Common use of Limitation on Interest Payable Clause in Contracts

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture or any other Senior Secured Note Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, under any circumstances, fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, under any circumstances, Mortgagor shall have paid an amount of money which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 11 contracts

Samples: Mortgage (Progress Precision Inc.), Mortgage (Progress Precision Inc.), Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Progress Precision Inc.)

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Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage is a part. All agreements between the Mortgagor and Mortgagee or any Holderthe Mortgagee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by the Mortgagor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Document, related document or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note Document, related document exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances the Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to the Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by the Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 5 contracts

Samples: Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Jacobs Entertainment Inc), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Jacobs Entertainment Inc), Mortgage Agreement (Listerhill Total Maintenance Center LLC)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee or any Holderthe Mortgagee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note DocumentIndenture, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit or advancement of funds by Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 5 contracts

Samples: Mortgage, Assignment of Leases, Security Agreement and Fixture Filing (Blue Steel Capital Corp), Mortgage, Assignment of Leases, Security Agreement and Fixture Filing (Blue Steel Capital Corp), Mortgage, Assignment of Leases, Security Agreement and Fixture Filing (Blue Steel Capital Corp)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage Deed of Trust is a part. All agreements between Mortgagor the Grantor and Mortgagee or any Holderthe Beneficiary, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor the Grantor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Document, related document or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note Document, related document exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances the Grantor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagorthe Grantor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) the Beneficiary shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 5 contracts

Samples: Credit Line Deed of Trust (Jacobs Entertainment Inc), Credit Line Deed of Trust (Jacobs Entertainment Inc), Credit Line Deed of Trust (Jacobs Entertainment Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Pledge Agreement is a part. All agreements between Mortgagor Pledgor and Mortgagee or any HolderPledgee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor Pledgor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note DocumentIndenture, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances Pledgor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to MortgagorPledgor by the holders of the Notes. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit or advancement of funds by Mortgagee (or Holder) Marine Midland Bank, as trustee, shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Pledge Agreement until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 4 contracts

Samples: Share Pledge Agreement (Seven Seas Steamship Co Nv), Share Pledge Agreement (Seven Seas Steamship Co Nv), Share Pledge Agreement (Seven Seas Steamship Co Nv)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage is a part. All agreements between the Mortgagor and the Mortgagee or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by the Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement, and Hedging Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement, and Hedging Agreement or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances the Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to the Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by the Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 4 contracts

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

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Deed of Trust is a part. All agreements between Mortgagor Trustor and Mortgagee Beneficiary, or any HolderLender, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor Trustor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, under any circumstances, fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, under any circumstances, Mortgagor Trustor shall have paid an amount of money which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to MortgagorTrustor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee Beneficiary (or HolderLender) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Deed of Trust until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 4 contracts

Samples: Deed of Trust (Lakes Entertainment Inc), Deed of Trust (Lakes Entertainment Inc), Deed of Trust (Lakes Entertainment Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Deed of Trust is a part. All agreements between Mortgagor Trustor and Mortgagee Beneficiary, or any HolderLender, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor Trustor for the use, forbearance or detention of the money to be loaned under the Indenture Financing Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Financing Agreement or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, under any circumstances, fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, under any circumstances, Mortgagor Trustor shall have paid an amount of money which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to MortgagorTrustor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee Beneficiary (or HolderLender) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Deed of Trust until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 3 contracts

Samples: Deed of Trust (Lakes Entertainment Inc), Deed of Trust (Lakes Entertainment Inc), Deed of Trust (Lakes Entertainment Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Security Agreement is a part. All agreements between Mortgagor Grantor and Mortgagee or any HolderTrustee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor Grantor for the use, forbearance or detention of the money to be loaned or advanced under this Security Agreement, any other Security Document, the Indenture Notes, the Indenture, the Registration Rights Agreement, the Intercreditor Agreement or the Guarantees or any other Senior Secured Note Documentagreement or instrument relating to any of the foregoing, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note Documenttherein, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances Grantor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to MortgagorGrantor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit or advancement of funds by Mortgagee (Trustee or any Holder) , shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Security Agreement until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 3 contracts

Samples: Security Agreement (New Cf&i Inc), Security Agreement (New Cf&i Inc), Security Agreement (New Cf&i Inc)

Limitation on Interest Payable. It is the intention of ------------------------------ the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage is a part. All agreements between the Mortgagor and Mortgagee or any Holderthe Mortgagee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by the Mortgagor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Document, related document or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note Document, related document exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances the Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to the Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by the Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 3 contracts

