Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 36 contracts
Samples: Credit Agreement (Berry Petroleum Corp), Credit Agreement (Berry Petroleum Corp), Amendment and Restatement Agreement (Hi-Crush Partners LP)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders Banks ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 17 contracts
Samples: Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties), Senior Unsecured Credit Agreement (LaSalle Hotel Properties), Senior Unsecured Credit Agreement (LaSalle Hotel Properties)
Usury Recapture. In As to each Lender, in the event the rate of interest chargeable under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Obligations owing to such Lender shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances such Obligations equals the amount of interest which would have been paid or accrued on the Advances such Obligations if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Advancessuch Obligations, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes as to any Lender is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable lawLegal Requirements, pay the Administrative Agent for the account of the such Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances Obligations owing to such Lender if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances such Obligations if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancessuch Obligations. In the event the Lenders any Lender ever receivereceives, collect collects or apply applies as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesObligations owing to it, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 8 contracts
Samples: 5 Year Credit Agreement (NOV Inc.), 5 Year Credit Agreement (National Oilwell Varco Inc), Credit Agreement (National Oilwell Varco Inc)
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Loans shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Loans equals the amount of interest which would have been paid or accrued on the Advances Loans if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesLoans, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Loans is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances Loans if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances Loans if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its AdvancesLoans. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesLoans, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 8 contracts
Samples: Credit Agreement (Extraction Oil & Gas, Inc.), Senior Secured Debtor in Possession Credit Agreement (Hi-Crush Inc.), Senior Secured Debtor in Possession Term Loan Credit Agreement (Hi-Crush Inc.)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 8 contracts
Samples: Credit Agreement, Senior Secured Term Loan Agreement (Seritage Growth Properties), Senior Unsecured Term Loan Agreement (Seritage Growth Properties)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or any other Loan Document at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement or applicable Loan Document had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable lawLegal Requirement, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 7 contracts
Samples: Credit Agreement (Penn Virginia Corp), Credit Agreement (Penn Virginia Corp), Master Assignment, Borrowing Base Increase Agreement, and Amendment No. 6 to Credit Agreement (Penn Virginia Corp)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or any other Credit Document at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement or applicable Credit Document had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable lawLegal Requirement, pay the Administrative Agent for the account of the applicable Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by lawapplicable Legal Requirement, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 6 contracts
Samples: Credit Agreement (Nine Energy Service, Inc.), Credit Agreement (Nine Energy Service, Inc.), Credit Agreement (Nine Energy Service, Inc.)
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable lawLegal Requirement, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 6 contracts
Samples: Credit Agreement (Aly Energy Services, Inc.), Credit Agreement (Aly Energy Services, Inc.), Credit Agreement (Aly Energy Services, Inc.)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders Banks ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 5 contracts
Samples: Credit Agreement (Arkansas Best Corp /De/), Credit Agreement (Arkansas Best Corp /De/), Credit Agreement (Arkansas Best Corp /De/)
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time (calculated after giving effect to all items charged which constitute “interest” under applicable laws, including fees and margin amounts, if applicable) is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 4 contracts
Samples: Credit Agreement (Quintana Energy Services Inc.), Credit Agreement (Quintana Energy Services Inc.), Credit Agreement (Quintana Energy Services Inc.)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time (calculated after giving effect to all items charged which constitute "interest" under applicable laws, including fees and margin amounts, if applicable) is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the each Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its AdvancesNotes. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the BorrowerBorrowers.
Appears in 4 contracts
Samples: Credit Agreement (Global Industries LTD), Credit Agreement (Global Industries LTD), Credit Agreement (Global Industries LTD)
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the applicable Borrower shall, to the extent permitted by applicable law, pay the applicable Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the applicable Borrower.
Appears in 4 contracts
Samples: Credit Agreement (NCS Multistage Holdings, Inc.), Credit Agreement (NCS Multistage Holdings, Inc.), Credit Agreement (NCS Multistage Holdings, Inc.)
