Common use of Place and Manner of Payments Clause in Contracts

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender the principal, interest, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply the payment in such manner as the Lender may determine to be appropriate in respect of obligations owing by the Borrower hereunder). Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)), except that in the case of LIBOR Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 8 contracts

Samples: Credit Agreement (Hoku Corp), Credit Agreement (Hoku Corp), Credit Agreement (Hoku Corp)

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Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender the principal, interestLoans, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply the payment in such manner as the Lender may determine to be appropriate in respect of obligations owing by the Borrower hereunderhereunder subject to the terms of Section 2.3(a)). Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)), except that where the immediately succeeding Business Day falls in the case of LIBOR Loans, if the extension would cause the payment to be made in the next following immediately succeeding calendar month, then such payment the due date shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 three hundred and sixty (360) days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 4 contracts

Samples: Credit Agreement, Credit Agreement (Vipshop Holdings LTD), Credit Agreement (China Biologic Products, Inc.)

Place and Manner of Payments. Except as otherwise specifically provided hereinAll payments of principal, all payments hereunder interest, fees, expenses and other amounts to be made by a Borrower under this Credit Agreement shall be made to by such Borrower unconditionally and without deduction for any counterclaim, defense, recoupment or setoff and received not later than 2:00 p.m. on the Lender date when due, in Dollars and in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, to the Administrative Agent at its offices specified in Section 7.1 not later than 2:00 P.M. (New YorkYork City, New York time) on or to the date when dueSwing Lender at its applicable address or Issuing Lender at its applicable address. Payments received after such time shall be deemed to have been received on the immediately succeeding next Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The Borrower Borrowers shall, at the time it makes they make any payment under this Credit Agreement, specify to the Administrative Agent, Swing Lender or Issuing Lender, as applicable, the principalLoans, interestLetters of Credit, fees or other amounts payable by the Borrower Borrowers hereunder to which such payment is to be applied (and in the event that it fails so they fail to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply Administrative Agent shall, subject to Section 3.7, distribute such payment to the payment Lenders in such manner as the Lender Administrative Agent may determine deem appropriate). The Administrative Agent will distribute any such payment to be appropriate in respect of obligations owing by the Borrower hereunder)Lenders on the day received if such payment is received prior to 2:00 p.m.; otherwise the Administrative Agent will distribute such payment to the Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 4 contracts

Samples: Revolving Credit Agreement (Brandywine Operating Partnership, L.P.), Revolving Credit Agreement (Brandywine Operating Partnership Lp /Pa), Revolving Credit Agreement (Brandywine Operating Partnership Lp /Pa)

Place and Manner of Payments. Except as otherwise specifically provided hereinAll payments of principal, all payments hereunder interest, fees, expenses and other amounts to be made by the Borrower under this Credit Agreement shall be made to the Lender in Dollars in immediately available fundsunconditionally and without deduction for any counterclaim, without offsetdefense, deduction, counterclaim recoupment or withholding of any kind, at its offices specified in Section 7.1 setoff. All such payments shall be received not later than 2:00 P.M. (p.m. on the date when due in Dollars and in immediately available funds by the Administrative Agent at its offices in New York, New York time) York. The Administrative Agent will distribute such payments made to the Lenders on the date when due. Payments of receipt if such payment is received after prior to 2:00 p.m.; otherwise, the Administrative Agent will distribute such time shall payments to the Lenders, and such payment will be deemed credited to have been received the Borrower, on the immediately next succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Administrative Agent the principal, interestLoans, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Administrative Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender may determine to be appropriate it reasonably determines in respect of obligations owing by the Borrower hereunderits sole discretion). Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that that, in the case of LIBOR LoansEurodollar Loans (or interest payable with respect thereto), if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 3 contracts

Samples: Multi Year Credit Agreement (Alabama Power Co), Credit Agreement (Southern Power Co), Credit Agreement (Alabama Power Co)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender the principal, interest, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply the payment in such manner as the Lender may determine to be appropriate in respect of obligations owing by the Borrower hereunder). Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)), except that in the case of a LIBOR LoansLoan, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowingBorrowing Date, but exclude the date of payment.

Appears in 3 contracts

Samples: Credit Agreement (Hoku Corp), Credit Agreement (Hoku Corp), Credit Agreement (Hoku Corp)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices at the Agent’s office specified in Section 7.1 Schedule 11.2 not later than 2:00 1:00 P.M. (New YorkMilwaukee, New York Wisconsin time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender may (but shall not be obligated to) Agent may, at the Borrower’s request, debit the amount of any such payment which is not made by such time to any ordinary deposit account of Account No. 112045887 maintained by the Borrower maintained with the Lender (Agent or any other account which may be maintained by the Borrower with notice to the Agent and designated for such purpose by the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interest, fees Fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 3.11). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 1:00 p.m. (Milwaukee, Wisconsin time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended))Day, except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all All computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days except computations of interest on Prime Rate Loans, which shall be made on the basis of actual number of days elapsed over a year of 365 or 366 days, as applicable. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 2 contracts

Samples: Credit Agreement (Journal Communications Inc), Credit Agreement (Journal Communications Inc)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices at the Agent's office specified in Section 7.1 Schedule 11.2 not later than 2:00 1:00 P.M. (New YorkMilwaukee, New York Wisconsin time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender may (but shall not be obligated to) Agent may, at the Borrower's request, debit the amount of any such payment which is not made by such time to any ordinary deposit account of Account No. _________ maintained by the Borrower maintained with the Lender (Agent or any other account which may be maintained by the Borrower with notice to the Agent and designated for such purpose by the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interest, fees Fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 3.11). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 1:00 p.m. (Milwaukee, Wisconsin time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees Fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 2 contracts

