Common use of Usury Saving Clause Clause in Contracts

Usury Saving Clause. Notwithstanding any other provision herein, the aggregate interest rate charged with respect to any of the Obligations, including all charges or fees in connection therewith deemed in the nature of interest under applicable law shall not exceed the Highest Lawful Rate. If the rate of interest (determined without regard to the preceding sentence) under this Agreement at any time exceeds the Highest Lawful Rate, the outstanding amount of the Loans made hereunder shall bear interest at the Highest Lawful Rate until the total amount of interest due hereunder equals the amount of interest which would have been due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect. In addition, if when the Loans made hereunder are repaid in full the total interest due hereunder (taking into account the increase provided for above) is less than the total amount of interest which would have been due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect, then to the extent permitted by law, the Borrower shall pay to the Administrative Agent an amount equal to the difference between the amount of interest paid and the amount of interest which would have been paid if the Highest Lawful Rate had at all times been in effect. Notwithstanding the foregoing, it is the intention of Lenders and the Borrower to conform strictly to any applicable usury laws. Accordingly, if any Lender contracts for, charges, or receives any consideration which constitutes interest in excess of the Highest Lawful Rate, then any such excess shall be cancelled automatically and, if previously paid, shall at such Lender’s option be applied to the outstanding amount of the Loans made hereunder or be refunded to the Borrower.

Usury Saving Clause. Notwithstanding any other provision herein, the aggregate interest rate charged with respect to any of the Obligations, including all charges or fees in connection therewith deemed in the nature of interest under applicable law shall not exceed the Highest Lawful Rate. If the rate of interest (determined without regard to the preceding sentence) under this Agreement at any time exceeds the Highest Lawful Rate, the outstanding amount of the Loans made hereunder shall bear interest at the Highest Lawful Rate until the total amount of interest due hereunder equals the amount of interest which would have been due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect. In addition, if when the Loans made hereunder are repaid in full the total interest due hereunder (taking into account the increase provided for above) is less than the total amount of interest which would have been due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect, then to the extent permitted by law, the a Borrower shall pay to the Administrative Agent an amount equal to the difference between the amount of interest paid and the amount of interest which would have been paid if the Highest Lawful Rate had at all times been in effect. Notwithstanding the foregoing, it is the intention of Lenders and the a Borrower to conform strictly to any applicable usury laws. Accordingly, if any Lender contracts for, charges, or receives any consideration which constitutes interest in excess of the Highest Lawful Rate, then any such excess shall be cancelled automatically and, if previously paid, shall at such Lender’s option be applied to the outstanding amount of the Loans made hereunder or be refunded to the Borrower.

