Common use of Manner of Payment Clause in Contracts

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the principal of or interest on the Loans and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 7 contracts

Samples: Term Loan Agreement (American Tower Corp /Ma/), Term Loan Agreement (American Tower Corp /Ma/), Term Loan Agreement (American Tower Corp /Ma/)

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Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, Revolving Commitment Fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders entitled to such payment or the Administrative Agent, as the case may be, in lawful money of the United States of America Dollars in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 5 contracts

Samples: Credit Agreement (Gray Television Inc), Credit Agreement (Gray Television Inc), Credit Agreement (Gray Television Inc)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders Banks or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders Banks or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender Bank or Lenders Banks hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender Bank or Lenders Banks on such Business Day. In the case of a payment for the account of a LenderBank, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such LenderBank. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders Banks accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender Bank as required under this Section 2.82.9, the Administrative Agent agrees to pay such Lender Bank interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 5 contracts

Samples: Loan Agreement (American Radio Systems Corp /Ma/), Loan Agreement (American Tower Systems Corp), Loan Agreement (American Tower Systems Corp)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 4 contracts

Samples: Loan Agreement, Loan Agreement (American Tower Corp /Ma/), Loan Agreement (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the principal of or interest on the Loans and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 4 contracts

Samples: Assignment and Assumption (American Tower Corp /Ma/), Assignment and Assumption (American Tower Corp /Ma/), Assignment and Assumption (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower EnergySolutions on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or Lender Parties, the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 2:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s OfficeAccount, for the account of the Lenders Lender Parties, or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available fundsfunds without set-off or counterclaim. Any payment received by the Administrative Agent after 1:00 2:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender hereunder at or Lenders hereunder prior to 1:00 2:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a LenderLender Party, the Administrative Agent will promptlypromptly thereafter (and, but no later than the close of business if such amount is received before 2:00 p.m. (New York time), on the date such payment is deemed received, thereafter same day) distribute the amount so received in like funds to such LenderLender Party. If the Administrative Agent shall not have received any payment from the Borrower EnergySolutions as and when due, the Administrative Agent will promptly notify the applicable Lenders Lender Parties accordingly. In Only upon its acceptance of an Assignment and Acceptance and recording of the event that information contained therein in the Register pursuant to Section 11.5(c), from and after the effective date of such Assignment and Acceptance, the Administrative Agent shall fail make all payments hereunder and under the Notes in respect of the interest assigned thereby to the Lender Party assignee thereunder, and the parties to such Assignment and Acceptance shall make distribution all appropriate adjustments in such payments for periods prior to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the effective date such payment was due until paid at the Federal Funds Ratedirectly between themselves.

Appears in 3 contracts

Samples: Credit Agreement (EnergySolutions, Inc.), Credit Agreement (EnergySolutions, Inc.), Second Lien Credit Agreement (EnergySolutions, Inc.)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.9, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 3 contracts

Samples: Loan Agreement (Rural Cellular Corp), Security Agreement (Rural Cellular Corp), Assignment and Assumption Agreement (Rural Cellular Corp)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or Agreement, the Notes or any other Loan Document shall be made not later than 1:00 p.m. 2:00 P.M. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America U.S. Dollars in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. 2:00 P.M. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. 2:00 P.M. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, promptly thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.10, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate. Subject to any contrary provisions in the definition of Interest Period, if any payment under this Agreement or any of the other Loan Documents is specified to be made on a day which is not a Business Day, it shall be made on the next Business Day, and such extension of time shall in such case be included in computing interest and fees, if any, in connection with such payment.

