Common use of Place and Manner of Payment Clause in Contracts

Place and Manner of Payment. All sums due under this Note are payable not later than 5:00 P.M., Pomona, CA. time, in legal tender of the United States of America current on the dates such sums or payments are respectively due, in immediately available funds, without offset or setoff. All payments in excess of $10,000 shall be made at the option of the Holder by wire transfer to a bank account designated in writing to the Company by the Holder not less than five days prior to the time such payment is due and, if no such designation has been made by the Holder, by check mailed by certified or registered mail to the address of the Holder designated in accordance with Section 13(a). Any remittances by check shall be made on the second day prior to the time such payment is due subject to the condition that such check may be handled for collection in accordance with the practice of the collecting bank or banks, and any receipt shall be void unless the amount due is actually received by the Holder.