Crediting and Application of Specific Payments Sample Clauses

Crediting and Application of Specific Payments. The Borrowers shall make all payments to be made by the Borrowers under this Agreement with respect to the Obligations not later than 2:00 p.m. (Central time) on the day when due, without setoff, counterclaim, defense or deduction of any kind, to the Lender’s account maintained for such purpose at the Payment Office of the Lender. Payments received after 2:00 p.m. (Central time) shall be deemed to have been received on the next succeeding Business Day.
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Crediting and Application of Specific Payments. The Borrowers shall make all other payments to be made by the Borrowers under this Agreement with respect to the Obligations not later than 4:00 p.m. (Eastern Time) on the day when due, without setoff, counterclaim, defense or deduction of any kind, to the Administrative Agent’s account maintained at the Payment Office of the Administrative Agent. Payments received after 4:00 p.m. (Eastern Time) shall be deemed to have been received on the next succeeding Business Day. Prior to the occurrence of an Event of Default which is continuing, the Borrower Representative may specify to the Administrative Agent, at the time of the Borrowers making any such payment hereunder, the Obligations of the Borrowers to which such payment is to be applied. If the Borrower Representative does not specify an application for such payment or if an Event of Default has occurred and is continuing, the Administrative Agent shall apply such payment to such Obligations as provided in Section 7.4(d) of this Agreement.
Sample 1
Crediting and Application of Specific Payments. The Borrowers shall make all payments to be made by the Borrowers under this Agreement with respect to the Obligations not later than 2:00 p.m. (Central time) on the day when due, without setoff, counterclaim, defense or deduction of any kind, to the Lender’s account maintained for such purpose at the Payment Office of the Lender. Payments received after 2:00 p.m. (Central time) shall be deemed to have been received on the next succeeding Business Day. . Whenever any payment hereunder or under the Note shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day. Any such extension or reduction of time shall in such case be included in the computation of payment of interest, fees or other compensation. . Commencing on the dates specified in the Note, and continuing on the same day of each month until the Loan Termination Date, Borrowers shall pay interest only on the unpaid principal balance of the Loan at the rate of interest set forth in the Note. The entire principal balance of the Loan, together with all accrued and unpaid interest and all other amounts payable hereunder shall be due and payable in full on the Loan Termination Date. . Borrowers shall have no right to prepay all or any part of the principal of the Note prior to the Loan Termination Date, without Lender’s prior written consent, which consent may be withheld by Lender in its sole discretion.
Sample 1
Crediting and Application of Specific Payments. Except for the crediting to the Borrowers' Advance Account for Collections deposited to the Cash Concentration Account as provided below, the Borrowers shall make all other payments to be made by the Borrowers under this Agreement with respect to the Obligations not later than 2:00 p.m. (Cleveland time) on the day when due, without setoff, counterclaim, defense or deduction of any kind, to the Administrative Agent's account maintained at the Payment Office of the Administrative Agent. Payments received after 2:00 p.m. (Cleveland time) shall be deemed to have been received on the next succeeding Business Day. Prior to the occurrence of an Event of Default which is continuing, the Borrower Representative may specify to the Administrative Agent, at the time of the Borrowers' making any such payment hereunder, the Obligations of the Borrowers to which such payment is to be applied. If the Borrower Representative does not specify an application for such payment or if an Event of Default has occurred which is continuing, the Administrative Agent shall apply such payment to such Obligations as provided in Section 4.1(d) and 13.4(d) of this Agreement, as applicable. Prior to the occurrence of a Cash Control Event and a Cash Control Election, the Borrower Representative may specify to Administrative Agent, at the time of the Borrowers' making any such payment hereunder, the Obligations of the Borrowers to which such payment is to be applied. If the Borrower Representative does not specify an application for such payment or if an Event of Default has occurred and is continuing, the Administrative Agent shall apply such payment to such Obligations as provided in Section 4.1(d) and Section 13.4(d) of this Agreement, as applicable.
Sample 1

Related to Crediting and Application of Specific Payments

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