Common use of Payment Generally Clause in Contracts

Payment Generally. (a) All amounts payable by Borrower or Guarantor hereunder shall be paid to the Agent on behalf of the Sprott Lender Parties in United States Dollars, in immediately available funds by wire transfer at such account or financial institution as the Agent may from time to time notify Borrower. Any payments received after 2:00 p.m. (Toronto time) will be considered for all purposes as having been made on the next following Business Day. (b) If the due date of any payment under this Agreement would otherwise fall on a day that is not a Business Day, such payment shall be due on the next succeeding Business Day, together with interest that has accrued to the Business Day on which such payment was due. (c) For the purposes of Section 2(a), each Advance may be advanced by the Lenders through the Agent to the Borrower. All amounts that an Obligor is required pursuant to this Agreement to pay to the Sprott Lender Parties or any of them including on account of principal, interest, default interest or any other amount, shall be paid to the Agent for distribution by it to the Sprott Lender Parties. All amounts received by the Agent in respect of the Principal Amount or interest thereon shall be applied and distributed by it to the Lenders rateably according to each Lender’s Proportionate Share. All amounts received by the Agent from the Obligors for the benefit of the Lenders or from the Lenders for the benefit of the Borrower shall, in each case, be received by the Agent acting as agent for and on behalf of the Lenders hereunder. (d) Each Lender will maintain in accordance with its usual practice one or more accounts evidencing the Principal Amount of the Advances owing by Borrower to such Lender hereunder. Such account(s) will be prima facie evidence of the obligations recorded therein, provided that any failure by Lender to maintain any account or any error therein shall not affect the obligation of Borrower or Guarantor to repay the Obligations to such Lender in accordance with this Agreement.

Appears in 3 contracts

Sources: Loan Agreement (Bunker Hill Mining Corp.), Loan Agreement (Bunker Hill Mining Corp.), Loan Agreement (Bunker Hill Mining Corp.)

Payment Generally. (a) All amounts payable by Borrower or Guarantor hereunder shall be paid to [Redacted – Affiliate of Sprott Private Resource Streaming & Royalty Corp.] (the Agent “Collector”) on behalf of the Sprott Lender Parties Lenders in United States Dollars, in immediately available funds by wire transfer at such account or financial institution as the Agent Lenders may from time to time notify Borrower. Any payments received after 2:00 12:00 p.m. (Toronto Vancouver time) will be considered for all purposes as having been made on the next following Business Day. (b) If the due date of any payment under this Agreement would otherwise fall on a day that is not a Business Day, such payment shall be due on the next succeeding Business Day, together with interest that has accrued to the Business Day on which such payment was due. (c) For the purposes of Section 2(a), each Advance the aggregate Principal Amount may be advanced by the Lenders through the Agent Collector to the Borrower. All amounts that an Obligor is required pursuant to this Agreement to pay to the Sprott Lender Parties Lenders or any of them including on account of principal, interest, Prepayment Interest Premium, default interest or any other amount, shall be paid to the Agent Collector for distribution by it to the Sprott Lender PartiesLenders. All amounts received by the Agent [Redacted – Affiliate of Sprott Private Resource Streaming & Royalty Corp.] in respect of the Principal Amount or Amount, interest thereon or Prepayment Interest Premium shall be applied and distributed by it to the Lenders rateably according to each Lender’s Proportionate Share. All amounts received by the Agent Collector from the Obligors for the benefit of the Lenders or from the Lenders for the benefit of the Borrower shall, in each case, be received by the Agent Collector acting as agent for and on behalf of the Lenders hereunder. (d) Each Lender will maintain in accordance with its usual practice one or more accounts evidencing the Principal Amount of the Advances owing by Borrower to such Lender hereunder. Such account(s) will be prima facie evidence of the obligations recorded therein, provided that any failure by Lender to maintain any account or any error therein shall not affect the obligation of Borrower or Guarantor to repay the Obligations to such Lender in accordance with this Agreement.

