Method for Making Payments. All payments that the Borrower is required to make to the Agent or Lenders under this Agreement or under any of the other Financing Agreements shall be joint and several and shall be made in immediately available funds not later than 1:00 p.m. (New York time) on the date of payment at the Agent’s office at Popular Bank, P.▇. ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇, or at such other place as the Agent directs in writing from time to time, or, in the Agent’s sole and absolute discretion after the occurrence and during the continuance of any Event of Default, by appropriate debits to the Loan Account. Borrower hereby irrevocably authorizes and instructs Agent to direct debit any of Borrower’s operating accounts with Popular Bank for all principal, interest, fees and expenses due hereunder with respect to the Loan and the Liabilities. Payments made after 1:00 p.m. (New York time) shall be deemed to have been made on the next succeeding Business Day.
Appears in 3 contracts
Sources: Term Loan and Security Agreement (Strawberry Fields REIT, Inc.), Term Loan and Security Agreement (Strawberry Fields REIT, Inc.), Term Loan and Security Agreement (Strawberry Fields REIT, Inc.)