Samples: Credit Agreement (C2 Inc), Credit Agreement (C2 Inc)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender the principal, interest, fees Facility Fee or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply the payment in such manner as the Lender may determine to be appropriate in respect of obligations owing by the Borrower hereunder). Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)), except that in the case of LIBOR Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 2 contracts

Samples: Credit Agreement (Hoku Corp), Credit Agreement (Hoku Corp)

Place and Manner of Payments. All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise specifically expressly provided hereinherein and except with respect to principal of and interest on Loans denominated in an Alternative Currency, all payments by the Borrower hereunder shall be made to the Lender in Dollars in immediately available fundsAdministrative Agent, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on for the date when due. Payments received after such time shall be deemed to have been received on the immediately succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender the principal, interest, fees or other amounts payable by the Borrower hereunder respective Lenders to which such payment is to be applied (owed, at the applicable Agency Services Address in Dollars and in Same Day Funds not later than 2:00 p.m. on the event that it fails so to specifydate specified herein. Except as otherwise expressly provided herein, or if such application would be inconsistent with the terms hereof, the Lender shall apply the payment in such manner as the Lender may determine to be appropriate in respect of obligations owing all payments by the Borrower hereunder)hereunder with respect to principal and interest on Loans denominated in an Alternative Currency shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the applicable Agency Services Address in such Alternative Currency and in Same Day Funds not later than the Applicable Time specified by the Administrative Agent on the dates specified herein. Whenever Without limiting the generality of the foregoing, the Administrative Agent may require that any payments due under this Agreement be made in the United States. If, for any reason, any Borrower is prohibited by any Law from making any required payment hereunder in an Alternative Currency, such Borrower shall make such payment in Dollars in the Dollar Equivalent of the Alternative Currency payment amount. The Administrative Agent will promptly distribute to each Lender its pro rata share of such payment (based upon the applicable Commitments of the Lenders) in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent (i) after 2:00 p.m., in the case of payments in Dollars, or (ii) after the Applicable Time specified by the Administrative Agent in the case of payments in an Alternative Currency, shall in each case be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment hereunder shall be stated to be made by any Borrower shall come due on a day which is not other than a Business Day, the due date thereof shall be extended to the immediately succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)), except that in the case of LIBOR Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis next following Business Day, and such extension of actual number of days elapsed over a year of 360 days. Interest time shall accrue from and include be reflected in computing interest or fees, as the date of borrowing, but exclude the date of paymentcase may be.

Appears in 2 contracts

Samples: Credit Agreement (Quest Diagnostics Inc), Credit Agreement (Quest Diagnostics Inc)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices at the Agent's office specified in Section 7.1 Schedule 11.2 not later than 2:00 1:00 P.M. (New YorkMilwaukee, New York Wisconsin time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender may (but shall not be obligated to) Agent may, at the Borrower's request, debit the amount of any such payment which is not made by such time to any ordinary deposit account of Account No. 112045887 maintained by the Borrower maintained with the Lender (Agent or any other account which may be maintained by the Borrower with notice to the Agent and designated for such purpose by the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interest, fees Fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 3.11). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 1:00 p.m. (Milwaukee, Wisconsin time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended))Day, except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all All computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days except computations of interest on Prime Rate Loans, which shall be made on the basis of actual number of days elapsed over a year of 365 or 366 days, as applicable. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 2 contracts

Samples: Credit Agreement (Journal Communications Inc), Credit Agreement (Journal Communications Inc)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices at the Agent's office specified in Section 7.1 Schedule 11.2 not later than 2:00 P.M. (New YorkCharlotte, New York North Carolina time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender Agent may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender Agent (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interest, fees Fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 3.11). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 2:00 p.m. (Charlotte, North Carolina time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees Fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days, except with respect to computation of interest on Base Rate Loans which shall be calculated based on a year of 365 or 366 days, as appropriate. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 2 contracts

Samples: Credit Agreement (Manitowoc Co Inc), Credit Agreement (Manitowoc Co Inc)

Place and Manner of Payments. Except as otherwise specifically provided hereinAll payments of principal, all payments hereunder interest, fees, expenses and other amounts to be made by the Borrowers under this Agreement (including, but not limited to, the Revolving Loans) shall be made to received not later than 2:00 p.m. (EST), on the Lender date when due in U.S. Dollars and in immediately available fundsfunds or by direct charge against the Revolving Loan Commitment, if available, pursuant to Section 3.1(b) hereof, in each case, without offsetsetoff, deduction, counterclaim or withholding of any kind, by the Administrative Agent at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) located at the address set forth on the date when dueSchedule 1.1A hereto. Payments received after such time shall be deemed to have been received on the immediately succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The A Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Administrative Agent, the principalLoans, interestLetters of Credit, fees or other amounts payable by the Borrower Borrowers hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Administrative Agent shall apply distribute such payment to the Lenders in the manner described in Section 4.6). The Administrative Agent will distribute such payments to the applicable Lenders on the date of receipt if any such payment in is received prior to 2:00 p.m. (EST time); otherwise the Administrative Agent will distribute such manner as payment to the Lender applicable Lenders on the next succeeding Business Day. The Borrowers' obligations to the Lenders with respect to such payments shall be discharged by making such payments to the applicable agent pursuant to this Section 4.3 or if not timely paid or an Event of Default then exists, may determine be added to be appropriate in respect the principal amount of obligations owing by the Borrower hereunder)Revolving Loans outstanding. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 2 contracts