Appears in 2 contracts

Sources: Bridge Loan Agreement (Bunker Hill Mining Corp.), Bridge Loan Agreement

Payment Generally. (a) All amounts payable payments to be made by Borrower the Company shall be made without condition or Guarantor deduction for any defense, set-off, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Company hereunder shall be paid made to the Agent on behalf Administrative Agent, for the account of the Sprott Lender Parties respective Lenders to which such payment is owed, at the Administrative Agent's Office in United States Dollars, Dollars and in immediately available funds, no later than 10:00 a.m. (San Francisco, California time) for Eurodollar Rate Loans and no later than 1:00 p.m. (San Francisco, California time) for Base Rate Loans, in each case on the date specified herein. The Administrative Agent will promptly distribute to each Lender its Pro Rata Share (or other applicable share as provided herein) of such payment in like funds as received by wire transfer at to such account or financial institution as the Agent may from time to time notify BorrowerLender's Lending Office. Any payments payment received after 2:00 p.m. (Toronto time) will by the Administrative Agent later than such specified times shall be considered for all purposes as having deemed to have been made received on the next following Business DayDay and any applicable interest or fee shall continue to accrue. (b) If Subject to the due date provisions set forth in the definition of "Interest Period" herein, whenever any payment under this Agreement would otherwise fall is due on a day that is not other than a Business Day, such payment shall be due made on the next succeeding following Business Day, together with and such extension of time shall in such case be included in the computation of interest that has accrued to or fees, as the Business Day on which such payment was duecase may be. (c) For Unless the purposes of Section 2(a)Company or any Lender has notified the Administrative Agent, each Advance may be advanced by the Lenders through the Agent prior to the Borrower. All amounts that an Obligor date any payment is required pursuant to this Agreement to pay to the Sprott Lender Parties or any of them including on account of principal, interest, default interest or any other amount, shall be paid to the Agent for distribution made by it to the Sprott Administrative Agent hereunder, that the Company or such Lender, as the case may be, will not make such payment, the Administrative Agent may assume that the Company or such Lender, as the case may be, has timely made such payment and may (but shall not be so required to), in reliance thereon, make available a corresponding amount to the Person entitled thereto. If and to the extent that such payment was not in fact made to the Administrative Agent in immediately available funds, then: (1) if the Company failed to make such payment, each Lender Parties. All amounts received by shall forthwith on demand repay to the Administrative Agent the portion of such assumed payment that was made available to such Lender in immediately available funds, together with interest thereon in respect of each day from and including the Principal Amount or date such amount was made available by the Administrative Agent to such Lender to the date such amount is repaid to the Administrative Agent in immediately available funds at the Federal Funds Rate from time to time in effect; and (2) if any Lender failed to make such payment, such Lender shall forthwith on demand pay to the Administrative Agent the amount thereof in immediately available funds, together with interest thereon for the period from the date such amount was made available by the Administrative Agent to the Company to the date such amount is recovered by the Administrative Agent (the "Compensation Period") at a rate per annum equal to the Federal Funds Rate from time to time in effect. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender's Revolving Loan included in the applicable Borrowing. If such Lender does not pay such amount forthwith upon the Administrative Agent's demand therefor, the Administrative Agent may make a demand therefor upon the Company, and the Company shall pay such amount to the Administrative Agent, together with interest thereon for the Compensation Period at a rate per annum equal to the rate of interest applicable to the applicable Borrowing. Nothing herein shall be applied and distributed deemed to relieve any Lender from its obligation to fulfill its Commitment or to prejudice any rights which the Administrative Agent or the Company may have against any Lender as a result of any default by it to the Lenders rateably according to each Lender’s Proportionate Sharesuch Lender hereunder. All amounts received by the Agent from the Obligors for the benefit A notice of the Lenders Administrative Agent to any Lender or from the Lenders for the benefit of the Borrower shallCompany with respect to any amount owing under this subsection (c) shall be conclusive, in each case, be received by the Agent acting as agent for and on behalf of the Lenders hereunderabsent manifest error. (d) Each If any Lender will maintain makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the Company by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with its usual practice one or more accounts evidencing the Principal Amount terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest. (e) The obligations of the Advances owing by Borrower Lenders hereunder to such Lender hereundermake Revolving Loans and to fund participations in Letters of Credit are several and not joint. Such account(s) will be prima facie evidence The failure of the obligations recorded therein, provided that any failure by Lender to maintain make any account Revolving Loan or to fund any error therein such participation on any date required hereunder shall not affect relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the obligation failure of Borrower any other Lender to so make its Revolving Loan or Guarantor purchase its participation. (f) Nothing herein shall be deemed to repay obligate any Lender to obtain the Obligations funds for any Loan in any particular place or manner or to such constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in accordance with this Agreementany particular place or manner.

Appears in 1 contract

Sources: Credit Agreement (Maxxam Group Holdings Inc)

Payment Generally. (a) All amounts payable by Borrower or Guarantor hereunder shall be paid to the Agent on behalf of the Sprott Lender Parties in United States Dollars, in immediately available funds by wire transfer at such account or financial institution as the Agent may from time to time notify Borrower. Any payments received after 2:00 p.m. (Toronto time) will be considered for all purposes as having been made on the next following Business Day. (b) If the due date of any payment under this Agreement would otherwise fall on a day that is not a Business Day, such payment shall be due on the next succeeding Business Day, together with interest that has accrued to the Business Day on which such payment was due. (c) For the purposes of Section 2(a), each Advance may be advanced by the Lenders through the Agent to the Borrower. All amounts that an Obligor is required pursuant to this Agreement to pay to the Sprott Lender Parties or any of them including on account of principal, interest, default interest or any other amount, shall be paid to the Agent for distribution by it to the Sprott Lender Parties. All amounts received by the Agent in respect of the Principal Amount or interest thereon shall be applied and distributed by it to the Lenders rateably according to each Lender’s Proportionate Share. All amounts received by /HQGHUV UDWHDEO\ DFFRUGLQJ WR HDFK /HQGHU¶V the Agent from the Obligors for the benefit of the Lenders or from the Lenders for the benefit of the Borrower shall, in each case, be received by the Agent acting as agent for and on behalf of the Lenders hereunder. (d) Each Lender will maintain in accordance with its usual practice one or more accounts evidencing the Principal Amount of the Advances owing by Borrower to such Lender hereunder. Such account(s) will be prima facie evidence of the obligations recorded therein, provided that any failure by Lender to maintain any account or any error therein shall not affect the obligation of Borrower or Guarantor to repay the Obligations to such Lender in accordance with this Agreement.

