Common use of USURY PROVISION Clause in Contracts

USURY PROVISION. It is not the intention of any parties to this Loan Agreement to make an agreement in violation of the laws of any applicable jurisdiction relating to usury. Regardless of any provision of this Loan Agreement or of any other Loan Document, the Lender shall not be entitled to receive, collect or apply, as interest, charges, fees, penalties or additional amounts (collectively, referred to herein as "INTEREST") on any of the Loans or any other Obligation, any amount in excess of the Highest Lawful Rate. If under the laws of any applicable jurisdiction there is no legal limitation on the rate of Interest that may be charged with respect to an obligation owing to the Lender (including, without limitation, the outstanding principal amount of the Loan, unpaid interest with respect to the Loan or any other Obligations due and payable under any Loan Document), there shall be no maximum amount applicable to such obligation, notwithstanding any reference thereto herein or in any other Loan Document. If at any time the rate at which interest is payable to the Lender on the Loan or any other Obligation exceeds the Highest Lawful Rate, the Loan or other Obligation shall bear interest at the Highest Lawful Rate only but shall continue to bear interest at the Highest Lawful Rate until such time as the total amount of interest accrued on the Loan or other Obligation equals (but does not exceed) the total amount of interest which would have accrued thereon had there been no Highest Lawful Rate applicable thereto. If at the maturity or final payment of the Loan or other Obligation (whether at stated maturity, by acceleration or prepayment or otherwise) the total amount of interest which has then accrued or been paid thereon as provided above (the "COLLECTED INTEREST") is less than the total amount of interest which would have accrued thereon had there been no Highest Lawful Rate applicable thereto (the "UNRESTRICTED INTEREST"), then the Borrower shall, in addition to the Collected Interest, pay to the Lender an amount equal to (a) the lesser of the Unrestricted Interest owed or accrued for the benefit of the Lender and the total amount of interest which would have accrued thereon for the benefit of the Lender had the Loan or other Obligation at all times borne Interest at the Highest Lawful Rate, MINUS (b) the Collected Interest paid for the account of the Lender. This Section 3.8 shall control every provision of every agreement pertaining to the transactions contemplated by or contained in this Loan Agreement or any of the other Loan Documents and shall equally apply to any guaranty or other obligation of any Subsidiary of the Borrower or of any other Person under the Loan Documents as if such obligations were "Obligations" as defined herein.

USURY PROVISION. It is not the intention of any parties to this Loan Agreement to make an agreement in violation of the laws of any applicable jurisdiction relating to usury. Regardless of any provision of this Loan Agreement or of any other Loan Document, the Lender shall not be entitled to receive, collect or apply, as interest, charges, fees, penalties or additional amounts (collectively, referred to herein as "INTEREST") on any of the Loans or any other Obligation, any amount in excess of the Highest Lawful Rate. If under the laws of any applicable jurisdiction there is no legal limitation on the rate of Interest that may be charged with respect to an obligation owing to the Lender (including, without limitation, the outstanding principal amount of the Loan, unpaid interest with respect to the Loan or any other Obligations due and payable under any Loan Document), there shall be no maximum amount applicable to such obligation, notwithstanding any reference thereto herein or in any other Loan Document. If at any time the rate at which interest is payable to the Lender on the Loan or any other Obligation exceeds the Highest Lawful Rate, the Loan or other Obligation shall bear interest at the Highest Lawful Rate only but shall continue to bear interest at the Highest Lawful Rate until such time as the total amount of interest accrued on the Loan or other Obligation equals (but does not exceed) the total amount of interest which would have accrued thereon had there been no Highest Lawful Rate applicable thereto. If at the maturity or final payment of the Loan or other Obligation (whether at stated maturity, by acceleration or prepayment or otherwise) the total amount of interest which has then accrued or been paid thereon as provided above (the "COLLECTED INTEREST") is less than the total amount of interest which would have accrued thereon had there been no Highest Lawful Rate applicable thereto (the "UNRESTRICTED INTEREST"), then the Borrower shall, in addition to the Collected Interest, pay to the Lender an amount equal to (a) the lesser of the Unrestricted Interest owed or accrued for the benefit of the Lender and the total amount of interest which would have accrued thereon for the benefit of the Lender had the Loan or other Obligation at all times borne Interest at the Highest Lawful Rate, MINUS (b) the Collected Interest paid for the account of the Lender. This Section 3.8 shall control every provision of every agreement pertaining to the transactions contemplated by or contained in this Loan Agreement or any of the other Loan Documents and shall equally apply to any guaranty or other obligation of any Subsidiary of the Borrower or of any other Person under the Loan Documents as if such obligations were "Obligations" as defined herein.of

