Common use of Payments by Borrowers Clause in Contracts

Payments by Borrowers. The Borrowers and each other Obligor shall make each payment required of it under this Agreement and under any other Loan Document not later than 11:00 a.m. (London, England time) on the date due in Dollars to the Administrative Agent at its Funding Office, or such other location as the Administrative Agent may designate in writing to the Borrowers or such Obligor in same day funds without deduction, set off, or counterclaim of any kind. Upon its actual receipt of such payment in same day funds without deduction, set off, or counterclaim of any kind, the Administrative Agent shall promptly thereafter calculate and cause to be distributed ratably to each Lender in accordance with such Lender’s Pro Rata Share at each Lender’s respective Funding Office or to an account of such Lender at a bank in New York City as notified to the Administrative Agent at least five (5) Business Days prior to such distribution, like funds relating to the payment of principal, interest, fees or any other amounts (other than amounts payable solely to the Administrative Agent, the LC Issuer, or a specific Lender), and like funds relating to the payment of interest, fees or any other amounts payable to the LC Issuer for its account at its Funding Office, in each case to be applied in accordance with this Agreement. If the Administrative Agent makes a payment to a Lender or the LC Issuer in circumstances where the Administrative Agent was for any reason not in actual receipt of same day funds for such payment without deduction, set off or counterclaim (it being understood that the Administrative Agent shall have no obligation to make such a payment unless and until it actually receives such funds from the Borrowers), then such Lender or the LC Issuer (as the case may be) shall on demand therefor promptly refund such payment to the Administrative Agent together with accrued interest thereon from the date of its receipt of such payment to the date such refund is received by the Administrative Agent, such interest to be based on the rate determined by the Administrative Agent as its cost of funding for such payment.

Payments by Borrowers. The Borrowers Except to the extent otherwise provided herein, all payments of principal, interest, Fees and each other Obligor shall make each payment required amounts to be made by any Borrower, or the Company on behalf of it the applicable Borrower, under this Agreement and under Agreement, the Notes or any other Loan Document not later than 11:00 a.m. shall be made in Dollars, in immediately available funds, without setoff, deduction or counterclaim (Londonexcluding Taxes required to be withheld pursuant to Section 3.10.), England time) on the date due in Dollars to the Administrative Agent at its Funding the Principal Office, not later than 2:00 p.m. New York City time on the date on which such payment shall become due (each such payment made after such time on such due date to be deemed to have been made on the next succeeding Business Day). Subject to Section 11.4., each Borrower, or such the Company on behalf of the applicable Borrower, shall, at the time of making each payment under this Agreement or any other location as Loan Document, specify to the Administrative Agent may designate the amounts payable by such Borrower hereunder to which such payment is to be applied. Each payment received by the Administrative Agent for the account of a Lender under this Agreement or any Note shall be paid to such Lender by wire transfer of immediately available funds in writing accordance with the wiring instructions provided by such Lender to the Borrowers Administrative Agent from time to time, for the account of such Lender at the applicable Lending Office of such Lender. Each payment received by the Administrative Agent for the account of the applicable Issuing Bank under this Agreement shall be paid to such Issuing Bank by wire transfer of immediately available funds in accordance with the wiring instructions provided by such Issuing Bank to the Administrative Agent from time to time, for the account of such Issuing Bank. In the event the Administrative Agent fails to pay such amounts to such Lender or such Obligor in same day funds without deductionIssuing Bank, set offas the case may be, or counterclaim on the Business Day of any kind. Upon its actual receipt of such payment in same amounts if received by the Administrative Agent by 11:00 a.m. New York City time on such day funds without deductionor, set offif received by the Administrative Agent later than 11:00 a.m. New York City time, or counterclaim then within one Business Day of any kindreceipt of such amounts, the Administrative Agent shall promptly thereafter calculate and cause to be distributed ratably to each Lender in accordance with pay interest on such Lender’s Pro Rata Share at each Lender’s respective Funding Office or to an account of such Lender amount until paid at a bank in New York City as notified rate per annum equal to the Administrative Agent at least five (5) Business Days prior Federal Funds Rate from time to such distribution, like funds relating to time in effect. If the due date of any payment of principal, interest, fees under this Agreement or any other amounts (other than amounts payable solely Loan Document would otherwise fall on a day which is not a Business Day such date shall be extended to the Administrative Agentnext succeeding Business Day and interest shall continue to accrue at the rate, the LC Issuerif any, or a specific Lender), and like funds relating applicable to the payment of interest, fees or any other amounts payable to the LC Issuer for its account at its Funding Office, in each case to be applied in accordance with this Agreement. If the Administrative Agent makes a payment to a Lender or the LC Issuer in circumstances where the Administrative Agent was for any reason not in actual receipt of same day funds for such payment without deduction, set off or counterclaim (it being understood that for the Administrative Agent shall have no obligation to make such a payment unless and until it actually receives such funds from the Borrowers), then such Lender or the LC Issuer (as the case may be) shall on demand therefor promptly refund such payment to the Administrative Agent together with accrued interest thereon from the date of its receipt period of such payment to the date such refund is received by the Administrative Agent, such interest to be based on the rate determined by the Administrative Agent as its cost of funding for such paymentextension.

