Common use of Recapture Rate Clause in Contracts

Recapture Rate. If, on any interest payment date, Agent does not receive interest (for the account of any Bank) on such Bank's Note computed (as if no Maximum Rate limitations were applicable) at the applicable contract rate described herein, because the applicable contract rate exceeds or has exceeded the Maximum Rate, then Company shall, upon the written demand of Agent or such Bank, pay to such Bank, in addition to interest otherwise required hereunder, on each interest payment date thereafter, the Excess Interest Amount calculated as of such later interest payment date; provided, however, that in no event shall Company be required to pay, for any appropriate computation period, interest at a rate exceeding the Maximum Rate effective during such period. The term "Excess Interest Amount" shall mean, on any date, with respect to the Note of any Bank, the amount by which (i) the amount of all interest which would have accrued prior to such date on the principal of such Note (had the applicable contract rate(s) described herein at all times been in effect, without limitation by the Maximum Rate) exceeds (ii) the aggregate amount of interest actually paid to such Bank on such Note on or prior to such date.

Recapture Rate. If, on any interest payment date, Agent does not receive interest (for the account of on any Bank) on such Bank's Note computed (as if no Maximum Rate limitations were applicable) at the applicable contract rate described herein, because the applicable contract rate exceeds or has exceeded the Maximum Rate, then Company Borrower shall, upon the written demand of Agent or such BankAgent, pay to such BankAgent, in addition to interest otherwise required hereunder, on each interest payment date thereafter, the Excess Interest Amount (hereinafter defined) calculated as of such later interest payment date; provided, however, that in no event shall Company Borrower be required to pay, for any appropriate computation period, interest at a rate exceeding the Maximum Rate effective during such period. The term "Excess Interest Amount" shall mean, on any date, with respect to the Note of any BankNote, the amount by which (ia) the amount of all interest which would have accrued prior to such date on the principal of such Note the Notes (had the applicable contract rate(s) described herein at all times been in effect, without limitation by the Maximum Rate) exceeds (iib) the aggregate amount of interest actually paid to such Bank on such the Note on or prior to such date.