Common use of Payments by the Borrowers Clause in Contracts

Payments by the Borrowers. (a) All payments to be made by the Borrowers shall be made without set-off, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to each Lender, at the account designated by such Lender and shall be made in Dollars and in immediately available funds, no later than 12:00 noon (Los Angeles, California time) on the date specified herein. Any payment received by the Lenders after such time shall be deemed (for purposes of calculating interest only) to have been received on the following Business Day and any applicable interest shall continue to accrue.

Appears in 2 contracts

Samples: Loan Agreement (Unova Inc), Loan Agreement (Unitrin Inc)

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Payments by the Borrowers. (a) All payments to be made by the Borrowers shall be made without set-off, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to each the Lender, at the account designated by such the Lender and shall be made in Dollars and in immediately available funds, no later than 12:00 noon (Los Angeles, California Angeles time) on the date specified herein. Any payment received by the Lenders Lender after such time shall be deemed (for purposes of calculating interest only) to have been received on the following Business Day and any applicable interest shall continue to accrue.

Appears in 2 contracts

Samples: Credit Agreement (Remedytemp Inc), Credit Agreement (Spacelabs Medical Inc)

Payments by the Borrowers. (a) All payments to be made by the Borrowers shall be made without set-off, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to each Lender, the Lender at the account designated by such Lender the Lender, and shall be made in Dollars and in immediately available funds, no later than 12:00 noon 1:00 p.m. (Los Angeles, California Angeles time) on the date specified herein. Any payment received by the Lenders after such time Lender later than 1:00 p.m. (Los Angeles time) shall be deemed (for purposes of calculating interest only) to have been received on the following Business Day and any applicable interest or fee shall continue to accrue.

Appears in 1 contract

Samples: Loan and Security Agreement (Cerprobe Corp)

Payments by the Borrowers. (a) a. All payments to be made by the Borrowers shall be made without set-off, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to each the Lender, at the account designated by such the Lender and shall be made in Dollars and in immediately available funds, no later than 12:00 noon (Los AngelesPasadena, California time) on the date specified herein. Any payment received by the Lenders Lender after such time shall be deemed (for purposes of calculating interest only) to have been received on the following Business Day and any applicable interest shall continue to accrue.

Appears in 1 contract

Samples: Credit Agreement (Meade Instruments Corp)

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Payments by the Borrowers. (a) All payments to be made by the Borrowers shall be made without set-off, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to each Lender, at the account designated by such Lender Payment Account and shall be made in Dollars and in immediately available funds, no later than 12:00 noon (Los Angeles, California Eastern time) on the date specified herein. Any payment received by the Lenders Lender after such time shall be deemed (for purposes of calculating interest only) to have been received on the following Business Day and any applicable interest shall continue to accrue.

Appears in 1 contract

Samples: Credit Agreement (Reeds Jewelers Inc)

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