Payments by Borrowers. The Borrowers Except to the extent otherwise provided herein, all payments of principal, interest, Fees and each other Obligor shall make each payment required amounts to be made by the Borrowers, or the Borrower Representative on behalf of it the Borrowers, under this Agreement and under Agreement, the Notes or any other Loan Document not later than 11:00 a.m. shall be made in Dollars, in immediately available funds, without setoff, deduction or counterclaim (Londonexcluding Taxes required to be withheld pursuant to Section 3.10.), England time) on the date due in Dollars to the Administrative Agent at its Funding the Principal Office, not later than 2:00 p.m. New York City time on the date on which such payment shall become due (each such payment made after such time on such due date to be deemed to have been made on the next succeeding Business Day). Subject to Section 11.4., the Borrower Representative shall, at the time of making each payment under this Agreement or such any other location as Loan Document, specify to the Administrative Agent may designate the amounts payable by the Borrowers hereunder to which such payment is to be applied. Each payment received by the Administrative Agent for the account of a Lender under this Agreement or any Note shall be paid to such Lender by wire transfer of immediately available funds in writing accordance with the wiring instructions provided by such Lender to the Borrowers or Administrative Agent from time to time, for the account of such Obligor in same day funds without deduction, set off, or counterclaim Lender at the applicable Lending Office of any kindsuch Lender. Upon its actual In the event the Administrative Agent fails to pay such amounts to such Lender on the Business Day of receipt of such payment in same amounts if received by the Administrative Agent by 11:00 a.m. New York City time on such day funds without deductionor, set offif received by the Administrative Agent later than 11:00 a.m. New York City time, or counterclaim then within one Business Day of any kindreceipt of such amounts, the Administrative Agent shall promptly thereafter calculate and cause to be distributed ratably to each Lender in accordance with pay interest on such Lender’s Pro Rata Share at each Lender’s respective Funding Office or to an account of such Lender amount until paid at a bank in New York City as notified rate per annum equal to the Administrative Agent at least five (5) Business Days prior Federal Funds Rate from time to such distribution, like funds relating to time in effect. If the due date of any payment of principal, interest, fees under this Agreement or any other amounts (other than amounts payable solely Loan Document would otherwise fall on a day which is not a Business Day such date shall be extended to the Administrative Agentnext succeeding Business Day and interest shall continue to accrue at the rate, the LC Issuerif any, or a specific Lender), and like funds relating applicable to the payment of interest, fees or any other amounts payable to the LC Issuer for its account at its Funding Office, in each case to be applied in accordance with this Agreement. If the Administrative Agent makes a payment to a Lender or the LC Issuer in circumstances where the Administrative Agent was for any reason not in actual receipt of same day funds for such payment without deduction, set off or counterclaim (it being understood that for the Administrative Agent shall have no obligation to make such a payment unless and until it actually receives such funds from the Borrowers), then such Lender or the LC Issuer (as the case may be) shall on demand therefor promptly refund such payment to the Administrative Agent together with accrued interest thereon from the date of its receipt period of such payment to the date such refund is received by the Administrative Agent, such interest to be based on the rate determined by the Administrative Agent as its cost of funding for such paymentextension.

