Common use of Payments, Computations, etc Clause in Contracts

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “Interest Period”) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 4 contracts

Samples: Credit Agreement (Strategic Hotels & Resorts, Inc), Credit Agreement (Strategic Hotel Capital Inc), Credit Agreement (Strategic Hotels & Resorts, Inc)

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Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit Agreement or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m.11:00 a.m., New York City Central time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, andin the case of interest on a Base Rate Loan, with respect to LIBO Rate Loans365 days or, on the expiration of the applicable LIBO contractif appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “Interest Period” with respect to Eurodollar Loans) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 4 contracts

Samples: Credit Agreement (Noble Energy Inc), Term Loan Agreement (Noble Energy Inc), Credit Agreement (Noble Energy Inc)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 1:00 p.m., New York City time, on such due date shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest and fees for LIBO Rate Loans and Base Rate Loans (calculated at other than with respect to Base Rate Loans accruing interest based on the Federal Funds Base Rate as compared to Alternate Base Rate), and all computations of Letter of Credit fees ) and issuance fees pursuant to Section 3.3.3, in each case shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract. All computations of interest and fees for Base Rate Loans accruing interest based on the Base Rate as compared to Alternate Base Rate shall be made on the basis of a 365/366-day year and actual days elapsed. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “Interest Period” and except with respect to the Maturity Date) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 3 contracts

Samples: Credit Agreement (Cole Credit Property Trust II Inc), Credit Agreement (Spirit Realty Capital, Inc.), Credit Agreement (Spirit Realty Capital, Inc.)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by or on behalf of the Borrower pursuant to this Agreement, the Notes, each Letter of Credit Notes or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders Lenders, Agents or Arrangers, as applicable, entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender Lender, Agent or Arranger, as the case may be, its share, if any, of such payments received by the Administrative Agent for the account of such Lender, Agent or Arranger, as the case may be. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, andin the case of interest on a Base Rate Loan, with respect to LIBO Rate Loans365 days or, on the expiration of the applicable LIBO contractif appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (ci) of the definition of the term "Interest Period") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 3 contracts

Samples: Credit Agreement (Brand Scaffold Services Inc), Credit Agreement (Brand Scaffold Services Inc), Credit Agreement (Brand Scaffold Services Inc)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations interest (including interest on LIBO Rate Loans) and fees shall be computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a year comprised of 360 days (or, in the case of interest for LIBO Rate Loans and on a Base Rate Loans Loan (calculated at other than the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3365 days or, in each case shall be made on the basis of a 360-day year and actual days elapsedif appropriate, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term "Interest Period") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 2 contracts

Samples: Senior Secured Credit Agreement (Titan Corp), Security Agreement (Titan Corp)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower Revolving Credit Loan Borrowers pursuant to this Agreement, the Revolving Credit Notes, each Letter of Credit or any other Revolving Credit Loan Document shall be made by the Borrower Revolving Credit Borrowers to the Administrative Agent for the pro rata account of the Revolving Credit Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m.12:00 noon, New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the BorrowerRevolving Credit Borrowers. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit on the day it has received (or is deemed to have received under the preceding sentence) in same day funds to each Revolving Credit Lender its share, if any, of such payments received by the Administrative Agent for the account of such Revolving Credit Lender. All computations interest (including interest on LIBO Rate Loans) and fees shall be computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a year comprised of 360 days (or, in the case of interest for LIBO Rate Loans and on a Base Rate Loans Loan (calculated at other than the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3365 days or, in each case shall be made on the basis of a 360-day year and actual days elapsedif appropriate, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term "Interest Period") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Specialty Foods Corp), Revolving Credit Agreement (Specialty Foods Acquisition Corp)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by or on behalf of the Borrower pursuant to this Agreement, the Notes, each Letter of Credit Agreement or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders Lenders, Agents or Lead Arranger, as applicable, entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m.11:00 a.m., New York City Los Angeles time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender Lender, Agent or Lead Arranger, as the case may be, its share, if any, of such payments received by the Administrative Agent for the account of such Lender, Agent or Lead Arranger, as the case may be. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, andin the case of interest on a Base Rate Loan, with respect to LIBO Rate Loans365 days or, on the expiration of the applicable LIBO contractif appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (ci) of the definition of the term "Interest Period") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 2 contracts

Samples: Credit Agreement (Charles River Laboratories Holdings Inc), Credit Agreement (Charles River Laboratories Inc)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Term Notes, each Letter of Credit or any other Term Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Term Loan Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m.12:00 noon, New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit on the day it has received (or is deemed to have received under the preceding sentence) in same day funds to each Term Loan Lender its share, if any, of such payments received by the Administrative Agent for the account of such Term Loan Lender. All computations interest (including interest on LIBO Rate Loans) and fees shall be computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a year comprised of 360 days (or, in the case of interest for LIBO Rate Loans and on a Base Rate Loans Loan (calculated at other than the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3365 days or, in each case shall be made on the basis of a 360-day year and actual days elapsedif appropriate, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term Interest Period) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 2 contracts