Samples: Pledge Agreement (Wolverine Tube Inc), Credit Agreement (Wolverine Tube Inc)

Place and Manner of Payments. Except as otherwise specifically provided hereinAll payments of principal, all payments hereunder interest, fees, expenses and other amounts to be made by the Borrower under this Credit Agreement shall be made to unconditionally and without deduction for any counterclaim, defense, recoupment or setoff. All such payments shall be received not later than 11:00 a.m. on the Lender date when due, in Dollars and in immediately available funds, without offsetby the Administrative Agent at the Agency Services Address (or such other address as directed by the Administrative Agent) or, deductionif applicable, counterclaim by the Issuing Lender or withholding of any kind, the Swing Line Lender at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on the date when duetheir applicable addresses. Payments received after such time shall be deemed to have been received on the immediately succeeding next Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Administrative Agent, Issuing Lender or Swing Line Lender, as applicable, the principalLoans, interestLetters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply Administrative Agent shall, subject to Section 3.7, distribute such payment to the payment Lenders in such manner as the Lender Administrative Agent may determine deem appropriate). The Administrative Agent will distribute any such payment to the Lenders on the day received if such payment is received prior to 11:00 a.m.; otherwise the Administrative Agent will distribute such payment to the Lenders, and such payment will be appropriate in respect of obligations owing credited to the Borrower, on the immediately succeeding Business Day. If such payment is received by the Borrower hereunder)Administrative Agent and the Administrative Agent fails to distribute such payment to the Lenders on the appropriate day set forth above, the Administrative Agent will distribute such payment to the Lenders on the immediately succeeding Business Day together with interest at the Federal Funds Rate. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately succeeding Business Day (subject to provided that accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)), except that in the case of LIBOR Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall only be made on through the basis end of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of paymentcalendar month).

Appears in 1 contract

Samples: Revolving Credit Agreement (Pan Pacific Retail Properties Inc)

Place and Manner of Payments. All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise specifically expressly provided hereinherein and except with respect to principal of and interest on Loans and drawings under Letters of Credit denominated in an Alternative Currency, all payments by the Borrower hereunder shall be made to the Lender in Dollars in immediately available fundsAdministrative Agent, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on for the date when due. Payments received after such time shall be deemed to have been received on the immediately succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with respective Lenders or the Lender (with notice to the Borrower). The Borrower shallrelevant Issuing Lender, at the time it makes any payment under this Credit Agreementas applicable, specify to the Lender the principal, interest, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (owed, at the applicable Agency Services Address in Dollars and in Same Day Funds not later than 2:00 p.m. on the event that it fails so date specified herein. Except as otherwise expressly provided herein, all payments by the Borrower hereunder with respect to specify, principal and interest on Loans or if such application would be inconsistent with the terms hereof, the Lender shall apply the payment in such manner as the Lender may determine to be appropriate in respect of obligations owing drawings under Letters of Credit denominated in an Alternative Currency shall be made to the Administrative Agent for the account of the respective Lenders (or for the account of the relevant Issuing Lender, as applicable) to which such payment is owed, at the applicable Agency Services Address in such Alternative Currency and in Same Day Funds not later than the Applicable Time specified by the Administrative Agent to the Borrower in writing on the dates specified herein. Without limiting the generality of the foregoing, the Administrative Agent may require that any payments due under this Credit Agreement be made in the United States. If, for any reason, the Borrower is prohibited by any Law from making any required payment hereunder in an Alternative Currency, the Borrower shall make such payment in Dollars in the Dollar Equivalent of the Alternative Currency payment amount. The Administrative Agent will promptly distribute to each Lender its pro rata share of such payment (based upon the applicable Commitments of the Lenders) in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent (i) after 2:00 p.m. New York City time, in the case of payments in Dollars, or (ii) after the Applicable Time specified by the Administrative Agent in writing to the Borrower in the case of payments in an Alternative Currency, shall in each case be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment to be made by the Borrower hereunder). Whenever any payment hereunder shall be stated to be come due on a day which is not other than a Business Day, the due date thereof shall be extended to the immediately succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)), except that in the case of LIBOR Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis next following Business Day, and such extension of actual number of days elapsed over a year of 360 days. Interest time shall accrue from and include be reflected in computing interest or fees, as the date of borrowing, but exclude the date of paymentcase may be.

Appears in 1 contract

Samples: Credit Agreement (Quest Diagnostics Inc)

