Common use of Maximum Charges Clause in Contracts

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

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Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Agent or any Lender has received interest and other charges hereunder in excess of the such highest rate applicable heretorate, such excess interest shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender applicable recipient shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (General Datacomm Industries Inc)

Maximum Charges. In no event whatsoever shall interest and other charges amounts charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that the Lender has received interest and other charges Charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by Borrowersthe Borrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers the Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tristar Corp)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Advanced Lighting Technologies Inc)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Agent or any Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Allstate Financial Corp /Va/)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable permissible hereto, such excess interest amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest amount is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Meridian Sports Inc)

Maximum Charges. In no event whatsoever shall interest and --------------- other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that any Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, the such Lender shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Revolving Credit, Factoring and Security Agreement (Tarrant Apparel Group)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by Borrowersthe Borrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers the Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that the Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by Borrowersthe Borrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers the Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Credit Agreement (Cold Metal Products Inc)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers as of the date paid and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Credit and Security Agreement (Cold Metal Products Inc)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable permissible hereto, such excess interest amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess interest amount is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (E Com Ventures Inc)

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Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed owned by BorrowersBorrower's, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Prima Group International Inc)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Agent or any Lender has received interest and other charges hereunder in excess of the highest rate applicable permissible hereto, such excess interest amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest amount is greater than the previously unpaid principal balance, the Lender Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Delta Mills Inc)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Revolving Credit Agreement (Claires Stores Inc)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable permissible hereto, such excess interest amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest amount is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Oil & Gas Term Loan Agreement (American Real Estate Partners L P)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that the Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by Borrowersthe Borrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers the Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Subordinated Credit Agreement (Town Sports International Inc)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Agent or any Lender has received interest and other charges hereunder in excess of the highest rate applicable permissible hereto, such excess interest amount shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest amount is greater than the previously unpaid principal balance, the Lender Lenders shall promptly refund such excess amount to Borrowers Borrower and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Candies Inc)

Maximum Charges. In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that a court determines that Lender has received interest and other charges hereunder in excess of the highest rate applicable hereto, such excess interest shall be first applied to any unpaid principal balance owed by BorrowersBorrower, and if the then remaining excess interest is greater than the previously unpaid principal balance, the Lender shall promptly refund such excess amount to Borrowers Borrower as of the date paid and the provisions hereof shall be deemed amended to provide for such permissible rate.

Appears in 1 contract

Samples: Credit and Security Agreement (Cold Metal Products Inc)

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