Common use of Advances and Payments Clause in Contracts

Advances and Payments. The proceeds of all 1999-2000 Term Loans --------------------- shall be credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the costs of acquisition of Qualifying Equipment. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note or in the 1999 Term Note or with respect to any Obligations relating to the ACH transactions. Whenever any payment to be made to the Bank hereunder, under the 1998 Term Note, under the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made net of any impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, under the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 or to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any Term Note and/or any of the other Loan Documents and/or with respect to any of the other Obligations, next to interest then accrued on account of any Term Loans or other Obligations and only thereafter to principal of the Term Loans and the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsed.

Advances and Payments. (a) The proceeds of all 1999-2000 Term Revolving Loans --------------------- shall be credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Revolving Loan will be used by the Borrower solely to pay for (or reimburse i) repayment of existing Indebtedness listed on item 1.12 of the Borrower forattached Disclosure Schedule, (ii) the costs of acquisition of Qualifying Equipment. working capital and general corporate purposes and (iii) funding LC Draw Obligations. (b) The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactionsRevolving Note; and will promptly thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Note or with respect to any Obligations relating to the ACH transactions. Revolving Note. (c) Whenever any payment to be made to the Bank hereunder, under the 1998 Term Note, under the 1999 Term Revolving Note and/or with respect or as to any Obligations relating to ACH transactions Letter of Credit shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or hereunder, in respect of the 1998 Term Revolving Note or the 1999 Term Note and/or with in respect to of any Obligations relating to ACH transactions Letter of Credit shall be made net of without reduction for any impositions Impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, under the 1998 Term Revolving Note and/or the 1999 Term Note and/or with respect as to any Obligations relating to ACH transactions Letter of Credit shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx 100 Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 or xx to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses then due and payable to the Bank under this letter agreement, any Term the Revolving Note and/or any of the other Loan Documents and/or with respect to any of the other ObligationsDocuments, next to interest then accrued on account of any Term Revolving Loans or other Obligations and only thereafter to principal of the Term Floating Rate Loans, then to the principal of LIBOR Loans and then to LC Draw Obligations. (d) If the other Obligations. All entire amount of any required payment of principal and/or interest and fees payable hereunder and/or under on the Revolving Loans or any Term Note and/or with respect LC Draw Obligation is not paid within ten (10) days after the same is due, the Borrower shall pay to any the Bank a late fee equal to five percent (5%) of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsed.required payment; provided, that this ss.1.12

Advances and Payments. The proceeds of all 1999-2000 the Term Loans --------------------- Loan shall be credited by the Bank to a general deposit account Account No. maintained by the Borrower with the Bank. The proceeds of each 1999-2000 the Term Loan will be used by the Borrower solely to pay (or reimburse finance the Borrower for) buildout of the costs of acquisition of Qualifying Equipmentfacility located at Xxxxxxxx Xxxx, Xxxxxxxxxxx, XX 00000. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactionsNote; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Note or with respect to any Obligations relating to the ACH transactionsNote. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made net of any impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, hereunder and/or under the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx Xxxxxxx 00 Xxxxx Xxxxxx, Xxxxxx, XX 00000 or to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any the Term Note and/or any of the other Loan Documents and/or with respect to any of the other ObligationsDocuments, next to interest then accrued on account of any Term Loans or other Obligations Loan and only thereafter to principal of the Term Loans and the other ObligationsLoan. All interest and fees payable hereunder and/or under any the Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsed.