Place and Manner of Payments. All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise specifically expressly provided hereinherein and except with respect to principal of and interest on Loans and drawings under Letters of Credit denominated in an Alternative Currency, all payments by the Borrower hereunder shall be made to the Lender in Dollars in immediately available fundsAdministrative Agent, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on for the date when due. Payments received after such time shall be deemed to have been received on the immediately succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with respective Lenders or the Lender (with notice to the Borrower). The Borrower shallrelevant Issuing Lender, at the time it makes any payment under this Credit Agreementas applicable, specify to the Lender the principal, interest, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (owed, at the applicable Agency Services Address in Dollars and in Same Day Funds not later than 2:00 p.m. on the event that it fails so date specified herein. Except as otherwise expressly provided herein, all payments by the Borrower hereunder with respect to specify, principal and interest on Loans or if such application would be inconsistent with the terms hereof, the Lender shall apply the payment in such manner as the Lender may determine to be appropriate in respect of obligations owing by the Borrower hereunder). Whenever any payment hereunder drawings under Letters of Credit denominated in an Alternative Currency shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended made to the immediately succeeding Business Day (subject to accrual of interest at non-default rates and fees Administrative Agent for the period account of such extension the respective Lenders (but not any default interest on amounts or for the account of the relevant Issuing Lender, as applicable) to which such payment is owed, at the applicable Agency Services Address in such Alternative Currency and in Same Day Funds not later than the Applicable Time specified by the Administrative Agent to the Borrower in writing on the dates specified herein. Without limiting the generality of the foregoing, the Administrative Agent may require that any payments due date under this Credit Agreement be made in the United States. If, for any reason, the Borrower is prohibited by any Law from making any required payment hereunder in an Alternative Currency, the Borrower shall have been extended))make such payment in Dollars in the Dollar Equivalent of the Alternative Currency payment amount. The Administrative Agent will promptly distribute to each Lender its pro rata share of such payment (based upon the applicable Commitments of the Lenders) in like funds as received by wire transfer to such Xxxxxx’s Lending Office. All payments received by the Administrative Agent (i) after 2:00 p.m. New York City time, except that in the case of LIBOR Loanspayments in Dollars, if or (ii) after the extension would cause Applicable Time specified by the payment Administrative Agent in writing to be made the Borrower in the next following calendar monthcase of payments in an Alternative Currency, then such payment shall instead in each case be made deemed received on the immediately preceding next succeeding Business Day. Except as expressly provided otherwise herein, all computations of Day and any applicable interest and fees or fee shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.continue to [[5731659]]

Appears in 1 contract

Samples: Credit Agreement (Quest Diagnostics Inc)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices the Agent’s office specified in Section 7.1 Schedule 11.2 not later than 2:00 1:00 P.M. (New YorkMilwaukee, New York Wisconsin time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender may (but shall not be obligated to) Agent may, at the Borrower’s request, debit the amount of any such payment which is not made by such time to any ordinary deposit account of which may be maintained by the Borrower maintained with the Lender (with notice to Agent and designated for such purpose by the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interest, fees Fees or other amounts payable by the Borrower hereunder to which such payment is to be applied applied, with the understanding that any such designation by the Borrower shall not be in contravention of the requirements of this Credit Agreement (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may reasonably determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 3.11). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 1:00 p.m. (Milwaukee, Wisconsin time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended))Day, except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all All computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days except computations of interest on Prime Rate Loans, which shall be made on the basis of actual number of days elapsed over a year of 365 or 366 days, as applicable. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Journal Media Group, Inc.)

Place and Manner of Payments. Except as otherwise specifically provided hereinAll payments of principal, all payments hereunder interest, fees, expenses and other amounts to be made by a Credit Party under this Credit Agreement shall be made to received not later than 2:00 p.m. on the Lender date when due, in Dollars and in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, by the Agent at its offices specified in Section 7.1 not later than 2:00 P.M. (New Yorkat XxxxxxxXxxx Xxxxx, New York time) on the date when dueXxxxxxxxx, Xxxxx Xxxxxxxx. Payments received after such time shall be deemed to have been received on the immediately succeeding next Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by Payments received after such time shall be deemed to any ordinary deposit account of have been received on the Borrower maintained with the Lender (with notice to the Borrower)next Business Day. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent, the principalTranche A Term Loans, interestthe Tranche B Term Loans, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply Agent shall, subject to Section 3.7, distribute such payment to the payment Supplemental Credit Lenders in such manner as the Lender Agent may determine deem appropriate). The Agent will distribute such payments to be appropriate in respect of obligations owing by the Borrower hereunder)applicable Supplemental Credit Lenders on the date received if any such payment is received prior to 2:00 p.m.; otherwise the Agent will distribute such payment to the applicable Supplemental Credit Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Chattem Inc)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices at the Agent's office specified in Section 7.1 Schedule 2.1(a) not later than 2:00 P.M. (New YorkCharlotte, New York North Carolina time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender Agent may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender Agent (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interestLOC Obligations, fees Fees, interest or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 3.12(a)). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 12:00 Noon (Charlotte, North Carolina time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees Fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days, except with respect to computation of interest on Base Rate Loans which (unless the Base Rate is determined by reference to the Federal Funds Rate) shall be calculated based on a year of 365 or 366 days, as appropriate. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Hunt Manufacturing Co)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender the principal, interest, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply the payment in such manner as the Lender may determine to be appropriate in respect of obligations owing by the Borrower hereunder). Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)), except that in the case of LIBOR LoansLoan, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Hoku Corp)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices Lender’s office specified in Section 7.1 9.2 not later than 2:00 1:00 P.M. (New YorkDetroit, New York Michigan time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender may (but shall not be obligated to) may, at Borrower’s request, debit the amount of any such payment which is not made by such time to any ordinary deposit account of the maintained by Borrower with Lender or any other account which may be maintained by Borrower with the Lender (with notice to the and designated for such purpose by Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender the principalLoans, interest, fees Fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply such payment to the payment Loans in such manner as the Lender may determine to be appropriate in respect of obligations owing by the Borrower hereunder). Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees Fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extendedextension)), except that in the case of LIBOR Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees Fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Exx Inc/Nv/)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices at the Agent's office specified in Section 7.1 Schedule 10.2 not later than 2:00 P.M. noon (New YorkMilwaukee, New York Wisconsin time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender may (but shall not be obligated to) Agent may, at the Borrower's request, debit the amount of any such payment which is not made by such time to any ordinary deposit account of Account No. 121727847 maintained by the Borrower maintained with the Lender (Agent or any other account which may be maintained by the Borrower with notice to the Agent and designated for such purpose by the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interest, fees Fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 3.11). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 5:00 p.m. (Milwaukee, Wisconsin time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees Fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, ; all computations of interest with respect to the Base Rate, the Eurodollar Rate, the Federal Fund Rate and fees Fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Midwest Express Holdings Inc)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices the Agent’s office specified in Section 7.1 Schedule 11.2 not later than 2:00 1:00 P.M. (New YorkMilwaukee, New York Wisconsin time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender may (but shall not be obligated to) Agent may, at the Borrower’s request, debit the amount of any such payment which is not made by such time to any ordinary deposit account of Account No. 112045887 maintained by the Borrower maintained with the Lender (Agent or any other account which may be maintained by the Borrower with notice to the Agent and designated for such purpose by the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interest, fees Fees or other amounts payable by the Borrower hereunder to which such payment is to be applied applied, with the understanding that any such designation by the Borrower shall not be in contravention of the requirements of this Credit Agreement (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 3.11). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 1:00 p.m. (Milwaukee, Wisconsin time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended))Day, except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all All computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days except computations of interest on Prime Rate Loans, which shall be made on the basis of actual number of days elapsed over a year of 365 or 366 days, as applicable. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Journal Communications Inc)

