Maximum Rate definition

Maximum Rate shall have the meaning assigned to such term in Section 9.09.
Maximum Rate has the meaning specified in Section 10.10.
Maximum Rate shall have the meaning ascribed to such term in Section 5.17.

Examples of Maximum Rate in a sentence

  • If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower.

  • If under any circumstances whatsoever, interest in excess of the Maximum Rate is paid by the Company to the Buyer with respect to indebtedness evidenced by this Agreement, the Note and any document, agreement or instrument contemplated thereby, such excess shall be applied by the Buyer to the unpaid principal balance of any such indebtedness or be refunded to the Company, the manner of handling such excess to be at the Buyer’s election.

  • If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrowers.

  • It is agreed that if the maximum contract rate of interest allowed by applicable law and applicable to the Note is increased or decreased by statute or any official governmental action subsequent to the Issue Date, the new maximum contract rate of interest allowed by law will be the Maximum Rate applicable to the Note from the effective date thereof forward, unless such application is precluded by applicable law.

  • In determining whether the interest contracted for, charged, or received by an Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder.


More Definitions of Maximum Rate

Maximum Rate shall have the meaning provided in Section 12.20.
Maximum Rate shall have the meaning assigned to such term in Section 2.3.
Maximum Rate has the meaning provided in Section 11.23.
Maximum Rate means the maximum nonusurious interest rate under applicable law.
Maximum Rate has the meaning specified in Section 3.3.
Maximum Rate has the meaning given to such term in Section 8.13.
Maximum Rate. With respect to any adjustable rate Mortgage Loan and any Due Period, the maximum Mortgage Interest Rate that may be charged the borrower under the related Mortgage Note. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.