Advances and Payments. The proceeds of all 1999-2000 Term Demand Loans --------------------- shall be --------------------- credited by the Bank to a general deposit account maintained by the Borrower with the Bank, except that each Alternate Currency Demand Loan will be credited to an account established by the Borrower in a country in which the relevant Alternate Currency is legal tender. The proceeds of each 1999-2000 Term Demand Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the for general corporate purposes, including providing liquidity for working capital and funding costs of acquisition capital expenditures. Further, to the extent and under the conditions set forth in (S)1.10 below, availability for Demand Loans may be used to obtain letters of Qualifying Equipmentcredit. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Demand Note and/or with respect to any Obligations relating to ACH transactionsletter of credit; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Demand Note or with respect to any Obligations relating to the ACH transactionsletter of credit. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Demand Note and/or or with respect to any Obligations relating to ACH transactions letter of credit shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Demand Note and/or with respect to any Obligations relating to ACH transactions letter of credit shall be made net of any impositions Impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments Without limitation of interestthe foregoing, principal and any other sum payable hereunder, under the 1998 Term Note and/or the 1999 Term Note and/or with respect to Alternate Currency Demand Loans, the Borrower will hold the Bank harmless on an after-tax basis for all costs or losses to it of complying with any Obligations relating to ACH transactions shall be made to the Bankliquidity, in lawful money monetary control or prudential requirements of the United States in immediately available funds, at its office at Xxx Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 Bank of England or to such other address as the Bank may central bank existing from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any Term Note and/or any of the other Loan Documents and/or with respect to any of the other Obligations, next to interest then accrued on account of any Term Loans or other Obligations and only thereafter to principal of the Term Loans and the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsedtime.

Advances and Payments. The proceeds of all 1999-2000 Term Revolving Loans --------------------- shall be credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Revolving Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the costs of acquisition of Qualifying Equipmentfor working capital purposes. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Revolving Note and/or with respect to any Obligations relating letter of credit and/or with respect to ACH transactionsany of the other Obligations; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Revolving Note or with respect to any Obligations relating letter of credit or with respect to any of the ACH transactionsother Obligations. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Revolving Note and/or or with respect to any letter of credit or with respect to any of the other Obligations relating to ACH transactions shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Revolving Note and/or with respect to any letter of credit or any of the other Obligations relating to ACH transactions shall be made net of any impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, under the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 or to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any Term Note and/or any of the other Loan Documents and/or with respect to any of the other Obligations, next to interest then accrued on account of any Term Loans or other Obligations and only thereafter to principal of the Term Loans and the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsed.

Advances and Payments. The proceeds of all 1999-2000 Term Revolving Loans --------------------- shall be credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Revolving Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the costs of acquisition of Qualifying Equipmentfor working capital purposes. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Revolving Note and/or with respect to any Obligations relating to ACH transactionsletter of credit; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Revolving Note or with respect to any Obligations relating to the ACH transactionsletter of credit. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Revolving Note and/or or with respect to any Obligations relating to ACH transactions letter of credit shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Revolving Note and/or with respect to any Obligations relating to ACH transactions letter of credit shall be made net of any impositions Impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, hereunder and/or under the 1998 Term Revolving Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx Xxxxxxx 00 Xxxxx Xxxxxx, Xxxxxx, XX 00000 or to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any Term the Revolving Note and/or any of the other Loan Documents and/or with respect to any of the other ObligationsDocuments, next to interest then accrued on account of any Term Revolving Loans or other Obligations letter of credit reimbursement obligations and only thereafter to principal of the Term Revolving Loans and the other Obligationsletter of credit reimbursement obligations. All interest and fees payable hereunder and/or under any Term the Revolving Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsed.

Advances and Payments. The proceeds of all 1999-2000 Term Loans --------------------- shall be credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the costs of for acquisition of Qualifying EquipmentEquipment and/or for payment of Qualifying Software/Engineering Costs. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactionsNote; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Note or with respect to any Obligations relating to the ACH transactionsNote. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made net of any impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, hereunder and/or under the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx Xxxxxxx 75 Sxxxx Xxxxxx, Xxxxxx, XX 00000 or xx to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any the Term Note and/or any of the other Loan Documents and/or with respect to any of the other ObligationsDocuments, next to interest then accrued on account of any Term Loans or other Obligations and only thereafter to principal of the Term Loans and the other ObligationsLoans. All interest and fees payable hereunder and/or under any the Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsed.