Appears in 2 contracts

Samples: Amendment and Restatement Agreement (Whole Earth Brands, Inc.), Loan Agreement (Whole Earth Brands, Inc.)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the any Borrower on account of the (except with respect to principal of or and interest on the Loans and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes on, Advances denominated in an Alternative Currency) shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Each payment (including, without limitation, any prepayment) by any Borrower with respect to principal of and interest on, Advances denominated in an Alternative Currency shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in such Alternative Currency in same day funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the relevant Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 2 contracts

Samples: Assignment and Assumption (American Tower Corp /Ma/), Assignment and Assumption (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower Borrowers on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower Borrowers as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.9, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 2 contracts

Samples: Loan Agreement (American Tower Corp /Ma/), Loan Agreement (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New YorkAtlanta, New York Georgia time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New YorkAtlanta, New York Georgia time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New YorkAtlanta, New York Georgia time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.9, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 2 contracts

Samples: Loan Agreement (Gray Communications Systems Inc /Ga/), Loan Agreement (Gray Communications Systems Inc /Ga/)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower Duratek on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or Lenders, the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 2:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s OfficeAccount, for the account of the Lenders Lenders, or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available fundsfunds without set-off or counterclaim. Any payment received by the Administrative Agent after 1:00 2:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender hereunder at or Lenders hereunder prior to 1:00 2:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptlypromptly thereafter (and, but no later than the close of business if such amount is received before 2:00 p.m. (New York time), on the date such payment is deemed received, thereafter same day) distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower Duratek as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In Only upon its acceptance of an Assignment and Acceptance and recording of the event that information contained therein in the Register pursuant to Section 11.5(c), from and after the effective date of such Assignment and Acceptance, the Administrative Agent shall fail make all payments hereunder and under the Notes in respect of the interest assigned thereby to the Lender assignee thereunder, and the parties to such Assignment and Acceptance shall make distribution all appropriate adjustments in such payments for periods prior to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the effective date such payment was due until paid at the Federal Funds Ratedirectly between themselves.

Appears in 2 contracts

Samples: Credit Agreement (EnergySolutions, Inc.), Credit Agreement (EnergySolutions, Inc.)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or Agreement, the Notes or any other Loan Document shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, promptly thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.10, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Loan Agreement (Tritel Finance Inc)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or Lender Parties, the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 2:00 p.m. (New YorkCharlotte, New York North Carolina time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office's Account, for the account of the Lenders Lender Parties, or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available fundsfunds without set-off or counterclaim. Any payment received by the Administrative Agent after 1:00 2:00 p.m. (New YorkCharlotte, New York North Carolina time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender hereunder at or Lenders hereunder prior to 1:00 2:00 p.m. (New YorkCharlotte, New York North Carolina time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a LenderLender Party, the Administrative Agent will promptlypromptly thereafter (and, but no later than the close of business if such amount is received before 2:00 p.m. (Charlotte, North Carolina time), on the date such payment is deemed received, thereafter same day) distribute the amount so received in like funds to such LenderLender Party. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders Lender Parties accordingly. In Upon its acceptance of an Assignment and Acceptance and recording of the event that information contained therein in the Register pursuant to Section 11.5(c), from and after the effective date of such Assignment and Acceptance, the Administrative Agent shall fail make all payments hereunder and under the Notes in respect of the interest assigned thereby to the Lender Party assignee thereunder, and the parties to such Assignment and Acceptance shall make distribution all appropriate adjustments in such payments for periods prior to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the effective date such payment was due until paid at the Federal Funds Ratedirectly between themselves.

Appears in 1 contract

Samples: Credit Agreement (Western Wireless Corp)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower Borrowers on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or Lender Parties, the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 2:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office's Account, for the account of the Lenders Lender Parties, or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available fundsfunds without set-off or counterclaim. Any payment received by the Administrative Agent after 1:00 2:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender hereunder at or Lenders hereunder prior to 1:00 2:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a LenderLender Party, the Administrative Agent will promptlypromptly thereafter (and, but no later than the close of business if such amount is received before 2:00 p.m. (New York time), on the date such payment is deemed received, thereafter same day) distribute the amount so received in like funds to such LenderLender Party. If the Administrative Agent shall not have received any payment from the Borrower Borrowers as and when due, the Administrative Agent will promptly notify the applicable Lenders Lender Parties accordingly. In Upon its acceptance of an Assignment and Acceptance and recording of the event that information contained therein in the Register pursuant to Section 11.5(c), from and after the effective date of such Assignment and Acceptance, the Administrative Agent shall fail make all payments hereunder and under the Notes in respect of the interest assigned thereby to the Lender Party assignee thereunder, and the parties to such Assignment and Acceptance shall make distribution all appropriate adjustments in such payments for periods prior to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the effective date such payment was due until paid at the Federal Funds Ratedirectly between themselves.

