Common use of Limitation of Interest Clause in Contracts

Limitation of Interest. It is the intent of Trustor and Beneficiary in the execution of this Deed of Trust and the Loan Instruments and all other instruments securing the Note to contract in strict compliance with the laws of the State of Utah governing the obligations evidenced by the Loan Instruments. In furtherance thereof, Beneficiary and Trustor stipulate and agree that none of the terms and provisions contained in the Loan Instruments shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws of the State of Utah governing the loan evidenced by the Note. Trustor, or any guarantor, endorser or other party now or hereafter becoming liable for the payment of the Indebtedness, shall never be liable for unearned interest on the Indebtedness and shall never be required to pay interest on the Indebtedness at a rate in excess of the maximum interest that may be lawfully charged under the laws of the State of Utah and the provisions of this Section shall control over all other provisions of the Loan Instruments and any other document executed in connection herewith which may be in apparent conflict herewith. In the event any holder of all or any portion of the Indebtedness shall collect monies which are deemed to constitute interest which would otherwise increase the effective interest rate on all or a portion of the Indebtedness to a rate in excess of that permitted to be charged by the laws of the State of Utah, all such sums deemed to constitute interest in excess of the legal rate shall be immediately returned to the Trustor upon such determination, or at the election of Beneficiary may be applied to principal, if said principal has not otherwise been paid.

Limitation of Interest. It is the intent of Trustor Borrower and Beneficiary Lender in the execution of this Deed of Trust and the Loan Instruments Mortgage and all other instruments securing the Note Loan Documents to contract in strict compliance with the usury laws of the State of Utah governing the obligations evidenced by the Loan InstrumentsLoan. In furtherance thereof, Beneficiary Lender and Trustor Borrower stipulate and agree that none of the terms and provisions contained in the Loan Instruments Documents shall ever be construed to create a contract for the use, forbearance forbearance, or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws of the State of Utah governing the loan evidenced by the NoteLoan. Trustor, Borrower or any guarantor, endorser or other party now or hereafter becoming liable for the payment of the Indebtedness, Note shall never be liable for unearned interest on the Indebtedness Note and shall never be required to pay interest on the Indebtedness Note at a rate in excess of the maximum interest that may be lawfully charged under the laws of governing the State of Utah Loan evidenced by the Note, and the provisions of this Section paragraph shall control over all other provisions of the Loan Instruments Note and any other document instrument executed in connection herewith which may be in apparent conflict herewith. In the event any holder of all or any portion of the Indebtedness Note shall collect monies which that are deemed to constitute interest which and that would otherwise increase the effective interest rate on all or a portion of the Indebtedness Note to a rate in excess of that permitted to be charged by the laws of governing the State of UtahLoan evidenced by the Note, all such sums deemed to constitute interest in excess of the legal rate shall be applied to the unpaid principal balance of the Note and if in excess of such balance, shall be immediately returned to the Trustor Borrower upon such determination, or at the election of Beneficiary may be applied to principal, if said principal has not otherwise been paid.

Limitation of Interest. It is the intent of Trustor TRUSTOR and Beneficiary BENEFICIARY in the execution of this Deed of Trust and the Loan Instruments TRUST DEED and all other instruments securing the Note Loan Documents to contract in strict compliance with the usury laws of the State of Utah California governing the obligations loan evidenced by the Loan InstrumentsNote. In furtherance thereof, Beneficiary BENEFICIARY and Trustor TRUSTOR stipulate and agree that none of the terms and provisions contained in the Loan Instruments Documents shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws of the State of Utah California governing the loan evidenced by the Note. Trustor, TRUSTOR or any guarantor, endorser or other party now or hereafter becoming liable for the payment of the Indebtedness, Note shall never be liable for unearned interest on the Indebtedness Note and shall never be required to pay interest on the Indebtedness Note at a rate in excess of the maximum interest that may be lawfully charged under the laws of the State of Utah California, and the provisions of this Section Paragraph shall control over all other provisions of the Loan Instruments Note and any other document instrument executed in connection herewith which may be in apparent conflict herewith. In the event any holder of all or any portion of the Indebtedness Note shall collect monies which that are deemed to constitute interest which and that would otherwise increase the effective interest rate on all or a portion of the Indebtedness Note to a rate in excess of that permitted to be charged by the laws of the State of UtahCalifornia, all such sums deemed to constitute interest in excess of the legal rate shall be immediately returned applied to the Trustor upon such determinationreduction of the unpaid principal balance and not to the payment of interest, or as otherwise provided for in the Note, at the election discretion of Beneficiary may be applied to principal, if said principal has not otherwise been paidBENEFICIARY.

