Common use of Credit for Payments Clause in Contracts

Credit for Payments. All payments of principal, interest and fees hereunder payable to Lender shall be made without condition or reservation of right and free of set-off or counterclaim, in Dollars, either by authorized debit to Borrower’s Account or by wire transfer (pursuant to Lender’s written wire transfer instructions) of immediately available funds, to Lender, not later than 11:00 A.M. (Los Angeles time) on the date due; and funds received by Lender after that time and date shall be deemed to have been paid on the next succeeding Business Day.