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Raceland Truck Plaza & Casino LLC), Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Raceland Truck Plaza & Casino LLC), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Raceland Truck Plaza & Casino LLC)

Limitation on Interest Payable. It is the ------------------------------ intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage is a part. All agreements between the Mortgagor and Mortgagee or any Holderthe Mortgagee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by the Mortgagor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Document, related document or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note Document, related document exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances the Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to the Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by the Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 2 contracts

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Raceland Truck Plaza & Casino LLC), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Raceland Truck Plaza & Casino LLC)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage is a part. All agreements between the Mortgagor and the Mortgagee or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by the Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances the Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to the Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by the Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 2 contracts

Samples: Credit Agreement (Ionics Inc), Credit Agreement (SFBC International Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Deed of Trust is a part. All agreements between Mortgagor Trustor and Mortgagee Beneficiary, or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor Trustor for the use, forbearance or detention of the money to be loaned under the Indenture or any other Senior Secured Note Security Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note Security Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, under any circumstances, fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, under any circumstances, Mortgagor Trustor shall have paid an amount of money which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to MortgagorTrustor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee Beneficiary (or any Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Deed of Trust until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 2 contracts

Samples: Deed of Trust (Gsi Group Inc), Deed of Trust (Gsi Group Inc)

Limitation on Interest Payable. It is the intention ------------------------------ of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage is a part. All agreements between the Mortgagor and the Mortgagee or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by the Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement, any Interest Rate Protection Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement, any Interest Rate Protection Agreement or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances the Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to the Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by the Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 2 contracts

Samples: Mortgage Agreement (Applied Power Inc), Term Loan & Revolving Credit Mortgage (Applied Power Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee or any HolderLender, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, under any circumstances, fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, under any circumstances, Mortgagor shall have paid an amount of money which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holderany Lender) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 2 contracts

Samples: Subordinate Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Ascendia Brands, Inc.), Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Ascendia Brands, Inc.)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Deed to Secure Debt is a part. All agreements between Mortgagor Grantor and Mortgagee or any Holder, Beneficiary whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor Grantor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any other Senior Secured Note Documentrelated document, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances Grantor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to MortgagorGrantor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) Beneficiary shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Deed to Secure Debt until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 2 contracts

Samples: Credit Agreement (Carson Inc), Credit Agreement (Carson Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to all laws relating to the usury laws, whether state or federal, eligibility and rate of interest chargeable that are applicable to the transaction of which this Mortgage Agreement is a part. All agreements between Mortgagor Pledgor and Mortgagee or any HolderTrustee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor Pledgor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note DocumentIndenture, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, fulfillment circumstances whatsoever fulfilment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances Pledgor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to MortgagorPledgor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit or advancement of funds by Mortgagee (or Holder) Trustee shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Agreement until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Securities Pledge Agreement (Seven Seas Steamship Co Nv)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee Mortgagee, or any HolderLender, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, under any circumstances, fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, under any circumstances, Mortgagor shall have paid an amount of money which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holderany Lender) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Lakes Entertainment Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Agreement is a part. All agreements between Mortgagor each Pledgor and Mortgagee or any Holderthe Collateral Agent, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor the Pledgors for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note DocumentIndenture, exceed exceeds the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances any Pledgor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagorthe applicable Pledgor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit or advancement of funds by Mortgagee (United States Trust Company of New York, as trustee or Holder) collateral agent, shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Agreement until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Security Agreement (Rti Capital Corp)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee or any Holderthe Lenders, and between Mortgagor and the BV Borrower, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement, the Guaranty, or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement, the Guaranty, or any other Senior Secured Note Documentrelated document, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (Mortgagee, any of the Lenders or Holder) the BV Borrower shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Credit Agreement (American Standard Companies Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Agreement is a part. All agreements between Mortgagor Debtor and Mortgagee or any HolderLender, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor Debtor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture Loan Agreement or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note DocumentLoan Agreement, exceed exceeds the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances Debtor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to MortgagorDebtor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit or advancement of funds by Mortgagee (or Holder) Lender, shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Agreement until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.. [Signature Page Follows]

Appears in 1 contract

Samples: Subordinate Security Agreement (Keystone Consolidated Industries Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Pledge Agreement is a part. All agreements between Mortgagor each Pledgor and Mortgagee or any HolderPledgee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor such Pledgor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note DocumentIndenture, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances either Pledgor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagorsuch Pledgor by the holders of the Notes. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit or advancement of funds by Mortgagee HSBC Bank USA (or Holder) formerly known as Marine Midland Bank), as trustee, shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Pledge Agreement until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Share Pledge Agreement (Statia Terminals Group Nv)

