Payments Generally; Pro Rata Treatment. Sharing of Set-offs 40 Section 2.18. Mitigation Obligations; Replacement of Lenders 42 Section 2.19. Additional Borrowers 43 ARTICLE 3
Payments Generally; Pro Rata Treatment. (a) The Borrower shall make each payment or prepayment required to be made by it hereunder (whether of principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section 2.14 or 2.15, or otherwise) prior to 1:00 p.m., New York City time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the reasonable discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at its offices at 000 Xxxxxxxxx Xxxxxx, Xxx Xxxx, XX 00000, pursuant to wire instructions to be provided by the Administrative Agent, except payments to be made directly to an Issuing Lender as expressly provided herein and except that payments pursuant to Sections 2.14, 2.15 and 10.04 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in U.S. Dollars.
Payments Generally; Pro Rata Treatment. Sharing of Set-offs.
Payments Generally; Pro Rata Treatment. Sharing of Set-offs. 52 Section 2.18. Mitigation Obligations; Replacement of Lenders. 54 Section 2.19. Increase in the Aggregate Commitments. 55 Section 2.20. Extension of Maturity Date. 57 Section 2.21. Cash Collateral. 59 Section 2.22. Defaulting Lenders. 61 Section 2.23. Designated Borrowers. 63 Article III Representations and Warranties 65 Section 3.01. Organization; Powers. 65 Section 3.02. Authorization; Enforceability. 65 Section 3.03. Governmental Approvals; No Conflicts. 65 Section 3.04. Financial Condition; No Material Adverse Change. 65 Section 3.05. [Reserved]. 66 Section 3.06. Litigation and Environmental Matters. 66 Section 3.07. Compliance with Laws; Sanctions; Anti-Corruption. 66 Section 3.08. Investment Company Status. 67 Section 3.09. Taxes. 67 Section 3.10. ERISA. 67 Section 3.11. Disclosure. 67 Section 3.12. Federal Regulations. 68 Section 3.13. Purpose of Loans. 68 Section 3.14. EEA Financial Institutions. 68 Article IV Conditions 68 Section 4.01. Closing Conditions. 68 Section 4.02. Each Credit Event. 70 Article V Affirmative Covenants 70 Section 5.01. Financial Statements and Other Information. 71 Section 5.02. Notices of Material Events. 72 Section 5.03. Existence; Conduct of Business. 73 Section 5.04. Payment of Taxes. 73 Section 5.05. Maintenance of Properties; Insurance. 73 Section 5.06. Books and Records; Inspection Rights. 73 Section 5.07. Compliance with Laws. 74 Section 5.08. Use of Proceeds. 74 Section 5.09. Maintenance of Accreditation, Etc. 74 Article VI Negative Covenants 74 Section 6.01. Indebtedness. 74 Section 6.02. Liens. 75 Section 6.03. Fundamental Changes. 77 Section 6.04. Business Activity. 78 Section 6.05. Sanctions. 78 Section 6.06. Anti-Corruption Laws; Anti-Money Laundering Laws. 78 Article VII Events of Default 78 Section 7.01. Events of Default. 78 Article VIII The Administrative Agent 81 Section 8.01. Appointment and Authority. 81 Section 8.02. Rights as a Lender. 81 Section 8.03. Exculpatory Provisions. 82 Section 8.04. Reliance by Administrative Agent. 83 Section 8.05. Delegation of Duties. 83 Section 8.06. Resignation of Administrative Agent. 83 Section 8.07. Non-Reliance on Administrative Agent and Other Lenders. 85
Payments Generally; Pro Rata Treatment. Each Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, or fees, or of amounts payable under Sections 2.12, 2.15 or 2.16, or otherwise) prior to 12:00 noon, New York City time, on the date when due, in immediately available funds, without set off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent c/o Merrill Xxxxx Mortgage Capital Inc., 0 Xxxxx Xxxxxxxxx Xxxxxx, Xxx Xxxx, XX 00000, Attention of Xxxx Xxxxx (Telecopier No.: 212-449-6673), (Continental Airlines, Inc. clearing account number A/C 000-00-000, ABA number 021-001-033), with written notice to Xxxxxxx Xxxxx Mortgage Capital Inc., 0 Xxxxx Xxxxxxxxx Xxxxxx, Xxx Xxxx, XX 00000, Attention of Xxxx Xxxxx (Telecopier No.: 212-449-6673). The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and such extension of time shall be included in computing interest, if any, in connection with such payment. All payments hereunder