Place and Manner of Payments. Except as otherwise specifically provided herein(a) All payments of principal, all payments hereunder interest, fees, expenses and other amounts to be made by the Borrower under this Credit Agreement shall be made to unconditionally and without deduction for any counterclaim, defense, recoupment or setoff. All such payments shall be received not later than 11:00 a.m. on the Lender date when due, in Dollars and in immediately available funds, without offsetby the Administrative Agent at the Agency Services Address (or such other address as directed by the Administrative Agent) or, deductionif applicable, counterclaim by the Issuing Lender or withholding of any kind, the Swing Line Lender at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on the date when duetheir applicable addresses. Payments received after such time shall be deemed to have been received on the immediately succeeding next Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Administrative Agent, Issuing Lender or Swing Line Lender, as applicable, the principalLoans, interestLetters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply Administrative Agent shall, subject to Section 3.7, distribute such payment to the payment Lenders in such manner as the Lender Administrative Agent may determine deem appropriate). The Administrative Agent will distribute any such payment to the Lenders on the day received if such payment is received prior to 11:00 a.m.; otherwise the Administrative Agent will distribute such payment to the Lenders, and such payment will be appropriate in respect of obligations owing credited to the Borrower, on the immediately succeeding Business Day. If such payment is received by the Borrower hereunder)Administrative Agent and the Administrative Agent fails to distribute such payment to the Lenders on the appropriate day set forth above, the Administrative Agent will distribute such payment to the Lenders on the immediately succeeding Business Day together with interest at the Federal Funds Rate. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately succeeding Business Day (subject to provided that accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)), except that in the case of LIBOR Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall only be made on through the basis end of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of paymentcalendar month).

Appears in 1 contract

Samples: Revolving Credit Agreement (Pan Pacific Retail Properties Inc)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 Schedule 2.1(a) not later than 2:00 1:00 P.M. (New YorkSan Francisco, New York California time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender Agent may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender Agent (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principal, interestLoans, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 2.6(c)). The Agent will distribute such payments to the Lenders, if any such payment is received prior to 1:00 P.M. (San Francisco, California time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to the Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all All computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days; provided, however, that computations of interest at the Prime Rate shall be made on the basis of actual number of days elapsed over a 365/366 day year. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Sonoco Products Co)

Place and Manner of Payments. All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise specifically expressly provided hereinherein and except with respect to principal of and interest on Loans and drawings under Letters of Credit denominated in an Alternative Currency, all payments by the Borrower hereunder shall be made to the Lender in Dollars in immediately available fundsAdministrative Agent, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on for the date when due. Payments received after such time shall be deemed to have been received on the immediately succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with respective Lenders or the Lender (with notice to the Borrower). The Borrower shallrelevant Issuing Lender, at the time it makes any payment under this Credit Agreementas applicable, specify to the Lender the principal, interest, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (owed, at the applicable Agency Services Address in Dollars and in Same Day Funds not later than 2:00 p.m. on the event that it fails so date specified herein. Except as otherwise expressly provided herein, all payments by the Borrower hereunder with respect to specify, principal and interest on Loans or if such application would be inconsistent with the terms hereof, the Lender shall apply the payment in such manner as the Lender may determine to be appropriate in respect of obligations owing by the Borrower hereunder). Whenever any payment hereunder drawings under Letters of Credit denominated in an Alternative Currency shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended made to the immediately succeeding Business Day (subject to accrual of interest at non-default rates and fees Administrative Agent for the period account of such extension the respective Lenders (but not any default interest on amounts or for the account of the relevant Issuing Lender, as applicable) to which such payment is owed, at the applicable Agency Services Address in such Alternative Currency and in Same Day Funds not later than the Applicable Time specified by the Administrative Agent to the Borrower in writing on the dates specified herein. Without limiting the generality of the foregoing, the Administrative Agent may require that any payments due date under this Credit Agreement be made in the United States. If, for any reason, the Borrower is prohibited by any Law from making any required payment hereunder in an Alternative Currency, the Borrower shall have been extended))make such payment in Dollars in the Dollar Equivalent of the Alternative Currency payment amount. The Administrative Agent will promptly distribute to each Lender its pro rata share of such payment (based upon the applicable Commitments of the Lenders) in like funds as received by wire transfer to such Xxxxxx’s Lending Office. All payments received by the Administrative Agent (i) after 2:00 p.m. New York City time, except that in the case of LIBOR Loanspayments in Dollars, if or (ii) after the extension would cause Applicable Time specified by the payment Administrative Agent in writing to be made the Borrower in the next following calendar monthcase of payments in an Alternative Currency, then such payment shall instead in each case be made deemed received on the immediately preceding next succeeding Business Day. Except as expressly provided otherwise herein, all computations of Day and any applicable interest and fees or fee shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.continue to