Advances and Payments. The proceeds of all 1999-2000 Term Revolving Loans --------------------- shall be credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Revolving Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the costs of acquisition of Qualifying Equipmentfor working capital purposes. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Revolving Note and/or with respect to any Obligations relating to ACH transactionsletter of credit; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Revolving Note or with respect to any Obligations relating to the ACH transactionsletter of credit. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Revolving Note and/or or with respect to any Obligations relating to ACH transactions letter of credit shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Revolving Note and/or with respect to any Obligations relating to ACH transactions letter of credit shall be made net of any impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, under the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 or to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any Term Note and/or any of the other Loan Documents and/or with respect to any of the other Obligations, next to interest then accrued on account of any Term Loans or other Obligations and only thereafter to principal of the Term Loans and the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsed.

Advances and Payments. The proceeds of all 1999-2000 Term Loans --------------------- shall be credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the costs of acquisition of fund Qualifying EquipmentCosts. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 agreement and/or the: Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactionsNote; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the the, Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Note or with respect to any Obligations relating to the ACH transactionsNote. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made net of any impositions Impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, hereunder and/or under the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx Xxxxxxx 75 Sxxxx Xxxxxx, Xxxxxx, XX 00000 or xx to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any the Term Note and/or any of the other Loan Documents and/or with respect to any of the other ObligationsDocuments, next to interest then accrued on account of any Term Loans or other Obligations and only thereafter to principal of the Term Loans and the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsedLoans.

Advances and Payments. (a) The proceeds of all 1999-2000 Term Loans --------------------- each Loan shall be credited by the Bank to a general deposit account accounts maintained by the Borrower with the Bank. The proceeds of each 1999-2000 the Term Loan and the initial Revolving Loans will be used by the Borrower Borrower, solely as set forth on item 1.14 of the attached Disclosure Schedule. The proceeds of future Revolving Loans will be used solely for working capital, general corporate purposes and funding LC Draw Obligations. (b) The Bank shall notify the Borrower, in writing, as to pay (or reimburse the amounts of all payments of interest, principal and other sums when same are due by the Borrower, from time to time, under this Agreement and/or the Notes and the Borrower for) hereby authorizes the costs of acquisition of Qualifying Equipment. The Bank may to thereafter charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, when same are due by the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions; and will Borrower. The Bank shall thereafter promptly thereafter notify the Borrower of the amount so charged. The failure of the Bank so to notify the Borrower, to charge any account or to give any such subsequent notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Note or with respect to any Obligations relating to the ACH transactions. Notes. (c) Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term any Note and/or with respect to any Obligations relating to ACH transactions shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term any Note or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made net of any impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, hereunder and/or under the 1998 Term any Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx 000 Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 or to at such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 3:00 p.m. on any day shall be deemed -11- received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing respect of the Loans specified by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreementAgreement, any Term Note the Notes and/or any of the other Loan Documents and/or with respect to any of the other ObligationsDocuments, next to interest then accrued on account of any Term Loans or other Obligations the applicable Loan and only thereafter to principal of the applicable Loan. (d) If the entire amount of any required payment of principal and/or interest on the Revolving Loans, the Term Loans and Loan or any LC Draw Obligation is not paid within ten (10) days after the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect same is due, the Borrower shall pay to the Bank a late fee equal to five percent (5%) of the required payment; provided, that this Section 1.14(d) shall not apply to any amount whose maturity shall have bee accelerated or to the principal balance of the other Obligations shall be calculated on Revolving Loans outstanding as of the basis of a 360-day year for the actual number of days elapsedExpiration Date.