Limitation of Interest. It is the intent of Trustor Mortgagor and Beneficiary Mortgagee in the execution of this Deed of Trust and the Loan Instruments Mortgage and all other instruments securing the Note Loan Documents to contract in strict compliance with the usury laws of the State of Utah governing the obligations Secured Indebtedness evidenced by the Loan InstrumentsDocuments. In furtherance thereof, Beneficiary Mortgagor and Trustor Mortgagee stipulate and agree that none of the terms and provisions contained in the Loan Instruments Documents shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws of the State of Utah governing the loan evidenced by Loan Documents evidencing the NoteSecured Indebtedness. Trustor, Mortgagor or any guarantor, endorser or other party now or hereafter becoming liable for the payment of the Indebtedness, shall never be liable for unearned interest on the Secured Indebtedness and shall never be required to pay interest on the Secured Indebtedness at a rate in excess of the maximum interest that may be lawfully charged under the laws of governing the State of Utah Loan Documents evidencing the Secured Indebtedness, and the provisions of this Section shall control over all other provisions of the Credit Agreement, the Note Agreement, the Notes, the A-Advanced Guaranty and the other Loan Instruments Documents and any other document instrument executed in connection herewith which may be in apparent conflict herewith. In the event the Collateral Agent, any Lender, or any other holder of all or any portion of the Secured Indebtedness shall collect monies which that are deemed to constitute interest which and that would otherwise increase the effective interest rate on all or a portion of the Secured Indebtedness to a rate in excess of that permitted to be charged by the laws of the State of Utahusury laws, all such sums deemed to constitute interest in excess of the legal rate shall be immediately returned to applied in accordance with the Trustor upon such determination, or at provisions of the election of Beneficiary may be applied to principal, if said principal has not otherwise been paidCredit Agreement.

Limitation of Interest. It is the intent of Trustor Borrower and Beneficiary Lender in the execution of this Deed of Trust Mortgage and the Loan Instruments Note and all other instruments securing the Note to contract in strict compliance with the usury laws of the State Commonwealth of Utah Massachusetts governing the obligations loan evidenced by the Loan InstrumentsNote. In furtherance thereof, Beneficiary Lender and Trustor Borrower stipulate and agree that none of the terms and provisions contained in the Loan Instruments Documents shall ever be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the maximum interest rate permitted to be charged by the laws of the State Commonwealth of Utah Massachusetts governing the loan evidenced by the Note. Trustor, Borrower or any guarantor, endorser or other party now or hereafter becoming liable for the payment of the Indebtedness, Note shall never be liable for unearned interest on the Indebtedness Note and shall never be required to pay interest on the Indebtedness Note at a rate in excess of the maximum interest that may be lawfully charged under the laws of the State Commonwealth of Utah Massachusetts and the provisions of this Section shall control over all other provisions of the Loan Instruments Note and any other document instrument executed in connection herewith which may be in apparent conflict herewith. In the event any holder of all or any portion of the Indebtedness Note shall collect monies which are deemed to constitute interest which would otherwise increase the effective interest rate on all or a portion of the Indebtedness to a rate in excess of that the maximum rate permitted to be charged by the laws of the State Commonwealth of UtahMassachusetts, all such sums deemed to constitute interest in excess of the legal rate shall be immediately returned to the Trustor Borrower upon such determination, or at the election of Beneficiary may be applied to principal, if said principal has not otherwise been paid.