Common use of Maximum Amount Limitation Clause in Contracts

Maximum Amount Limitation. Anything in the MLA, this First Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Note, be either refunded to the Borrower, or credited on the principal of the Construction Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 4 contracts

Samples: Master Loan Agreement (Central Iowa Energy, LLC), Master Loan Agreement (US BioEnergy CORP), Master Loan Agreement (US BioEnergy CORP)

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Maximum Amount Limitation. Anything in the MLA, this First Second Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Term Revolving Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Term Revolving Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Second Supplement, the Construction Term Revolving Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Second Supplement, the Construction Term Revolving Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Second Supplement, the Construction Term Revolving Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Term Revolving Note, be either refunded to the Borrower, or credited on the principal of the Construction Term Revolving Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Term Revolving Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Term Revolving Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 3 contracts

Samples: Master Loan Agreement (Homeland Energy Solutions LLC), Master Loan Agreement (Homeland Energy Solutions LLC), Master Loan Agreement (Homeland Energy Solutions LLC)

Maximum Amount Limitation. Anything in the MLAthis Agreement, this First any Supplement, any Note, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLAthis Agreement, this First any Supplement, the Construction any Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction its Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section Section 2.11 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.11 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 3 contracts

Samples: Master Loan Agreement (US BioEnergy CORP), Master Loan Agreement (US BioEnergy CORP), Master Loan Agreement (Heron Lake BioEnergy, LLC)

Maximum Amount Limitation. Anything in the this MLA, this First Fifth Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Revolving Line of Credit Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Revolving Line of Credit Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Fifth Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Fifth Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Fifth Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Revolving Line of Credit Note, be either refunded to the Borrower, or credited on the principal of the Construction Revolving Line of Credit Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Revolving Line of Credit Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Revolving Line of Credit Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 3 contracts

Samples: Master Loan Agreement (Heron Lake BioEnergy, LLC), Master Loan Agreement (Heron Lake BioEnergy, LLC), Master Loan Agreement (Heron Lake BioEnergy, LLC)

Maximum Amount Limitation. Anything in the MLAthis Agreement, this First any Supplement, any Note, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLAthis Agreement, this First any Supplement, the Construction any Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction its Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section Section 2.13 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.13 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 3 contracts

Samples: Master Loan Agreement (Central Iowa Energy, LLC), Master Loan Agreement (Central Iowa Energy, LLC), Master Loan Agreement (Otter Tail Ag Enterprises, LLC)

Maximum Amount Limitation. Anything in the MLAthis Agreement, this First any Supplement, any Note, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLAthis Agreement, this First any Supplement, the Construction any Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction its Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section Section 2.10 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.10 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 3 contracts

Samples: Master Loan Agreement, Master Loan Agreement (Renewable Energy Group, Inc.), Master Loan Agreement (Renewable Energy Group, Inc.)

Maximum Amount Limitation. Anything in the MLAthis Agreement, this First Supplementany Note, or the other Loan Documents to the contrary notwithstanding, Borrower the Borrowers shall not be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or interest, discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the BorrowerBorrowers, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender Banks under the Construction Notetheir Notes, or under any of the other Loan DocumentsDocument, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the LenderBanks, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewiththereof. This section Section 2.16 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.16 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 2 contracts

Samples: Credit Agreement (Green Plains Renewable Energy, Inc.), Credit Agreement (Green Plains Renewable Energy, Inc.)

Maximum Amount Limitation. Anything in this Agreement, the MLA, this First SupplementNote, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First SupplementAgreement, the Construction Note, Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First SupplementAgreement, the Construction Note, Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First SupplementAgreement, the Construction Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during over the period of the full terms of the Advances Loan evidenced by the Construction Note, and any renewals thereof thereof, all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 2 contracts

Samples: Loan Agreement (Renewable Energy Group, Inc.), Loan Agreement (Renewable Energy Group, Inc.)