Appears in 1 contract

Samples: Credit Agreement (Gci Inc)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or Agreement, the Notes or any other Loan Document shall be made not later than 1:00 2:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 2:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 2:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, promptly thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.10, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Effective Rate.

Appears in 1 contract

Samples: Credit Agreement (CBD Media LLC)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the any Borrower on account of the (except with respect to principal of or and interest on the Loans and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes on, Advances denominated in an Alternative Currency) shall be made not later than 1:00 p.m. (New York, New York time) City time on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Each payment (including, without limitation, any prepayment) by any Borrower with respect to principal of and interest on, Advances denominated in an Alternative Currency shall be made not later than 1:00 p.m. New York City time on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in such Alternative Currency in same day funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) City time shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders Xxxxxxx hereunder prior to 1:00 p.m. (New York, New York time) City time on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the relevant Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Agreement (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, promptly thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.9, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Loan Agreement (Metrocall Inc)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower on account of the principal of or interest on the Loans and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 2:00 p.m. (New YorkLos Angeles, New York California time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 2:00 p.m. (New YorkLos Angeles, New York California time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 2:00 p.m. (New YorkLos Angeles, New York California time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.9, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Loan Agreement (Advanced Communications Group Inc/De/)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.9, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Loan Agreement (Benedek Communications Corp)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the (except with respect to principal of or and interest on the Loans and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes on, Advances denominated in an Alternative Currency) shall be made not later than 1:00 p.m. (New York, New York time) City time on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Each payment (including, without limitation, any prepayment) by the Borrower with respect to principal of and interest on, Advances denominated in an Alternative Currency shall be made not later than 1:00 p.m. New York City time on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in such Alternative Currency in same day funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) City time shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders Xxxxxxx hereunder prior to 1:00 p.m. (New York, New York time) City time on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Revolving Credit Agreement (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the any Borrower on account of the (except with respect to principal of or and interest on the Loans and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes on, Advances denominated in an Alternative Currency) shall be made not later than 1:00 p.m. (New York, New York time) City time on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Each payment (including, without limitation, any prepayment) by any Borrower with respect to principal of and interest on, Advances denominated in an Alternative Currency shall be made not later than 1:00 p.m. New York City time on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in such Alternative Currency in same day funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) City time shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) City time on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the relevant Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Assignment and Assumption (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower EnergySolutions on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or Lender Parties, the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 2:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s OfficeAccount, for the account of the Lenders Lender Parties, or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available fundsfunds without set-off or counterclaim. Any payment received by the Administrative Agent after 1:00 2:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender hereunder at or Lenders hereunder prior to 1:00 2:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a LenderLender Party, the Administrative Agent will promptlypromptly thereafter (and, but no later than the close of business if such amount is received before 2:00 p.m. (New York time), on the date such payment is deemed received, thereafter same day) distribute the amount so received in like funds to such LenderLender Party. If the Administrative Agent shall not have received any payment from the Borrower EnergySolutions as and when due, the Administrative Agent will promptly notify the applicable Lenders Lender Parties accordingly. In Only upon its acceptance of an Assignment and Assumption Agreement and recording of the event that information contained therein in the Register pursuant to Section 11.5(c), from and after the effective date of such Assignment and Assumption Agreement, the Administrative Agent shall fail make all payments hereunder and under the Notes in respect of the interest assigned thereby to the Lender Party assignee thereunder, and the parties to such Assignment and Assumption Agreement shall make distribution all appropriate adjustments in such payments for periods prior to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the effective date such payment was due until paid at the Federal Funds Ratedirectly between themselves.