Usury Recapture. In the event the rate of interest chargeable under --------------- this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders Banks ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 3 contracts
Samples: Credit Agreement (American General Hospitality Corp), Subordinate Unsecured Credit Agreement (American General Hospitality Corp), Senior Unsecured Credit Agreement (American General Hospitality Corp)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders Banks ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstandingoutstand- ing, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 2 contracts
Samples: Senior Unsecured Credit Agreement (Lasalle Hotel Properties), Senior Unsecured Credit Agreement (Lasalle Hotel Properties)
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time (calculated after giving affect to all items charged which constitute “interest” under applicable laws, including fees and margin amounts, if applicable) is greater than the Maximum Rate, the unpaid principal amount of the Revolving Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Revolving Advances equals the amount of interest which would have been paid or accrued on the Revolving Advances if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Revolving Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Revolving Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Revolving Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Revolving Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Revolving Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Revolving Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 2 contracts
Samples: Credit Agreement (Diamondback Energy Services, Inc.), Credit Agreement (Diamondback Energy Services, Inc.)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent Lender for the account of the Lenders Lender an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders Lender ever receivereceives, collect collects or apply applies as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Meristar Hospitality Corp), Revolving Credit Agreement (Meristar Hotels & Resorts Inc)
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time (calculated after giving affect to all items charged which constitute “interest” under applicable laws, including fees and margin amounts, if applicable) is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 2 contracts
Samples: Credit Agreement (Cig Wireless Corp.), Credit Agreement (Cig Wireless Corp.)
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable lawLegal Requirement, pay the Administrative Agent for the account of the applicable Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by lawapplicable Legal Requirement, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 2 contracts
Samples: Credit Agreement (Select Energy Services, Inc.), Credit Agreement (Select Energy Services, Inc.)
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Loans shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Loans equals the amount of interest which would have been paid or accrued on the Advances Loans if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesLoans, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Loans is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of ratably among the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances Loans if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances Loans if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its AdvancesLoans. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesLoans, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 2 contracts
Samples: Senior Secured Super Priority Debtor in Possession Credit Agreement (Carbo Ceramics Inc), Restructuring Support Agreement (Carbo Ceramics Inc)
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Applicable Borrower shall, to the extent permitted by applicable lawLegal Requirement, pay the Applicable Administrative Agent for the account of the applicable Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by lawapplicable Legal Requirement, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Applicable Borrower.
Appears in 2 contracts
Samples: Credit Agreement (Nine Energy Service, Inc.), Credit Agreement (Nine Energy Service, Inc.)
Usury Recapture. In the event that, but for limitations regarding the Maximum Rate set forth in this Agreement, the rate of interest otherwise chargeable under this Agreement at any time is greater than the Maximum Rate, then the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement Agreement, without giving effect to limitations regarding the Maximum Rate set forth in this Agreement, had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and on the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement Agreement, without giving effect to limitations regarding the Maximum Rate set forth in this Agreement, had, at all times, been in effect, then the Borrower Borrowers shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its the Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its the Advances if the rates of interest set forth in this Agreement Agreement, without giving effect to limitations regarding the Maximum Rate set forth in this Agreement, had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its the Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the BorrowerBorrowers.
Appears in 1 contract
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Loans shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Loans equals the amount of interest which would have been paid or accrued on the Advances Loans if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesLoans, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Loans is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (ia) the lesser of (Ai) the amount of interest which would have been charged on its Advances Loans if the Maximum Rate had, at all times, been in effect and (Bii) the amount of interest which would have accrued on its Advances Loans if the rates of interest set forth in this Agreement had at all times been in effect and (iib) the amount of interest actually paid under this Agreement on its AdvancesLoans. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesLoans, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Samples: Credit Agreement (Trans Energy Inc)
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time (calculated after giving effect to all items charged which constitute “interest” under applicable Legal Requirements, including fees and margin amounts, if applicable) is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the each Borrower shall, to the extent permitted by applicable lawLegal Requirements, pay the Administrative Agent for the account of the Revolving Credit Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Revolving Credit Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall promptly be paid to the Borrowerapplicable Borrower and such Revolving Credit Lenders shall provide the applicable Borrower a reasonably detailed written explanation of the nature and amount of such excess.