Samples: Term Loan Agreement (Specialty Foods Corp), Term Loan Agreement (Specialty Foods Acquisition Corp)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City Charlotte time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations interest (including interest on LIBO Rate Loans) and fees shall be computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a year comprised of 360 days (or, in the case of interest for LIBO Rate Loans and on a Base Rate Loans Loan (calculated at other than the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3365 days or, in each case shall be made on the basis of a 360-day year and actual days elapsedif appropriate, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “Interest Period”) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 2 contracts

Samples: Senior Secured Credit Agreement (Titan Corp), Senior Secured Credit Agreement (Titan Corp)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata PRO RATA account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case ) shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO . All other computations (including for interest on Base Rate Loans, Loans (calculated at other than the Federal Funds Rate) and fees) shall be made on the expiration basis of a year or 365 or 366 days, as the applicable LIBO contractcase may be, and actual days elapsed. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause CLAUSE (cC) of the definition of the term “Interest Period”"INTEREST PERIOD") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (KSL Recreation Group Inc)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata PRO RATA account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case ) shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO . All other computations (including for interest on Base Rate Loans, Loans (calculated at other than the Federal Funds Rate) and fees) shall be made on the expiration basis of a year or 365 or 366 days, as the applicable LIBO contractcase may be, and actual days elapsed. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “Interest Period”"INTEREST PERIOD") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (KSL Recreation Group Inc)

Payments, Computations, etc. Unless otherwise expressly providedprovided in any Loan Document, all payments by or on behalf of the Borrower pursuant to this Agreement, the Notes, each Letter of Credit Agreement or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders Lenders, Issuer, Agents or Co-Lead Arrangers, as applicable, entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 2:00 p.m., New York City Denver, Colorado time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender Lender, Issuer, Agent or Co-Lead Arrangers, as the case may be, its share, if any, of such payments received by the Administrative Agent for the account of such Lender, Issuer, Agent or Co-Lead Arrangers, as the case may be. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, andin the case of interest on a Base Rate Loan, with respect to LIBO Rate Loans365 days or, on the expiration of the applicable LIBO contractif appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (ca) of the definition of the term "Interest Period") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Royster-Clark Nitrogen Realty LLC)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO Rate Loan contract. All computations of interest and fees for Base Rate Loans (whether calculated at the Federal Funds Rate or the Base Rate) shall be made on the basis of a 365/366-day year and actual days elapsed. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term "Interest Period") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Senior Unsecured Credit Agreement (Strategic Hotels & Resorts, Inc)

Payments, Computations, etc. Unless otherwise expressly providedprovided herein (including as set forth in Section 2.3 and Section 4.5), all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit Agreement or any other Loan Document shall will be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall will be made, without setoff, deduction or counterclaim, not later than 1:00 p.m.12:00 noon, New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall will specify from time to time by notice to the Borrower. Funds received after To the extent the Administrative Agent receives such funds prior to 2:00 p.m., New York City time, on such due date shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall will promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall will be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual days elapsed, and, with respect to LIBO Rate Loans, on the expiration comprised of the applicable LIBO contract360 days. Whenever any payment to be made shall will otherwise be due on a day which is not a Business DayDay in New York, such payment shall will (except as otherwise required by clause (cb) of the definition of the term "Interest Period") be made on the next succeeding Business Day and such extension of time shall will be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Authentic Fitness Corp)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract. All computations of interest and fees for Base Rate Loans (whether calculated at the Federal Funds Rate or the Base Rate) shall be made on the basis of a 365/366-day year and actual days elapsed. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “Interest Period”) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Strategic Hotels & Resorts, Inc)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the any Borrower pursuant to this Agreement, the Notes, each Letter of Credit Notes or any other Loan Document shall be made by the any Borrower to the Administrative Agent for the pro rata account of the Lenders and the Issuer entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoffset off, deduction or counterclaim, not later than 1:00 p.m.11:00 a.m., New York City time, on the date due, in same day or immediately available fundsfunds and in the lawful currency of the United States of America, to the address of the Administrative Agent set forth on its signature page below or to any other address or to such account as the Administrative Agent shall specify from time to time by notice to the BorrowerBorrowers. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender and the Issuer its share, if any, of such payments received by the Administrative Agent for the account of such LenderLender or Issuer. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, andin the case of interest on a Base Rate Loan, with respect to LIBO Rate Loans365 days or, on the expiration of the applicable LIBO contractif appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term "Interest Period" with respect to LIBO Rate Loans) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Copano Energy, L.L.C.)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by or on behalf of the Borrower pursuant to this Agreement, the Notes, each Letter of Credit Agreement or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders or Administrative Agent, as applicable, entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 2:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender Lender, Agent or Lead Arranger, as the case may be, its share, if any, of such payments received by the Administrative Agent for the account of such Lender, Agent or Lead Arranger, as the case may be. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, andin the case of interest determined by reference to the Alternate Base Rate, with respect to LIBO Rate Loans365 days or, on the expiration of the applicable LIBO contractif appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (ci) of the definition of the term "Interest Period") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: And Combined Credit Agreement (Merrill Corp)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower Revolving Credit Loan Borrowers pursuant to this Agreement, the Revolving Credit Notes, each Letter of Credit or any other Revolving Credit Loan Document shall be made by the Borrower Revolving Credit Borrowers to the Administrative Agent for the pro rata account of the Revolving Credit Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m.12:00 noon, New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the BorrowerRevolving Credit Borrowers. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit on the day it has received (or is deemed to have received under the preceding sentence) in same day funds to each Revolving Credit Lender its share, if any, of such payments received by the Administrative Agent for the account of such Revolving Credit Lender. All computations interest (including interest on LIBO Rate Loans) and fees shall be computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a year comprised of 360 days (or, in the case of interest for LIBO Rate Loans and on a Base Rate Loans Loan (calculated at other than the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3365 days or, in each case shall be made on the basis of a 360-day year and actual days elapsedif appropriate, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term Interest Period) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Specialty Foods Corp)

