Common use of Limitation of Rate Clause in Contracts

Limitation of Rate. Notwithstanding any provision to the contrary contained in this Agreement, in no event shall the Default Rate, Non-default Rate, or Termination Rate exceed the Highest Lawful Rate. For purposes hereof, “Highest Lawful Rate” shall mean, with respect to each party, the maximum non-usurious interest rate, if any, that at any time or from time to time may be contracted for, taken, reserved, charged, or received on the subject indebtedness under the law applicable to such party which is presently in effect or, to the extent allowed by law, may hereafter be in effect and which allows a higher maximum non-usurious interest rate than applicable law presently allows.

Limitation of Rate. Notwithstanding any provision to the contrary contained in this Agreement, in In no event shall the Default Rate, Non-default Rate, Rate or the Termination Rate be permitted to exceed the Highest Lawful Rate. For purposes hereof, “"Highest Lawful Rate” " shall mean, with respect to each partyparty hereto, the maximum non-usurious nonusurious interest rate, if any, that at any time or from time to time may be contracted for, taken, reserved, charged, charged or received on the subject indebtedness under the law laws applicable to such party which is are presently in effect or, to the extent allowed by law, which under such applicable laws may hereafter be in effect and which allows allow a higher maximum non-usurious nonusurious interest rate than applicable law presently allowslaws now allow.

Limitation of Rate. Notwithstanding any provision to the contrary contained in this Agreement, in no event shall the Default Rate, Non-default Rate, or Termination Rate exceed the Highest Lawful Rate. For purposes hereof, “"Highest Lawful Rate” " shall mean, with respect to each party, the maximum non-usurious interest rate, if any, that at any time or from time to time may be contracted for, taken, reserved, charged, or received on the subject indebtedness under the law applicable to such party which is presently in effect or, to the extent allowed by law, may hereafter be in effect and which allows a higher maximum non-usurious interest rate than applicable law presently allows.