Appears in 1 contract

Samples: Credit Agreement (EnergySolutions, Inc.)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, Commitment Fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New YorkCharlotte, New York North Carolina time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America Dollars in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New YorkCharlotte, New York North Carolina time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New YorkCharlotte, New York North Carolina time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Credit Agreement (Gray Television Inc)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower Borrowers on account of the principal of or interest on the Loans Facility B Loans, commitment fees and any other amount owed to the Lenders Banks or the Administrative Agent or any of them under this Agreement or the Facility B Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders Banks or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender Bank or Lenders Banks hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender Bank or Lenders Banks on such Business Day. In the case of a payment for the account of a LenderBank, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such LenderBank. If the Administrative Agent shall not have received any payment from the Borrower Borrowers as and when due, the Administrative Agent will promptly notify the applicable Lenders Banks accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender Bank as required under this Section 2.82.9, the Administrative Agent agrees to pay such Lender Bank interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Loan Agreement (American Tower Corp /Ma/)

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Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New YorkCharlotte, New York North Carolina time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America Xxxxxx Xxxxxx xx Xxxxxxx in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New YorkCharlotte, New York North Carolina time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New YorkCharlotte, New York North Carolina time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.9, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Loan Agreement (Gray Television Inc)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower Borrowers on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders Banks or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders Banks or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender Bank or Lenders Banks hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender Bank or Lenders Banks on such Business Day. In the case of a payment for the account of a LenderBank, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such LenderBank. If the Administrative Agent shall not have received any payment from the Borrower Borrowers as and when due, the Administrative Agent will promptly notify the applicable Lenders Banks accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender Bank as required under this Section 2.82.9, the Administrative Agent agrees to pay such Lender Bank interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Loan Agreement (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the principal of or interest on the Loans and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders Xxxxxxx hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Term Loan Agreement (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or Agreement, the Notes (if applicable) or any other Loan Document shall be made not later than 1:00 3:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 3:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 3:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, promptly thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.9, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Loan Agreement (BGF Industries Inc)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.6, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Parent Loan Agreement (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, Commitment Fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America Dollars in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Credit Agreement (Gray Television Inc)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the (except with respect to principal of or and interest on the Loans and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes on, Advances denominated in an Alternative Currency) shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Each payment (including, without limitation, any prepayment) by the Borrower with respect to principal of and interest on, Advances denominated in an Alternative Currency shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in such Alternative Currency in same day funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Credit Agreement (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the principal of or and interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or Lenders, the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Loan Agreement (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower Borrowers on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower Borrowers as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.9, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Loan Agreement (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees, and any other amount owed to the Lenders Banks or the Administrative Agent or any of them Agents under this Agreement or the Notes other Loan Documents shall be made not later than 1:00 p.m. (New YorkHouston, New York Texas time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders Banks and the Agents, or the Administrative Agentany of them, as the case may be, in lawful money of the United States of America in immediately available funds. If any payment is stated to be due hereunder on the last day of any calendar or fiscal quarter and such day is not a Business Day, the due date for such payment shall be, instead, the immediately preceding Business Day in such quarter. Any payment received by the Administrative Agent after 1:00 p.m. (New YorkHouston, New York Texas time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender Bank or Lenders any Agent hereunder prior to 1:00 p.m. (New YorkHouston, New York Texas time) on any Business Day shall be deemed to constitute receipt by such Lender Bank or Lenders such Agent (as appropriate) on such Business Day. In the case of a payment for the account of a LenderBank or an Agent, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, promptly thereafter distribute the amount so received in like funds to such LenderBank or such Agent, as the case may be. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders Banks accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Loan Agreement (Cencom Cable Entertainment Inc /New)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower Duratek on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or Lenders, the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 2:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s OfficeAccount, for the account of the Lenders Lenders, or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available fundsfunds without set-off or counterclaim. Any payment received by the Administrative Agent after 1:00 2:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender hereunder at or Lenders hereunder prior to 1:00 2:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptlypromptly thereafter (and, but no later than the close of business if such amount is received before 2:00 p.m. (New York time), on the date such payment is deemed received, thereafter same day) distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower Duratek as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In Only upon its acceptance of an Assignment and Assumption Agreement and recording of the event that information contained therein in the Register pursuant to Section 11.5(c), from and after the effective date of such Assignment and Assumption Agreement, the Administrative Agent shall fail make all payments hereunder and under the Notes in respect of the interest assigned thereby to the Lender assignee thereunder, and the parties to such Assignment and Assumption Agreement shall make distribution all appropriate adjustments in such payments for periods prior to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the effective date such payment was due until paid at the Federal Funds Ratedirectly between themselves.

