Provisions Relating to Interest. (IF ANY) PAYABLE Fixed Rate Note Provisions [Applicable/Not Applicable]
Provisions Relating to Interest. All Loans hereunder and outstanding from time to time shall bear interest at a daily rate equal to the Floating Rate per annum, each such change in the rate of interest charged on the Loans to become effective without notice to Borrower, on the effective date of each change in the Index Rate, calculated on the basis of a year of three hundred sixty-five or three hundred sixty-six (365 or 366) days, as applicable, from the date of advance through the date of repayment. It is the intention of the parties hereto to comply strictly with the usury laws of the State of Texas and the United States of America and, in this connection, there shall never be collected, charged or received on any sums advanced hereunder interest in excess of the Maximum Rate. For purposes of Article 5069-1.04, Vernon's Texas Civil Statutes, as amended, Borrower agrees that the maximum rate to be charged shall be the "indicated (weekly) rate ceiling" as defined in said Article, provided that Bank may also rely to the extent permitted by applicable laws of the State of Texas or the United States of America, on alternative maximum rates of interest under other applicable laws of the State of Texas or the United States of America applicable to Bank, if greater. Interest on past due interest and principal shall be at a daily rate equal to the lesser of (a) the Maximum Rate per annum or (b) the Floating Rate plus three percent (3%) per annum, calculated on the basis of a year of three hundred sixty-five or three hundred sixty-six (365 or 366) days, as applicable, for the number of days elapsed; and if no Maximum Rate exists, all past due interest and principal shall bear interest at a daily rate equal to the Floating Rate plus three percent (3%) per annum, calculated on a year of three hundred sixty-five or three hundred sixty-six (365 or 366), as applicable, days for the number of days elapsed. Notwithstanding anything herein or in the Note to the contrary, during any Limitation Period, the interest rate to be charged on amounts evidenced by the Note shall be the Maximum Rate and the obligation of Borrower for any fees payable hereunder and deemed to be interest under applicable law shall be suspended. During any period or periods of time following a Limitation Period, to the extent permitted by applicable laws of the State of Texas or the United States of America, the interest rate to be charged hereunder shall remain at the Maximum Rate until such time as there has been
Provisions Relating to Interest. 9 2.05 Advances to Satisfy Obligations of Borrower . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 2.06 Mandatory Prepayment of the Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 2.07
Provisions Relating to Interest. (IF ANY) PAYABLE Fixed Rate Note Provisions [Applicable/Not Applicable] (If not applicable, delete the remaining sub- paragraphs of this paragraph)
Provisions Relating to Interest. (A) Subject to the terms and provisions of this Agreement, the Loans shall bear interest at a daily rate equal to the applicable Floating Rate per annum, each change in the rate of interest to become effective without notice to the Borrower, on the effective date of each change in the BANK ONE Base Rate.
Provisions Relating to Interest. The Revolving Loan and the Term Loan outstanding from time to time hereunder shall bear interest at a daily rate equal to the Floating Rate or the Term Note Floating Rate per annum, respectively, each such change in the rate of interest charged on the Revolving Loan or the Term Loan to become effective without notice to the Borrower, on the effective date of each change in the BANK ONE Base Rate, calculated on the basis of a year of three hundred sixty-five (365) days from the date of advance through the date of repayment.
Provisions Relating to Interest
