Common use of Spreading of Interest Clause in Contracts

Spreading of Interest. Due to irregular periodic balances of principal, the variable nature of the interest rate, or prepayment, the total interest that will accrue under this Agreement cannot be determined in advance. Lender does not intend to contract for, charge or receive more than the maximum rate permitted by applicable state or federal law (the “Maximum Lawful Rate”) or the maximum amount permitted by applicable state or federal law (the “Maximum Lawful Amount”), and to prevent such an occurrence Lender and Borrower agree that all amounts of interest, whenever contracted for, charged or received by Lender, with respect to the Obligations, will be spread, prorated or allocated over the full period of time the Obligations are unpaid, including the period of any renewal or extension thereof. If the maturity of the Obligations is accelerated for any reason whether as a result of an Event of Default or otherwise prior to the full stated term, the total amount of interest contracted for, charged or received to the time of such demand shall be spread, prorated or allocated along with any interest thereafter accruing over the full period of time that the Obligations thereafter remain unpaid for the purpose of determining if such interest exceeds the Maximum Lawful Amount.

Spreading of Interest. Due to Because of the possibility of irregular periodic balances of principal, the variable fluctuating nature of the interest rate, or prepaymentpremature payment, the total interest that will accrue under this Agreement cannot be determined in advance. Lender does Lenders do not intend to contract for, charge or receive more than the maximum rate Maximum Lawful Rate or Maximum Lawful Amount permitted by applicable state or federal law (the “Maximum Lawful Rate”) or the maximum amount permitted by applicable state or federal law (the “Maximum Lawful Amount”)law, and to prevent such an occurrence Lender Lenders and Servicing Agent and Borrower agree that all amounts of interest, whenever contracted for, charged or received by LenderLenders or Servicing Agent, with respect to the Obligationsloan of money evidenced by the Loan Documents, will shall be spread, prorated or allocated over the full period of time the Obligations are unpaid, including the period of any renewal or extension thereof. If the maturity of the Obligations is accelerated for any reason whether as a result of a lawsuit or an Event of Default or otherwise prior to the full stated term, the total amount of interest contracted for, charged or received to the time of such demand shall be spread, prorated or allocated along with any interest thereafter accruing over the full period of time that the Obligations thereafter remain unpaid for the purpose of determining if such interest exceeds the Maximum Lawful Amount.

Spreading of Interest. Due to Because of the possibility of irregular periodic balances of principal, the variable fluctuating nature of the interest rate, or prepaymentpremature payment, the total interest that will accrue under this Agreement cannot be determined in advance. Lender Bank does not intend to contract for, charge or receive more than the maximum rate Maximum Lawful Rate or Maximum Lawful Amount permitted by applicable state or federal law (the “Maximum Lawful Rate”) or the maximum amount permitted by applicable state or federal law (the “Maximum Lawful Amount”)law, and and, to prevent such an occurrence Lender occurrence, Bank and Borrower agree that all amounts of interest, whenever contracted for, charged or received by LenderBank, with respect to the Obligationsloan of money evidenced by the Loan Documents, will shall be spread, prorated or allocated over the full period of time the Obligations are unpaid, including the period of any renewal or extension thereof. If the maturity of the Obligations is accelerated for any reason whether as a result of lawsuit or an Event of Default or otherwise prior to the full stated term, the total amount of interest contracted for, charged or received to the time of such demand shall be spread, prorated or allocated along with any interest thereafter accruing over the full period of time that the Obligations thereafter remain unpaid for the purpose of determining if such interest exceeds the Maximum Lawful Amount.

