Common use of Payments under this Agreement Clause in Contracts

Payments under this Agreement. (1) Unless otherwise expressly provided in this Agreement, the applicable Borrower shall make any payment required to be made by it to the Administrative Agent or any Lender by depositing the amount of the payment in the relevant currency to the relevant Borrower’s Account not later than 10:00 a.m. (New York time) on the date the payment is due. The applicable Borrower shall make each such payment (i) in U.S. Dollars; and (ii) except as specifically otherwise provided, in the Equivalent U.S. $ Amount, if the Accommodation was originally made in any other currency. In respect of the Revolving Credit Facility, the Administrative Agent shall distribute to each applicable Lender, promptly on the date of receipt by the Administrative Agent of any payment, an amount equal to the amount then due each such Lender.

Appears in 4 contracts

Samples: Credit Agreement (Open Text Corp), Credit Agreement (Open Text Corp), Credit Agreement (Open Text Corp)

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Payments under this Agreement. (1) Unless otherwise expressly provided in this Agreement, the applicable Borrower shall make any payment required to be made by it to the Administrative Agent or any Lender by depositing the amount of the payment in the relevant currency to the relevant Borrower’s Account not later than 10:00 a.m. (New York time) on the date the payment is due. The applicable Borrower shall make each such payment (i) in U.S. Dollars; and (ii) except as specifically otherwise provided, in the Equivalent U.S. $ Amount, if the Accommodation was originally made in any other currency. In respect of the Revolving Credit Facility and Term Loan Facility, the Administrative Agent shall distribute to each applicable Lender, promptly on the date of receipt by the Administrative Agent of any payment, an amount equal to the amount then due each such Lender.

Appears in 1 contract

Samples: Credit Agreement (Open Text Corp)

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