Payments, Computations, etc. Unless otherwise expressly --------------------------- provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit Notes (other than the Swingline Note) or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders --- ---- entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction deduction, recoupment or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall reasonably specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate)interest, and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3Commitment Fees, in each case L/C Fees, Fronting Fees shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, andin the case of interest on a Base Rate Loan, with respect to LIBO Rate Loans365 days or, on the expiration of the applicable LIBO contractif appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of ---------- the term "Interest Period" with respect to Eurodollar Rate Loans) be made on the --------------- next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Whittaker Corp)

Payments, Computations, etc. Unless otherwise expressly provided--------------------------- provided in a Loan Document, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit Agreement or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders Secured Parties entitled to --- ---- receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m.11:00 a.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender Secured Party its share, if any, of such payments received by the Administrative Agent for the account of such LenderSecured Party. All computations interest (including interest on LIBO Rate Loans) and fees shall be computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a year comprised of 360 days (or, in the case of interest for LIBO Rate Loans and on a Base Rate Loans Loan (calculated at other than the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3365 days or, in each case shall be made on the basis of a 360-day year and actual days elapsedif appropriate, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term "Interest Period") be made ---------- on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Stillwater Mining Co /De/)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower to the Lenders pursuant to this Agreement, the Notes, each Letter of Credit Notes or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment, provided that during the continuance of any Event of Default all such payments shall be made by the Borrower to the AREP Agent. All such payments required to be made to the Administrative Agent Agents shall be made, without setoffset off, deduction or counterclaim, not later than 1:00 p.m.11:00 a.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative applicable Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, andin the case of interest on a Base Rate Loan, with respect to LIBO Rate Loans365 days or, on the expiration of the applicable LIBO contractif appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “Interest Period”"INTEREST PERIOD" with respect to Eurodollar Loans) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (American Real Estate Holdings L P)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such 50 payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter letter of Credit credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term "Interest Period") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Strategic Hotel Capital Inc)

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Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case ) shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO . All other computations (including for interest on Base Rate Loans, Loans (calculated at other than the Federal Funds Rate) and fees) shall be made on the expiration basis of a year or 365 or 366 days, as the applicable LIBO contractcase may be, and actual days elapsed. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term "Interest Period") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (KSL Recreation Group Inc)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (whether calculated at the Federal Funds Rate or the Base Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “Interest Period”) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Strategic Hotels & Resorts, Inc)

Payments, Computations, etc. (a) Unless otherwise expressly providedprovided herein, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m.p.m. (New York City, New York City time, ) on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations interest (including interest on Eurodollar Loans) and fees shall be computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a year comprised of 360 days (or, in the case of interest for LIBO Rate Loans and Base Rate Loans on an ABR Loan (other than when calculated at with respect to the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3365 days or, in each case shall be made on the basis of a 360-day year and actual days elapsedif appropriate, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “Interest Period” with respect to Eurodollar Loans) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Dollar Thrifty Automotive Group Inc)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by or on behalf of the Borrower pursuant to this Agreement, the Notes, each Letter of Credit Notes or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders Lenders, Agents or Arranger, as applicable, entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender Lender, Agent or Arranger, as the case may be, its share, if any, of such payments received by the Administrative Agent for the account of such Lender, Agent or Arranger, as the case may be. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, andin the case of interest on a Base Rate Loan, with respect to LIBO Rate Loans365 days or, on the expiration of the applicable LIBO contractif appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (ci) of the definition of the term "Interest Period") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Decisionone Corp /De)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., p.m. (New York City time), on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, andin the case of interest on a Base Rate Loan, with respect to LIBO Rate Loans365 days or, on the expiration of the applicable LIBO contractif appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (ca)(i) of the definition of the term "Interest Period" with respect to LIBO Rate Loans and clause (a)(ii) of the definition of "Interest Period" with respect to Competitive Bid Loans based on the LIBOR Auction) be made on the next succeeding 55- 63 Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Handy & Harman