Maximum Amount Limitation. Anything in the MLA, this First Second Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Term Revolving Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Term Revolving Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Supplement, the Construction Term Revolving Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Supplement, the Construction Term Revolving Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction Term Revolving Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Term Revolving Note, be either refunded to the Borrower, or credited on the principal of the Construction Term Revolving Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Term Revolving Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Term Revolving Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 2 contracts

Samples: Master Loan Agreement (Central Iowa Energy, LLC), Master Loan Agreement (Otter Tail Ag Enterprises, LLC)

Maximum Amount Limitation. Anything in the this MLA, this First Third Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Revolving Line of Credit Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Revolving Line of Credit Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Revolving Line of Credit Note, be either refunded to the Borrower, or credited on the principal of the Construction Revolving Line of Credit Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Revolving Line of Credit Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Revolving Line of Credit Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 2 contracts

Samples: Master Loan Agreement (Central Iowa Energy, LLC), Master Loan Agreement (Otter Tail Ag Enterprises, LLC)

Maximum Amount Limitation. Anything in the MLAthis Agreement, this First Supplementany Note, or the other Loan Documents to the contrary notwithstanding, the Borrower shall not be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or interest, discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender Banks under the Construction Notetheir Notes, or under any of the other Loan DocumentsDocument, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the LenderBanks, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewiththereof. This section Section 2.15 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.15 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 2 contracts

Samples: Credit Agreement (Highwater Ethanol LLC), Credit Agreement (Highwater Ethanol LLC)

Maximum Amount Limitation. Anything in the this MLA, this First Second Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Revolving Line of Credit Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Revolving Line of Credit Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Second Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Second Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Second Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Revolving Line of Credit Note, be either refunded to the Borrower, or credited on the principal of the Construction Revolving Line of Credit Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Revolving Line of Credit Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Revolving Line of Credit Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 2 contracts

Samples: Master Loan Agreement (Renewable Energy Group, Inc.), Master Loan Agreement (Renewable Energy Group, Inc.)

Maximum Amount Limitation. Anything in the MLA, this First Fourth Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Term Revolving Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Term Revolving Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Fourth Supplement, the Construction Term Revolving Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Fourth Supplement, the Construction Term Revolving Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Fourth Supplement, the Construction Term Revolving Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Term Revolving Note, be either refunded to the Borrower, or credited on the principal of the Construction Term Revolving Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Term Revolving Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Term Revolving Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 2 contracts

Samples: Master Loan Agreement (Heron Lake BioEnergy, LLC), Master Loan Agreement (Heron Lake BioEnergy, LLC)

Maximum Amount Limitation. Anything in the this MLA, this First Second Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Revolving Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Revolving Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Supplement, the Construction Revolving Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Supplement, the Construction Revolving Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction Revolving Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Revolving Note, be either refunded to the Borrower, or credited on the principal of the Construction Revolving Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Revolving Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Revolving Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 2 contracts

Samples: Master Loan Agreement (US BioEnergy CORP), Master Loan Agreement (US BioEnergy CORP)

Maximum Amount Limitation. Anything in the MLAthis Agreement, this First Supplementany Note, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLAthis Agreement, this First Supplement, the Construction any Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction its Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section Section 2.09 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.09 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 2 contracts

Samples: Master Loan Agreement (Heron Lake BioEnergy, LLC), Master Loan Agreement (Heron Lake BioEnergy, LLC)

Maximum Amount Limitation. Anything in the MLAthis Agreement, this First Supplementany Note, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLAthis Agreement, this First Supplement, the Construction any Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction its Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section Section 2.12 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.12 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 2 contracts

Samples: Master Loan Agreement (Green Plains Renewable Energy, Inc.), Master Loan Agreement (Green Plains Renewable Energy, Inc.)

Maximum Amount Limitation. Anything in the this MLA, this First Third Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Revolving Line of Credit Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Revolving Line of Credit Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Third Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Third Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Third Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Revolving Line of Credit Note, be either refunded to the Borrower, or credited on the principal of the Construction Revolving Line of Credit Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Revolving Line of Credit Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Revolving Line of Credit Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 2 contracts

Samples: Master Loan Agreement (Central Iowa Energy, LLC), Master Loan Agreement (Central Iowa Energy, LLC)

