Common use of Payments, Computations, etc Clause in Contracts

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 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 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 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 on an Alternate Base Rate Loan, 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iii) 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 in connection with that payment.

Appears in 2 contracts

Samples: Credit Agreement (Associated Materials Inc), Credit Agreement (Associated Materials Inc)

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Payments, Computations, etc. Unless otherwise expressly provided in a any applicable Loan Document, all payments by the Borrower Borrowers pursuant to each Loan Document shall be made by the such Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 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 BorrowerCompany. Funds received after 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 interest (including interest on Eurodollar 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 on an Alternate a Base Rate LoanLoan (calculated at other than the Federal Funds Rate), 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Sterling Chemical Inc), Production Agreement (Sterling Chemical Inc)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 1:00 p.m. 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 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 interest (including interest on Eurodollar 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 on an Alternate a Base Rate LoanLoan (calculated at other than the Federal Funds Rate), 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment.

Appears in 2 contracts

Samples: Credit Agreement (Stericycle Inc), Credit Agreement (Stericycle Inc)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Loan Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 11:00 a.m. 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 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 Loan Party its share, if any, of such payments received by the Administrative Agent for the account of such LenderLoan Party. All interest (including interest on Eurodollar 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 on an Alternate a Base Rate LoanLoan (calculated at other than the Federal Funds Rate), 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Ust Inc), Bridge Credit Agreement (Ust Inc)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Financing Document, all payments by the Borrower pursuant to each Loan Document hereunder shall be made by the Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders entitled to receive such paymentAgent. All payments shall be made in Dollars in New York, New York without setoff, deduction or counterclaim not later than 12:00 noon 1:00 p.m. New York 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 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, for account of such Lender’s Applicable Lending Office, its share, if any, of such payments received by the Administrative Agent for the account of such LenderAgent. All interest (including interest on Eurodollar 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 three hundred sixty (360) days (or, in the case of interest on an Alternate a Base Rate Loan, 365 three hundred sixty-five (365) days or, if appropriate, 366 three hundred sixty-six (366) days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iii) 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 in connection with that payment.

Appears in 2 contracts

Samples: Credit Agreement (Brookfield Infrastructure Partners L.P.), Credit Agreement (Brookfield Infrastructure Partners L.P.)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 11:00 a.m. 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 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 interest (including interest on Eurodollar 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 on an Alternate a Base Rate LoanLoan (calculated at other than the Federal Funds Rate), 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment.

Appears in 2 contracts

Samples: Credit Agreement (Ust Inc), Credit Agreement (CTC Communications Group Inc)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata PRO RATA account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 11:00 a.m. 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 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 interest (including interest on Eurodollar 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 on an Alternate a Base Rate LoanLoan (calculated at other than the Federal Funds Rate), 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause CLAUSE (iiib) 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 in connection with that payment.

Appears in 1 contract

Samples: Credit Agreement (Commemorative Brands Inc)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the each Borrower pursuant to each Loan Document shall be made by the such Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction (except as permitted under Section 4.6(f)) or counterclaim not later than 12:00 noon 11:00 a.m. 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 BorrowerBorrowers. Funds received after 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 interest (including interest on Eurodollar 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 on an Alternate a Base Rate LoanLoan (calculated at other than the Federal Funds Rate), 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment.

Appears in 1 contract

Samples: Credit Agreement (WRC Media Inc)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower Borrowers pursuant to each Loan Document shall be made by the such Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 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 BorrowerCompany. Funds received after 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 interest (including interest on Eurodollar 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 on an Alternate a Base Rate LoanLoan (calculated at other than the Federal Funds Rate), 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Sterling Chemical Inc)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower Borrowers pursuant to each Loan Document shall be made by the Borrower Borrowers to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 11:00 a.m. (New York 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 Administrative Borrower. Funds received after 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 interest (including interest on Eurodollar 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 on an Alternate a Base Rate Loan, 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment. The Agent shall apply amounts contained in the accounts of the Borrowers maintained with the Agent to amounts due to the Agent and the Lenders under the Loan Documents when due.