Advances and Payments. The proceeds of all 1999-2000 Term Loans --------------------- shall be credited by --------------------- the Bank to a general deposit account maintained by the Borrower with the BankBank or otherwise as the Borrower may direct. The proceeds of each 1999-2000 Revolving Loan will be used by the Borrower solely for working capital purposes and to repay certain loans owed to Danvers Savings Bank and certain bridge loans owed to Xxxxxxx Xxxx and Xxxxx Xxxxx. The proceeds of each Term Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the acquisition costs of acquisition of Qualifying Equipment. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums when same are due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term any Note and/or with respect to any Obligations relating to ACH transactionsletter of credit; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term any Note or with respect to any Obligations relating to the ACH transactionsletter of credit. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term any Note and/or or with respect to any Obligations relating to ACH transactions letter of credit shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term any Note and/or with respect to any Obligations relating to ACH transactions letter of credit shall be made net of any impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, hereunder and/or under the 1998 Term Note and/or the 1999 Term any Note and/or with respect to any Obligations relating to ACH transactions letter of credit shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx Xxxxxxx 00 Xxxxx Xxxxxx, Xxxxxx, XX 00000 or to at such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any Term Note and/or any of the other Loan Documents and/or with respect to any letter of the other Obligationscredit, next to interest then accrued on account of any Term Loans or other Obligations letter of credit reimbursement obligations and only thereafter to principal of the Loans and letter of credit reimbursement obligations, being applied against the Loans and/or such obligations in such order as the Borrower may designate (and, failing such designation, being applied first against the letter of credit reimbursement obligations, next against the Revolving Loans and thereafter against installments of the Term Loans and the other Obligationsin inverse order of normal maturity). All interest and fees payable hereunder and/or under any Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsed.

Advances and Payments. The proceeds of all 1999-2000 Term Loans --------------------- shall be --------------------- credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the acquisition costs of acquisition of Qualifying EquipmentEquipment and/or Qualifying Leasehold Improvements. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactionsNote; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Note or with respect to any Obligations relating to the ACH transactionsNote. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made net of any impositions Impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, hereunder and/or under the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money currency of the United States in immediately available funds, at its office at Xxx 000 Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 or to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any the Term Note and/or any of the other Loan Documents and/or with respect to any of the other ObligationsDocuments, next to interest then accrued on account of any Term Loans or other Obligations and only thereafter to principal of the Term Loans Loans; provided, however, that after the occurrence and during the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect continuance of an Event of Default, payments will be applied to any obligations of the other Obligations shall be calculated on Borrower to the basis of a 360-day year for Bank as the actual number of days elapsedBank determines in its sole discretion.

Advances and Payments. The proceeds of all 1999-2000 Term Loans --------------------- shall be credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the acquisition costs of acquisition of Qualifying EquipmentEquipment and/or Qualifying Leasehold Improvements. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactionsNote; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Note or with respect to any Obligations relating to the ACH transactionsNote. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made net of any impositions Impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, hereunder and/or under the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money currency of the United States in immediately available funds, at its office at Xxx 000 Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 or to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any the Term Note and/or any of the other Loan Documents and/or with respect to any of the other ObligationsDocuments, next to interest then accrued on account of any Term Loans or other Obligations and only thereafter to principal of the Term Loans and the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsedLoans.

Advances and Payments. The proceeds of all 1999-2000 Term Revolving Loans --------------------- shall be credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Revolving Loan will be used by the Borrower solely to pay (or reimburse for working capital purposes and, in the Borrower for) the costs of acquisition of Qualifying Equipmentordinary course, for other general corporate purposes. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Revolving Note and/or with respect to any Obligations relating to ACH transactionsletter of credit; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Revolving Note or with respect to any Obligations relating to the ACH transactionsletter of credit. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Revolving Note and/or or with respect to any Obligations relating to ACH transactions letter of credit shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Revolving Note and/or with respect to any Obligations relating to ACH transactions letter of credit shall be made net of any impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, under the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 or to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any Term Note and/or any of the other Loan Documents and/or with respect to any of the other Obligations, next to interest then accrued on account of any Term Loans or other Obligations and only thereafter to principal of the Term Loans and the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsed.

