Common use of Payments Generally; Pro Rata Treatment Clause in Contracts

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.

Appears in 3 contracts

Samples: Term Loan and Guaranty Agreement (Tower International, Inc.), Term Loan and Guaranty Agreement (Tower International, Inc.), Term Loan and Guaranty Agreement (Tower International, Inc.)

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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 interest, fees, or of amounts payable under Sections 2.13, 2.14 ‎Section 2.11 or 2.15‎Section 2.12, or otherwise) prior to 12:00 noon1:00 p.m., New York City time, on the date when due, in immediately available funds, without set set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Agent, shall 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 Administrative Agent pursuant to wire instructions to be provided by the Agent most recently designated by it for such purpose by notice to the BorrowerAdministrative Agent, except that payments pursuant to Sections 2.13, 2.14 or 2.15 2.11 and 10.05 ‎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, 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.

Appears in 2 contracts

Samples: Credit Agreement (Wheels Up Experience Inc.), Credit Agreement (Wheels Up Experience Inc.)

Payments Generally; Pro Rata Treatment. (a) The Borrower Each of the Borrowers 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 Section 2.11, 2.12 or 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 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 account of the Administrative Agent most recently designated by it for such purpose by notice to the Borrowerat its offices at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, except that payments pursuant to Sections 2.132.11, 2.14 or 2.15 2.12, 2.13 and 10.05 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 Dollarsdollars.

Appears in 1 contract

Samples: Credit Agreement (Caribiner International Inc)

Payments Generally; Pro Rata Treatment. (a) The Borrower Borrowers shall make each payment or prepayment required to be made by it hereunder (whether of principal, interest or interest, fees, or of amounts payable under Sections 2.13, 2.14 ‎Section 2.11 or 2.15‎2.12, or otherwise) prior to 12:00 noon1:00 p.m., New York City time, on the date when due, in immediately available funds, without set 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 account of Administrative Agent pursuant to wire instructions to be provided by the Agent most recently designated by it for such purpose by notice to the BorrowerAdministrative Agent, except that payments pursuant to Sections 2.13‎2.11, 2.14 or 2.15 ‎2.12 and 10.05 ‎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, 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.

Appears in 1 contract

Samples: Credit Agreement (Latam Airlines Group S.A.)

Payments Generally; Pro Rata Treatment. (a) The Borrower Borrowers shall make each payment or prepayment required to be made by it either of them hereunder (whether of principal, interest or fees, or of amounts payable under Sections Section 2.11, 2.12 or 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 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 account of the Administrative Agent most recently designated by it for such purpose by notice to the Borrowerat its offices at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, except that payments pursuant to Sections 2.132.11, 2.14 or 2.15 2.12, 2.13 and 10.05 9.05 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 Dollarsdollars.

Appears in 1 contract

Samples: Credit Agreement (Audio Visual Services Corp)

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Payments Generally; Pro Rata Treatment. (a) The Borrower Borrowers shall make each payment or prepayment required to be made by it hereunder (whether of principal, interest or interest, fees, or of amounts payable under Sections 2.13, 2.14 Section 2.11 or 2.152.12, or otherwise) prior to 12:00 noon1:00 p.m., New York City time, on the date when due, in immediately available funds, without set 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 account of Administrative Agent pursuant to wire instructions to be provided by the Agent most recently designated by it for such purpose by notice to the BorrowerAdministrative Agent, except that payments pursuant to Sections 2.132.11, 2.14 or 2.15 2.12 and 10.05 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, 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.

Appears in 1 contract

Samples: Credit Agreement (Latam Airlines Group S.A.)

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 interest, fees, or of amounts payable under Sections 2.13, 2.14 2.17,2.17 or 2.1511.04, or otherwise) prior to 12:00 noon1:00 p.m., New York City time, on the date when due, in immediately available funds, without set off setoff 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 account of Administrative Agent pursuant to wire instructions to be provided by the Agent most recently designated by it for such purpose by notice to the BorrowerAdministrative Agent, except that payments pursuant to Sections 2.13, 2.14 or 2.15 2.172.17 and 10.05 11.0411.04 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 Dollars.

Appears in 1 contract

Samples: Agreement

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