shall be made in Dollars. If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, interest, fees and other amounts then due by the Credit Parties hereunder or under any Operative Document, such funds shall be applied, first, towards payment in full of all amounts due and payable by the Credit Parties to the Administrative Agent pursuant to the Operative Documents (including, without limitation, Section 9.05), and second, towards payment of interest, fees and other amounts then due by the Credit Parties hereunder or under any Operative Document, ratably among the parties entitled thereto in accordance with the amounts of interest, fees and other amounts then due by the Credit Parties to such parties. Except to the extent otherwise provided herein: (i) each payment or prepayment of principal of Tranche A-1 Term Loans and Tranche A-2 Term Loans shall be made for account of the relevant Lenders pro rata in accordance with the respective unpaid principal amounts of the...
Payments Generally; Pro Rata Treatment. (a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest or fees, or of amounts payable under Section 2.13, 2.14 or 2.15, or otherwise) prior to 12:00 (noon), New York City time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at such account in New York, New York as the Administrative Agent shall from time to time specify by notice, except that payments pursuant to Sections 2.10(b), 2.10(c), 2.13, 2.14, 2.15 and 9.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment under this Agreement shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments under this Agreement shall be made in Dollars.
Payments Generally; Pro Rata Treatment. (a) The Company shall make or cause to be made each payment required to be made by it hereunder (whether principal of or interest on the Term Loan, fees, amounts under Article VIII or otherwise) or under any other Credit Document (except to the extent otherwise provided therein) not later than 2:00 p.m., New York City time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Domestic Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at its Payment Account, except as otherwise expressly provided in the relevant Credit Document, and except that payments pursuant to Section 10.03 and Article VIII shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Domestic Business Day or Euro-Dollar Business Day (as applicable), the date for payment shall be extended to the next succeeding Domestic or Euro-Dollar Business Day (as applicable) and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder or under any other Credit Document shall be made in Dollars.
Payments Generally; Pro Rata Treatment. (a) The Borrower shall make each payment or prepayment required to be made by it hereunder (whether of principal, interest or fees, or of amounts payable under Sections 2.13, 2.14 or 2.15, or otherwise) prior to 12:00 noon, New York City time, on the date when due, in immediately available funds, without set off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the account of the Agent most recently designated by it for such purpose by notice to the Borrower, except that payments pursuant to Sections 2.13, 2.14 or 2.15 and 10.05 shall be made directly to the Persons entitled thereto. The Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in Dollars.
Payments Generally; Pro Rata Treatment. Sharing of Set-offs 49 Section 2.21. Letters of Credit 50 Section 2.22. Increase of Commitments; Additional Lenders 54 Section 2.23. Mitigation of Obligations 56 Section 2.24. Replacement of Lenders 56 Section 2.25. Defaulting Lenders 57 ARTICLE III CONDITIONS PRECEDENT TO LOANS AND LETTERS OF CREDIT 60
Payments Generally; Pro Rata Treatment. Sharing of Set-offs 39 Section 4.02 Presumption of Payment by the Borrower 40 Section 4.03 Certain Deductions by the Administrative Agent 40 Section 4.04 Disposition of Proceeds 40 ARTICLE V INCREASED COSTS; BREAK FUNDING PAYMENTS; TAXES; ILLEGALITY Section 5.01 Increased Costs 41 Section 5.02 Break Funding Payments 42 Section 5.03 Taxes 42 Section 5.04 Mitigation Obligations; Replacement of Lenders 44 Section 5.05 Illegality 44 Page ARTICLE VI
