Payment Branch definition

Payment Branch has the meaning set forth in the definition of ''Relevant Payment Branch.'' ''U.S. Perfection Certificate'' means a certificate substantially in the form of Exhibit L-2. ''U.S. Prime Rate'' means, at any time, the rate per annum equal to the greater of (i) the Federal Funds Rate then in effect plus 50 basis points and (ii) the variable rate of interest per annum, expressed on the basis of a 365- or 366-day year, as the case may be, established or quoted from time to time by the Administrative Agent as the reference rate of interest then in effect for determining interest rates on U.S. Dollar-denominated commercial loans made by it in the United States of America, and referred to by it as its ''U.S. prime rate.'' If for any reason the Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that it is unable after due inquiry to ascertain the Federal Funds Rate for any reason, the U.S. Prime Rate shall be determined by the Administrative Agent without regard to clause (i) of the first sentence of this definition until the circumstances giving rise to such inability no longer exist. The prime rate is not necessarily the lowest rate charged by the Administrative Agent to its customers.
View Source
Payment Branch means the office of CIBC Inc., 7th Floor, 425 ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇ such other office or branch of the Administrative Agent or one of its Affiliates in the United States of America as the Administrative Agent may from time to time designate in writing to the Borrower.
View Source

Examples of Payment Branch in a sentence

  • Payment Branch, or at such other location as may be agreed upon by the Agent and the Canadian Borrower, for the account of the Lenders entitled to such payment, not later than 12:00 noon (Toronto time) for value on the date when due, and will be made in immediately available funds without set-off or counterclaim.

  • The U.S. Revolving Borrower and the U.S. Term Borrower shall jointly establish, in the name of the U.S. Revolving Borrower and the U.S. Term Borrower, and maintain an interest-bearing cash collateral account (the “Collateral Account”) at the Relevant Payment Branch of the U.S. Revolving Borrower or the U.S. Term Borrower, which shall be in the control of the Administrative Agent for the benefit of the Secured Parties.

  • The Canadian Borrower shall establish and maintain a U.S. dollar, Canadian dollar and Euro interest-bearing cash collateral account (collectively, the "Collateral Account") at the Relevant Payment Branch of the Canadian Borrower.

  • Payment Branch for the Rateable account of the Lenders entitled to such payment not later than 12:00 noon for value on the date when due, and shall be made in immediately available funds without set-off or counterclaim.

  • Place of Payment of Principal, Interest and Fees The Borrower undertakes at all times when any Advance is outstanding or any other amount is owed by it under this Agreement to maintain at the Agent’s Payment Branch an account in US Dollars.

  • Hard copies of invoices and accompanying documentation shall be addressed to: LAUSD-Division of Special Education Fiscal Nonpublic Payment Branch ▇▇▇ ▇.

  • The Canadian Borrower shall establish and maintain a U.S. dollar, Canadian dollar and Euro interest-bearing cash collateral account (collectively, the “Collateral Account”) at the Relevant Payment Branch of the Canadian Borrower.

  • Dollar chequing accounts and US Dollar chequing accounts, as the case may be, maintained from time to time with the Swingline Lender at the Agent's Payment Branch (or in such other accounts with the Swingline Lender at such other branch of the Swingline Lender as may be agreed upon by the Swingline Lender and the applicable Borrower from time to time).