Common use of Place and Application of Payments Clause in Contracts

Place and Application of Payments. All payments of principal and interest made by the Company in respect of the Notes, Reimbursement Obligations and all fees payable by the Company hereunder, shall be made to the Agent at its principal office in Chicago, Illinois and in immediately available funds, prior to 12:00 noon on the date of such payment without set-off, counterclaim or deduction other than those permitted or required by Section 11.21. Any payments received after 12:00 noon Chicago time (or after such later time as the Banks may otherwise direct) shall be deemed received upon the following Business Day. The Agent shall remit to each Bank its proportionate share of each payment of principal, interest and fees, received by the Agent, on the same Business Day on which such payment is received before 12:00 noon, Chicago time, or is deemed to have been received by the Agent. In the event the Agent does not remit any amount to any Bank when required by the preceding sentence, the Agent shall pay to such Bank interest on such amount until paid at a rate per annum equal to the Fed Funds Rate. The Company hereby authorizes the Agent to automatically debit its general operating account with the Agent or one of its Affiliates for any principal, interest and fees when due under the Notes or this Agreement and to transfer the amount so debited from such account to the Agent for application as herein provided, but the Agent shall give prompt telephonic notice thereof to the Company.

Place and Application of Payments. All payments of principal and interest made by the Company in respect of the Notes, Reimbursement Obligations and all fees payable by the Company hereunder, shall be made to the Agent at its principal office in Chicago, Illinois and in immediately available funds, prior to 12:00 noon on the date of such payment is due without set-off, counterclaim or deduction other than those permitted or required by Section 11.21. Any payments received after 12:00 noon Chicago time (or after such later time as the Banks may otherwise direct) shall be deemed received upon the following Business Day. The Agent shall remit to each Bank its proportionate share of each payment of principal, interest and fees, received by the Agent, on the same Business Day on which such payment is received before 12:00 noon, Chicago time, or is deemed to have been received by the Agent. In the event the Agent does not remit any amount to any Bank when required by the preceding sentence, the Agent shall pay to such Bank interest on such amount until paid at a rate per annum equal to the Fed Funds Rate. The Company hereby authorizes the Agent to automatically debit its general operating account with the Agent or one of its Affiliates for any principal, interest and fees when due from the Company under the Notes or this Agreement and to transfer the amount so debited from such account to the Agent for application as herein provided, but the Agent shall give prompt telephonic notice thereof to the Company.

Place and Application of Payments. All payments of principal and interest made by the Company in respect of the Notes, Reimbursement Obligations and all fees payable by the Company hereunder, Borrower hereunder shall be made to the Administrative Agent at its principal office in Chicagoat 000 Xxxx Xxxxxx Xxxxxx, Illinois Xxxxxxx, Xxxxxxxx 00000 and in immediately available funds, prior to 12:00 noon on the date of such payment payment. All such payments shall be made without set-offsetoff or counterclaim and without reduction for, counterclaim and free from, any and all present and future levies, imposts, duties, fees, charges, deductions withholdings, restrictions or deduction other than those permitted conditions of any nature imposed by any government or required by Section 11.21any political subdivision or taxing authority thereof. Any payments received after 12:00 noon Chicago time (or after such any later time as the Banks may otherwise direct) shall be deemed received upon the following Business Day. The Administrative Agent shall remit to each Bank its proportionate share of each payment of principal, interest and fees, facility fees received by the Agent, Administrative Agent by 3:00 P.M. Chicago time on the same Business Day on which day of its receipt and its proportionate share of each such payment is received before 12:00 noon, Chicago time, or is deemed to have been received by the Administrative Agent after 12:00 noon on the Business Day following its receipt by the Administrative Agent. In the event the Administrative Agent does not remit any amount to any Bank when required by the preceding sentence, the Administrative Agent shall pay to such Bank interest on such amount until paid at a rate per annum equal to the Fed Funds Rate. The Company Borrower hereby authorizes the Administrative Agent to automatically debit its general operating designated account with the Agent or one of its Affiliates Xxxxxx for any principal, interest and fees when due under the Notes Notes, any L/C Agreements or this Agreement and to transfer the amount so debited from such account to the Administrative Agent for application as herein provided, but the Agent shall give prompt telephonic notice thereof to the Company.

Place and Application of Payments. All payments of principal and interest made by the Company in respect of the Notes, Reimbursement Obligations and all fees payable by the Company hereunder, Borrowers hereunder shall be made to the Administrative Agent at its principal office in Chicagoat 000 Xxxx Xxxxxx Xxxxxx, Illinois Xxxxxxx, Xxxxxxxx 00000 and in immediately available funds, prior to 12:00 noon on the date of such payment payment. All such payments shall be made without set-offsetoff or counterclaim and without reduction for, counterclaim and free from, any and all present and future levies, imposts, duties, fees, charges, deductions withholdings, restrictions or deduction other than those permitted conditions of any nature imposed by any government or required by Section 11.21any political subdivision or taxing authority thereof. Any payments received after 12:00 noon Chicago time (or after such any later time as the Banks may otherwise direct) shall be deemed received upon the following Business Day. The Administrative Agent shall remit to each Bank its proportionate share of each payment of principal, interest and fees, facility fees received by the Agent, Administrative Agent by 3:00 P.M. Chicago time on the same Business Day on which day of its receipt and its proportionate share of each such payment is received before 12:00 noon, Chicago time, or is deemed to have been received by the Administrative Agent after 12:00 noon on the Business Day following its receipt by the Administrative Agent. In the event the Administrative Agent does not remit any amount to any Bank when required by the preceding sentence, the Administrative Agent shall pay to such Bank interest on such amount until paid at a rate per annum equal to the Fed Funds Rate. The Company Each Borrower hereby authorizes the Administrative Agent to automatically debit its general operating designated account with the Agent or one of its Affiliates Xxxxxx for any principal, interest and fees when due under the Notes Notes, any L/C Agreements or this Agreement and to transfer the amount so debited from such account to the Administrative Agent for application as herein provided, but the Agent shall give prompt telephonic notice thereof to the Company.