Appears in 1 contract

Samples: Credit Agreement (Quest Diagnostics Inc)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices at the Agent's office specified in Section 7.1 Schedule 11.2 not later than 2:00 1:00 P.M. (New YorkMilwaukee, New York Wisconsin time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender may (but shall not be obligated to) Agent may, at the Borrower's request, debit the amount of any such payment which is not made by such time to any ordinary deposit account of Account No. 111501414 maintained by the Borrower maintained with the Lender (Agent or any other account which may be maintained by the Borrower with notice to the Agent and designated for such purpose by the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interest, fees Fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 3.11). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 1:00 p.m. (Milwaukee, Wisconsin time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees Fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Oshkosh Truck Corp)

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Place and Manner of Payments. Unless otherwise provided herein, whenever any payment of principal, interest, fees or any other payment to be made hereunder becomes due on a day other than a Business Day, such payment may be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of the amount of interest then to be paid. Except as otherwise specifically expressly provided herein, all payments hereunder shall be made to the Lender Agent in US Dollars in immediately available funds, and shall be made without offsetcondition or deduction for any counterclaim, deductiondefense, counterclaim recoupment or withholding of any kindsetoff, at its offices the Agent's office specified in Section 7.1 10.8 not later than 2:00 P.M. (New YorkCharlotte, New York North Carolina time) ). Payments of interest and principal on any Foreign Currency Loan shall be made to the date when dueAgent in the applicable Available Foreign Currency in immediately available funds, and shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff, at the account specified by the Agent for payments by the Borrower in the applicable Available Foreign Currency. Such deposit will be made to such accounts in the primary market for such Foreign Currencies as the Administrative Agent shall specify from time to time by notice to the Lenders. To the extent funds are received from the Lenders, the Administrative Agent shall promptly make such funds available to the Borrower by wire transfer to such accounts as the Borrower shall have specified to the Administrative Agent. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender may (but shall not be obligated to) Borrower and the Banks hereby authorize the Agent to debit the deposit accounts of the Borrower, or to advance Revolving Credit Loans on the Borrower's behalf, at the time any payment by the Borrower to the Agent under this Credit Agreement is due, in the amount of any the required payment. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days, except with respect to computation of interest on Base Rate Loans which (unless such payment which rate is not made determined by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice reference to the Borrower)Federal Funds Rate) shall be calculated based on a year of 365 or 366 days, as appropriate. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interestLOC Obligations, fees fees, interest or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Banks in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder). Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended subject to the immediately succeeding Business Day (subject to accrual terms of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)), except that in the case of LIBOR Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of paymentSection 2.11.

Appears in 1 contract

Samples: Credit Agreement (Watson Wyatt & Co Holdings)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender the principal, interest, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply the payment in such manner as the Lender may determine to be appropriate in respect of obligations Obligations owing by the Borrower hereunder). Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)), except that in the case of LIBOR Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowingBorrowing Date, but exclude the date of payment.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Hoku Corp)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 Schedule 2.1(a) not later than 2:00 1:00 P.M. (New YorkSan Francisco, New York California time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender Agent may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender Agent (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principal, interestLoans, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 2.6(c)). The Agent will distribute such payments to the Lenders, if any such payment is received prior to 1:00 P.M. (San Francisco, California time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to the Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Rate Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all All computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days; provided, however, that computations of interest at the Prime Rate shall be made on the basis of actual number of days elapsed over a 365/366 day year. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Sonoco Products Co)

