Common use of Limit on Interest Clause in Contracts

Limit on Interest. Anything herein or in the Note to the contrary notwithstanding, the obligations of the Borrower under this Agreement and the Note to the Creditor shall be subject to the limitation that payments of interest to the Creditor shall not be required to the extent that receipt of any such payment by the Creditor would be contrary to provisions of law applicable to the Creditor (if any) which limit the maximum rate of interest which may be charged or collected by the Creditor; provided however, that nothing herein shall be construed to limit the Creditor to presently existing maximum rates of interest, if any increased interest rate is hereafter permitted by reason of applicable federal or state legislation.

Appears in 7 contracts

Samples: Credit Agreement (Securitas EDGAR Filings, Inc.), Credit Agreement (Securitas EDGAR Filings, Inc.), Credit Agreement (Securitas EDGAR Filings, Inc.)

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Limit on Interest. Anything herein or in the Note to the contrary notwithstanding, the obligations of the Borrower Borrowers under this Agreement and the Note to the Creditor Lender shall be subject to the limitation that payments of interest to the Creditor Lender shall not be required to the extent that receipt of any such payment by the Creditor Lender would be contrary to provisions of law applicable to the Creditor Lender (if any) which limit the maximum rate of interest which may be charged or collected by the CreditorLender; provided however, that nothing herein shall be construed to limit the Creditor Lender to presently existing maximum rates of interest, if any increased interest rate is hereafter permitted by reason of applicable federal or state legislation.

Appears in 5 contracts

Samples: Credit Agreement (Elandia, Inc.), Credit Agreement (Forefront Holdings, Inc.), Credit Agreement (American Leisure Holdings Inc)

Limit on Interest. Anything herein or in the Note to the contrary notwithstanding, the obligations Obligations of the Borrower under this Agreement and the Note to the Creditor Lender shall be subject to the limitation that payments of interest to the Creditor Lender shall not be required to the extent that receipt of any such payment by the Creditor Lender would be contrary to provisions of law applicable to the Creditor Lender (if any) which limit the maximum rate of interest which may be charged or collected by the CreditorLender; provided however, that nothing herein shall be construed to limit the Creditor Lender to presently existing maximum rates of interest, if any increased interest rate is hereafter permitted by reason of applicable federal or state legislation.

Appears in 2 contracts

Samples: Credit Agreement (Elandia International Inc.), Credit Agreement (Elandia International Inc.)

Limit on Interest. Anything herein or in the Note to the contrary notwithstanding, the obligations of the Borrower Obligors under this Agreement and the Note to the Creditor Lender shall be subject to the limitation that payments of interest to the Creditor Lender shall not be required to the extent that receipt of any such payment by the Creditor Lender would be contrary to provisions of law applicable to the Creditor Lender (if any) which limit the maximum rate of interest which may be charged or collected by the CreditorLender; provided however, that nothing herein shall be construed to limit the Creditor Lender to presently existing maximum rates of interest, if any increased interest rate is hereafter permitted by reason of applicable federal or state legislation.

Appears in 1 contract

Samples: Credit Agreement (Elandia, Inc.)

Limit on Interest. Anything herein or in the Note Notes to the contrary notwithstanding, the obligations Obligations of the Borrower under this Agreement and the Note Notes to the Creditor Lender shall be subject to the limitation that payments of interest to the Creditor Lender shall not be required to the extent that receipt of any such payment by the Creditor Lender would be contrary to provisions of law applicable to the Creditor Lender (if any) which limit the maximum rate of interest which may be charged or collected by the CreditorLender; provided however, that nothing herein shall be construed to limit the Creditor Lender to presently existing maximum rates of interest, if any increased interest rate is hereafter permitted by reason of applicable federal or state legislation.

Appears in 1 contract

Samples: Credit Agreement (Elandia International Inc.)

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Limit on Interest. Anything herein or in the Note to the contrary notwithstanding, the obligations of the Borrower under this Agreement and the Note to the Creditor Lender shall be subject to the limitation that payments of interest to the Creditor Lender shall not be required to the extent that receipt of any such payment by the Creditor Lender would be contrary to provisions of law applicable to the Creditor Lender (if any) or the Borrower which limit the maximum rate of interest which may be charged or collected by the CreditorLender; provided provided, however, that nothing herein shall be construed to limit the Creditor Lender to presently existing maximum legal rates of interest, if any an increased interest rate is hereafter permitted by reason of applicable federal or state legislation.

Appears in 1 contract

Samples: Term Loan Agreement (Freds Inc)

Limit on Interest. Anything herein or in the Note to the ------------------- contrary notwithstanding, the obligations of the Borrower Borrowers under this Agreement and the Note to the Creditor Lender shall be subject to the limitation that payments of interest to the Creditor Lender shall not be required to the extent that receipt of any such payment by the Creditor Lender would be contrary to provisions of law applicable to the Creditor Lender (if any) which limit the maximum rate of interest which may be charged or collected by the CreditorLender; provided however, that nothing herein shall be construed to limit the Creditor Lender to presently existing maximum rates of interest, if any increased interest rate is hereafter permitted by reason of applicable federal or state legislation.

Appears in 1 contract

Samples: Credit Agreement (American Leisure Holdings, Inc.)

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