Appears in 1 contract

Samples: Credit Agreement (Winn Dixie Stores Inc)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 12:30 p.m. 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 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 interest (including interest on Eurodollar 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 on an Alternate a Base Rate LoanLoan (calculated at other than the Federal Funds Rate), 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment.. The Borrower, the Lenders and the Agents hereby agree that in the event any payment is made by the Borrower or any other Obligor which is less than the Obligations then due, such payment will be applied upon receipt as follows:

Appears in 1 contract

Samples: Credit Agreement (Graphic Packaging Corp)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 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 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 interest (including interest on Eurodollar Loans) and fees Base Rate Loans shall be computed on the basis of a year of 365 days or 366 days, as the case may be, and all other computations of interest (including interest on LIBOR Rate Loans) and fees payable hereunder shall be made on the basis of a year of 360 days, in each case for the actual number of days (including the first day but excluding the last day) occurring during in the period for which such interest or fee is payable over a year comprised of 360 days (or, in the case of interest on an Alternate Base Rate Loan, 365 days or, if appropriate, 366 days)fees are payable. Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (Municipal Mortgage & Equity LLC)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 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 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 interest (including other than interest on Eurodollar 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 on an Alternate Base Rate Loan, 365 days or, if appropriate, 366 days. All interest on Eurodollar Rate Loans shall be computed on the basis of 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. Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment.

Appears in 1 contract

Samples: Credit Agreement (Global Power Equipment Group Inc/)

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Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 11:00 a.m. 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 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 interest (including interest on Eurodollar 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 on an Alternate a Base Rate Loan, 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment.

Appears in 1 contract

Samples: Credit Agreement (Winn Dixie Stores Inc)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 11:00 a.m. 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 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 interest (including interest on Eurodollar LIBO Rate Term 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 on an Alternate a Base Rate LoanLoan (calculated at other than the Federal Funds Rate), 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment. The Cash Reserve Accounts may be debited by the Administrative Agent from time to time when any Obligations are due and owning, and the Borrower hereby expressly authorizes such debiting.

Appears in 1 contract

Samples: Credit Agreement (Marvel Enterprises Inc)

Payments, Computations, etc. (a) Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Credit Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 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 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 Credit Party its share, if any, of such payments received by the Administrative Agent for the account of such LenderCredit Party. All interest (including interest on Eurodollar 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 on an Alternate a Base Rate LoanLoan (calculated at other than the Federal Funds Rate), 365 days or, if appropriate, 366 days). Payments Except as otherwise provided herein, payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment.

Appears in 1 contract

Samples: Credit Agreement (Southern Bottled Water Co Inc)

Payments, Computations, etc. (a) Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Credit Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 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 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 Credit Party its share, if any, of such payments received by the Administrative Agent for the account of such LenderCredit Party. All interest (including interest on Eurodollar 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 on an Alternate a Base Rate LoanLoan (calculated at other than the Federal Funds Rate), 365 days or, if appropriate, 366 days). Payments Except as otherwise provided herein, payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) of the definition of the term "Interest Period") be made on the next succeeding 42 Business Day and such extension of time shall be included in computing interest and fees in connection with that payment.

Appears in 1 contract

Samples: Credit Agreement (Reddy Ice Holdings Inc)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower Borrowers pursuant to each Loan Document shall be made by the Borrower Borrowers to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 11:00 a.m. 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 Administrative Borrower. Funds received after 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 interest (including interest on Eurodollar 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 on an Alternate a Base Rate Loan, 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment. The Administrative Agent shall apply amounts contained in the accounts of the Borrowers maintained with the Administrative Agent to amounts due to the Agents and the Lenders under the Loan Documents when due.

Appears in 1 contract

Samples: Credit Agreement (Winn Dixie Stores Inc)

Payments, Computations, etc. Unless otherwise expressly provided in a any applicable Loan Document, all payments by the Borrower Borrowers pursuant to each Loan Document shall be made by the such Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 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 BorrowerCompany. Funds received after 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 interest (including interest on Eurodollar 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 on an Alternate a Base Rate LoanLoan (calculated at other than the Federal Funds Rate), 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Sterling Chemicals Inc)

Payments, Computations, etc. Unless otherwise expressly provided in a Loan Document, all payments by the Borrower pursuant to each Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Administrative Agent and the Lenders Secured Parties entitled to receive such payment. All payments shall be made without setoff, deduction or counterclaim not later than 12:00 noon 1:00 p.m. 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 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 interest (including interest on Eurodollar 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 on an Alternate a Base Rate LoanLoan (calculated at other than the Federal Funds Effective Rate), 365 days or, if appropriate, 366 days). Payments due on a day other than a Business Day shall (except as otherwise required by clause (iiic) 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 in connection with that payment.

Appears in 1 contract

Samples: Credit Agreement (North Shore Agency Inc)

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