Place and Manner of Payments. (a) All payments of principal, interest, fees, expenses and other amounts to be made by a Credit Party under this Credit Agreement shall be made unconditionally and without any setoff, deduction, counterclaim, defense, recoupment or withholding of any kind and received not later than 2:00 p.m. on the date when due, in Dollars (except with respect to principal of and interest on Loans denominated in an Alternative Currency) and in Same Day Funds, to the Administrative Agent at the Agency Services Address. Except as otherwise specifically expressly provided herein, all payments by the Borrower hereunder with respect to principal and interest on Loans denominated in an Alternative Currency shall be made to the Lender Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the applicable Agency Services Address in such Alternative Currency and in Same Day Funds not later than the Applicable Time specified by the Administrative Agent on the dates specified herein. Without limiting the generality of the foregoing, the Administrative Agent may require that any payments due under this Credit Agreement be made in the United States. If, for any reason, any Borrower is prohibited by any Law from making any required payment hereunder in an Alternative Currency, such Borrower shall make such payment in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding the Dollar Equivalent of any kind, at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on the date when dueAlternative Currency payment amount. Payments received after such time shall be deemed to have been received on the immediately succeeding next Business Day. The Lender may (but Day and additional interest shall not accrue and be obligated to) debit the amount of any payable for such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower)additional period. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Administrative Agent the principalLoans, interestLetters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply Administrative Agent shall, subject to Section 3.7, distribute such payment to the payment Lenders in such manner as the Lender Administrative Agent may determine reasonably deem appropriate). The Administrative Agent will distribute such payments to be appropriate the Lenders on the same Business Day if any such payment is received (i) at or before 2:00 p.m., in respect the case of obligations owing payments in Dollars or (ii) at or before the Applicable Time specified by the Borrower hereunder)Administrative Agent in the case of payments in an Alternative Currency, otherwise the Administrative Agent will distribute such payment to the Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that that, in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Polaris Industries Inc/Mn)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 11.1 not later than 2:00 P.M. (New YorkCharlotte, New York North Carolina time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender Agent may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower Borrowers maintained with the Lender Agent (with notice to the BorrowerBorrowers). The Borrower Borrowers shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principal, interestLoans, fees or other amounts payable by the Borrower Borrowers hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the Lenders in the manner set forth in Section 3.3(e) for mandatory prepayments). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 12:00 Noon (Charlotte, North Carolina time) on a Business Day in like funds as received prior to the end of such manner as Business Day and otherwise the Lender may determine Agent will distribute such payment to be appropriate in respect of obligations owing by such Lenders on the Borrower hereunder)next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days, except with respect to computation of interest on Base Rate Loans which shall be calculated based on a year of 365 or 366 days, as appropriate. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Promus Hotel Corp)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender the principal, interest, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply the payment in such manner as the Lender may determine to be appropriate in respect of obligations owing by the Borrower hereunder). Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)), except that in the case of a LIBOR LoansLoan, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Hoku Corp)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices at the Agent's office specified in Section 7.1 Schedule 12.2 not later than 2:00 1:00 P.M. (New YorkMilwaukee, New York Wisconsin time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender may (but shall not be obligated to) Agent may, at the Borrower's request, debit the amount of any such payment which is not made by such time to any ordinary deposit account of Account No. 121581139 maintained by the Borrower maintained with the Lender (Agent or any other account which may be maintained by the Borrower with notice to the Agent and designated for such purpose by the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interest, fees Fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 4.11). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 1:00 p.m. (Milwaukee, Wisconsin time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees Fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (C2 Inc)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Administrative Agent in Dollars dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices at the Administrative Agent's office specified in Section 7.1 Schedule 2.1(a) not later than 2:00 P.M. (New YorkCharlotte, New York North Carolina time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender Administrative Agent may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower Borrowers maintained with the Lender Administrative Agent (with notice to the BorrowerBorrowers). The Borrower Borrowers shall, at the time it any Borrower makes any payment under this Credit Agreement, specify to the Lender Administrative Agent the principalLoans, interestLOC Obligations, fees Fees, interest or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Administrative Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Administrative Agent may determine to be appropriate in respect of obligations owing by the Borrower Borrowers hereunder, subject to the terms of Section 3.12(a)). The Administrative Agent will distribute such payments to such Lenders, if any such payment is received prior to 12:00 Noon (Charlotte, North Carolina time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Administrative Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees Fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days, except that computations of interest on Base Rate Loans (unless the Base Rate is determined by reference to the Federal Funds Rate) shall be calculated based on a year of 365 or 366 days, as appropriate. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Inex Corp)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Bank in United States Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices Bank's office specified in Section 7.1 herein not later than 2:00 P.M. 11:00 A.M. (New York, New York timeEastern Standard Time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender may (but shall not be obligated to) Bank may, at Borrower's request, debit the amount of any such payment which is not made by such time to any ordinary deposit account of the maintained by Borrower with Bank or any other account which may be maintained by Borrower with the Lender (with notice to the Bank and designated for such purpose by Borrower). The Borrower shall, at the time it makes any payment under this Credit Loan Agreement, specify to Bank the Lender the principal, interestLoan, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Bank shall apply such payment to the payment Loan in such manner as the Lender Bank may determine to be appropriate in respect of obligations owing by the Borrower hereunder). Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extendedextension)), except that in the case of LIBOR Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of except that interest accruing by reference to the Prime Rate shall accrue on the basis of the actual number of days elapsed over a year of 365 or 366 days, as the case may be interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Loan Agreement (Caraco Pharmaceutical Laboratories LTD)

