Common use of Loans Denominated in Dollars Clause in Contracts

Loans Denominated in Dollars. Each payment by the US Borrower on account of the principal of or interest on any Loan or Letter of Credit denominated in Dollars or of any fee, commission or other amounts (including the Reimbursement Obligation) payable to the Lenders under this Agreement or any Note (except as set forth in Section 5.4(b) or (c)) shall be made in Dollars not later than 2:00 p.m. on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office for the account of the Lenders (other than as set forth below) pro rata in accordance with their respective Revolving Credit Commitment Percentages (except as specified below) in immediately available funds and shall be made without any set-off, counterclaim or deduction whatsoever. Any payment received after such time but before 3:00 p.m. on such day shall be deemed a payment on such date for the purposes of Section 13.1, but for all other purposes shall be deemed to have been made on the next succeeding Business Day. Any payment received after 3:00 p.m. shall be deemed to have been made on the next succeeding Business Day for all purposes.

Appears in 2 contracts

Samples: Credit Agreement (Pool Corp), Credit Agreement (Pool Corp)

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Loans Denominated in Dollars. Each payment by the US Borrower on account of the principal of or interest on any Loan or Letter of Credit denominated in Dollars or of any fee, commission or other amounts (including the Reimbursement Obligation) payable to the Lenders under this Agreement or any Note Loan (except as set forth in Section 5.4(b) or (c2.11(b)) shall be made in Dollars not later than 2:00 1:00 p.m. on the date specified for payment under this Agreement to to, in connection with any Swingline Loans, the Swingline Lender, and in all other cases, the Administrative Agent at the Administrative Agent’s Office for the account of the applicable Lenders (other than except as set forth below) pro rata in accordance with their respective Revolving Credit Commitment Pro Rata Percentages (except as specified below) in immediately available funds and shall be made without any set-off, counterclaim or deduction whatsoever. Any payment received after such time but before 3:00 2:00 p.m. on such day shall be deemed a payment on such date for the purposes of Section 13.1Article VII, but for all other purposes shall be deemed to have been made on the next succeeding Business Day. Any payment received after 3:00 2:00 p.m. shall be deemed to have been made on the next succeeding Business Day for all purposes.

Appears in 2 contracts

Samples: Senior Unsecured Credit Agreement (Choice Hotels International Inc /De), Senior Unsecured Credit Agreement (Choice Hotels International Inc /De)

Loans Denominated in Dollars. Each payment by the US Borrower on account of the principal of or interest on any Loan or Letter of Credit denominated in Dollars or of any fee, commission or other amounts (including the Reimbursement Obligation) payable to the Lenders under this Agreement or any Note (except as set forth in Section 5.4(b) or (c4.4(b)) shall be made in Dollars not later than 2:00 p.m. on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office for the account of the Lenders (other than as set forth below) pro rata in accordance with their respective Revolving Credit Commitment Percentages (except as specified below) in immediately available funds and shall be made without any set-off, counterclaim or deduction whatsoever. Any payment received after such time but before 3:00 p.m. on such day shall be deemed a payment on such date for the purposes of Section 13.112.1, but for all other purposes shall be deemed to have been made on the next succeeding Business Day. Any payment received after 3:00 p.m. shall be deemed to have been made on the next succeeding Business Day for all purposes.

Appears in 2 contracts

Samples: Credit Agreement (SCP Pool Corp), Credit Agreement (SCP Pool Corp)

Loans Denominated in Dollars. Each payment by the US Borrower on account of the principal of or interest on any Loan or Letter of Credit denominated in Dollars or of any fee, commission or other amounts (including the Reimbursement Obligation) payable to the Lenders under this Agreement or any Note (except as set forth in Section 5.4(b) or (c4.4(b)) shall be made in Dollars not later than 2:00 p.m. on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office for the account of the Lenders (other than as set forth below) pro rata in accordance with their respective Revolving Credit Commitment Percentages (except as specified below) in immediately available funds and shall be made without any set-off, counterclaim or deduction whatsoever. Any payment received after such time but before 3:00 p.m. on such day shall be deemed a payment on such date for the purposes of Section 13.112.1, but for all other purposes shall be deemed to have been made on the next succeeding Business Day. Any payment received after 3:00 p.m. shall be deemed to have been made on the next succeeding Business Day for all purposes.

Appears in 1 contract

Samples: Credit Agreement (SCP Pool Corp)

Loans Denominated in Dollars. Each payment by the US Borrower on account of the principal of or interest on any Loan or Letter of Credit denominated in Dollars or of any fee, commission or other amounts (including the Reimbursement Obligation) payable to the Lenders under this Agreement or any Note (except as set forth in Section 5.4(b) or (c4.4(b)) shall be made in Dollars not later than 2:00 1:00 p.m. on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office for the account of the Lenders (other than as set forth below) pro rata in accordance with their respective Revolving Credit Commitment Percentages (except as specified below) in immediately available funds and shall be made without any set-off, counterclaim or deduction whatsoever. Any payment received after such time but before 3:00 5:00 p.m. on such day shall be deemed a payment on such date for the purposes of Section 13.112.1, but for all other purposes shall be deemed to have been made on the next succeeding Business Day. Any 44 payment received after 3:00 5:00 p.m. shall be deemed to have been made on the next succeeding Business Day for all purposes.

Appears in 1 contract

Samples: Credit Agreement (Ikon Office Solutions Inc)

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Loans Denominated in Dollars. Each payment by the US Borrower on account of the principal of or interest on any Loan or Letter of Credit denominated in Dollars or of any fee, commission or other amounts (including the Reimbursement Obligation) payable to the Lenders under this Agreement or any Note (except as set forth in Section 5.4(b) or (c)) shall be made in Dollars not later than 2:00 p.m. on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office for the account of the Lenders (other than as set forth below) pro rata in accordance with their respective Revolving Credit Commitment Percentages (except as specified below) in immediately available funds and shall be made without any set-off, counterclaim or deduction whatsoever. Any payment received after such time but before 3:00 p.m. on such day shall be deemed a payment on such date for the purposes of Section 13.1, but for all other purposes shall be deemed to have been made on the next succeeding Business Day. Any payment received after 3:00 p.m. shall be deemed to have been made on the next succeeding Business Day for all purposes.

Appears in 1 contract

Samples: Credit Agreement (Pool Corp)

Loans Denominated in Dollars. Each payment by the US Borrower on account of the principal of or interest on any Loan or Letter of Credit denominated in Dollars dollars or of any fee, commission or other amounts (including the Reimbursement Obligation) payable to the Lenders under this Agreement or any Note Loan (except as set forth in Section 5.4(b) or (c2.11(b)) shall be made in Dollars dollars not later than 2:00 1:00 p.m. on the date specified for payment under this Agreement to to, in connection with any Swingline Loans, the Swingline Lender, and in all other cases, the Administrative Agent at the Administrative Agent’s Office for the account of the applicable Lenders (other than except as set forth below) pro rata in accordance with their respective Revolving Credit Commitment Pro Rata Percentages (except as specified below) in immediately available funds and shall be made without any set-off, counterclaim or deduction whatsoever. Any payment received after such time but before 3:00 2:00 p.m. on such day shall be deemed a payment on such date for the purposes of Section 13.1Article VII, but for all other purposes shall be deemed to have been made on the next succeeding Business Day. Any payment received after 3:00 2:00 p.m. shall be deemed to have been made on the next succeeding Business Day for all purposes.

Appears in 1 contract

Samples: Credit Agreement (Choice Hotels International Inc /De)

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