Common use of Severability; Certificate Rate Limitation Clause in Contracts

Severability; Certificate Rate Limitation. (a) If any one or more of the covenants, agreements, provisions or terms of this Series Supplement or any Series [ ] Certificate shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Series Supplement and shall in no way affect the validity or enforceability of the other provisions of this Series Supplement or of such Series [ ] Certificate. (b) Notwithstanding anything in this Series Supplement, the Agreement, or any Series [ ] Certificate to the contrary, if at any time any Certificate Rate, together with all fees, charges and other amounts which are treated as interest on any Series [ ] Certificate under applicable law (collectively the "Charges"), shall exceed the maximum lawful rate (the "Maximum Rate") which may be contracted for, charged, taken, received or reserved by the Series [ ] Certificateholders in accordance with the terms of this Series Supplement, the Agreement or any Series [ ] Certificate, then such Certificate Rate, together with all Charges payable in respect of the Series [ ] Certificate, shall be limited to the Maximum Rate and, to the extent lawful, such Certificate Rate and Charges that would have been payable in respect of the Series [ ] Certificates, but were not payable as a result of the operation of this Section, shall be cumulated and the Certificate Rate and Charges payable to the Series [ ] Certificateholders in respect of other periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount shall have been received by the Series [ ] Certificateholders.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Distribution Financial Services Floorplan Master Trust), Pooling and Servicing Agreement (Distribution Financial Services Floorplan Master Trust)

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Severability; Certificate Rate Limitation. (a) If any one or more of the covenants, agreements, provisions or terms of this Series Supplement or any Series [ ] Certificate Purchase Agreement shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Series Supplement Certificate Purchase Agreement and shall in no way affect the validity or enforceability of the other provisions of this Series Supplement Certificate Purchase Agreement or of such the Series [ ] Certificate1999-1 Certificates. (b) Notwithstanding anything in this Series SupplementCertificate Purchase Agreement, the Agreement, other Series Documents or any Series [ ] 1999-1 Certificate to the contrary, if at any time any Certificate Rate, together with all fees, charges and other amounts which are treated as interest on any the Series [ ] Certificate 1999-1 Certificates, under applicable law (collectively the "Charges"), shall exceed the maximum lawful rate (the "Maximum Rate") which may be contracted for, charged, taken, received or reserved by the Series [ ] 1999-1 Certificateholders in accordance with the terms of this Series SupplementCertificate Purchase Agreement, the Agreement other Series Documents or any Series [ ] 1999-1 Certificate, then such Certificate Rate, together with all Charges payable in respect of the Series [ ] Certificate1999-1 Certificates, shall be limited to the Maximum Rate and, to the extent lawful, such Certificate Rate and Charges that would have been payable in respect of the Series [ ] 1999-1 Certificates, but were not payable as a result of the operation of this Section, shall be cumulated and the Certificate Rate and Charges payable to the Series [ ] 1999-1 Certificateholders in respect of other periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount shall have been received by the Series [ ] 1999-1 Certificateholders.

Appears in 1 contract

Samples: Certificate Purchase Agreement (Deutsche Floorplan Receivables L P)

Severability; Certificate Rate Limitation. (a) If any one or more of the covenants, agreements, provisions or terms of this Series Supplement or any Series [ ] 2000-1 Certificate shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Series Supplement and shall in no way affect the validity or enforceability of the other provisions of this Series Supplement or of such Series [ ] 2000-1 Certificate. (b) Notwithstanding anything in this Series Supplement, the Agreement, or any Series [ ] 2000-1 Certificate to the contrary, if at any time any Certificate Rate, together with all fees, charges and other amounts which are treated as interest on any Series [ ] 2000-1 Certificate under applicable law (collectively the "Charges"), shall exceed the maximum lawful rate (the "Maximum Rate") which may be contracted for, charged, taken, received or reserved by the Series [ ] 2000-1 Certificateholders in accordance with the terms of this Series Supplement, the Agreement or any Series [ ] 2000-1 Certificate, then such Certificate Rate, together with all Charges payable in respect of the Series [ ] 2000-1 Certificate, shall be limited to the Maximum Rate and, to the extent lawful, such Certificate Rate and Charges that would have been payable in respect of the Series [ ] 2000-1 Certificates, but were not payable as a result of the operation of this Section, shall be cumulated and the Certificate Rate and Charges payable to the Series [ ] 2000-1 Certificateholders in respect of other periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount shall have been received by the Series [ ] 2000-1 Certificateholders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P)

