Common use of Usury Savings Clause Applies Clause in Contracts

Usury Savings Clause Applies. Borrower and the Borrower-Related Parties agree that Lender has provided, and shall provide, separate and distinct consideration to Borrower for the Loan Expenses, and any other fees, expenses or charges provided for in this Agreement or any Loan Document and that the Loan Expenses and the Loan Administration Fee represent bona fide, third party fees and expenses. Borrower, the Borrower-Related Parties and Lender further agree that the Loan Expenses, the Loan Administration Fee and all other fees, expenses and charges provided for in this Agreement or any Loan Document are not, are not intended to be, and shall not be characterized as, interest or as compensation for the use, forbearance or detention of money. Despite the foregoing and notwithstanding anything else in this Agreement and the other Loan Documents to the contrary, if any Loan Expenses, Loan Administration Fees or other fees, expenses or charges provided for in this Agreement or any Loan Document or charged or chargeable to Borrower are determined to constitute interest that, when added to the interest charged under the Notes, would cause the aggregate interest charged under the Notes to exceed the Highest Lawful Rate, then Section 12.1 of this Agreement shall automatically apply to reduce the interest charged under the Notes so as not to exceed the Highest Lawful Rate.