Common use of Maximum Lawful Rate Clause in Contracts

Maximum Lawful Rate. This Agreement and the Notes are hereby limited by this Section 3.09. In no event, whether by reason of acceleration of the maturity of the amounts due hereunder or otherwise, shall interest and fees contracted for, charged, received, paid or agreed to be paid to the Holder exceed the maximum amount permissible under such applicable law. If, from any circumstance whatsoever, interest and fees would otherwise be payable to the Holder in excess of the maximum amount permissible under such applicable law, the interest and fees shall be reduced to the maximum amount permitted under applicable law. If from any circumstance, the Holder shall have received anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excess of interest shall be applied to the reduction of the principal amount of the Notes, in such manner as may be determined by the Holder, and not to the payment of fees or interest, or if such excessive interest exceeds the unpaid balance of the principal amount of the Notes, such excess shall be refunded to the Company.

Appears in 5 contracts

Samples: Securities Purchase Agreement (AGA Medical Holdings, Inc.), Securities Purchase Agreement (AGA Medical Holdings, Inc.), Securities Purchase Agreement (AGA Medical Holdings, Inc.)

AutoNDA by SimpleDocs

Maximum Lawful Rate. This Agreement Agreement, the Notes and the Notes other Loan Documents are hereby limited by this Section 3.093.6. In no event, whether by reason of acceleration of the maturity of the amounts due hereunder or otherwise, shall interest and fees contracted for, charged, received, paid or agreed to be paid to the Holder exceed the maximum amount permissible under such applicable law. If, from any circumstance whatsoever, interest and fees would otherwise be payable to the Holder Purchasers in excess of the maximum amount permissible under such applicable law, the interest and fees shall be reduced to the maximum amount permitted under applicable law. If from any circumstance, the Holder Purchasers shall have received anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excess of interest shall be applied to the reduction of the Aggregate Commitment or principal amount of the Notes, as the case may be, in such manner as may be determined by the HolderPurchasers, and not to the payment of fees or interest, or if such excessive interest exceeds the unpaid balance of the Aggregate Commitment or principal amount of the Notes, as the case may be, such excess shall be refunded to the Company.

Appears in 3 contracts

Samples: Convertible Note Purchase Agreement (CNH Holdings Co), Convertible Note Purchase Agreement (Cistera Networks, Inc.), Convertible Note Purchase Agreement (CNH Holdings Co)

Maximum Lawful Rate. This Agreement and the Notes are hereby limited by this Section 3.093.08. In no event, whether by reason of acceleration of the maturity of the amounts due hereunder or otherwise, shall interest and fees contracted for, charged, received, paid or agreed to be paid to the Holder exceed the maximum amount permissible under such applicable law. If, from any circumstance whatsoever, interest and fees would otherwise be payable to the Holder in excess of the maximum amount permissible under such applicable law, the interest and fees shall be reduced to the maximum amount permitted under applicable law. If from any circumstance, the Holder shall have received anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excess of interest shall be applied to the reduction of the principal amount of the Notes, in such manner as may be determined by the Holder, and not to the payment of fees or interest, or if such excessive interest exceeds the unpaid balance of the principal amount of the Notes, such excess shall be refunded to the CompanyHoldings.

Appears in 2 contracts

Samples: Securities Purchase (Paycom Software, Inc.), Securities Purchase (Paycom Software, Inc.)

Maximum Lawful Rate. This Agreement Agreement, the Notes and the Notes other Purchase Documents are hereby limited by this Section 3.093.7. In no event, whether by reason of acceleration of the maturity of the amounts due hereunder or otherwise, shall interest and fees contracted for, charged, received, paid or agreed to be paid to the Holder Noteholders exceed the maximum amount permissible under such applicable law. If, from any circumstance whatsoever, interest and fees would otherwise be payable to the Holder Noteholders in excess of the maximum amount permissible under such applicable law, the interest and fees shall be reduced to the maximum amount permitted under applicable law. If from any circumstance, the Holder Noteholders shall have received anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any such excess of interest shall be applied to the reduction of the principal amount of the Notes, in such manner as may be determined by the HolderNoteholders, and not to the payment of fees or interest, or if such excessive excess interest exceeds the unpaid balance of the principal amount of the Notes, such excess shall be refunded to the Company.

Appears in 2 contracts

Samples: Note Purchase Agreement (Darling International Inc), Note Purchase Agreement (Darling International Inc)

Maximum Lawful Rate. This Agreement and the Notes Note are hereby limited by this Section 3.092.07. In no event, whether by reason of acceleration of the maturity of the amounts due hereunder or otherwise, shall interest and fees contracted for, charged, received, paid or agreed to be paid to the Holder Lender exceed the maximum amount permissible under such applicable lawLaw. If, from any circumstance whatsoever, interest and fees otherwise would otherwise be payable to the Holder Lender in excess of the maximum amount permissible under such applicable lawLaw, the interest and fees shall be reduced to the maximum amount permitted under applicable lawLaw. If If, from any circumstancecircumstance whatsoever, the Holder Lender shall have received anything of value deemed interest by applicable law Law in excess of the maximum lawful amount, an amount equal to any excess of interest shall be applied to the reduction of the principal amount of the NotesNote, in such manner as may be determined by the HolderLender, and not to the payment of fees or interest, or if such excessive interest exceeds the unpaid balance of the principal amount of the NotesNote, such excess shall be refunded to the CompanyBorrower.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Appgate, Inc.), Revolving Credit Agreement and Pledge and Security Agreement (Appgate, Inc.)