Advances and Payments. The proceeds of all 1999-2000 Term Loans --------------------- shall be credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Demand Loan shall be used by the Borrower solely for working capital purposes. At the date of execution and delivery of this letter agreement, all loans outstanding under the Prior Note are deemed to be refunded by Demand Loans under this letter agreement. The proceeds of each Term Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the acquisition costs of acquisition of Qualifying EquipmentEquipment and/or Qualifying Leasehold Improvements. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums when same are due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term any Note and/or with respect to any Obligations relating to ACH transactionsletter of credit; and will thereafter promptly notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term any Note or with respect to any Obligations relating to the ACH transactionsletter of credit. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term any Note and/or or with respect to any Obligations relating to ACH transactions letter of credit shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term any Note and/or with respect to any Obligations relating to ACH transactions letter of credit shall be made net of any impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, hereunder and/or under the 1998 Term Note and/or the 1999 Term any Note and/or with respect to any Obligations relating to ACH transactions letter of credit shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 or to at such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any Term Note and/or any of the other Loan Documents and/or with respect to any letter of the other Obligationscredit, next to interest then accrued on account of any Term Loans or other Obligations letter of credit reimbursement obligations and only thereafter to principal of the Loans and letter of credit reimbursement obligations, being applied against the Loans and/or such obligations in such order as the Borrower may designate (and, failing such designation, being applied first against the letter of credit reimbursement obligations, next against any outstanding Demand Loans and thereafter against installments of the Term Loans and the other Obligationsin inverse order of normal maturity). All interest and fees payable hereunder and/or under any Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsed.

Advances and Payments. The proceeds of all 1999-2000 Term Revolving Loans --------------------- shall be --------------------- credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Revolving Loan will be used by the Borrower solely for working capital purposes and other general corporate purposes (including loans to pay Subsidiaries, but only within the limits set forth in (or reimburse the Borrower for) the costs of acquisition of Qualifying EquipmentS)4.5 below). The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Revolving Note and/or with respect to any Obligations relating letter of credit and/or with respect to ACH transactionsany of the other Obligations; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Revolving Note or with respect to any Obligations relating letter of credit or with respect to any of the ACH transactionsother Obligations. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Revolving Note and/or or with respect to any letter of credit or with respect to any of the other Obligations relating to ACH transactions shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Revolving Note and/or with respect to any letter of credit or any of the other Obligations relating to ACH transactions shall be made net of any impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, under the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 or to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any Term Note and/or any of the other Loan Documents and/or with respect to any of the other Obligations, next to interest then accrued on account of any Term Loans or other Obligations and only thereafter to principal of the Term Loans and the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsed.

Advances and Payments. The proceeds of all 1999-2000 Term Loans --------------------- shall be credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the acquisition costs of acquisition of Qualifying EquipmentEquipment and Qualifying Leasehold Improvements. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactionsNote; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Note or with respect to any Obligations relating to the ACH transactionsNote. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made net of any impositions Impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, hereunder and/or under the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money currency of the United States in immediately available funds, at its office at Xxx Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 or to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any the Term Note and/or any of the other Loan Documents and/or with respect to any of the other ObligationsDocuments, next to interest then accrued on account of any Term Loans or other Obligations and only thereafter to principal of the Term Loans and the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsedLoans.

Advances and Payments. The proceeds of all 1999-2000 Term Revolving Loans --------------------- shall be --------------------- credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Revolving Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the costs of acquisition of Qualifying Equipmentfor working capital purposes. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Revolving Note and/or with respect to any Obligations relating to ACH transactionsletter of credit; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Revolving Note or with respect to any Obligations relating to the ACH transactionsletter of credit. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Revolving Note and/or or with respect to any Obligations relating to ACH transactions letter of credit shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Revolving Note and/or with respect to any Obligations relating to ACH transactions letter of credit shall be made net of any impositions or taxes and without deduction, set-off setoff or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, under the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 or to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any Term Note and/or any of the other Loan Documents and/or with respect to any of the other Obligations, next to interest then accrued on account of any Term Loans or other Obligations and only thereafter to principal of the Term Loans and the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsed.