Appears in 1 contract

Sources: Loan Agreement

Payment Generally. (a) All amounts Landlord shall pay all taxes, including municipal and school taxes, assessments, rates and charges, county taxes, excises, levies, and all other license and permit fees and other governmental charges, which during the Term may be assessed, levied, confirmed, imposed upon, or become due and payable with respect to the Premises or any part thereof (all of which are hereinafter collectively called “Taxes”). Tenant shall pay to Landlord on the same day in which Tenant pays the Base Monthly Rent, an amount equal to one-twelfth (1/12th) of such Taxes, determined on the basis of the Landlord’s estimated taxes for the current tax year. If the actual amount of Tenant’s share of Taxes with respect to any tax year once determined, is less than the total amount theretofore paid by Borrower or Guarantor hereunder Tenant for such period, as aforesaid, the excess shall be credited on Tenant’s next succeeding payment(s) pursuant to this Section. If the actual amount of Tenant’s share of Taxes with respect to any tax year, once determined, shall exceed the total amount theretofore paid by Tenant for such period, as aforesaid, Tenant shall pay to Landlord the Agent on behalf of difference between the Sprott Lender Parties in United States Dollars, in immediately available funds actual amount paid by wire transfer at such account or financial institution as Tenant and the Agent may from time to time notify Borrower. Any payments received after 2:00 p.m. (Toronto time) will be considered for all purposes as having been made amount due on the next following Business Daybasis of such tax bills for such period within thirty (30) days after written notice thereof from Landlord. If the amount of Taxes paid by Landlord for the Premises is adjusted after the tax ▇▇▇▇ is prepared, any reduction shall be refunded to Tenant such that Tenant’s payment equals the tax as actually paid. (b) In the event that an increase in Taxes is caused by the Tenant’s improvements made to the Premises, Tenant shall pay the increase attributable to such improvements. If the due date improvements, the taxes for which are to be paid separately by Tenant, are not separately assessed, Tenant’s portion of that tax shall be equitably determined by Landlord from the respective valuations assigned in the assessor’s worksheets or such other information (which may include the cost of construction) as may be reasonably available. Notwithstanding anything herein to the contrary, Tenant shall not be responsible for any increase in Taxes which results solely from the creation of additional rentable area in the Building or on the Premises or from improvements or alterations made by Landlord or other tenants, and Tenant shall not be responsible for any increases in Taxes for the Premises resulting from a refinancing or sale of the Premises during the initial Term. If there is a tax abatement program in effect at any time during the Term which reduces Taxes or Taxes are “phased-in” during the Term, Taxes shall be adjusted so that they are computed on the same basis as Taxes for the tax years during which the tax abatement or phase-in is in effect. If Tenant seeks to dispute any increase in Taxes on its improvements, the burden of proof with respect thereto shall fall solely upon Tenant and Landlord shall give Tenant the necessary authority to challenge any such assessment on Landlord’s behalf, and Tenant shall bear the full cost and expense of any payment under this Agreement would otherwise fall on a day that is not a Business Day, such payment shall be due on the next succeeding Business Day, together with interest that has accrued to the Business Day on which such payment was duechallenge. (c) For the purposes of Section 2(a), each Advance may be advanced by the Lenders through the Agent to the Borrower. All amounts that an Obligor is required pursuant to this Agreement to pay to the Sprott Lender Parties or any of them including on account of principal, interest, default interest or any other amount, shall be paid to the Agent for distribution by it to the Sprott Lender Parties. All amounts received by the Agent in respect of the Principal Amount or interest thereon shall be applied and distributed by it to the Lenders rateably according to each Lender’s Proportionate Share. All amounts received by the Agent from the Obligors for the benefit of the Lenders or from the Lenders for the benefit of the Borrower shall, in each case, be received by the Agent acting as agent for and on behalf of the Lenders hereunder. (d) Each Lender will maintain in accordance with its usual practice one or more accounts evidencing the Principal Amount of the Advances owing by Borrower to such Lender hereunder. Such account(s) will be prima facie evidence of the obligations recorded therein, provided that any failure by Lender to maintain any account or any error therein shall not affect the obligation of Borrower or Guarantor to repay the Obligations to such Lender in accordance with this Agreement.

Appears in 1 contract

Sources: Lease Agreement (Ikaria, Inc.)