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to or in respect of this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., 11:00 a.m. (New York City time), on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO and fees (including any Post-Default Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees interest payments made pursuant to Section 3.3.3, in each case 3.2.2) shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, and, with respect to LIBO in the case of interest on Base Rate Loans, on the expiration of the applicable LIBO contract365 days or, if appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term "Interest Period" with respect to LIBO Rate Loans) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment. The Administrative Agent is authorized to charge any account maintained by the Borrower with it for any Obligations owing to it or any of the Lenders.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Imo Industries Inc)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by or on behalf of the Borrower pursuant to this Agreement, the Notes, each Letter of Credit Notes or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata PRO RATA account of the Lenders Lenders, the Documentation Agent, the Agents or the Arranger, as applicable, entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m.11:00 a.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender Lender, the Documentation Agent, each Agent or the Arranger, as the case may be, its share, if any, of such payments received by the Administrative Agent for the account of such Lender, the Documentation Agent, such Agent or the Arranger, as the case may be. All computations interest and fees shall be computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a year comprised of 360 days (or, in the case of interest for LIBO Rate Loans and on a Base Rate Loans (Loan that is not calculated at the Federal Funds Rate, 365 days or, if appropriate, 366 days), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause CLAUSE (cA) of the definition of the term “Interest Period”"INTEREST PERIOD") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Duane Reade Inc)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower Borrowers pursuant to or in respect of this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower Borrowers to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., 11:00 a.m. (New York City time), on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the BorrowerUSAM. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual days elapsed, and, with respect to LIBO Rate Loans, on the expiration comprised of the applicable LIBO contract360 days. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term "Interest Period" with respect to LIBO Rate Loans) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment. The Agent is authorized to charge any account maintained by the Borrowers with it for any Obligations owing to it or any of the Lenders.

Appears in 1 contract

Samples: Security Agreement (Us Automotive Manufacturing Inc)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 3:30 p.m., New York City time, on such due date shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case ) shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO . All other computations (including for interest on Base Rate Loans, Loans (calculated at other than the Federal Funds Rate) and fees) shall be made on the expiration basis of a year or 365 or 366 days, as the applicable LIBO contractcase may be, and actual days elapsed. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “"Interest Period") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Regal Cinemas Inc)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m.11:00 a.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by written notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations interest (including interest on LIBO Rate Loans) and fees shall be computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a year comprised of 360 days (or, in the case of interest for LIBO Rate Loans and on a Base Rate Loans Loan (calculated at other than the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3365 days or, in each case shall be made on the basis of a 360-day year and actual days elapsedif appropriate, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term "Interest Period") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Prosource Inc)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m.11:00 a.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations interest (including interest on LIBO Rate Loans) and fees shall be computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a year comprised of 360 days (or, in the case of interest for LIBO Rate Loans and on a Base Rate Loans Loan (calculated at other than the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3365 days or, in each case shall be made on the basis of a 360-day year and actual days elapsedif appropriate, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term "Interest Period") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Aladdin Gaming Enterprises Inc)

Payments, Computations, etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to or in respect of this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., 11:00 a.m. (New York City time), on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans fees (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees including any post-default rate interest payments made pursuant to Section 3.3.3, in each case 3.2.2) shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, and, with respect to LIBO in the case of interest on Base Rate Loans, on the expiration of the applicable LIBO contract365 days or, if appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (cb) of the definition of the term "Interest Period" with respect to LIBO Rate Loans) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment. The Administrative Agent is authorized to charge any account maintained by the Borrower with it for any Obligations owing to it or any of the Lenders.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Key Components Finance Corp)

Payments, Computations, etc. Unless otherwise expressly providedprovided in this Agreement or the Confidential Payment Letter, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit Notes or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to shall be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m.11:00 a.m. (Houston, New York City Texas time, ) on the date due, in U.S. Dollars in same day or immediately available funds, to such account account, located in the State of New York, with the Administrative Agent as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 2:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business DayDay and any applicable interest or fee shall continue to accrue. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest for LIBO Rate Loans and Base Rate Loans (calculated at the Federal Funds Rate), and all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest and fees is payable over a year comprised of three hundred and sixty (360-day year and actual days elapsed, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract) days. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “Interest Period” with respect to LIBO Rate Loans) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Appears in 1 contract

Samples: Credit Agreement (Sonoran Energy Inc)

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