the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the NotesTerm Loans.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Computer Services Inc)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, then the interest rate on that Loan Borrowing is limited to the Maximum Rate, but provided that any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawapplicable law, Borrower Borrowers shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Credit Agreement (Innkeepers Usa Trust/Fl)

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Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if 21 CREDIT AGREEMENT 27 the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Computer Services Inc)

Interest Recapture. If the designated interest rate applicable to any Loan ------------------ Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.. Credit Agreement ----------------

Appears in 1 contract

Samples: Credit Agreement (Matrix Capital Corp /Co/)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the NotesTerm Loans, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, the Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the NotesTerm Loans.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Computer Services Inc)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, then the interest rate on that Loan Borrowing is limited to the Maximum Rate, but provided that any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawapplicable law, Borrower then Borrowers shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Credit Agreement (Innkeepers Usa Trust/Fl)

Interest Recapture. If the designated interest rate applicable to any Loan amount exceeds the Maximum Rate, the interest rate on that Loan amount is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If If, at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawlawful, the Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, effect and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Interest Recapture. If the designated interest rate applicable to any Loan exceeds the Maximum Rate, the interest rate on that Loan is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by applicable Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Credit Agreement (Nci Building Systems Inc)

Interest Recapture. If the designated interest rate applicable to any Loan Tranche exceeds the Maximum Rate, the interest rate on that Loan Tranche is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, effect and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Second Lien Term Loan Agreement (Goodrich Petroleum Corp)

Interest Recapture. If the designated interest rate applicable to any Loan Tranche exceeds the Maximum Rate, the interest rate on that Loan Tranche is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the NotesBorrowing, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, effect and (b) the amount of interest actually paid or accrued on the NotesBorrowing.

Appears in 1 contract

Samples: Second Lien Term Loan Agreement (Goodrich Petroleum Corp)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, then the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that the designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by applicable Law, the applicable Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Credit Agreement (Prologis Trust)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, then the interest rate on that Loan Borrowing is limited to the Maximum Rate, but provided than any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawapplicable law, Borrower Borrowers shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Credit Agreement (Innkeepers Usa Trust/Fl)

Interest Recapture. If the designated interest rate applicable to any Loan ------------------ Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notesany Note, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawapplicable Governmental Requirements, the Borrower or Borrowers obligated on that Note shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notesthat Note.

Appears in 1 contract

Samples: Credit Agreement (Trikon Technologies Inc)

Interest Recapture. If the designated interest rate applicable to any Loan ------------------ Borrowing exceeds the Maximum Rate, the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total 11 CREDIT AGREEMENT ---------------- interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Credit Agreement (Matrix Bancorp Capital Trust I)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan the Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawapplicable law, the Borrower shall pay an amount equal to the difference between between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Credit Agreement (Vicorp Restaurants Inc)

Interest Recapture. If the designated interest rate ------------------ applicable to any Loan exceeds the Maximum Rate, the interest rate on that Loan is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by applicable Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Credit Agreement (Morningstar Group Inc)

Interest Recapture. If the designated interest rate applicable to any ------------------ Loan exceeds the Maximum Rate, the interest rate on that Loan is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the NotesNote, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Law, Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the NotesNote.

Appears in 1 contract

Samples: Credit Agreement (Vail Resorts Inc)

Interest Recapture. If the designated interest rate applicable to any Loan Borrowing exceeds the Maximum Rate, the interest rate on that Loan the Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the NotesNote, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by Lawapplicable law, the Borrower shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the NotesNote.

Appears in 1 contract

Samples: Credit Agreement (Vicorp Restaurants Inc)

Interest Recapture. If the designated interest rate Contract Rate applicable to any Loan Borrowing exceeds the Maximum Rate, then the interest rate on that Loan Borrowing is limited to the Maximum Rate, but any subsequent reductions in the designated rate Contract Rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate Contract Rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, ) the total interest paid or AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT D-0601350.3 accrued is less than the interest that would have accrued if the designated rates Contract Rates had always been in effect, then, at that time and to the extent permitted by Lawlaw, Borrower Borrowers shall pay an amount equal to the difference between (a) the lesser of the amount of interest that would have accrued if the designated rates Contract Rates had always been in effect and the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the NotesNote.

Appears in 1 contract

Samples: Revolving Credit Agreement (Adams Golf Inc)

Interest Recapture. If the designated interest rate applicable to any Loan exceeds the Maximum Rate, the interest rate on that Loan is limited to the Maximum Rate, but any subsequent reductions in the designated rate shall not reduce the interest rate thereon below the Maximum Rate until the total amount of accrued interest equals the amount of interest that would have accrued if that designated rate had always been in effect. If at maturity (stated or by acceleration), or at final payment of the Notes, the total interest paid or accrued is less than the interest that would have accrued if the designated rates had always been in effect, then, at that time and to the extent permitted by applicable Law, Borrower shall pay an amount equal to the difference between (a) the lesser LESSER of the amount of interest that would have accrued if the designated rates had always been in effect and AND the amount of interest that would have accrued if the Maximum Rate had always been in effect, and (b) the amount of interest actually paid or accrued on the Notes.

Appears in 1 contract

Samples: Credit Agreement (Nci Building Systems Inc)

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