Severability; Certificate Rate Limitation. (a) If any one or more of the covenants, agreements, provisions or terms of this Series Supplement or any Series [ ] 1999-1 Certificate shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Series Supplement and shall in no way affect the validity or enforceability of the other provisions of this Series Supplement or of such Series [ ] 1999-1 Certificate. (b) Notwithstanding anything in this Series Supplement, the Pooling and Servicing Agreement, the Certificate Purchase Agreement or any Series [ ] 1999-1 Certificate to the contrary, if at any time any Certificate Rate, together with all fees, charges and other amounts which are treated as interest on any the Series [ ] Certificate 1999-1 Certificates under applicable law (collectively the "Charges"), shall exceed the maximum lawful rate (the "Maximum Rate") which may be contracted for, charged, taken, received or reserved by the Series [ ] 1999-1 Certificateholders in accordance with the terms of this Series Supplement, the Pooling and Servicing Agreement, the Certificate Purchase Agreement or any Series [ ] 1999-1 Certificate, then such Certificate Rate, together with all Charges payable in respect of the Series [ ] Certificate1999-1 Certificates, shall be limited to the Maximum Rate and, to the extent lawful, such Certificate Rate and Charges that would have been payable in respect of the Series [ ] 1999-1 Certificates, but were not payable as a result of the operation of this Section, shall be cumulated and the Certificate Rate and Charges payable to the Series [ ] 1999-1 Certificateholders in respect of other periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount shall have been received by the Series [ ] 1999-1 Certificateholders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P)

Severability; Certificate Rate Limitation. (a) If any one or more of the covenants, agreements, provisions or terms of this Series Supplement or any Series [ ] 2003-2 Certificate shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Series Supplement and shall in no way affect the validity or enforceability of the other provisions of this Series Supplement or of such Series [ ] 2003-2 Certificate. (b) Notwithstanding anything in this Series Supplement, the Agreement, or any Series [ ] 2003-2 Certificate to the contrary, if at any time any Certificate Rate, together with all fees, charges and other amounts which are treated as interest on any Series [ ] 2003-2 Certificate under applicable law (collectively the "Charges"), shall exceed the maximum lawful rate (the "Maximum Rate") which may be contracted for, charged, taken, received or reserved by the Series [ ] 2003-2 Certificateholders in accordance with the terms of this Series Supplement, the Agreement or any Series [ ] 2003-2 Certificate, then such Certificate Rate, together with all Charges payable in respect of the Series [ ] 2003-2 Certificate, shall be limited to the Maximum Rate and, to the extent lawful, such Certificate Rate and Charges that would have been payable in respect of the Series [ ] 2003-2 Certificates, but were not payable as a result of the operation of this Section, shall be cumulated and the Certificate Rate and Charges payable to the Series [ ] 2003-2 Certificateholders in respect of other periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount shall have been received by the Series [ ] 2003-2 Certificateholders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CDF Financing LLC)

Severability; Certificate Rate Limitation. (a) If any one or more of the covenants, agreements, provisions or terms of this Series Supplement or any the Series [ ] 2004-NTC Certificate shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Series Supplement and shall in no way affect the validity or enforceability of the other provisions of this Series Supplement or of such the Series [ ] 2004-NTC Certificate. (b) Notwithstanding anything in this Series Supplement, the Agreement, or any the Series [ ] 2004-NTC Certificate to the contrary, if at any time any Certificate Rate, together with all fees, charges and other amounts which are treated as interest on any the Series [ ] 2004-NTC Certificate under applicable law (collectively the "Charges"), shall exceed the maximum lawful rate (the "Maximum Rate") which may be contracted for, charged, taken, received or reserved by the Series [ ] Certificateholders 2004-NTC Certificateholder in accordance with the terms of this Series Supplement, the Agreement or any the Series [ ] 2004-NTC Certificate, then such the Certificate Rate, together with all Charges payable in respect of the Series [ ] 2004-NTC Certificate, shall be limited to the Maximum Rate and, to the extent lawful, such Certificate Rate and Charges that would have been payable in respect of the Series [ ] Certificates2004-NTC Certificate, but were not payable as a result of the operation of this Section, shall be cumulated and the Certificate Rate and Charges payable to the Series [ ] Certificateholders 2004-NTC Certificateholder in respect of other periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount shall have been received by the Series [ ] Certificateholders2004-NTC Certificateholder.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CDF Funding, Inc.)