Advances and Payments. The proceeds of all 1999-2000 Term Loans --------------------- shall be credited by the Bank to a general deposit account maintained by the Borrower with the Bank. The proceeds of each 1999-2000 Term Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the costs of for acquisition of Qualifying Equipment. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactionsNote; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term Note or with respect to any Obligations relating to the ACH transactionsNote. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made net of any impositions Impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, hereunder and/or under the 1998 Term Note and/or the 1999 Term Note and/or with respect to any Obligations relating to ACH transactions shall be made to the Bank, in lawful money of the United States in immediately available funds, at its office at Xxx Xxxxxxx 75 Sxxxx Xxxxxx, Xxxxxx, XX 00000 or xx to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any the Term Note and/or any of the other Loan Documents and/or with respect to any of the other ObligationsDocuments, next to interest then accrued on account of any Term Loans or other Obligations and only thereafter to principal of the Term Loans and the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect to any of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsedLoans.

Advances and Payments. The proceeds of all 1999-2000 Term the Revolving Loans --------------------- shall be credited by the Bank to a general deposit account maintained by the Borrower with the BankBank or otherwise as the Borrower may direct. The proceeds of each 1999-2000 Term Revolving Loan will be used by the Borrower solely to pay (or reimburse the Borrower for) the costs of acquisition of Qualifying Equipmentfor working capital and other general corporate purposes. The Bank may charge any general deposit account of the Borrower at the Bank with the amount of all payments of interest, principal and other sums due, from time to time, under this letter agreement, the 1998 Term Note agreement and/or the 1999 Term any Note and/or with respect to any Obligations relating to ACH transactionsletter of credit; and will thereafter notify the Borrower of the amount so charged. The failure of the Bank so to charge any account or to give any such notice shall not affect the obligation of the Borrower to pay interest, principal or other sums as provided herein, in the 1998 Term Note herein or in the 1999 Term any Note or with respect to any Obligations relating to the ACH transactionsletter of credit. Whenever any payment to be made to the Bank hereunder, hereunder or under the 1998 Term Note, under the 1999 Term any Note and/or or with respect to any Obligations relating to ACH transactions letter of credit shall be stated to be due on a day which is not a Business Day, such payment may be made on the next succeeding Business Day, and interest payable on each such date shall include the amount thereof which shall accrue during the period of such extension of time. All payments by the Borrower hereunder and/or in respect of the 1998 Term Note or the 1999 Term any Note and/or with respect to any Obligations relating to ACH transactions letter of credit shall be made net of any impositions Impositions or taxes and without deduction, set-off or counterclaim, notwithstanding any claim which the Borrower may now or at any time hereafter have against the Bank. All payments of interest, principal and any other sum payable hereunder, hereunder and/or under the 1998 Term Note and/or the 1999 Term any Note and/or with respect to any Obligations relating to ACH transactions letter of credit shall be made to the Bank, in lawful money currency of the United States in immediately available funds, at its office at Xxx One Xxxxxxx Xxxxxx, Xxxxxx, XX 00000 or xx to such other address as the Bank may from time to time direct. All payments received by the Bank after 2:00 p.m. on any day shall be deemed received as of the next succeeding Business Day. All monies received by the Bank hereunder shall (unless an Event of Default has occurred and is then continuing) be applied as designated in writing by the Borrower at the time of such payment and, failing such designation (or if an Event of Default has occurred and is then continuing), shall be applied first to fees, charges, costs and expenses payable to the Bank under this letter agreement, any Term Note and/or any of the other Loan Documents and/or with respect to any letter of the other Obligationscredit, next to interest then accrued on account of any Term Loans or other Obligations letter of credit obligations and only thereafter to principal of the Loans and letter of credit reimbursement obligations, being applied in such order as the Borrower may designate (and, failing such designation, being applied first against the letter of credit reimbursement obligations, next against the Revolving Loans and thereafter against installments of the Term Loans and the other Obligations. All interest and fees payable hereunder and/or under any Term Note and/or with respect to any in inverse order of the other Obligations shall be calculated on the basis of a 360-day year for the actual number of days elapsednormal maturity).