Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to Borrower.
Appears in 17 contracts
Samples: Loan and Security Agreement (Sri Surgical Express Inc), Loan and Security Agreement (Emcore Corp), Loan and Security Agreement (Perry-Judds Inc)
Maximum Interest. It is the intent of the parties that the rate of interest and the other charges to Borrower under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender LaSalle may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to Borrower.
Appears in 10 contracts
Samples: Loan and Security Agreement (Hei Inc), Loan and Security Agreement (Nematron Corp), Loan and Security Agreement (American Materials & Technologies Corp)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to each Borrower under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge such Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to such Borrower.
Appears in 6 contracts
Samples: Loan and Security Agreement (Wells Gardner Electronics Corp), Loan and Security Agreement (Oilgear Co), Loan and Security Agreement (Novitron International Inc)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Agent or any Lender may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to Borrower.
Appears in 5 contracts
Samples: Loan and Security Agreement (Apac Customer Service Inc), Loan and Security Agreement (Perry-Judds Inc), Loan and Security Agreement (Apac Customer Service Inc)
Maximum Interest. It is the intent of the parties that the rate of interest and the other charges to the Borrower under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge the Borrower, then the obligation to pay interest and other charges shall automatically be reduced with retroactive effect to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to the Borrower.
Appears in 3 contracts
Samples: Loan Agreement (Synergy CHC Corp.), Loan Agreement (Synergy CHC Corp.), Loan Agreement (Synergy CHC Corp.)
Maximum Interest. It is the intent of the parties Borrower and Lender that the rate of interest and the other charges to of Borrower under this Loan Agreement and the Other Agreements shall be lawful; therefore, if for any reason reason, the interest or other charges payable under this Loan Agreement are found by a court of competent jurisdiction, in a final determination, jurisdiction to exceed the limit which Lender may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any limits. If Borrower has paid an amount in excess of such limit shall have been paidlimit, then such amount shall be refunded applied to Borrowerreduce the principal portion of the Liabilities.
Appears in 3 contracts
Samples: Loan and Security Agreement (Better Choice Co Inc.), Loan and Security Agreement (Total Apparel Group , Inc.), Loan and Security Agreement (United American Healthcare Corp)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower Borrowers under this Agreement and the Other Agreements other Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge BorrowerBorrowers, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to BorrowerBorrowers.
Appears in 3 contracts
Samples: Loan and Security Agreement (Westmoreland Resource Partners, LP), Loan and Security Agreement (WESTMORELAND COAL Co), Loan and Security Agreement (Katy Industries Inc)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower under this Agreement and the Other Agreements other Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which a Lender may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to Borrower.
Appears in 3 contracts
Samples: Loan and Security Agreement (TPG Pace Holdings Corp.), Loan and Security Agreement (TPG Pace Holdings Corp.), Loan and Security Agreement (Broadwind Energy, Inc.)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower under this Agreement and the Other Agreements Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to Borrower.
Appears in 2 contracts
Samples: Credit and Security Agreement (Singing Machine Co Inc), Credit and Security Agreement (LIVE VENTURES Inc)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Administrative Agents or any Lender may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to Borrower.
Appears in 2 contracts
Samples: Loan and Security Agreement (Cobra Electronics Corp), Loan and Security Agreement (Cobra Electronics Corp)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to each Borrower under this Agreement and the Other Agreements Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge such Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to such Borrower.
Appears in 2 contracts
Samples: Credit and Security Agreement (LIVE VENTURES Inc), Credit and Security Agreement (Mendocino Brewing Co Inc)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower Borrowers under this Agreement and the Other Agreements other Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which a Lender may lawfully charge BorrowerBorrowers, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to BorrowerBorrowers.
Appears in 2 contracts
Samples: Loan and Security Agreement (S&W Seed Co), Loan and Security Agreement (S&W Seed Co)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to BorrowerBorrower or, at Lender’s option, credited against the obligations to become payable thereafter.
Appears in 2 contracts
Samples: Loan and Security Agreement (Seven Arts Pictures PLC), Loan and Security Agreement (Seven Arts Pictures PLC)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower Borrowers under this Agreement and the Other Agreements other Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Agent or any Lender may lawfully charge to a Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to the applicable Borrower.
Appears in 2 contracts
Samples: Credit Agreement (Lawson Products Inc/New/De/), Credit Agreement (Lawson Products Inc/New/De/)
Maximum Interest. It is the intent of the parties Borrower, Agent and Lenders that the rate of interest and the other charges to of Borrower under this Loan Agreement and the Other Agreements shall be lawful; therefore, if for any reason reason, the interest or other charges payable under this Loan Agreement are found by a court of competent jurisdiction, in a final determination, jurisdiction to exceed the limit which Lender Agent and Lenders may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any limits. If Borrower has paid an amount in excess of such limit shall have been paidlimit, then such amount shall be refunded applied to Borrowerreduce the principal portion of the Liabilities.