Limitation on Interest Payable. It is the intention of ------------------------------ the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage Deed of Trust is a part. All agreements between Mortgagor the Grantors and Mortgagee or any Holderthe Beneficiary, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor the Grantors for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Document, related document or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note Document, related document exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances the Grantors shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagorthe Issuer. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) the Beneficiary shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Fee and Leasehold Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Raceland Truck Plaza & Casino LLC)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee or any HolderMortgagee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture any Debt Instrument or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note DocumentDebt Instrument, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations on a pro rata basis and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit or advancement of funds by Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Open End Mortgage (Republic Engineered Steels Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to all laws relating to the usury laws, whether state or federal, eligibility and rate of interest chargeable that are applicable to the transaction of which this Mortgage Debenture is a part. All agreements between Mortgagor Debtor and Mortgagee or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor Debtor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note DocumentIndenture, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, fulfillment circumstances whatsoever fulfilment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances Debtor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations hereby secured and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to MortgagorDebtor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit or advancement of funds by Mortgagee (or Holder) Holder shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Debenture until payment in full of the Senior Secured Note Obligations principal amount hereby secured so that the actual rate of interest on account of such principal amounts amount is uniform throughout the term hereof.

Appears in 1 contract

Samples: Fixed and Floating Charge Debenture (Seven Seas Steamship Co Nv)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage Deed of Trust is a part. All agreements between Mortgagor the Trustor and Mortgagee or any Holder, the Beneficiary whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor the Trustor for the use, forbearance or detention of the money to be loaned under the Indenture or any other Senior Secured Note Notes Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note Notes Document, exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances the Trustor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagorthe Trustor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) the Beneficiary shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Effective Date until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Deed of Trust (Great Wolf Lodge of Grapevine, LLC)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Agreement is a part. All agreements between Mortgagor each Pledgor and Mortgagee or any HolderTrustee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor such Pledgor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note DocumentIndenture, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances any Pledgor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagorsuch Pledgor by the holders of the Notes. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit or advancement of funds by Mortgagee (or Holder) Marine Midland Bank, as trustee, shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Agreement until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Securities Pledge and Security Agreement (Seven Seas Steamship Co Nv)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage is a part. All agreements between the Mortgagor and Mortgagee or any Holderthe Mortgagee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by the Mortgagor for the use, forbearance or detention of the money to be loaned or advanced under the Second Priority Indenture or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Second Priority Indenture or any other Senior Secured Note Document, related document exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances the Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to the Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by the Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Indenture (Trump Indiana Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage Deed of Trust is a part. All agreements between Mortgagor the Grantors and Mortgagee or any Holderthe Beneficiary, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor the Grantors for the use, forbearance or detention of the money to be loaned or advanced under the Indenture Credit Agreement or any other Senior Secured Note Document, related document or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any other Senior Secured Note Document, related document exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances the Grantors shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagorthe Borrower. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) the Beneficiary shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Deed of Trust (Jalou Cashs LLC)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture or any other Secured Senior Secured Note Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Secured Senior Secured Note Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, under any circumstances, fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, under any circumstances, Mortgagor shall have paid an amount of money which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Mortgage (Progress Precision Inc.)

Limitation on Interest Payable. It is the intention ------------------------------ of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Deed to Secure Debt is a part. All agreements between Mortgagor Grantor and Mortgagee or any Holder, Beneficiary whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor Grantor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any other Senior Secured Note Documentrelated document, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances Grantor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to MortgagorGrantor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) Beneficiary shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Deed to Secure Debt until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Term Loan and Revolving Credit Agreement (Carson Products Co)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee or any Holder, (and the Lenders) whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture Loan Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Loan Agreement or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, under any circumstances, Mortgagor shall have paid an amount of money which is deemed to be interest by applicable law, which and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) the Lenders shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Iron Age Corp)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage Deed of Trust is a part. All agreements between Mortgagor the Grantor and Mortgagee or any Holder, the Beneficiary whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor the Grantor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances the Grantor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagorthe Grantor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) the Beneficiary shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Credit Agreement (Ionics Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage Deed of Trust is a part. All agreements between Mortgagor the Grantor and Mortgagee or any Holder, the Beneficiary whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor the Grantor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances the Grantor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagorthe Grantor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) the Beneficiary shall, to the fullest extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Credit Agreement (Norcraft Companies Lp)