Appears in 1 contract
Usury Recapture. In the event the rate of interest chargeable under this --------------- Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders Banks ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Samples: Credit Agreement (American General Hospitality Corp)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower Obligors shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the stated rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders Banks ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the BorrowerObligors.
Appears in 1 contract
Samples: Credit Agreement (Mesa Inc)
Usury Recapture. In the event the rate RATE of interest chargeable under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Samples: Senior Secured Credit Agreement (Interstate Hotels & Resorts Inc)
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Loans shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Loans equals the amount of interest which would have been paid or accrued on the Advances Loans if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesLoans, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Loans is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative DIP Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances Loans if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances Loans if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its AdvancesLoans. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesLoans, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Samples: Debtor in Possession Credit Agreement (Extraction Oil & Gas, Inc.)
Usury Recapture. In the event the rate of interest chargeable --------------- under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders Banks ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Samples: Senior Unsecured Credit Agreement (Lasalle Hotel Properties)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the BorrowerNotes.
Appears in 1 contract
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and or (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders Banks ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Usury Recapture. In the event that, but for limitations regarding the Maximum Rate set forth in this Agreement, the rate of interest otherwise chargeable under this Agreement at any time is greater than the Maximum Rate, then the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement Agreement, without giving effect to limitations regarding the Maximum Rate set forth in this Agreement, had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and on the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement Agreement, without giving effect to limitations regarding the Maximum Rate set forth in this Agreement, had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its the Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its the Advances if the rates of interest set forth in this Agreement Agreement, without giving effect to limitations regarding the Maximum Rate set forth in this Agreement, had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its the Advances. In the event the Lenders Banks ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, within 10 days of demand from the Agent, pay to the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders Banks ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Samples: Credit Agreement (Valhi Inc /De/)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time (calculated after giving effect to all items charged which constitute "interest" under applicable laws, including fees and margin amounts, if applicable) is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its AdvancesNotes. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time (calculated after giving affect to all items charged which constitute “interest” under applicable laws, including fees and margin amounts, if applicable) is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the *Information marked with an asterisk herein has been omitted and filed separately with the Commission pursuant to a request for confidential treatment. amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable lawLegal Requirement, pay the Administrative Agent for the account of the applicable Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by lawapplicable Legal Requirement, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Loans shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Loans equals the amount of interest which would have been paid or accrued on the Advances Loans if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesLoans, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Loans is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (ia) the lesser of (Ai) the amount of interest which would have been charged on its Advances Loans if the Maximum Rate had, at all times, been in effect and (Bii) the amount of interest which would have accrued on its Advances Loans if the rates of interest set forth in this Agreement had at all times been in effect and (iib) the amount of interest actually paid under this Agreement on its AdvancesLoans. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesLoans, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Samples: Credit Agreement (Hi-Crush Inc.)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Term Notes at any time (calculated after giving affect to all items charged which constitute "interest" under applicable laws, including fees and margin amounts, if applicable) is greater than the Maximum Rate, the unpaid principal amount of the Advances Term Loans shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Term Loans equals the amount of interest which would have been paid or accrued on the Advances Term Loans if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesTerm Loans, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Term Loans is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Term Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances Term Loans if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances Term Loans if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its AdvancesTerm Loans. In the event the Term Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesTerm Loans, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Usury Recapture. In the event that, but for limitations regarding the Maximum Rate set forth in this Agreement, the rate of interest otherwise chargeable under this Agreement at any time is greater than the Maximum Rate, then the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement Agreement, without giving effect to limitations regarding the Maximum Rate set forth in this Agreement, had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and on the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement Agreement, without giving effect to limitations regarding the Maximum Rate set forth in this Agreement, had, at all times, been in effect, then the Borrower Borrowers shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its the Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its the Advances if the rates of interest set forth in this Agreement Agreement, without giving effect to limitations regarding the Maximum Rate set forth in this Agreement, had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its the Advances. In the event the Lenders Banks ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the BorrowerBorrowers.
