Payments; Application of Payments. (a) All payments to be made by the Borrower under any Loan Document shall be made in immediately available funds in Dollars, without setoff or counterclaim, before 3.00 pm New York City time on the date when due to Agent, for the ratable benefit of the Lenders, to an account as shall be designated in a written notice delivered by Agent to the Borrower. Payments of principal and/or interest received after 3.00 pm New York City time are considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid.
Appears in 6 contracts
Samples: Loan and Security Agreement (Doma Holdings, Inc.), Loan and Security Agreement (Doma Holdings, Inc.), Loan and Security Agreement (Doma Holdings, Inc.)
Payments; Application of Payments. (a) All payments to be made by the Borrower Borrowers under any Loan Document shall be made in immediately available funds in Dollars, without setoff or counterclaim, before 3.00 pm 12:00 noon New York City time on the date when due to Agent, for the ratable benefit of the Lenders, to an such account as shall be designated in a written notice delivered by Agent to the BorrowerBorrowers. Payments of principal and/or interest received after 3.00 pm 12:00 noon New York City time are considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid.
Appears in 1 contract
Samples: Loan and Security Agreement (Omnichannel Acquisition Corp.)