Maximum Amount Limitation. Anything in the MLA, this First Second Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Note Term Revolving Note, the Revolving Note, or any of the Loan Obligations, or ever be required to pay interest on the Construction Note Term Revolving Note, the Revolving Note, or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Second Supplement, the Construction Term Revolving Note, the Revolving Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Second Supplement, the Construction Term Revolving Note, the Revolving Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Second Supplement, the Construction Term Revolving Note, the Revolving Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Term Revolving Note or the Revolving Note, as applicable, be either refunded to the Borrower, or credited on the principal of the Construction Term Revolving Note or the Revolving Note, as applicable. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Term Revolving Note, the Revolving Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Term Revolving Note, the Revolving Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Master Loan Agreement (Homeland Energy Solutions LLC)

Maximum Amount Limitation. Anything in the MLA, this First Fourth Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Term Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Term Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Fourth Supplement, the Construction Term Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Fourth Supplement, the Construction Term Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Fourth Supplement, the Construction Term Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Term Note, be either refunded to the Borrower, Borrower or credited on the principal of the Construction Term Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Term Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms term of the Advances evidenced by the Construction Term Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Master Loan Agreement (Homeland Energy Solutions LLC)

Maximum Amount Limitation. Anything in the MLA, this First Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Note, be either refunded to the Borrower, or credited on the principal of the Construction Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Master Loan Agreement (Homeland Energy Solutions LLC)

Maximum Amount Limitation. Anything in the MLA, this First Supplement, Agreement or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLAthis Agreement, this First Supplement, the Construction any Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction its Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section Section 2.13 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.13 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Construction and Revolving Loan Agreement (United Wisconsin Grain Producers LLC)

Maximum Amount Limitation. Anything in the MLA, this First Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Revolving Line of Credit Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Revolving Line of Credit Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Revolving Line of Credit Note, be either refunded to the Borrower, or credited on the principal of the Construction Revolving Line of Credit Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Revolving Line of Credit Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Revolving Advances evidenced by the Construction Revolving Line of Credit Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Master Loan Agreement (Homeland Energy Solutions LLC)

Maximum Amount Limitation. Anything in the MLAthis Agreement, this First Supplementany Note, or the other Loan Documents to the contrary notwithstanding, the Borrower shall not be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or interest, discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all GP:4272375 vl calculations of the rate of interest or discount contracted for, charged or received by the Lender Banks under the Construction Notetheir Notes, or under any of the other Loan DocumentsDocument, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the LenderBanks, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section Section 2.15 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.15 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Credit Agreement (Highwater Ethanol LLC)

Maximum Amount Limitation. Anything in the MLA, this First Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction 2014 Term Loan Note or any of the Loan Obligations, or ever be required to pay interest on the Construction 2014 Term Loan Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Supplement, the Construction 2014 Term Loan Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Supplement, the Construction 2014 Term Loan Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction 2014 Term Loan Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction 2014 Term Loan Note, be either refunded to the Borrower, Borrower or credited on the principal of the Construction 2014 Term Loan Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction 2014 Term Loan Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms term of the Advances evidenced by the Construction 2014 Term Loan Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Master Loan Agreement (Homeland Energy Solutions LLC)

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Maximum Amount Limitation. Anything in the MLA, this First Supplement, Agreement or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction a Note or any of the Loan Obligations, or ever be required to pay interest on the Construction a Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, a Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, such Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender Bank under the MLAthis Agreement, this First Supplement, the Construction a Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender Bank under the Construction a Note, or under any of the other Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the LenderBank, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances Loans evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender Bank in connection therewith. This section Section 2.12 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.12 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Credit Agreement (Fitlife Brands, Inc.)

Maximum Amount Limitation. Anything in the MLA, this First Third Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Term Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Term Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Third Supplement, the Construction Term Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Third Supplement, the Construction Term Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Third Supplement, the Construction Term Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Term Note, be either refunded to the Borrower, or credited on the principal of the Construction Term Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Term Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Term Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section Section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Master Loan Agreement (Heron Lake BioEnergy, LLC)

Maximum Amount Limitation. Anything in the MLA, this First Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction 2014 Term Loan Note or any of the Loan Obligations, or ever be required to pay interest on the Construction 2014 Term Loan Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Supplement, the Construction 2014 Term Loan Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Supplement, the Construction 2014 Term Loan Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction 2014 Term Loan Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction 2014 Term Loan Note, be either refunded to the Borrower, Borrower or credited on the principal of the Construction 2014 Term Loan Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction 2014 Term Loan Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms term of the Advances evidenced by the Construction 2014 Term Loan Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto7.

