Common use of Lawful Interest Clause in Contracts

Lawful Interest. In no contingency or event whatsoever shall the interest rate charged pursuant to the terms of this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such a court determines that Lender has received interest hereunder in excess of the highest applicable rate, Lender shall promptly refund such excess interest to Borrower.

Appears in 7 contracts

Samples: Loan and Security Agreement (Elxsi Corp /De//), Loan and Security Agreement (Elxsi Corp /De//), Loan and Security Agreement (Elxsi Corp /De//)

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Lawful Interest. In no contingency or event whatsoever shall the interest rate charged pursuant to the terms of this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such a court determines that any Lender has received interest hereunder in excess of the highest applicable rate, such Lender shall promptly refund its Pro Rata Share of such excess interest to Borrower.

Appears in 3 contracts

Samples: Loan and Security Agreement (Decrane Aircraft Holdings Inc), Loan and Security Agreement (Unifrax Investment Corp), Loan and Security Agreement (Pioneer East Inc)

Lawful Interest. In no contingency or event whatsoever shall the interest rate charged pursuant to the terms of this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such a court determines that Lender has received interest hereunder in excess of the highest applicable rate, Lender shall promptly refund such excess interest to Borrower.Borrowers. NO

Appears in 1 contract

Samples: Loan and Security Agreement (CMC Industries Inc)

Lawful Interest. In no contingency or event whatsoever shall the interest rate charged pursuant to the terms of this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such a court determines that Lender the Bank has received interest hereunder in excess of the highest applicable rate, Lender the Bank shall promptly refund such excess interest to Borrowerthe Borrower as required by such court.

Appears in 1 contract

Samples: Credit Agreement (Buca Inc /Mn)

Lawful Interest. In no contingency or event whatsoever shall the interest rate charged pursuant to the terms of this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such a court determines that any Lender has received interest hereunder or under any Note in excess of the highest applicable lawful rate, such Lender shall promptly refund such excess interest to the applicable Borrower.

Appears in 1 contract

Samples: Loan Agreement (Executone Information Systems Inc)

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Lawful Interest. In no contingency or event --------------- whatsoever shall the interest rate charged pursuant to the terms of this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such a court determines that Lender the Bank has received interest hereunder in excess of the highest applicable rate, Lender the Bank shall promptly refund such excess interest to Borrowerthe Borrower as required by such court.

Appears in 1 contract

Samples: Credit Agreement (Buca Inc /Mn)

Lawful Interest. In no contingency or event whatsoever shall --------------- the interest rate charged pursuant to the terms of this Agreement exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such a court determines that Lender the Bank has received interest hereunder in excess of the highest applicable rate, Lender the Bank shall promptly refund such excess interest to Borrowerthe Borrower as required by such court.

Appears in 1 contract

Samples: Credit Agreement (Buca Inc /Mn)

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