Payments by Borrowers. The Borrowers All payments to be made by a Loan Party hereunder and each the other Obligor Loan Documents shall make each be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments with respect to principal and interest on Loans and unreimbursed LC Disbursements denominated in Dollars shall be made to the Administrative Agent, for the account of the respective Finance Parties to which such payment required is owed, at the Administrative Agent’s Office in Dollars in immediately available funds not later than 12:00 noon (New York City time) on the date specified herein. Except as otherwise expressly provided herein, all payments by the Loan Parties hereunder with respect to principal and interest on Loans and unreimbursed LC Disbursements denominated in an Alternative Currency shall be made to the Administrative Agent, for the account of it the respective Lenders to which such payment is owed, at the applicable Administrative Agent's Office in such Alternative Currency in immediately available funds not later than the Applicable Time specified by the Administrative Agent on the dates specified herein. Without limiting the generality of the foregoing, the Administrative Agent may require that any payments due under this Agreement be made in the United States. If, for any reason, a Loan Party is prohibited by Law from making any required payment hereunder in an Alternative Currency, such Loan Party shall make such payment in Dollars in the Dollar Amount equivalent of the Alternative Currency Amount. All amounts received by the Administrative Agent after such specified times on any date shall be deemed to have been received on the next succeeding Business Day and any applicable interest or fees shall continue to accrue. The Administrative Agent will promptly distribute to the Fronting Bank or Lender its ratable share (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Fronting Bank or Lender’s applicable lending office (or otherwise distribute such payment in like funds as received to the Person or Persons entitled thereto as provided herein). If any payment to be made by a Loan Party shall fall due on a day that is not a Business Day, payment shall be made on the next succeeding Business Day and such extension of time shall be reflected in computing interest or fees, as the case may be; provided that, if such next succeeding Business Day would fall after the Commitment Termination Date, payment shall be made on the immediately preceding Business Day. Except as otherwise expressly provided herein, all payments hereunder or under any other Loan Document not later than 11:00 a.m. (London, England time) on the date due shall be made in Dollars to the Administrative Agent at its Funding Office, or such other location as the Administrative Agent may designate in writing to the Borrowers or such Obligor in same day funds without deduction, set off, or counterclaim of any kind. Upon its actual receipt of such payment in same day funds without deduction, set off, or counterclaim of any kind, the Administrative Agent shall promptly thereafter calculate and cause to be distributed ratably to each Lender in accordance with such Lender’s Pro Rata Share at each Lender’s respective Funding Office or to an account of such Lender at a bank in New York City as notified to the Administrative Agent at least five (5) Business Days prior to such distribution, like funds relating to the payment of principal, interest, fees or any other amounts (other than amounts payable solely to the Administrative Agent, the LC Issuer, or a specific Lender), and like funds relating to the payment of interest, fees or any other amounts payable to the LC Issuer for its account at its Funding Office, in each case to be applied in accordance with this Agreement. If the Administrative Agent makes a payment to a Lender or the LC Issuer in circumstances where the Administrative Agent was for any reason not in actual receipt of same day funds for such payment without deduction, set off or counterclaim (it being understood that the Administrative Agent shall have no obligation to make such a payment unless and until it actually receives such funds from the Borrowers), then such Lender or the LC Issuer (as the case may be) shall on demand therefor promptly refund such payment to the Administrative Agent together with accrued interest thereon from the date of its receipt of such payment to the date such refund is received by the Administrative Agent, such interest to be based on the rate determined by the Administrative Agent as its cost of funding for such paymentDollars.