Appears in 1 contract
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Loans shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Loans equals the amount of interest which would have been paid or accrued on the Advances Loans if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment Payment in full Full of the AdvancesLoans, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Loans is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable lawLegal Requirement, pay the Administrative Agent for the account of the applicable Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances Loans if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances Loans if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its AdvancesLoans. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by lawapplicable Legal Requirement, be applied to the reduction of the principal balance of the AdvancesLoans, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Usury Recapture. In the event the rate of interest chargeable under this Agreement or any other Credit Document at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement or applicable Credit Document had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable lawLegal Requirement, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
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Samples: Credit Agreement (Steel Excel Inc.)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders Banks ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstandingoutstand ing, such excess or part thereof remaining shall be paid to the Borrower.
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Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time (calculated after giving affect to all items charged which constitute “interest” under applicable laws, including fees and margin amounts, if applicable) is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the each Borrower shall, to the extent permitted by applicable law, pay the Administrative Facility Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
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Usury Recapture. In the event the rate of interest chargeable under --------------- this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
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Samples: Senior Secured Credit Agreement (Meristar Hospitality Corp)
Usury Recapture. In the event the If during any period a rate of interest chargeable contracted for under this Agreement at any time (calculated after giving affect to all items charged which constitute “interest” under applicable laws, including fees and margin amounts, if applicable) is greater than the Maximum RateRate for the period of time in which such contracted rate would otherwise be in effect, the unpaid principal amount of the Revolving Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances such principal amount equals the total amount of interest which would have been paid or accrued on the Advances such principal amount if the stated rates such contract rate of interest set forth in this Agreement had at all times been in effecteffect for such applicable period. In the event, upon payment in full of the Revolving Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Revolving Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Revolving Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Revolving Advances if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Revolving Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Revolving Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
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Samples: Revolving Credit Agreement (Seahawk Drilling, Inc.)
Usury Recapture. In the event the rate of interest chargeable --------------- under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Samples: Senior Secured Credit Agreement (Meristar Hotels & Resorts Inc)
Usury Recapture. In the event the rate of interest chargeable under this Agreement at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances equals the amount of interest which would have been paid or accrued on the Advances if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the Advances, the total amount of interest paid or accrued under the terms of this Agreement and the Advances is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances if the rates NY\6260051.12 of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its Advances. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the Advances, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
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Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time (calculated after giving effect to all items charged which constitute "interest" under applicable laws, including fees and margin amounts, if applicable) is greater than the Maximum Rate, the unpaid principal amount of the Advances Loans shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Loans equals the amount of interest which would have been paid or accrued on the Advances Loans if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesLoans, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Loans is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Administrative Agent for the account of the Lenders an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances Loans if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances Loans if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid under this Agreement on its AdvancesLoans. In the event the Lenders ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesLoans, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
Appears in 1 contract
Samples: Revolving Credit Agreement (McDermott International Inc)
Usury Recapture. In the event the rate of interest chargeable under this Agreement or the Notes at any time is greater than the Maximum Rate, the unpaid principal amount of the Advances Notes shall bear interest at the Maximum Rate until the total amount of interest paid or accrued on the Advances Notes equals the amount of interest which would have been paid or accrued on the Advances Notes if the stated rates of interest set forth in this Agreement had at all times been in effect. In the event, upon payment in full of the AdvancesNotes, the total amount of interest paid or accrued under the terms of this Agreement and the Advances Notes is less than the total amount of interest which would have been paid or accrued if the rates of interest set forth in this Agreement had, at all times, been in effect, then the Borrower shall, to the extent permitted by applicable lawLegal Requirements, pay the Administrative Agent for the account of the Lenders Banks an amount equal to the difference between (i) the lesser of (A) the amount of interest which would have been charged on its Advances the Notes if the Maximum Rate had, at all times, been in effect and (B) the amount of interest which would have accrued on its Advances the Notes if the rates of interest set forth in this Agreement had at all times been in effect and (ii) the amount of interest actually paid or accrued under this Agreement on its Advancesthe Notes. In the event the Lenders Banks ever receive, collect or apply as interest any sum in excess of the Maximum Rate, such excess amount shall, to the extent permitted by law, be applied to the reduction of the principal balance of the AdvancesNotes, and if no such principal is then outstanding, such excess or part thereof remaining shall be paid to the Borrower.
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