Common use of Recapture Rate Clause in Contracts

Recapture Rate. If the applicable interest rate ever exceeds the Maximum Rate thereby causing the interest charged on the Obligations to be limited to the Maximum Rate, then, to the extent permitted by Applicable Law, any subsequent reductions in the applicable interest rate shall not reduce the rate of interest charged hereunder below the Maximum Rate until the total amount of interest accrued on the Obligations equals the amount of interest that would have accrued thereon if the applicable contract rate had at all times been in effect.

Recapture Rate. If the applicable interest rate Contract Rate ever exceeds the Maximum Rate Rate, thereby causing the interest charged on under the Obligations Notes to be limited to the Maximum Rate, then, to the extent permitted by Applicable Lawapplicable law, any subsequent reductions in the applicable interest rate Contract Rate shall not reduce the rate of interest charged hereunder under the Notes below the Maximum Rate Rate, until the total amount of interest accrued on the Obligations Notes equals the amount of interest that would have accrued thereon if the applicable contract rate Contract Rate had at all times been in effect.