Legal Rate. Notwithstanding anything in this Agreement or any Loan Document to the contrary, if at any time the interest rate applicable to the Notes, together with all fees and charges which are treated as interest under applicable law (collectively, the "Charges"), as provided for in this Agreement or in any other document executed in connection herewith, or otherwise contracted for, charged, received, taken or reserved by the Administrative Agent, on behalf of the Lenders, shall exceed the maximum lawful rate (the "Legal Rate") which may be contracted for, charged, taken, received or reserved by the Administrative Agent, on behalf of the Lenders in accordance with applicable law, the rate of interest payable under such Notes, together with all Charges payable, shall be limited to the Legal Rate and any interest or Charges not so charged, taken, received or reserved by Administrative Agent, on behalf of the Lenders at such time shall be spread, prorated or amortized over the term of such Notes to the fullest extent permitted by law.
Legal Rate. If, at any time, any of the aforesaid rates shall be finally determined by any court of competent jurisdiction, governmental agency or tribunal to exceed the maximum rate of interest permitted by any applicable laws, then, for such time as such rate would be deemed excessive, application thereof shall be suspended, and there shall be charged in lieu thereof the maximum rate of interest permissible under such laws.
Legal Rate. Notwithstanding anything in this Credit Agreement or any Loan Document to the contrary, if at any time the interest rate applicable to the Note, together with all fees and charges which are treated as interest under applicable law (collectively, the "Charges") as provided for in this Credit Agreement or in any other document executed in connection herewith, or otherwise contracted for, charged, received, taken or reserved by the Bank shall exceed the maximum lawful rate (the "Legal Rate") which may be contracted for, charged, taken, received or reserved by the Bank in accordance with applicable law, the rate of interest payable under such Note, together with all Charges payable, shall be limited to the Legal Rate and any interest or Charges not so charged, taken, received or reserved by the Bank at such time shall be spread, prorated or amortized over the term of such Note to be fullest extent permitted by law.
Legal Rate. It being the intention of Lender and Borrower to comply with the laws of the State of New York with regard to the rate of interest charged hereunder, it is agreed that, notwithstanding any provision to the contrary in this Agreement, the Note, the Mortgage, or any of the other Loan Document, no such provision, including without limitation any provision of this Agreement or the Note providing for the payment of interest or other charges, shall require the payment or permit the collection of any amount ("Excess Interest") in excess of the maximum amount of interest permitted by law to be charged for the use or detention, or the forbearance in the collection, of all or any portion of the indebtedness evidenced by the Note. If any Excess Interest is provided for, or is adjudicated to be provided for, in this Agreement, the Note, the Mortgage, or any of the other Loan Documents, then in such event:
Legal Rate. The limits imposed on Interest Payments by applicable usury laws.
Legal Rate. 116 ---------- SECTION 9.18 Additional Commitment.......................................
Legal Rate. 96 Exhibit A - Note Exhibit B - Transfer Supplement Exhibit C - Unleveraged Assets Information Schedule 4.17 - Real Property owned or leased by Borrower
Legal Rate. Notwithstanding anything to the contrary contained herein or in any other Note Document, if any time the interest rate payable under this Note, together with all fees and charges which are treated as interest under applicable law (collectively “Charges”), as provided in this Note or otherwise contracted for, charged, received, taken or reserved by Holder, shall exceed the maximum lawful rate (the “Legal Rate”) which may be contracted for, charged, received, taken or reserved by Holder in accordance with applicable law, the interest rate applicable to this Note, together with all Charges payable to Holder, shall be limited to the Legal Rate and any interest or Charges not so limited, taken, received or reserved by Holder at such time shall be spread, prorated or amortized over the term of this Note to the fullest extent permitted by applicable law.
Legal Rate. Notwithstanding anything in this Credit Agreement or any Loan Document to the contrary, if at any time the interest rate applicable to the Notes, together with all fees and charges which are treated as interest under applicable law (collectively, the "Charges"), as provided for in this Credit Agreement or in any other document executed in connection herewith, or otherwise con- 129 136 tracted for, charged, received, taken or reserved by Fleet Agent, on behalf of the Banks, shall exceed the maximum lawful rate (the "Legal Rate") which may be contracted for, charged, taken, received or reserved by Fleet Agent, on behalf of the Banks in accordance with applicable law, the rate of interest payable under such Notes, together with all Charges payable, shall be limited to the Legal Rate and any interest or Charges not so charged, taken, received or reserved by Fleet Agent, on behalf of the Banks at such time shall be spread, prorated or amortized over the term of such Notes to the fullest extent permitted by law. 130 137
Legal Rate. Notwithstanding anything to the contrary herein, no portion of any payment made hereunder that is treated as interest for purposes of any usury or other limitation on the rate of interest that may be charged shall exceed the maximum legal rate permitted under applicable law, and, if any such rate is found to exceed the maximum legal rate, Buyer shall be required to pay only the maximum legal rate. Exhibit 2.0100 Sample calculations of the Earnout Payment Example Year 1996 1996 --------- --------- Base margin 4.25 4.25 Example margin 6.25 6.75 Difference 2.00 2.50 2.00 0.50 --------- Earnout percentage 60% 60% 60% Earnout margin 1.20 1.20 0.40 --------- --------- --------- "Deemed Daily Refinery Capacity" 16,000 16,000 16,000 Number of days 366 365 365 Annual refinery capacity 5,840,000 5,840,000 5,840,000 ========= ========= ========= "Earnout Payment" 7,008,000 9,344,000 7,008,000 2,336,000 ========= ========= ========= ========= Exhibit 2.0200 Sample calculation of the net present value of an assumed hypothetical series of Earnout Payments Net Present 1997 1998 1999 2000 2001 2002 Value --------- --------- --------- --------- --------- ---- ------- Assumed "Earnout Payments"
