Borrower’s Payment Clause Samples
The Borrower’s Payment clause defines the obligations of the borrower regarding the timing, method, and amount of payments due under a loan or credit agreement. Typically, it specifies when payments must be made, acceptable forms of payment, and the consequences of late or missed payments, such as the accrual of interest or penalties. This clause ensures that both parties have a clear understanding of the borrower’s financial responsibilities, thereby reducing the risk of disputes and providing a framework for consistent and predictable repayment.
Borrower’s Payment. When any Overadvance or other amount owing to Lender becomes due, Lender shall inform Borrower of the manner of payment which may be any one or more of the following in Lender’s sole discretion: (a) in cash immediately upon demand therefore; (b) by delivery of substitute invoices and a Funding Request acceptable to Lender which shall thereupon become Financed Receivables; (c) by deduction from or offset against the Refundable Reserve that would otherwise be due and payable to Borrower; (d) by deduction from or offset against the amount that otherwise would be forwarded to Borrower in respect of any further Advances that may be made by Lender; or (e) by any combination of the foregoing as Lender may from time to time choose.
Borrower’s Payment. When any Overadvance or other amount owing to Lender becomes due, Lender shall inform Borrower of the manner of payment which may be any one or more of the following in Lender’s sole discretion: (a) in cash immediately upon demand therefor; (b) by deduction from or offset against the amount that otherwise would be forwarded to Borrower in respect of any further Revolving Advances that may be made by Lender; or (c) by any combination of the foregoing as Lender may from time to time choose.
Borrower’s Payment. The Administrative Agent shall have received the Borrower’s Payment.
Borrower’s Payment obligations Any obligation of the Borrower under the Transaction Documents to pay or release any amount to the Head Lessee shall be conditional upon all amounts then due and payable by the Head Lessee to the Borrower under the Head Lessee Documents, or under any other agreement for the time being between any Relevant Party (in any capacity) and the Head Lessee, having been paid in full.
Borrower’s Payment. The Administrative Agent shall have received the Bor- rower’s Payment; and
Borrower’s Payment. Crediting Date means the day, on which the Borrower’s payment is credited to the iService Bank Account in line with the Loan Agreement for the purpose of repaying the individual loan instalments with accessories;
Borrower’s Payment. When any Overadvance or other amount owing to Lender becomes due, Lender shall inform Borrower of the manner of payment which may be any one or more of the following in Lender’s sole discretion: (a) in cash immediately upon demand therefor; (b) by deduction from or offset against the amount that otherwise would be forwarded to Borrower in respect of any further Advances that may be made by Lender; or (c) by any combination of the foregoing as Lender may from time to time choose. Borrower hereby authorizes Lender to debit its checking account #0101032605 maintained with Lender for any and all Obligations due under this Agreement.