Spreading of Interest. Due to Because of the possibility of irregular periodic balances of principal, the variable fluctuating nature of the interest rate, or prepaymentpremature payment, the total interest that will accrue under this Agreement cannot be determined in advance. Lender Bank does not intend to contract for, for charge or receive more than the maximum rate Maximum Lawful Rate or Maximum Lawful Amount permitted by applicable state or federal law (the “Maximum Lawful Rate”) or the maximum amount permitted by applicable state or federal law (the “Maximum Lawful Amount”)law, and to prevent such an occurrence Lender Bank and Borrower agree that all amounts of interest, whenever contracted for, charged or received by LenderBank, with respect to the Obligationsloan of money evidenced by the Loan Documents, will shall be spread, prorated or allocated over the full period of time the Obligations are unpaid, including the period of any renewal or extension thereof. If the maturity of the Obligations is accelerated for any reason whether as a result of lawsuit or an Event of Default or otherwise prior to the full stated term, the total amount of interest contracted for, charged or received to the time of such demand shall be spread, prorated or allocated along with any interest thereafter accruing over the full period of time that the Obligations thereafter remain unpaid for the purpose of determining if such interest exceeds the Maximum Lawful Amount.

Spreading of Interest. Due to Because of the possibility of irregular periodic balances of principal, the variable fluctuating nature of the interest rate, or prepaymentpremature payment, the total interest that will accrue under this Agreement cannot be determined in advance. Lender Bank does not intend to contract for, for charge or receive more than the maximum rate Maximum Lawful Rate or Maximum Lawful Amount permitted by applicable state or federal law (the “Maximum Lawful Rate”) or the maximum amount permitted by applicable state or federal law (the “Maximum Lawful Amount”)law, and to prevent such an occurrence Lender Bank and Borrower agree that all amounts of interest, whenever contracted for, charged or received by LenderBank, with respect to the Obligationsloan of money evidenced by the Loan EXHIBIT 10.13 Documents, will shall be spread, prorated or allocated over the full period of time the Obligations are unpaid, including the period of any renewal or extension thereof. If the maturity of the Obligations is accelerated for any reason whether as a result of lawsuit or an Event of Default or otherwise prior to the full stated term, the total amount of interest contracted for, charged or received to the time of such demand shall be spread, prorated or allocated along with any interest thereafter accruing over the full period of time that the Obligations thereafter remain unpaid for the purpose of determining if such interest exceeds the Maximum Lawful Amount.

Spreading of Interest. Due to irregular periodic balances of principal, the variable nature of the interest rate, or prepayment, the total interest that will accrue under this Agreement cannot be determined in advance. Lender Bank does not intend to contract for, charge or receive more than the maximum rate permitted by applicable state or federal law (the “Maximum Lawful Rate”) or the maximum amount permitted by applicable state or federal law (the “Maximum Lawful Amount”), and to prevent such an occurrence Lender Bank and Borrower agree that all amounts of interest, whenever contracted for, charged or received by LenderBank, with respect to the Obligations, will be spread, prorated or allocated over the full period of time the Obligations are unpaid, including the period of any renewal or extension thereof. If the maturity of the Obligations is accelerated for any reason whether as a result of an Event of Default or otherwise prior to the full stated term, the total amount of interest contracted for, charged or received to the time of such demand shall be spread, prorated or allocated along with any interest thereafter accruing over the full period of time that the Obligations thereafter remain unpaid for the purpose of determining if such interest exceeds the Maximum Lawful Amount.

Spreading of Interest. Due to Because of the possibility of irregular periodic balances of principal, the variable fluctuating nature of the interest rate, or prepaymentpremature payment, the total interest that will accrue under this Agreement cannot be determined in advance. Lender Bank does not intend to contract for, charge or receive more than the maximum rate Maximum Lawful Rate or Maximum Lawful Amount permitted by applicable state or federal law (the “Maximum Lawful Rate”) or the maximum amount permitted by applicable state or federal law (the “Maximum Lawful Amount”)law, and to prevent such an occurrence Lender Bank and Borrower agree that all amounts of interest, whenever contracted for, charged or received by LenderBank, with respect to the Obligationsloan of money evidenced by the Loan Documents, will shall be spread, prorated or allocated over the full period of time the Obligations are unpaid, including the period of any renewal or extension thereof. If the maturity of the Obligations is accelerated for any reason whether as a result of lawsuit or an Event of Default or otherwise prior to the full stated term, the total amount of interest contracted for, charged or received to the time of such demand shall be spread, prorated or allocated along with any interest thereafter accruing over the full period of time that the Obligations thereafter remain unpaid for the purpose of determining if such interest exceeds the Maximum Lawful Amount.