Maximum Lawful Rate

Maximum Lawful Rate. Means the maximum lawful rate of interest which may be contracted for, charged, taken, received or reserved by Lender in accordance with the applicable laws of the State of Texas (or applicable United States federal law to the extent that such law permits Lender to contract for, charge, take, receive or reserve a greater amount of interest than under Texas law), taking into account all Charges made in connection with the Loan.

Maximum Lawful Rate. The maximum legal rate permitted under Texas law (or if another state or federal law is deemed controlling on the issue, such other maximum legal rate, if lower) with respect to commercial transactions. It is the intention of the Sourcecorp Parties, the Deatons and the Deaton Related Entities to conform strictly to all applicable usury laws now or hereafter in force, and any interest payable under this Agreement will be subject to reduction to the amount not in excess of the maximum legal... amount allowed under the applicable laws as now or hereafter construed by the courts having jurisdiction over such matters. The aggregate of all interest (whether designated as interest, service charges, points or otherwise) contracted for, chargeable or receivable under this Agreement will under no circumstances exceed such maximum lawful rate. If such interest does exceed the maximum lawful rate, it will be deemed a mistake and such excess will be canceled automatically and, if theretofore paid, rebated by the payee to the payor. View More

Maximum Lawful Rate. The highest interest rate permitted under applicable law.