Payments by Borrowers. The Borrowers and each other Obligor Each Borrower shall make each payment required of it under this Agreement and under any other Loan Document not later than 11:00 a.m. (London, England time) on the date due in Dollars to the Administrative Agent at its Funding Office, or such other location as the Administrative Agent may designate in writing to the Borrowers or such Obligor in same day funds without deduction, set off, or counterclaim of any kind. Upon its actual receipt of such payment in same day funds without deduction, set off, or counterclaim of any kind, the Administrative Agent shall promptly thereafter calculate and cause to be distributed ratably to each Lender in accordance with such Lender’s Pro Rata Share at each Lender’s respective Funding Office or to an account of such Lender at a bank in New York City as notified to the Administrative Agent at least five made by it hereunder (5) Business Days prior to such distribution, like funds relating to the payment whether of principal, interest, fees or Unreimbursed Amounts, or under Section 2.12, 2.13 or 2.14, or otherwise) prior to 1:00 p.m. (or, in the case of Section 2.20(c), 2:00 p.m.), New York City time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any other amounts (other than amounts payable solely to date may, in the discretion of the Administrative Agent, be deemed to have been received on the LC Issuer, or a specific Lender), and like funds relating to the payment next succeeding Business Day for purposes of interest, fees or any other amounts payable to the LC Issuer for its account at its Funding Office, in each case to calculating interest thereon. All such payments shall be applied in accordance with this Agreement. If the Administrative Agent makes a payment to a Lender or the LC Issuer in circumstances where the Administrative Agent was for any reason not in actual receipt of same day funds for such payment without deduction, set off or counterclaim (it being understood that the Administrative Agent shall have no obligation to make such a payment unless and until it actually receives such funds from the Borrowers), then such Lender or the LC Issuer (as the case may be) shall on demand therefor promptly refund such payment made to the Administrative Agent together with accrued at the Administrative Agent’s Office, except that payments pursuant to Sections 2.12, 2.13, 2.14 and 9.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon from shall be payable for the period of such extension. All payments hereunder (including commitment fees, payments required under Section 2.07 relating to any Loan denominated in Dollars, and payments required under Section 2.08 relating to any Loan denominated in Dollars, but not including principal of, and interest on, any Loan denominated in any Foreign Currency or payments relating to any such Loan required under Section 2.08, which are payable in such Foreign Currency) (except to the extent otherwise provided therein) shall be made in Dollars. Notwithstanding the foregoing, if the Borrower shall fail to pay any principal of any Loan when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise), the unpaid portion of such Loan shall, if such Loan is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of its receipt of such payment redenomination and such principal shall be payable on demand; and if the Borrower shall fail to the date such refund pay any interest on any Loan that is received by the Administrative Agentnot denominated in Dollars, such interest to shall automatically be based redenominated in Dollars on the rate determined by due date therefor (or, if such due date is a day other than the Administrative Agent as its cost last day of funding for the Interest Period therefor, on the last day of such paymentInterest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such interest shall be payable on demand.

Payments by Borrowers. The Except to the extent otherwise provided herein, all payments of principal, interest, Fees and other amounts to be made by the Borrowers and each other Obligor shall make each payment required of it under this Agreement and under Agreement, the Notes or any other Loan Document not later than 11:00 a.m. (Londonshall be made in Dollars, England time) on the date due in Dollars immediately available funds, without setoff, deduction or counterclaim, to the Administrative Agent at its Funding the Principal Office, not later than 2:00 p.m. Eastern time on the date on which such payment shall become due (each such payment made after such time on such due date to be deemed to have been made on the next succeeding Business Day). Subject to Section 11.5, the Borrowers shall, at the time of making each payment under this Agreement or such any other location as Loan Document, specify to the Administrative Agent may designate the amounts payable by the Borrowers hereunder to which such payment is to be applied. Each payment received by the Administrative Agent for the account of a Lender under this Agreement or any Note shall be paid to such Lender by wire transfer of immediately available funds in writing accordance with the wiring instructions provided by such Lender to the Borrowers Administrative Agent from time to time, for the account of such Lender at the applicable Lending Office of such Lender. Each payment received by the Administrative Agent for the account of the Issuing Bank under this Agreement shall be paid to the Issuing Bank by wire transfer of immediately available funds in accordance with the wiring instructions provided by the Issuing Bank to the Administrative Agent from time to time, for the account of the Issuing Bank. In the event the Administrative Agent fails to pay such amounts to such Lender or such Obligor in same day funds without deductionthe Issuing Bank, set offas the case may be, or counterclaim within one Business Day of any kind. Upon its actual receipt of such payment in same day funds without deduction, set off, or counterclaim of any kindamounts, the Administrative Agent shall promptly thereafter calculate and cause to be distributed ratably to each Lender in accordance with pay interest on such Lender’s Pro Rata Share at each Lender’s respective Funding Office or to an account of such Lender amount until paid at a bank in New York City as notified rate per annum equal to the Administrative Agent at least five (5) Business Days prior Federal Funds Rate from time to such distribution, like funds relating to time in effect. If the due date of any payment of principal, interest, fees under this Agreement or any other amounts (other than amounts payable solely Loan Document would otherwise fall on a day which is not a Business Day such date shall be extended to the Administrative Agentnext succeeding Business Day and interest shall continue to accrue at the rate, the LC Issuerif any, or a specific Lender), and like funds relating applicable to the payment of interest, fees or any other amounts payable to the LC Issuer for its account at its Funding Office, in each case to be applied in accordance with this Agreement. If the Administrative Agent makes a payment to a Lender or the LC Issuer in circumstances where the Administrative Agent was for any reason not in actual receipt of same day funds for such payment without deduction, set off or counterclaim (it being understood that for the Administrative Agent shall have no obligation to make such a payment unless and until it actually receives such funds from the Borrowers), then such Lender or the LC Issuer (as the case may be) shall on demand therefor promptly refund such payment to the Administrative Agent together with accrued interest thereon from the date of its receipt period of such payment to the date such refund is received by the Administrative Agent, such interest to be based on the rate determined by the Administrative Agent as its cost of funding for such paymentextension.