Usury Saving Clause. Notwithstanding It is the intent of the Companies, the other Obligors, the Lenders and the Agent to conform strictly to all applicable state and federal usury laws. All agreements between the Companies, the other Obligors, and the Agent and/or the Lenders whether now existing or hereafter arising and whether written or oral, are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration of the maturity hereof or otherwise, shall the amount contracted for, charged or received by the Agent and/or the Lenders for the use, forbearance, or detention of the money loaned hereunder or otherwise, or for the payment or performance of any covenant or obligation contained herein or in any other document evidencing, securing or pertaining to the Obligations evidenced hereby which may be legally deemed to be for the use, forbearance or detention of money, exceed the maximum amount which the Agent and the Lenders are legally entitled to contract for, charge or collect under applicable state or federal law. If from any circumstances whatsoever fulfillment of any provision hereinhereof or such other documents, at the aggregate time performance of such provision shall be due, shall involve transcending the limit of validity prescribed by law, then the obligation to be fulfilled shall be automatically reduced to the limit of such validity, and if from any such circumstance the Agent and/or the Lenders shall ever receive as interest rate charged or otherwise an amount in excess of the maximum that can be legally collected, then such amount which would be excessive interest shall be applied to the reduction of the principal indebtedness hereof and any other amounts due with respect to any the Obligations evidenced hereby, but not to the payment of interest and if such amount which would be excess interest exceeds the Obligations and all other non interest indebtedness described above, then such additional amount shall be refunded to the Companies. In determining whether or not all sums paid or agreed to be paid by the Companies for the use, forbearance or detention of the ObligationsObligations of the Companies to the Agent and/or the Lenders, including all charges or fees in connection therewith deemed in under any specific contingency, exceeds the nature of interest maximum amount permitted by applicable law, the Companies and the Agent and/or the Lenders shall to the maximum extent permitted under applicable law shall not exceed law, (a) treat all Obligations as but a single extension of credit, (b) characterize any nonprincipal payment as an expense, fee or premium rather than as sums paid or agreed to be paid by the Highest Lawful Rate. If Companies for the rate use, forbearance or detention of interest money, (determined without regard to c) exclude voluntary prepayments and the preceding sentenceeffect thereof, and (d) under this Agreement at any time exceeds the Highest Lawful Rateamortize, the outstanding amount of the Loans made hereunder shall bear interest at the Highest Lawful Rate until prorate, allocate and spread the total amount of interest due hereunder equals such sums paid or agreed to be paid by the amount Companies for the use, forbearance or detention of interest which would have been due hereunder if money throughout the stated rates entire contemplated term of interest set forth the Obligations in accordance with all legal limits. The terms and provisions of this Agreement had at section shall control and supersede every other provision hereof and all times been in effect. In addition, if when the Loans made hereunder are repaid in full the total interest due hereunder (taking into account the increase provided for above) is less than the total amount of interest which would have been due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect, then to the extent permitted by law, the Borrower shall pay to the Administrative Agent an amount equal to the difference other agreements between the amount of interest paid Companies and the amount of interest which would have been paid if Agent and/or the Highest Lawful Rate had at all times been in effect. Notwithstanding the foregoing, it is the intention of Lenders and the Borrower to conform strictly to any applicable usury laws. Accordingly, if any Lender contracts for, charges, or receives any consideration which constitutes interest in excess of the Highest Lawful Rate, then any such excess shall be cancelled automatically and, if previously paid, shall at such Lender’s option be applied to the outstanding amount of the Loans made hereunder or be refunded to the BorrowerLenders.

Usury Saving Clause. Notwithstanding any other provision herein, the aggregate interest rate charged with respect to any of the Obligations, including all charges or fees in connection therewith deemed in the nature of interest under applicable law shall not exceed the Highest Lawful Rate. If the rate of interest (determined without regard to the preceding sentence) under this Agreement at any time exceeds the Highest Lawful Rate, the outstanding amount of the Loans made hereunder shall bear interest at the Highest Lawful Rate until the total amount of interest due hereunder equals the amount of interest which would have been due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect. In addition, if when the Loans made hereunder are repaid in full the total interest due hereunder (taking into account the increase provided for above) is less than the total amount of interest which would have been due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect, then to the extent permitted by law, the a Borrower shall pay to the Administrative Agent an amount equal to the difference between the amount of interest paid and the amount of interest which would have been paid if the Highest Lawful Rate had at all times been in effect. Notwithstanding the foregoing, it is the intention of Lenders and the a Borrower to conform strictly to any applicable usury laws. 161 Accordingly, if any Lender contracts for, charges, or receives any consideration which constitutes interest in excess of the Highest Lawful Rate, then any such excess shall be cancelled automatically and, if previously paid, shall at such Lender’s option be applied to the outstanding amount of the Loans made hereunder or be refunded to the Borrower.

