Receipt of Payments. Borrower shall make each payment under this Agreement not later than 11:00 A.M. (New York City time) on the day when due in lawful money of the United States of America in immediately available funds to Lender's depositary bank as designated by Lender from time to time for deposit in Lender's depositary account. For purposes only of computing interest hereunder, all payments shall be applied by Lender on the day payment has been credited by Lender's depository bank to Lender's account in immediately available funds. For purposes of determining the amount of funds available for borrowing by Borrower pursuant to Section 2.1(a) hereof, such payments shall be applied by Lender against the outstanding amount of the Loan at the time they are credited to its account.
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Samples: Loan Agreement (Intek Diversified Corp), Loan Agreement (Securicor International LTD), Loan Agreement (Intek Diversified Corp)
Receipt of Payments. (a) Borrower shall make each payment under this Agreement not later than 11:00 A.M. (New York City time) on the day when due in lawful money of the United States of America in immediately available funds to Lender's depositary bank as designated by Lender from time to time for deposit in Lender's depositary account. For purposes only of computing interest hereunder, all payments shall be applied by Lender on the day payment has been credited by Lender's depository bank to Lender's account in immediately available funds. For purposes of determining the amount of funds available for borrowing by Borrower pursuant to Section 2.1(a) hereof, such payments shall be applied by Lender against the outstanding amount of the Revolving Credit Loan at the time they are credited to its account.
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Receipt of Payments. (a) Borrower shall make each ------------------- payment under this Agreement not later than 11:00 A.M. (New York City time) on the day when due in lawful money of the United States of America in immediately available funds to Lender's depositary bank as designated by Lender from time to time for deposit in Lender's depositary account. For purposes only of computing interest hereunder, all payments shall be applied by Lender on the day payment has been credited by Lender's depository bank to Lender's account in immediately available funds. For purposes of determining the amount of funds available for borrowing by Borrower pursuant to Section 2.1(a) hereof, such payments shall be applied by Lender against the outstanding amount of the Loan at the time they are credited to its account.outstanding
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Receipt of Payments. Borrower shall make each payment ------------------- under this Agreement not later than 11:00 A.M. (New York City time) on the day when due in lawful money of the United States of America in immediately available funds to Lender's depositary bank as designated by Lender from time to time for deposit in Lender's depositary account. For purposes only of computing interest hereunder, all payments shall be applied by Lender on the day payment has been credited by Lender's depository bank to Lender's account in immediately available funds. For purposes of determining the amount of funds available for borrowing by Borrower pursuant to Section 2.1(a) hereof, such payments shall be applied by Lender against the outstanding amount of the Loan at the time they are credited to its account.
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