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Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Agreement is a part. All agreements between Mortgagor the Pledgors and Mortgagee or any Holder, the Collateral Agent whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor the Pledgors for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement, any Interest Rate Protection Agreement, the Hedging Agreements, the Cash Management Agreements or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement, any Interest Rate Protection Agreement, the Hedging Agreements, the Cash Management Agreements or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances the Pledgors shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagorthe Pledgors. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) the Collateral Agent shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Credit Agreement (Sola International Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage is a part. All agreements between the Mortgagor and Mortgagee or any Holderthe Mortgagee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by the Mortgagor for the use, forbearance or detention of the money to be loaned or advanced under the First Priority Indenture or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the First Priority Indenture or any other Senior Secured Note Document, related document exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances the Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to the Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by the Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Indenture (Trump Indiana Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage Agreement is a part. All agreements between Mortgagor the Pledgors and Mortgagee or any Holder, the Collateral Agent whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor the Pledgors for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement ,any Swap Contract, or any other Senior Secured Note Credit Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement, any Swap Contract, or any other Senior Secured Note Credit Document, exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances the Pledgors shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagorthe Pledgors. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) the Collateral Agent shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Security Agreement (Colony Rih Acquisitions Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly ex- pressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any other Senior Secured Note Documentrelated document, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Credit Agreement (General Automation Inc/Il)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee Mortgagee, or any HolderBuyer, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture or any other Senior Secured Note Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Notes or any other Senior Secured Note Transaction Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, under any circumstances, fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, under any circumstances, Mortgagor shall have paid an amount of money which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holderany Buyer) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Securities Purchase Agreement (Minrad International, Inc.)

Limitation on Interest Payable. It is the intention of ------------------------------ the parties to conform strictly to the usury laws, whether state State or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee or any Holder, (and the Lenders) whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any related document or other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Thermatrix Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee or any Holderthe Mortgagee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note DocumentIndenture, exceed the maximum amount permissible under applicable federal fed- eral or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit or advancement of funds by Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases, Security Agreement and Fixture Filing (Rti Capital Corp)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned under paid pursuant to the Indenture or any other Senior Secured Note Security Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Indenture, the Notes or any other Senior Secured Note Security Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Planet Hollywood International Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage is a part. All agreements between the Mortgagor and the Mortgagee or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by the Mortgagor for the use, forbearance or detention of the money to be loaned or advanced under the Second Priority Indenture or any other Senior Secured Note Document, related document or for the payment or performance of any covenant or obligation contained herein or in the Second Priority Indenture or any other Senior Secured Note Documentrelated document, exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances the Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to the Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by the Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Second Fee and Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Trump Indiana Inc)

Limitation on Interest Payable. It is the intention of ------------------------------ the parties to conform strictly to the usury laws, whether state State or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any related document or other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Mortgage, Security Agreement, Assignment of Rents and Leases and Fixture Filing (Thermatrix Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage is a part. All agreements between the Mortgagor and the Mortgagee or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by the Mortgagor for the use, forbearance or detention of the money to be loaned or advanced under the First Priority Indenture or any other Senior Secured Note Document, related document or for the payment or performance of any covenant or obligation contained herein or in the First Priority Indenture or any other Senior Secured Note Documentrelated document, exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances the Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to the Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by the Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: First Fee and Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Trump Indiana Inc)

