Common use of Time and Place of Payments Clause in Contracts

Time and Place of Payments. Unless otherwise expressly provided herein, the Borrower shall make all payments pursuant to this Agreement or pursuant to any document, instrument or agreement delivered pursuant hereto by deposit to the appropriate Designated Account before 12:00 noon (Toronto time) on the day specified for payment and the Agent shall be entitled to withdraw the amount of any payment due to the Agent, the Lenders or any of them from such account on the day specified for payment. Any such payment received on the day specified for such payment but after 12:00 noon (Toronto time) thereon shall be deemed to have been received prior to 12:00 noon (Toronto time) on the Business Day immediately following such day specified for payment.

Time and Place of Payments. Unless Except as otherwise expressly provided herein, the Borrower Borrowers shall make all payments pursuant to this Agreement agreement or pursuant to any document, instrument or agreement delivered pursuant hereto by deposit to the appropriate applicable Designated Account before 12:00 noon 1:00 p.m. (Toronto time) on the day specified for payment and the Agent shall be entitled to withdraw the amount of any payment due to the Agent, Agent or the Lenders or any of them from such account on the day specified for payment. Any such payment received on the day specified for such payment but after 12:00 noon 1:00 p.m. (Toronto time) thereon shall be deemed to have been received prior to 12:00 noon 1:00 p.m. (Toronto time) on the Business Banking Day immediately following such day specified for payment.