Common use of Limitation on Interest Rate Clause in Contracts

Limitation on Interest Rate. The obligations of Borrower hereunder and under the Notes shall be subject to the limitation that payments of interest to any Lender, plus any other amounts paid to such Lender in connection herewith and therewith, shall not be required, to the extent (but only to the extent) that contracting for or receiving such payment by such Lender would be contrary to the provisions of any law applicable to such Lender limiting the highest rate of interest which may be lawfully contracted for, charged or received by such Lender, and in such event Borrower shall pay such Lender interest and other amounts at the highest rate permitted by applicable law.

Limitation on Interest Rate. The obligations of Borrower hereunder and under the Notes shall be subject to the limitation that payments of interest to any Lenderinterest, plus any other amounts paid to such Lender in connection herewith and therewithherewith, shall not be required, to the extent (but only to the extent) that contracting for or receiving such payment by such Lender would be contrary to the provisions of any law applicable to such Lender limiting the highest rate of interest which may be lawfully contracted for, charged or received by such Lender, and in such event Borrower shall pay such Lender interest and other amounts at the highest rate permitted by applicable law.