Appears in 1 contract

Samples: Master Loan Agreement

Maximum Amount Limitation. Anything in the MLA, this First Supplement, Agreement or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction a Note or any of the Loan Obligations, or ever be required to pay interest on the Construction a Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, a Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, such Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender Bank under the MLAthis Agreement, this First Supplement, the Construction a Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender Bank under the Construction a Note, or under any of the other Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the LenderBank, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances Loans evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender Bank in connection therewith. This section Section 2.13 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.13 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Credit Agreement (Fitlife Brands, Inc.)

Maximum Amount Limitation. Anything in the MLA, this First Supplement, Agreement or the other Loan Documents to the contrary notwithstanding, neither Borrower nor any other Person liable for the Bank Obligations shall not ever be required to pay unearned interest on the Construction any Note or any of the Loan Bank Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any, provided, however, that if at any time thereafter such effective rate of interest shall be less than the Maximum Rate, if any, the rate of interest contracted for, charged, or received under this Agreement, any Note or any of the other Loan Documents shall be the Maximum Rate until each Bank shall have received the interest or discount it otherwise would have received but for such limitation to the Maximum Rate. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower Borrower, or any other Person liable for the Loan Bank Obligations to the Lender any Bank under the MLAthis Agreement, this First Supplement, the Construction any Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the BorrowerBorrower or other Person, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.agreed

Appears in 1 contract

Samples: Revolving Credit Agreement (Hudson Foods Inc)

Maximum Amount Limitation. Anything in the MLA, this First Supplement, Agreement or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLAthis Agreement, this First Supplement, the Construction any Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction its Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section Section 2.15 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.15 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Loan Agreement (Badger State Ethanol LLC)

Maximum Amount Limitation. Anything in the MLA, this First Supplement, Agreement or the other Loan Documents to the contrary notwithstanding, Borrower Borrowers shall not be required to pay unearned interest on the Construction Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Supplement, the Construction Note, Agreement or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Supplement, the Construction Note, Agreement or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower Borrowers for the Loan Obligations to the Lender Bank under the MLA, this First Supplement, the Construction Note, Agreement or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction NoteBank, be either refunded to the Borrower, Borrowers or credited on the principal of the Construction Notesuch Obligations. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable lawLaws, all calculations of the rate of interest or discount contracted for, charged or received by the Lender Bank under the Construction Notethis Agreement, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the LenderBank, if any, shall be made, to the extent permitted by applicable laws Laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms term of the Advances evidenced by the Construction Note, applicable Loan and any renewals thereof all interest at any time contracted for, charged or received by Lender Bank in connection therewith. This section Section 2.07 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.07 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Loan Agreement (Condor Hospitality Trust, Inc.)

Maximum Amount Limitation. Anything It is not the intention of any of the parties to this Agreement to make an agreement violative of the Laws of any applicable jurisdiction relating to usury. Regardless of any provision in this Agreement, the MLA, this First Supplement, Notes or the any other Loan Documents Paper, Lender shall never be entitled to the contrary notwithstandingreceive, Borrower shall not be required to pay unearned collect or apply, as interest on the Construction Note or Obligation, any of the Loan Obligations, or ever be required to pay interest on the Construction Note or any of the Loan Obligations at a rate amount in excess of the Maximum Rate, if anyAmount. If the effective rate of interest Lender ever receives, collects or applies, as interest, any such excess, such amount which would otherwise be payable excessive interest shall be deemed a partial repayment of principal and treated hereunder as such; and if principal is paid in full, any remaining excess shall be paid to Borrower. In determining whether or not the interest paid or payable, under the MLAany specific contingency, this First Supplement, the Construction Note, or any of the other Loan Documents would exceed exceeds the Maximum RateAmount, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitationBorrower and Lender shall, to the maximum extent that permitted under Applicable Laws, (a) characterize any nonprincipal payment as an expense, fee or premium rather than as interest, (b) exclude voluntary prepayments and the effect thereof, and (c) amortize, prorate, allocate and spread in equal parts, the total amount of interest throughout the entire contemplated term of the fees payable by Borrower Obligation so that the interest rate is uniform throughout the entire term of the Obligation; provided that if the Obligation is paid and performed in full prior to the end of the full contemplated term thereof, and if the interest received for the Loan Obligations actual period of existence thereof exceeds the Maximum Amount, Lender shall refund to Borrower the amount of such excess or credit the amount of such excess against the total principal amount owing, and, in such event, Lender under the MLA, this First Supplement, the Construction Note, or shall not be subject to any of the other Loan Documents are deemed to constitute interest) is contracted penalties provided by any Laws for contracting for, charged, charging or received in excess of the Maximum Rate, if any, then such receiving interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Note, be either refunded to the Borrower, or credited on the principal of the Construction Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewithAmount. This section Section 8.12 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, Notes and the terms of this section shall be deemed to be incorporated in every other Loan Document and communication related theretoPapers.