Limitation on Interest Payable. It is the intention ------------------------------ of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage is a part. All agreements between the Mortgagor and Mortgagee or any Holderthe Mortgagee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by the Mortgagor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Document, related document or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note Document, related document exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances the Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to the Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by the Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Raceland Truck Plaza & Casino LLC)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Deed of Trust is a part. All agreements between Mortgagor Grantor and Mortgagee or any Holder, Beneficiary whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor Grantor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any other Senior Secured Note Documentrelated document, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances Grantor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to MortgagorGrantor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) Beneficiary shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Deed of Trust until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Credit Agreement (Tuesday Morning Corp/De)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Agreement is a part. All agreements between Mortgagor each Assignor and Mortgagee or any HolderAssignee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor each Assignor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note DocumentIndenture, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances any Assignor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagoreach Assignor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit or advancement of funds by Mortgagee (or Holder) Marine Midland Bank, as trustee, shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Agreement until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Fiduciary Assignment of Intangible Assets Agreement (Seven Seas Steamship Co Nv)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage Agreement is a part. All agreements between Mortgagor the Pledgors and Mortgagee or any Holder, the Collateral Agent whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor the Pledgors for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement, any Interest Rate Protection Agreement, the Hedging Agreements, the Cash Management Agreements or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement, any Interest Rate Protection Agreement, the Hedging Agreements, the Cash Management Agreements or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances the Pledgors shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagorthe Pledgors. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) the Collateral Agent shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Credit Agreement (Sola International Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage Agreement is a part. All agreements between Mortgagor the Pledgors and Mortgagee or any Holder, the Collateral Agent whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor the Pledgors for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement, any Interest Rate Protection Agreement, or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement, any Interest Rate Protection Agreement, or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances the Pledgors shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagorthe Pledgors. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) the Collateral Agent shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Security Agreement (Actuant Corp)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee Mortgagee, or any HolderLender, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture Financing Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Financing Agreement or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, under any circumstances, fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, under any circumstances, Mortgagor shall have paid an amount of money which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holderany Lender) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Lakes Entertainment Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage is a part. All agreements between the Mortgagor and the Mortgagee or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by the Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture Credit Agreement or any other Senior Secured Note Loan Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture Credit Agreement or any other Senior Secured Note Loan Document, exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances the Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to the Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by the Mortgagee (or Holder) shall, to the fullest extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage hereof until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Credit Agreement (Norcraft Companies, Inc.)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federalFederal, that are applicable to the transaction of which this Mortgage is a part. All agreements between the Mortgagor and the Mortgagee or any Holder, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by the Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture or any other Senior Secured Note Notes Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note Notes Document, exceed the maximum amount permissible under applicable federal Federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, circumstances the Mortgagor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to the Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by the Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Effective Date until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Open End Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Great Wolf Lodge of Grapevine, LLC)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state federal or federalstate, that are applicable to the transaction of which this Mortgage is a part. All agreements between Mortgagor and Mortgagee or any HolderMortgagee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor for the use, forbearance or detention of the money to be loaned under the Indenture Notes or any other Senior Secured Note Collateral Document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note Collateral Document, exceed the maximum amount permissible under applicable federal or state usury laws. If, under any circumstances, fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, under any circumstances, Mortgagor shall have paid an amount of money which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit by Mortgagee (or Holder) shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Indenture (Angiotech Pharmaceuticals Inc)

Limitation on Interest Payable. It is the intention of the parties to conform strictly to the usury laws, whether state or federal, that are applicable to the transaction of which this Mortgage Agreement is a part. All agreements between Mortgagor each Transferor and Mortgagee or any HolderTransferee, whether now existing or hereafter arising and whether oral or written, are hereby expressly limited so that in no contingency or event whatsoever shall the amount paid or agreed to be paid by Mortgagor each Transferor for the use, forbearance or detention of the money to be loaned or advanced under the Indenture or any other Senior Secured Note Documentrelated document, or for the payment or performance of any covenant or obligation contained herein or in the Indenture or any other Senior Secured Note DocumentIndenture, exceed the maximum amount permissible under applicable federal or state usury laws. If, If under any circumstances, circumstances whatsoever fulfillment of any such provision, at the time performance of such provision shall be due, shall involve exceeding the limit of validity prescribed by applicable law, then the obligation to be fulfilled shall be reduced to the limit of such validity. If, If under any circumstances, Mortgagor circumstances each Transferor shall have paid an amount of money deemed interest by applicable law, which is deemed to be interest and such interest would exceed the highest lawful rate, such amount that would be excessive interest under applicable usury laws shall be applied to the reduction of the principal amount owing in respect of the Senior Secured Note Obligations and not to the payment of interest, or if such excessive interest exceeds the unpaid balance of principal and any other amounts due hereunder, the excess shall be refunded to Mortgagoreach Transferor. All sums paid or agreed to be paid for the use, forbearance or detention of the principal under any extension of credit or advancement of funds by Mortgagee (or Holder) Marine Midland Bank, as trustee, shall, to the extent permitted by applicable law, and to the extent necessary to preclude exceeding the limit of validity prescribed by applicable law, be amortized, prorated, allocated and spread from the date of this Mortgage Agreement until payment in full of the Senior Secured Note Obligations so that the actual rate of interest on account of such principal amounts is uniform throughout the term hereof.

Appears in 1 contract

Samples: Fiduciary Transfer of Tangible Assets Agreement (Seven Seas Steamship Co Nv)

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