Common use of Maximum Lawful Rate of Interest Clause in Contracts

Maximum Lawful Rate of Interest. Notwithstanding anything to the contrary set forth in Section 1.5 (Interest; Payments), if a court of competent jurisdiction determines in a final unappealable order that the rate of interest payable hereunder exceeds the Maximum Lawful Rate, then so long as the Maximum Lawful Rate would be so exceeded, the rate of interest payable hereunder shall be equal to the Maximum Lawful Rate. In no event shall the total interest received by Lenders pursuant to the terms hereof exceed the amount that such Lenders could lawfully have received had the interest due hereunder been calculated for the full term hereof at the Maximum Lawful Rate. Any payments made by Borrowers in excess of the Maximum Lawful Rate shall be considered voluntary prepayments of the Loans under Section 1.4(a) (Voluntary Prepayments); provided that no prepayment premium set forth therein shall be applicable to any such payments.

Maximum Lawful Rate of Interest. Notwithstanding anything to the contrary set forth in Section 1.5 (Interest; Payments), if a court of competent jurisdiction determines in a final unappealable order that the rate of interest payable hereunder exceeds the Maximum Lawful Rate, then so long as the Maximum Lawful Rate would be so exceeded, the rate of interest payable hereunder shall be equal to the Maximum Lawful Rate. In no event shall the total interest received by Lenders Lender pursuant to the terms hereof exceed the amount that such Lenders Lender could lawfully have received had the interest due hereunder been calculated for the full term hereof at the Maximum Lawful Rate. Any payments made by Borrowers in excess of the Maximum Lawful Rate shall be considered voluntary prepayments of the Loans Loan under Section 1.4(a) (Voluntary Prepayments); provided that no prepayment premium set forth therein shall be applicable to any such payments.

Maximum Lawful Rate of Interest. Notwithstanding anything to the contrary set forth in Section 1.5 (Interest; Payments), if a court of competent jurisdiction determines in a final unappealable order that the rate of interest payable hereunder exceeds the Maximum Lawful Rate, then so long as the Maximum Lawful Rate would be so exceeded, the rate of interest payable hereunder shall be equal to the Maximum Lawful Rate. In no event shall the total interest received by Lenders Lender pursuant to the terms hereof exceed the amount that such Lenders Lender could lawfully have received had the interest due hereunder been calculated for the full term hereof at the Maximum Lawful Rate. Any payments made by Borrowers in excess of the Maximum Lawful Rate shall be considered voluntary prepayments of the Loans under Section 1.4(a) (Voluntary Prepayments); provided that no prepayment premium set forth therein shall be applicable to any such payments.