Appears in 1 contract

Samples: Credit Agreement (Quest Medical Inc)

Maximum Amount Limitation. Anything in the MLA, this First Supplement, Agreement or the any other Loan Documents Document to the contrary notwithstanding, Borrower shall not ever be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender Agent under the MLAthis Agreement, this First Supplement, the Construction any Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender Agent under the Construction NoteNotes, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the LenderAgent, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender such Bank in connection therewith. This section Section 2.12 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.12 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Construction and Term Loan Agreement (Show Me Ethanol, LLC)

Maximum Amount Limitation. Anything in the MLA, this First Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Term Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Term Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Supplement, the Construction Term Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Supplement, the Construction Term Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction Term Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Term Note, be either refunded to the Borrower, or credited on the principal of the Construction Term Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Term Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Term Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section Section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Master Loan Agreement (Renewable Energy Group, Inc.)

Maximum Amount Limitation. Anything in the MLAthis Agreement, this First any Supplement, any Note, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLAthis Agreement, this First any Supplement, the Construction any Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction its Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section Section 2.13 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.13 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Master Loan Agreement (Homeland Energy Solutions LLC)

Maximum Amount Limitation. Anything in the MLAthis Agreement, this First Supplementany Note, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLAthis Agreement, this First Supplement, the Construction any Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction NoteNotes, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section Section 2.04 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.04 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Construction and Term Loan Agreement (Otter Tail Ag Enterprises, LLC)

Maximum Amount Limitation. Anything in the MLA, this First Supplement, Agreement or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First SupplementAgreement, the Construction Note, Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First SupplementAgreement, the Construction Note, Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender Bank under the MLA, this First SupplementAgreement, the Construction Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender Bank under the Construction its Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the LenderBank, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender Bank in connection therewith. This section Section 2.10 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section Section 2.10 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Credit Agreement (Fitlife Brands, Inc.)

Maximum Amount Limitation. Anything in the MLA, this First Third Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Revolving Line of Credit Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Revolving Line of Credit Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Third Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Third Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction Revolving Line of Credit Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Revolving Line of Credit Note, be either refunded to the Borrower, or credited on the principal of the Construction Revolving Line of Credit Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Revolving Line of Credit Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Revolving Line of Credit Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Master Loan Agreement (Homeland Energy Solutions LLC)

Maximum Amount Limitation. Anything in the MLAthis Agreement, this First any Supplement, any Note, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction any Note or any of the Loan Obligations, or ever be required to pay interest on the Construction any Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLAthis Agreement, this First Supplement, the Construction Note, any Note or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLAthis Agreement, this First any Supplement, the Construction any Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction such Note, be either refunded to the Borrower, or credited on the principal of the Construction such Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction its Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction NoteNotes, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section Section 2.13 shall control every other provision of all agreements among the parties to the MLA this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, GP:4879178v4 i and the terms of this section Section 2.13 shall be deemed to be incorporated in every Loan Document and communication related thereto.

Appears in 1 contract

Samples: Master Loan Agreement (Homeland Energy Solutions LLC)

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