Payments by Borrowers. The Borrowers Except to the extent otherwise provided herein, all payments of principal, interest, Fees and each other Obligor shall make each payment required amounts to be made by any Borrower, or the Company on behalf of it the applicable Borrower, under this Agreement and under Agreement, the Notes or any other Loan Document not later than 11:00 a.m. shall be made in Dollars, in immediately available funds, without setoff, deduction or counterclaim (Londonexcluding Taxes required to be withheld pursuant to Section 3.10.), England time) on the date due in Dollars to the Administrative Agent at its Funding the Principal Office, not later than 2:00 p.m. Eastern time on the date on which such payment shall become due (each such payment made after such time on such due date to be deemed to have been made on the next succeeding Business Day for any Base Rate Loan or such Daily SOFR Loan and on the next succeeding U.S. Government Securities Business Day for any Term SOFR Loan). Subject to Section 10.5., each Borrower, or the Company on behalf of the applicable Borrower, shall, at the time of making each payment under this Agreement or any other location as Loan Document, specify to the Administrative Agent may designate the amounts payable by such Borrower hereunder to which such payment is to be applied. Each payment received by the Administrative Agent for the account of a Lender under this Agreement or any Note shall be paid to such Lender by wire transfer of immediately available funds in writing accordance with the wiring instructions provided by such Lender to the Borrowers Administrative Agent from time to time, for the account of such Lender at the applicable Lending Office of such Lender. Each payment received by the Administrative Agent for the account of an Issuing Bank under this Agreement shall be paid to such Issuing Bank by wire transfer of immediately available funds in accordance with the wiring instructions provided by such Issuing Bank to the Administrative Agent from time to time, for the account of such Issuing Bank. In the event the Administrative Agent fails to pay such amounts to such Lender or such Obligor in same day funds without deductionIssuing Bank, set offas the case may be, or counterclaim within one Business Day of any kind. Upon its actual receipt of such payment in same day funds without deduction, set off, or counterclaim of any kindamounts, the Administrative Agent shall promptly thereafter calculate and cause to be distributed ratably to each Lender in accordance with pay interest on such Lender’s Pro Rata Share at each Lender’s respective Funding Office or to an account of such Lender amount until paid at a bank in New York City as notified rate per annum equal to the Administrative Agent at least five (5) Business Days prior Federal Funds Rate from time to such distribution, like funds relating to time in effect. If the due date of any payment of principal, interest, fees under this Agreement or any other amounts (other than amounts payable solely Loan Document would otherwise fall on a day which is not a Business Day or U.S. Government Securities Business Day, as applicable, such date shall be extended to the Administrative Agentnext succeeding Business Day or U.S. Government Securities Business Day, the LC Issuer, or a specific Lender)as applicable, and like funds relating interest shall continue to accrue at the payment of interestrate, fees or any other amounts payable if any, applicable to the LC Issuer for its account at its Funding Office, in each case to be applied in accordance with this Agreement. If the Administrative Agent makes a payment to a Lender or the LC Issuer in circumstances where the Administrative Agent was for any reason not in actual receipt of same day funds for such payment without deduction, set off or counterclaim (it being understood that for the Administrative Agent shall have no obligation to make such a payment unless and until it actually receives such funds from the Borrowers), then such Lender or the LC Issuer (as the case may be) shall on demand therefor promptly refund such payment to the Administrative Agent together with accrued interest thereon from the date of its receipt period of such payment to the date such refund is received by the Administrative Agent, such interest to be based on the rate determined by the Administrative Agent as its cost of funding for such paymentextension.