Common use of USURY SAVINGS PROVISION Clause in Contracts

USURY SAVINGS PROVISION. Notwithstanding any provision of any Loan Document, Borrower shall not be required to pay interest at a rate or any fee or charge in an amount prohibited by applicable law. If interest or any fee or charge payable on any date would be in a prohibited amount, then such interest, fee or charge will be automatically reduced to the maximum amount that is not prohibited, and any interest, fee or charge for subsequent periods (to the extent not prohibited by applicable law) will be increased accordingly until Lender receives payment of the full amount of each such reduction. To the extent that any prohibited amount is actually received by Lender, then such amount will be automatically deemed to constitute a repayment of principal indebtedness hereunder.

USURY SAVINGS PROVISION. Notwithstanding any provision of any Loan DocumentDocument to the contrary, Borrower shall is not and will not be required to pay interest at a rate or any fee or charge in an amount prohibited by applicable law. If interest or any fee or charge payable to Lender on any date would be in a prohibited amount, then such interest, interest or fee or charge will be automatically reduced to the maximum amount that is not prohibited, and any interest, interest or fee or charge for subsequent periods (to the extent not prohibited by applicable lawprohibited) will be increased accordingly until Lender receives payment of the full amount of each such reduction. To the extent that any prohibited amount is actually received by Lender, then such amount will be automatically deemed to constitute a repayment of principal indebtedness hereunder.