Place and Application of Payments. All payments of principal and interest made by the Company in respect of the Notes, Reimbursement Obligations and all fees payable by the Company hereunder, shall be made to the Agent at its principal office in Chicago, Illinois and in immediately available funds, prior to 12:00 noon on the date of such payment is due without set-off, counterclaim or deduction other than those permitted or required by Section 11.21. Any payments received after 12:00 noon Chicago time (or after such later time as the Banks may otherwise direct) shall be deemed received upon the following Business Day. The Agent shall remit to each Bank its proportionate share of each payment of principal, interest and fees, received by the Agent, on the same Business Day on which such payment is received before 12:00 noon, Chicago time, or is deemed to have been received by the Agent. In the event the Agent does not remit any amount to any Bank when required by the preceding sentence, the Agent shall pay to such Bank interest on such amount until paid at a rate per annum equal to the Fed Federal Funds Rate. The Company hereby authorizes the Agent to automatically debit its general operating account with the Agent or one of its Affiliates for any principal, interest and fees when due from the Company under the Notes or this Agreement and to transfer the amount so debited from such account to the Agent for application as herein provided, but the Agent shall give prompt telephonic notice thereof to the Company.

Place and Application of Payments. All payments of principal and interest made by the Company in respect of the Notes, Reimbursement Obligations and all fees payable by the Company hereunder, Borrowers hereunder shall be made to the Administrative Agent at its principal office in Chicagoat 000 Xxxx Xxxxxx Xxxxxx, Illinois Xxxxxxx, Xxxxxxxx 00000 and in immediately available funds, prior to 12:00 noon on the date of such payment payment. All such payments shall be made without set-offsetoff or counterclaim and without reduction for, counterclaim and free from, any and all present and future levies, imposts, duties, fees, charges, deductions withholdings, restrictions or deduction other than those permitted conditions of any nature imposed by any government or required by Section 11.21any political subdivision or taxing authority thereof. Any payments received after 12:00 noon Chicago time (or after such any later time as the Banks may otherwise direct) shall be deemed received upon the following Business Day. The Administrative Agent shall remit to each Bank its proportionate share of each payment of principal, interest and fees, facility fees received by the Agent, Administrative Agent by 3:00 P.M. Chicago time on the same Business Day on which day of its receipt and its proportionate share of each such payment is received before 12:00 noon, Chicago time, or is deemed to have been received by the Administrative Agent after 12:00 noon on the Business Day following its receipt by the Administrative Agent. In the event the Administrative Agent does not remit any amount to any Bank when required by the preceding sentence, the Administrative Agent shall pay to such Bank interest on such amount until paid at a rate per annum equal to the Fed Funds Rate. The Company Each Borrower hereby authorizes the Administrative Agent to automatically debit its general operating designated account with the Agent or one of its Affiliates Xxxxxx for any principal, interest and fees when due under the Notes or this Agreement and to transfer the amount so debited from such account to the Administrative Agent for application as herein provided, but the Agent shall give prompt telephonic notice thereof to the Company.

Place and Application of Payments. All payments of principal and interest made by the Company in respect of the Notes, Reimbursement Obligations and all fees payable by the Company hereunder, shall be made to the Agent at its principal office in at 111 West Monroe Street, Chicago, Illinois Illinois, 60690 and in immediately available fundsaxxxxxxxx xxxxx, prior to 12:00 noon on the date xxxxx xx 00:00 xxxx xx xxx xxxx of such payment without set-off, counterclaim or deduction other than those permitted or required by Section 11.21payment. Any payments received after 12:00 noon Chicago time (or after such later time as the Banks may otherwise direct) shall be deemed received upon the following Business Day. The Agent shall remit to each Bank its proportionate share of each payment of principal, interest and fees, received by the Agent, on the same Business Day on which such payment is received before 12:00 noon, Chicago time, or is deemed to have been received by the Agent. In the event the Agent does not remit any amount to any Bank when required by the preceding sentence, the Agent shall pay to such Bank interest on such amount until paid at a rate per annum equal to the Fed Funds Rate. The Company hereby authorizes the Agent to automatically debit its general operating account with the Agent or one of its Affiliates Harris for any principal, interest and fees when due under the Notes or this xx xxxs Agreement and to transfer the amount so debited from such account to the Agent for application as herein provided, but the Agent shall give prompt telephonic notice thereof to the Company.