Common use of Payment Requirement Clause in Contracts

Payment Requirement. Except as provided in Section 6.1. 2.1 with respect to payments from collected funds in the Cash Collateral Account and unless expressly provided to the contrary elsewhere herein, Borrower shall make each payment on the Loan Obligations to Administrative Agent for the account of Lenders (based on each Lender's pro-rata share) as required under the Loan Documents at the Applicable Lending Office of the Administrative Agent on the date when due, without deduction, set-off or counterclaim (provided, however, the making of such payment shall not constitute a waiver by Borrower of counterclaims arising from the willful misconduct or gross negligence of Administrative Agent or the Lenders). All such payments will be distributed by Administrative Agent to Lenders as provided in Section 17.10 for application to the Loan Obligations as provided herein.

Payment Requirement. Except as provided in Section 6.1. 2.1 6.1.2.1 with respect to payments from collected funds in the Cash Collateral Account and unless expressly provided to the contrary elsewhere herein, Borrower shall make each payment on the Loan Obligations to Administrative Agent for the account of Lenders (based on each Lender's ’s pro-rata share) as required under the Loan Documents at the Applicable Lending Office of the Administrative Agent on the date when due, without deduction, set-off or counterclaim (provided, however, the making of such payment shall not constitute a waiver by Borrower of counterclaims arising from the willful misconduct or gross negligence of Administrative Agent or the Lenders). All such payments will be distributed by Administrative Agent to Lenders as provided in Section 17.10 for application to the Loan Obligations as provided herein.