Place and Manner of Payments. Except as otherwise specifically provided hereinin the Credit Agreement, all payments hereunder under the Credit Agreement shall be made to the Lender in Dollars Agent in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices specified prior to 2:00 P.M., local time in Section 7.1 not later than 2:00 P.M. the place where such payment is required to be made pursuant to this subsection (New Yorkb), New York time) on the date when duedue at the office of the Agent: at 000 X. Xxxxx Street, Independence Center, 15th Floor, NC1-001-15-01, Xxxxxxxxx, Xxxxx Xxxxxxxx 00000 with respect to payments in Dollars; at 00 Xxx Xxxxx Xxxxxx, XX0-000-00-00, Xxxxxx, Xxxxxxx XX0X 0XX with respect to payments in British Pounds Sterling; or at such other place as may be designated by the Agent to the Borrowers in writing. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender Agent may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower Borrowers maintained with the Lender Agent (with notice to the BorrowerBorrowers). The Each Borrower shall, at the time it makes any payment under this the Credit Agreement, specify to the Lender Agent the principalLoans, interestLOC Obligations, fees Fees, interest or other amounts payable by such Borrower under the Borrower hereunder Credit Agreement to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereofof the Credit Agreement, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by such Borrower under the Borrower hereunderCredit Agreement, subject to the terms of Section 3.12(a)). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 12:00 Noon (Charlotte, North Carolina time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder under the Credit Agreement shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees Fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise hereinin the Credit Agreement, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days, except with respect to computation of interest on Foreign Currency Loans and Base Rate Loans which (unless the Base Rate is determined by reference to the Federal Funds Rate) shall be calculated based on a year of 365 or 366 days, as appropriate. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Hunt Corp)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices at the Agent's office specified in Section 7.1 Schedule 11.2 not later than 2:00 P.M. (New YorkCharlotte, New York North Carolina time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender Agent may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender Agent (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interestLOC Obligations, fees Fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 3.11). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 12:00 Noon (Charlotte, North Carolina time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees Fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days, except with respect to computation of interest on Base Rate Loans which shall be calculated based on a year of 365 or 366 days, as appropriate. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Cort Business Services Corp)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender in Dollars Agent in immediately available funds, without offsetsetoff, deduction, counterclaim or withholding of any kind, at its offices the Agent's office specified in Section 7.1 Schedule 2.1(a) not later than 2:00 P.M. (New YorkCharlotte, New York North Carolina time) on the date when due. Payments Any payment received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender may (Agent may, but shall not be obligated to) debit the amount of any such payment which is not made by such time to , charge any ordinary deposit account of any Credit Party at the Agent for the payment when due of all amounts payable by the Borrower maintained with the Lender (with notice to the Borrower)hereunder. The Each Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principal, interest, fees or other amounts payable by the Borrower hereunder Credit Party Obligations to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate appropriate, subject to the terms of Section 3.13(a)). The Agent shall promptly remit in respect same day funds to each Lender such Lender's share, if any, of obligations owing payments received by the Borrower hereunder)Agent for the account of such Lender. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees Fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days, except with respect to computation of interest on Base Rate Loans which (unless the Base Rate is determined by reference to the Federal Funds Rate) shall be calculated based on a year of 365 or 366 days, as appropriate. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Cluett Peabody & Co Inc /De)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 not later than 2:00 P.M. (New York, New York time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately succeeding Business Day. The Lender may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower maintained with the Lender (with notice to the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender the principal, interest, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender shall apply the payment in such manner as the Lender may determine to be appropriate in respect of obligations owing by the Borrower hereunder). Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)), except that in the case of LIBOR LoansLoan, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Hoku Corp)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices at the Agent's office specified in Section 7.1 Schedule 2.1(a) not later than 2:00 P.M. (New YorkCharlotte, New York North Carolina time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender Agent may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower Borrowers maintained with the Lender Agent (with notice to the BorrowerBorrowers). The Borrower Borrowers shall, at the time it any Borrower makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interestLOC Obligations, fees Fees, interest or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be e inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower Borrowers hereunder, subject to the terms of Section 3.12(a)). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 12:00 Noon (Charlotte, North Carolina time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will e distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees Fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days, except that computations of interest on Base Rate Loans (unless the Base Rate is determined by reference to the Federal Funds Rate) shall be calculated based on a year of 365 or 366 days, as appropriate. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Speedway Motorsports Inc)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices specified in Section 7.1 11.1 not later than 2:00 P.M. (New YorkCharlotte, New York North Carolina time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender Agent may (but shall not be obligated to) debit the amount of any such payment which is not made by such time to any ordinary deposit account of the Borrower Borrowers maintained with the Lender Agent (with notice to the BorrowerBorrowers). The Borrower Borrowers shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interestLOC Obligations, fees or other amounts payable by the Borrower Borrowers hereunder to which such payment is to be applied (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the Lenders in the manner set forth in Section 3.3(e) for mandatory prepayments). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 12:00 Noon (Charlotte, North Carolina time) on a Business Day in like funds as received prior to the end of such manner as Business Day and otherwise the Lender may determine Agent will distribute such payment to be appropriate in respect of obligations owing by such Lenders on the Borrower hereunder)next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended)extension), except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days, except with respect to computation of interest on Base Rate Loans which shall be calculated based on a year of 365 or 366 days, as appropriate. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Promus Hotel Corp)

Place and Manner of Payments. Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender Agent in Dollars in immediately available funds, without offset, deduction, counterclaim or withholding of any kind, at its offices the Agent’s office specified in Section 7.1 Schedule 11.2 not later than 2:00 1:00 P.M. (New YorkMilwaukee, New York Wisconsin time) on the date when due. Payments received after such time shall be deemed to have been received on the immediately next succeeding Business Day. The Lender may (but shall not be obligated to) Agent may, at the Borrower’s request, debit the amount of any such payment which is not made by such time to any ordinary deposit account of which may be maintained by the Borrower maintained with the Lender (with notice to Agent and designated for such purpose by the Borrower). The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Lender Agent the principalLoans, interest, fees Fees or other amounts payable by the Borrower hereunder to which such payment is to be applied applied, with the understanding that any such designation by the Borrower shall not be in contravention of the requirements of this Credit Agreement (and in the event that it fails so to specify, or if such application would be inconsistent with the terms hereof, the Lender Agent shall apply distribute such payment to the payment Lenders in such manner as the Lender Agent may determine to be appropriate in respect of obligations owing by the Borrower hereunder, subject to the terms of Section 3.11). The Agent will distribute such payments to such Lenders, if any such payment is received prior to 1:00 p.m. (Milwaukee, Wisconsin time) on a Business Day in like funds as received prior to the end of such Business Day and otherwise the Agent will distribute such payment to such Lenders on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the immediately next succeeding Business Day (subject to accrual of interest at non-default rates and fees for the period of such extension (but not any default interest on amounts as to which such due date shall have been extended))Day, except that in the case of LIBOR Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the immediately next preceding Business Day. Except as expressly provided otherwise herein, all All computations of interest and fees shall be made on the basis of actual number of days elapsed over a year of 360 days except computations of interest on Prime Rate Loans, which shall be made on the basis of actual number of days elapsed over a year of 365 or 366 days, as applicable. Interest shall accrue from and include the date of borrowing, but exclude the date of payment.

Appears in 1 contract

Samples: Credit Agreement (Journal Communications Inc)

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