Appears in 2 contracts
Samples: Loan and Security Agreement (Agritech Worldwide, Inc.), Loan and Security Agreement (Agritech Worldwide, Inc.)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to Borrower.
Appears in 2 contracts
Samples: Loan and Security Agreement (Gibraltar Packaging Group Inc), Loan and Security Agreement (Infinity Inc)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower Borrowers under this Agreement and the Other Agreements other Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge BorrowerBorrowers, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to BorrowerRepresentative.
Appears in 2 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Lawson Products Inc/New/De/)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower Borrowers under this Agreement and the Other Agreements Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge BorrowerBorrowers, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to BorrowerBorrowers.
Appears in 2 contracts
Samples: Credit and Security Agreement (Lime Energy Co.), Credit and Security Agreement (Clark Holdings Inc.)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower Borrowers under this Agreement and the Other Agreements other Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which a Lender may lawfully charge a Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to such Borrower.
Appears in 1 contract
Samples: Loan and Security Agreement (Manitex International, Inc.)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Agent, Administrative Agent or any Lender may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to Borrower.
Appears in 1 contract
Samples: Second Lien Loan and Security Agreement (Apac Customer Service Inc)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to each Borrower under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge BorrowerBorrowers (or any one of them), then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to BorrowerBorrowers.
Appears in 1 contract
Samples: Loan and Security Agreement (Am Communications Inc)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower Borrowers under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Agent or any Lender may lawfully charge BorrowerBorrowers, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to BorrowerBorrowers.
Appears in 1 contract
Samples: Loan and Security Agreement (Polyair Inter Pack Inc)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to the Borrower under this Agreement and the Other Agreements other Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final non-appealable determination, to exceed the limit which Lender the Administrative Agent and the Lenders may lawfully charge the Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to the Borrower.
Appears in 1 contract
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower under this Agreement and the Other Agreements other Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to such Borrower.
Appears in 1 contract
Samples: Line of Credit, Guarantee and Security Agreement (Blue Dolphin Energy Co)
Maximum Interest. It is the intent of the parties that the rate rates of interest and other charges to Borrower the Borrowers under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Agent or Lender may lawfully charge Borrowerthe Borrowers, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to Borrowerthe Borrowers.
Appears in 1 contract
Samples: Loan and Security Agreement (Medical Technology Systems Inc /De/)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower Borrowers under this Agreement and the Other Agreements other Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Agent or any Lender may lawfully charge BorrowerBorrowers, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to BorrowerBorrowers.
Appears in 1 contract
Samples: Loan and Security Agreement (Teletouch Communications Inc)
Maximum Interest. It is the intent of the parties that the rate of interest and the other charges to the Borrower under this Agreement and the Other Agreements shall will be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which the Lender may lawfully charge the Borrower, then the obligation to pay interest and other charges shall will automatically be reduced with retroactive effect to such limit and, if any amount in excess of such limit shall will have been paid, then such amount shall will be refunded to the Borrower.
Appears in 1 contract
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to each Borrower under this Agreement and the Other Agreements other Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge such Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to such Borrower.
Appears in 1 contract
Samples: Loan and Security Agreement (Broadwind Energy, Inc.)
Maximum Interest. It is the intent of the parties that the rate of interest and the other charges to Borrower under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender Agent may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to Borrower.be
Appears in 1 contract
Samples: Loan and Security Agreement (Transact Technologies Inc)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower under this Agreement and the Other Agreements other Loan Documents shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Agent or any Lender may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to Borrower.
Appears in 1 contract
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower Borrowers under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement and the Other Agreements are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge BorrowerBorrowers, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to BorrowerBorrowers.
Appears in 1 contract
Samples: Loan and Security Agreement (Coast Distribution System Inc)
Maximum Interest. It is the intent of the parties that the rate of interest and the other charges to Borrower under this Agreement and the Other Agreements shall will be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge Borrower, then the obligation to pay interest and other charges shall will automatically be reduced to such limit and, if any amount in excess of such limit shall have been paidand at Lender's option, then such amount shall be refunded to BorrowerLender may accelerate the maturity date of the Three term loans for immediate payment.
Appears in 1 contract
Samples: Loan Agreement (International Thunderbird Gaming Corp)
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower Borrowers under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Lender may lawfully charge BorrowerBorrowers, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to BorrowerBorrowers.
Appears in 1 contract
Maximum Interest. It is the intent of the parties that the rate of interest and other charges to Borrower under this Agreement and the Other Agreements shall be lawful; therefore, if for any reason the interest or other charges payable under this Agreement are found by a court of competent jurisdiction, in a final determination, to exceed the limit which Agents or any Lender may lawfully charge Borrower, then the obligation to pay interest and other charges shall automatically be reduced to such limit and, if any amount in excess of such limit shall have been paid, then such amount shall be refunded to Borrower.
Appears in 1 contract
Samples: Loan and Security Agreement (Cobra Electronics Corp)
