Receipt of Payments. Borrower shall make each payment under this Agreement (not otherwise made pursuant to Section 1.9) without set-off or counterclaim 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 the Collection Account. For purposes of computing interest and Fees, all payments shall be deemed received by Lender 2 Business Days following receipt of good funds in the Collection Account. For purposes of determining the Borrowing Availability, payments shall be deemed received by Lender upon receipt of good funds in the Collection Account.
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Samples: Loan and Security Agreement (U S Trucking Inc), Loan and Security Agreement (Conmat Technologies Inc)
Receipt of Payments. Borrower shall make each payment under this Agreement (not otherwise made pursuant to Section 1.9) without set-off or counterclaim not later than 11:00 A.M. 1:00 P.M. (New York City time) on the day when due in lawful money of the United States of America in immediately available funds to the Collection Account. For purposes of computing interest and Fees, all payments shall be deemed received by Lender 2 two (2) Business Days following receipt of good funds in the Collection Account. For purposes of determining the Borrowing Availability, payments shall be deemed received by Lender upon receipt of good funds in the Collection Account.
Appears in 1 contract
Samples: Loan and Security Agreement (Global Pharmaceutical Corp \De\)
Receipt of Payments. Borrower shall make each payment under this Agreement (not otherwise made pursuant to Section 1.9) without set-off or counterclaim 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 the Collection Account. For purposes of computing interest and Fees, all payments shall be deemed received by Lender 2 one (1) Business Days Day following receipt of good funds in the Collection Account. For purposes of determining the Borrowing Availability, payments shall be deemed received by Lender upon receipt of good funds in the Collection Account.
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Samples: Trademark Security Agreement (Sentry Technology Corp)
Receipt of Payments. Borrower shall make each payment under this Agreement (not otherwise made pursuant to Section 1.9) without set-off or counterclaim not later than 11:00 10:00 A.M. (New York City Chicago time) on the day when due in lawful money of the United States of America in immediately available funds to the Collection Account. For purposes of computing interest and Fees, all payments shall be deemed received by Lender 2 on the Business Days following Day of receipt of good funds in the Collection Account. For purposes of determining the Borrowing Availability, payments shall be deemed received by Lender upon receipt of good funds in the Collection Account.
Appears in 1 contract
Samples: Loan and Security Agreement (Heartland Technology Inc)
Receipt of Payments. Borrower shall make each payment under this Agreement ------------------- (not otherwise made pursuant to Section 1.91.11) without set-off or counterclaim not later than 11:00 A.M. 2:00 PM (New York City time) on the day when due in lawful money of the United States of America in immediately available funds to the Collection Account. For purposes of computing interest and Feesfees, all payments shall be deemed received by Lender 2 one (1) Business Days Day following receipt of good funds in the Collection Account. For purposes of determining the Borrowing Availability, payments shall be deemed received by Lender upon receipt of good funds in the Collection Account.
Appears in 1 contract
Samples: Loan and Security Agreement (Pharmaceutical Resources Inc)
Receipt of Payments. Borrower shall make each payment under this ------------------- Agreement (not otherwise made pursuant to Section 1.91.11) without set-off or counterclaim not later than 11:00 A.M. 12:00 P.M. (New York City time) on the day when due in lawful money of the United United- States of America in immediately available funds to the Collection Account. For purposes of computing interest and Feesfees, all payments shall be deemed received by Lender 2 on the Business Days following Day of receipt of good funds in the Collection Account. For purposes of determining the Borrowing Availability, payments shall be deemed received by Lender upon receipt of good funds in the Collection Account.
Appears in 1 contract
Samples: Loan and Security Agreement (Heartland Technology Inc)
Receipt of Payments. Borrower shall make each payment under this Agreement (not otherwise made pursuant to Section 1.91.10) without set-off or counterclaim not later than 11:00 A.M. 12:00 P.M. (New York City time) on the day when due in lawful money of the United States of America in immediately available funds to the Collection Account. For purposes of computing interest and Feesfees, all payments shall be deemed received by Lender 2 Business Days following receipt of good funds in the Collection Account. For purposes of and determining the Borrowing Availability and Net Borrowing Availability, all payments shall be deemed received by Lender upon receipt of good funds in the Collection Account.
Appears in 1 contract