Maximum Lawful Rate. This Agreement and the Notes The Purchase Documents are hereby limited by this Section 3.093.8. In no event, whether by reason of acceleration of the maturity of the amounts due hereunder or otherwise, shall interest and fees contracted for, charged, received, paid or agreed to be paid to the Holder Purchasers exceed the maximum amount permissible under such applicable lawLaw. If, from any circumstance whatsoever, interest and fees would otherwise be payable to the Holder Purchasers in excess of the maximum amount permissible under such applicable lawLaw, the interest and fees shall be reduced to the maximum amount permitted under such applicable lawLaw. If from any circumstancecircumstance whatsoever, the Holder Purchasers shall have received anything of value deemed interest by applicable law Law in excess of the maximum lawful amountamount permitted under applicable Law, an amount equal to any such excess of interest shall be applied to the reduction of the principal amount of the Notes, in such manner as may be determined by the HolderPurchasers, and not to the payment of fees or interest, or if such excessive interest excess exceeds the unpaid balance of the principal amount of the Notes, such excess shall be refunded to the CompanyBorrower.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Rand Logistics, Inc.)

Maximum Lawful Rate. This Agreement and the Notes are hereby limited by this Section 3.093.08. In no event, whether by reason of acceleration of the maturity of the amounts due hereunder or otherwise, shall interest and fees contracted for, charged, received, paid or agreed to be paid to the Holder exceed the maximum amount permissible under such applicable law. If, from any circumstance whatsoever, interest and fees would otherwise be payable to the Holder in excess of the maximum amount permissible under such applicable law, the interest and fees shall be reduced to the maximum amount permitted under applicable law. If from any circumstance, the Holder shall have received anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excess of interest shall be applied to the reduction of the principal amount of the Notes, in such manner as may be determined by the Holder, and not to the payment of fees or interest, or if such excessive interest exceeds the unpaid balance of the principal amount of the Notes, such excess shall be refunded to the CompanyParent.

Appears in 1 contract

Samples: Securities Purchase Agreement (TransFirst Inc.)

AutoNDA by SimpleDocs

Maximum Lawful Rate. This Agreement and the Notes Note are hereby limited by this Section 3.092.07. In no event, whether by reason of acceleration of the maturity of the amounts due hereunder or otherwise, shall interest and fees contracted for, charged, received, paid or agreed to be paid to the Holder Lender exceed the maximum amount permissible under such applicable lawLaw. If, from any circumstance whatsoever, interest and fees otherwise would otherwise be payable to the Holder Lender in excess of the maximum amount permissible under such applicable lawLaw, the interest and fees shall be reduced to the maximum amount permitted under applicable lawLaw. If If, from any circumstancecircumstance whatsoever, the Holder Lender shall have received anything of value deemed interest by applicable law Law in excess of the maximum lawful amount, an amount equal to any excess of interest shall be applied to the reduction of the principal amount of the NotesNote, in such manner as may be determined by the HolderLender, and not to the payment of fees or interest, or if such excessive interest exceeds the unpaid balance of the principal amount of the NotesNote, such excess shall be refunded to the CompanyBorrower. ARTICLE III.

Appears in 1 contract

Samples: Revolving Credit Agreement (Appgate, Inc.)

Maximum Lawful Rate. This Agreement Agreement, the Notes and the Notes other Purchase Documents are hereby limited by this Section 3.093.7. In no event, whether by reason of acceleration of the maturity of the amounts due hereunder or otherwise, shall interest and fees contracted for, charged, received, paid or agreed to be paid to the Holder Purchaser exceed the maximum amount permissible under such applicable law. If, from any circumstance whatsoever, interest and fees would otherwise be payable to the Holder Purchaser in excess of the maximum amount permissible under such applicable law, the interest and fees shall be reduced to the maximum amount permitted under applicable law. If from any circumstance, the Holder Purchaser shall have received anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excess of interest shall be applied to the reduction of the principal amount of the Notes, in such manner as may be determined by the HolderPurchaser, and not to the payment of fees or interest, or if such excessive interest exceeds the unpaid balance of the principal amount of the Notes, such excess shall be refunded to the Company.

Appears in 1 contract

Samples: Note and Equity Purchase Agreement (O2wireless Solutions Inc)

Maximum Lawful Rate. This Agreement Agreement, the Loans and the Notes other Loan Documents are hereby limited by this Section 3.092.4. In no event, whether by reason of acceleration of the maturity of the amounts due hereunder or otherwise, shall interest and fees contracted for, charged, received, paid or agreed to be paid to the Holder Lender exceed the maximum amount permissible under such applicable law. If, from any circumstance whatsoever, interest and fees would otherwise be payable to the Holder Lender in excess of the maximum amount permissible under such applicable law, the interest and fees shall be reduced to the maximum amount permitted under applicable law. If from any circumstance, the Holder Lender shall have received anything of value deemed interest by applicable law in excess of the maximum lawful amount, an amount equal to any excess of interest shall be applied to the reduction of the principal amount of the Notes, Loans in such manner as may be determined by the HolderLender, and not to the payment of fees or interest, or if such excessive interest exceeds the unpaid balance of the principal amount of the NotesLoans, such excess shall be refunded to the CompanyBoundless.

Appears in 1 contract

Samples: Credit Agreement (Boundless Motor Sports Racing Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!