Appears in 1 contract

Samples: Credit Agreement (EnergySolutions, Inc.)

Manner of Payment. (a) Each Except for payments with respect to any Swing Line Loan (which manner of payment is set forth in Section 2.16 hereof), each payment (including, without limitation, any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.82.9, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Loan Agreement (Rural Cellular Corp)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower Borrowers on account of the principal of or interest on the Loans Loans, commitment fees and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes shall be made not later than 1:00 p.m. (New York, New York time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower Borrowers as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Loan Agreement (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, any prepayment) by the Borrower on account of the (except with respect to principal of or and interest on the Loans and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes on, Advances denominated in an Alternative Currency) shall be made not later than 1:00 p.m. (New York, New York time) City time on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Each payment (including, without limitation, any prepayment) by the Borrower with respect to principal of and interest on, Advances denominated in an Alternative Currency shall be made not later than 1:00 p.m. New York City time on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s Office, for the account of the Lenders or the Administrative Agent, as the case may be, in such Alternative Currency in same day funds. Any payment received by the Administrative Agent after 1:00 p.m. (New York, New York time) City time shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders hereunder prior to 1:00 p.m. (New York, New York time) City time on any Business Day shall be deemed to constitute receipt by such Lender or Lenders on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to any Lender as required under this Section 2.8, the Administrative Agent agrees to pay such Lender interest from the date such payment was due until paid at the Federal Funds Rate.

Appears in 1 contract

Samples: Assignment and Assumption (American Tower Corp /Ma/)

Manner of Payment. (a) Each payment (including, without limitation, including any prepayment) by the Borrower on account of the principal of or interest on the Loans Loans, commitment fees, and any other amount owed to the Lenders or the Administrative Agent or any of them under this Agreement or the Notes other Loan Documents shall be made not later than 1:00 p.m. 11:00 a.m. (New YorkDallas, New York Texas time) on the date specified for payment under this Agreement to the Administrative Agent at the Administrative Agent’s 's Office, for the account of the Lenders or and the Administrative Agent, or any of them, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Administrative Agent after 1:00 p.m. 11:00 a.m. (New YorkDallas, New York Texas time) shall be deemed received on the next Business Day. Receipt by the Administrative Agent of any payment intended for any Lender or Lenders the Administrative Agent hereunder prior to 1:00 p.m. 11:00 a.m. (New YorkDallas, New York Texas time) on any Business Day shall be deemed to constitute receipt by such Lender or Lenders the Administrative Agent (as appropriate) on such Business Day. In the case of a payment for the account of a Lender, the Administrative Agent will promptly, but no later than the close of business on the date such payment is deemed received, promptly thereafter distribute the amount so received in like funds to such Lender. If the Administrative Agent shall not have received any payment from the Borrower as and when due, the Administrative Agent will promptly notify the applicable Lenders accordingly. In the event that the Administrative Agent shall fail to make distribution to If any Lender as required payment under this Section 2.8Agreement or any of the Notes shall be specified to be made on a day which is not a Business Day, the Administrative Agent agrees to pay such Lender interest from the date such payment was shall be made on the next succeeding day which is a Business Day, and such extension of time shall in such case be included in computing interest and fees, if any, due until paid at the Federal Funds Rateand payable on such next succeeding Business Day.

Appears in 1 contract

Samples: Loan Agreement (Lenfest Communications Inc)

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