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Severability; Certificate Rate Limitation. (a) If any one or more of the covenants, agreements, provisions or terms of this Series Supplement or any Series [ ] 2000-3 Certificate shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Series Supplement and shall in no way affect the validity or enforceability of the other provisions of this Series Supplement or of such Series [ ] 2000-3 Certificate. (b) Notwithstanding anything in this Series Supplement, the Agreement, or any Series [ ] 2000-3 Certificate to the contrary, if at any time any Certificate Rate, together with all fees, charges and other amounts which are treated as interest on any Series [ ] 2000-3 Certificate under applicable law (collectively the "Charges"), shall exceed the maximum lawful rate (the "Maximum Rate") which may be contracted for, charged, taken, received or reserved by the Series [ ] 2000-3 Certificateholders in accordance with the terms of this Series Supplement, the Agreement or any Series [ ] 2000-3 Certificate, then such Certificate Rate, together with all Charges payable in respect of the Series [ ] 2000-3 Certificate, shall be limited to the Maximum Rate and, to the extent lawful, such Certificate Rate and Charges that would have been payable in respect of the Series [ ] 2000-3 Certificates, but were not payable as a result of the operation of this Section, shall be cumulated and the Certificate Rate and Charges payable to the Series [ ] 2000-3 Certificateholders in respect of other periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount shall have been received by the Series [ ] 2000-3 Certificateholders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Distribution Financial Services Floorplan Master Trust)

Severability; Certificate Rate Limitation. (a) If any one or more of the covenants, agreements, provisions or terms of this Series Supplement or any Series [ ] 2000-2 Certificate shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Series Supplement and shall in no way affect the validity or enforceability of the other provisions of this Series Supplement or of such Series [ ] 2000-2 Certificate. (b) Notwithstanding anything in this Series Supplement, the Agreement, or any Series [ ] 2000-2 Certificate to the contrary, if at any time any Certificate Rate, together with all fees, charges and other amounts which are treated as interest on any Series [ ] 2000-2 Certificate under applicable law (collectively the "Charges"), shall exceed the maximum lawful rate (the "Maximum Rate") which may be contracted for, charged, taken, received or reserved by the Series [ ] 2000-2 Certificateholders in accordance with the terms of this Series Supplement, the Agreement or any Series [ ] 2000-2 Certificate, then such Certificate Rate, together with all Charges payable in respect of the Series [ ] 2000-2 Certificate, shall be limited to the Maximum Rate and, to the extent lawful, such Certificate Rate and Charges that would have been payable in respect of the Series [ ] 2000-2 Certificates, but were not payable as a result of the operation of this Section, shall be cumulated and the Certificate Rate and Charges payable to the Series [ ] 2000-2 Certificateholders in respect of other periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount shall have been received by the Series [ ] 2000-2 Certificateholders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P)

Severability; Certificate Rate Limitation. (a) If any one or more of the covenants, agreements, provisions or terms of this Series Supplement or any Series [ ] 2003-1 Certificate shall for any reason whatsoever be held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Series Supplement and shall in no way affect the validity or enforceability of the other provisions of this Series Supplement or of such Series [ ] 2003-1 Certificate. (b) Notwithstanding anything in this Series Supplement, the Agreement, or any Series [ ] 2003-1 Certificate to the contrary, if at any time any Certificate Rate, together with all fees, charges and other amounts which are treated as interest on any Series [ ] 2003-1 Certificate under applicable law (collectively the "Charges"), shall exceed the maximum lawful rate (the "Maximum Rate") which may be contracted for, charged, taken, received or reserved by the Series [ ] 2003-1 Certificateholders in accordance with the terms of this Series Supplement, the Agreement or any Series [ ] 2003-1 Certificate, then such Certificate Rate, together with all Charges payable in respect of the Series [ ] 2003-1 Certificate, shall be limited to the Maximum Rate and, to the extent lawful, such Certificate Rate and Charges that would have been payable in respect of the Series [ ] 2003-1 Certificates, but were not payable as a result of the operation of this Section, shall be cumulated and the Certificate Rate and Charges payable to the Series [ ] 2003-1 Certificateholders in respect of other periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount shall have been received by the Series [ ] 2003-1 Certificateholders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CDF Financing LLC)

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