USURY PROVISION. It is not the intention of any parties to this Loan ----- --------- Agreement to make an agreement in violation of the laws of any applicable jurisdiction relating to usury. Regardless of any provision of this Loan Agreement or of Agreement, neither the Agent nor any other Loan Document, the Lender Bank shall not ever be entitled to receive, collect or apply, as interest, charges, fees, penalties or additional amounts (collectively, referred to herein as "INTEREST") interest on any of the Loans or any other ObligationLoans, any amount in excess of the Highest Lawful Ratemaximum amount permitted by applicable law. If under the laws of any applicable jurisdiction there is no legal limitation on the rate of Interest interest that may be charged with respect to an obligation Obligation owing to any Bank or the Lender Agent (including, without limitation, including the outstanding principal amount of the LoanLoans, unpaid interest with respect to the Loan any Loan, or any other Obligations due and payable under any Loan Document), there shall be no maximum amount applicable to such obligationObligation, notwithstanding any reference thereto herein or in any of the Loan Documents. The existence of a maximum amount for Obligations owing to any one Bank or the Agent shall not cause such maximum amount to apply to the Obligations owing to any other Loan DocumentBank or the Agent, the maximum amount being independently determined with respect to each Bank or the Agent. If at any time the rate at which interest is payable to any Bank or the Lender Agent on the any Loan or any other Obligation exceeds the Highest Lawful Ratemaximum amount, the such Loan or other Obligation shall bear interest at the Highest Lawful Rate maximum amount only but shall continue to bear interest at the Highest Lawful Rate maximum amount until such time as the total amount of interest accrued on the such Loan or other Obligation equals (but does not exceed) the total amount of interest which would have accrued thereon had there been no Highest Lawful Rate maximum amount applicable thereto. If at the maturity or final payment of the such Loan or other Obligation (whether at stated maturity, by acceleration or prepayment or otherwise) the total amount of interest which has then accrued or been paid thereon as provided above (the "COLLECTED INTERESTCollected Interest") is less than the total amount of interest which would have accrued thereon had there been no Highest Lawful Rate maximum amount applicable thereto (the "UNRESTRICTED INTERESTUnrestricted Interest"), then the Borrower shall, Company shall in addition to the Collected Interest, Interest pay to each Bank or (as the Lender case may be) the Agent an amount equal to (a) the lesser of the Unrestricted Interest owed or accrued for the benefit of such Bank or (as the Lender and case may be) the Agent or the total amount of interest which would have accrued thereon for the benefit of each Bank and the Lender Agent had the such Loan or other Obligation at all times borne Interest interest at the Highest Lawful Ratemaximum amount, MINUS minus (b) the Collected Interest paid for the account of each Bank and the LenderAgent). This Section 3.8 25 shall control every other provision of every agreement all agreements pertaining to the transactions contemplated by or contained in this Loan Agreement or any of and the other Loan Documents and shall equally apply to any guaranty or other obligation of any Subsidiary of the Borrower or of any other Person under the Loan Documents as if such obligations were "Obligations" as defined hereinDocuments.

USURY PROVISION. It is not the intention of any parties to this Loan ----- --------- Agreement to make an agreement in violation of the laws of any applicable jurisdiction relating to usury. Regardless of any provision of this Loan Agreement or of Agreement, neither the Agent nor any other Loan Document, the Lender Bank shall not ever be entitled to receive, collect or apply, as interest, charges, fees, penalties or additional amounts (collectively, referred to herein as "INTEREST") interest on any of the Loans or any other ObligationLoans, any amount in excess of the Highest Lawful Ratemaximum amount permitted by applicable law. If under the laws of any applicable jurisdiction there is no legal limitation on the rate of Interest interest that may be charged with respect to an obligation Obligation owing to any Bank or the Lender Agent (including, without limitation, including the outstanding principal amount of the LoanLoans, unpaid interest with respect to the Loan any Loan, or any other Obligations due and payable under any Loan Document), there shall be no maximum amount applicable to such obligationObligation, notwithstanding any reference thereto herein or in any of the Loan Documents. The existence of a maximum amount for Obligations owing to any one Bank or the Agent shall not cause such maximum amount to apply to the Obligations owing to any other Loan DocumentBank or the Agent, the maximum amount being independently determined with respect to each Bank or the Agent. If at any time the rate at which interest is payable to any Bank or the Lender Agent on the any Loan or any other Obligation exceeds the Highest Lawful Ratemaximum amount, the such Loan or other Obligation shall bear interest at the Highest Lawful Rate maximum amount only but shall continue to bear interest at the Highest Lawful Rate maximum amount until such time as the total amount of interest accrued on the such Loan or other Obligation equals (but does not exceed) the total amount of interest which would have accrued thereon had there been no Highest Lawful Rate maximum amount applicable thereto. If at the maturity or final payment of the such Loan or other Obligation (whether at stated maturity, by acceleration or prepayment or otherwise) the total amount of interest which has then accrued or been paid thereon as provided above (the "COLLECTED INTERESTCollected Interest") is less than the total amount of interest which would have accrued thereon had there been no Highest Lawful Rate maximum amount applicable thereto (the "UNRESTRICTED INTERESTUnrestricted Interest"), then the Borrower shall, Company shall in addition to the Collected Interest, Interest pay to each Bank or (as the Lender case may be) the Agent an amount equal to (a) the lesser of the Unrestricted Interest owed or accrued for the benefit of such Bank or (as the Lender and case may be) the Agent or the total amount of interest which would have accrued thereon for the benefit of each Bank and the Lender Agent had the such Loan or other Obligation at all times borne Interest interest at the Highest Lawful Ratemaximum amount, MINUS minus (b) the Collected Interest paid for the account of each Bank and the LenderAgent). This Section 3.8 24 shall control every other provision of every agreement all agreements pertaining to the transactions contemplated by or contained in this Loan Agreement or any of and the other Loan Documents and shall equally apply to any guaranty or other obligation of any Subsidiary of the Borrower or of any other Person under the Loan Documents as if such obligations were "Obligations" as defined hereinDocuments.