Common use of PAYMENTS AND ACCOUNTS Clause in Contracts

PAYMENTS AND ACCOUNTS. 6.01 All payments to be made by the Obligors under or in respect of any Security Document shall be made in full in the currency in which the same is due, without any set-off or counterclaim whatsoever and, subject as provided in Clause 6.03, free and clear of any deductions or withholdings, by not later than 10.00 a.m. (local time in the place of payment) on the due date in immediately available funds to the account of the Bank at HSBC BANK U.S.A. New York (Account Number 000-04779-1) or at such other bank in such other place as the Bank may have notified to the Borrower. All interest and any other payments hereunder of an annual nature shall accrue from day to day and be calculated on the basis of 360 day year.

PAYMENTS AND ACCOUNTS. 6.01 All payments to be made by the Obligors Borrower under or in respect of any Security Document shall be made in full in the currency in which the same is due, without any set-off or counterclaim whatsoever and, subject as provided in Clause 6.03, free and clear of any present or future Taxes and without any deductions or withholdings, by not later than 10.00 10 a.m. (local time in the place of payment) ), on the due date in immediately available funds to the account of the Bank at HSBC BANK U.S.A. New York (Account Number No. 000-04779-1) or at such other bank in such other place as the Bank may have notified to the Borrower. All A11 interest and any other payments hereunder of an annual nature shall accrue from day to day and be calculated on the basis of 360 day year.