Usury Saving Clause. Notwithstanding any other provision hereinanything to the contrary provided in this Agreement, or elsewhere, the Lenders shall never be entitled to charge, receive or collect, nor shall amounts received by the Lenders be credited as interest so that the Lenders shall be paid by the Borrower, a sum greater than interest at the maximum nonusurious interest rate, if any, that at any time may be contracted for, charged, received, or collected on the indebtedness evidenced by the Notes under applicable law (the “Maximum Rate”). It is the intention of the Borrower and the Lenders that this Agreement, the other Documents and the Warrant comply with all applicable law. If the Lenders ever contract for, charge, receive, or collect, anything of value from the Borrower which is deemed to be interest under applicable law, and if the occurrence of any circumstance, event or contingency, should cause such interest to exceed the Maximum Rate, any such excess amount shall be applied to the reduction of the unpaid aggregate principal amount of the Notes owed to the Lenders by the Borrower and if the Notes are already paid in full, any remaining excess shall be paid to the Borrower. In determining whether or not interest rate charged paid or payable with respect to any of the ObligationsNotes exceeds the Maximum Amount, including all charges or fees in connection therewith deemed in the nature of interest under applicable law shall not exceed Borrower and the Highest Lawful Rate. If the rate of interest (determined without regard Lenders shall, to the preceding sentencemaximum extent permitted by applicable law, (i) under this Agreement at characterize any time exceeds the Highest Lawful Ratenonprincipal payment as an expense, the outstanding amount of the Loans made hereunder shall bear interest at the Highest Lawful Rate until fee or premium rather than as interest, (ii) amortize, prorate, allocate and spread the total amount of interest due hereunder equals throughout the amount full term of the Notes so that the actual rate of interest which would have been due hereunder if on account of such indebtedness is uniform throughout the stated rates term of the Notes and/or (iii) allocate interest set forth in this Agreement had at all times been in effect. In additionbetween portions of the Notes, if when the Loans made hereunder are repaid in full the total interest due hereunder (taking into account the increase provided for above) is less than the total amount of interest which would have been due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect, then to the extent end that no such portion shall bear interest at a rate greater than that permitted by applicable law, . The terms and provisions of this Section 11.01 shall control and supersede every other conflicting provision of all agreements between the Borrower shall pay to the Administrative Agent an amount equal to the difference between the amount of interest paid and the amount of interest which would have been paid if the Highest Lawful Rate had at all times been in effect. Notwithstanding the foregoing, it is the intention of Lenders and the Borrower to conform strictly to any applicable usury laws. Accordingly, if any Lender contracts for, charges, or receives any consideration which constitutes interest in excess of the Highest Lawful Rate, then any such excess shall be cancelled automatically and, if previously paid, shall at such Lender’s option be applied to the outstanding amount of the Loans made hereunder or be refunded to the BorrowerLenders.

Usury Saving Clause. Notwithstanding any other provision hereinanything to the contrary provided in this Agreement, or elsewhere, the Lender shall never be entitled to charge, receive or collect, nor shall amounts received by the Lender be credited as interest so that the Lender shall be paid by the Borrower, a sum greater than interest at the maximum nonusurious interest rate, if any, that at any time may be contracted for, charged, received, or collected on the indebtedness evidenced by the Note under applicable law (the "Maximum Rate"). It is the intention of the Borrower and the Lender that this Agreement, the other Documents and the Warrant comply with all applicable law. If the Lender ever contracts for, charges, receives, or collects, anything of value from the Borrower which is deemed to be interest under applicable law, and if the occurrence of any circumstance, event or contingency, should cause such interest to exceed the Maximum Rate, any such excess amount shall be applied to the reduction of the unpaid aggregate principal amount of the Note owed to the Lender by the Borrower and if the Note is already paid in full, any remaining excess shall be paid to the Borrower. In determining whether or not interest rate charged paid or payable with respect to any of the ObligationsNote exceeds the Maximum Amount, including all charges or fees in connection therewith deemed in the nature of interest under applicable law shall not exceed Borrower and the Highest Lawful Rate. If the rate of interest (determined without regard Lenders shall, to the preceding sentencemaximum extent permitted by applicable law, (i) under this Agreement at characterize any time exceeds the Highest Lawful Ratenonprincipal payment as an expense, the outstanding amount of the Loans made hereunder shall bear interest at the Highest Lawful Rate until fee or premium rather than as interest, (ii) amortize, prorate, allocate and spread the total amount of interest due hereunder equals throughout the amount full term of the Note so that the actual rate of interest which would have been due hereunder if on account of such indebtedness is uniform throughout the stated rates term of the Note and/or (iii) allocate interest set forth in this Agreement had at all times been in effect. In additionbetween portions of the Notes, if when the Loans made hereunder are repaid in full the total interest due hereunder (taking into account the increase provided for above) is less than the total amount of interest which would have been due hereunder if the stated rates of interest set forth in this Agreement had at all times been in effect, then to the extent end that no such portion shall bear interest at a rate greater than that permitted by applicable law, . The terms and provisions of this Section 10.01 shall control and supersede every other conflicting provision of all agreements between the Borrower shall pay to the Administrative Agent an amount equal to the difference between the amount of interest paid and the amount of interest which would have been paid if the Highest Lawful Rate had at all times been in effect. Notwithstanding the foregoing, it is the intention of Lenders and the Borrower to conform strictly to any applicable usury laws. Accordingly, if any Lender contracts for, charges, or receives any consideration which constitutes interest in excess of the Highest Lawful Rate, then any such excess shall be cancelled automatically and, if previously paid, shall at such Lender’s option be applied to the outstanding amount of the Loans made hereunder or be refunded to the BorrowerLenders.