Common use of Currency and method of payments Clause in Contracts

Currency and method of payments. All payments to be made by any Borrower to the Lender under a Finance Document shall be made to the Lender: (a) by not later than 11.00 a.m. (New York City time) on the due date; (b) in same day Dollar funds settled through the New York Clearing House Interbank Payments System (or in such other Dollar funds and/or settled in such other manner as the Lender shall specify as being customary at the time for the settlement of international transactions of the type contemplated by this Agreement); and (c) to such account as the Lender may from time to time notify to the Borrowers.

Appears in 5 contracts

Samples: Loan Agreement (B Plus H Ocean Carriers LTD), Loan Agreement (B Plus H Ocean Carriers LTD), Loan Agreement (TBS International LTD)

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Currency and method of payments. All payments to be made by any the Borrower to the Lender under a Finance Document shall be made to the Lendermade: (a) by not later than 11.00 a.m. (New York City time) on the due date; (b) in same day Dollar funds settled through the New York Clearing House Interbank Payments System (or in such other Dollar funds and/or settled in such other manner as the Lender shall specify as being customary at the time for the settlement of international transactions of the type contemplated by this Agreement); and (c) to such the account of the Lender with a bank in New York as the Lender may from time to time notify to the BorrowersBorrower.

Appears in 5 contracts

Samples: Loan Agreement (Box Ships Inc.), Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Box Ships Inc.)

Currency and method of payments. All payments to be made by any the Borrower to the Lender under a Finance Document shall be made to the Lender: (a) by not later than 11.00 a.m. 11:00 am (New York City time) on the due date;: (b) in same day Dollar funds settled through the New York Clearing House Interbank Payments Payment System (or in such other Dollar funds and/or settled in such other manner as the Lender shall specify as being customary at the time for the settlement of international transactions of the type contemplated by this Agreement); and (c) to such the account of the Lender with a bank in New York as the Lender may from time to time notify to the BorrowersBorrower.

Appears in 2 contracts

Samples: Loan Agreement (Tsakos Energy Navigation LTD), Loan Agreement (Tsakos Energy Navigation LTD)

Currency and method of payments. All payments to be made by any the Borrower to the Lender under a Finance Document shall be made to the Lendermade: (a) by not later than 11.00 a.m. (New York City time) on the due date; (b) in same day Dollar funds settled through the New York Clearing House Interbank Payments System (or in such other Dollar funds and/or settled in such other manner as the Lender shall specify as being customary at the time for the settlement of international transactions of the type contemplated by this Agreement); and (c) to such account of the Lender with a bank in New York as the Lender may from time to time notify to the BorrowersBorrower.

Appears in 1 contract

Samples: Loan Agreement (Danaos Corp)

Currency and method of payments. All payments to be made by any the Borrower to the Lender under a Finance Document shall be made to the Lender: (a) by not later than 11.00 a.m. (New York City time) on the due date; (b) in same day Dollar funds settled through the New York Clearing House Interbank Payments System (or in such other Dollar funds and/or settled in such other manner as the Lender shall specify as being customary at the time for the settlement of international transactions of the type contemplated by this Agreement); and (c) to such account as the Lender may from time to time notify to the BorrowersBorrower.

Appears in 1 contract

Samples: Loan Agreement (TBS International LTD)

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Currency and method of payments. All payments to be made by any Borrower the Borrowers to the Lender under a Finance Document shall be made to the Lender: (a) by not later than 11.00 a.m. (New York City London time) on the due date; (b) in same day Dollar funds settled through the New York Clearing House Interbank Payments System (or in such other Dollar funds and/or settled in such other manner as the Lender shall specify as being customary at the time for the settlement of international transactions of the type contemplated by this Agreement); and (c) to such account of the Lender with a bank in New York as the Lender may from time to time notify to the Borrowers.

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

Currency and method of payments. All payments to be made by any Borrower the Borrowers to the Lender under a Finance Document shall be made to the Lender: (a) by not later than 11.00 a.m. (New York City time) on the due date; (b) in same day Dollar funds settled through the New York Clearing House Interbank Payments System (or in such other Dollar funds and/or settled in such other manner as the Lender shall specify as being customary at the time for the settlement of international transactions of the type contemplated by this Agreement); and (c) to such account of the Lender as the Lender may from time to time notify to the Borrowers.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

Currency and method of payments. All payments to be made by any the Borrower to the Lender under a Finance Document shall be made to the Lendermade: (a) by not later than 11.00 a.m. (New York City time) on the due date; (b) in same day Dollar funds settled through the New York Clearing House Interbank Payments System (or in such other Dollar funds and/or settled in such other manner as the Lender shall specify as being customary at the time for the settlement of international transactions of the type contemplated by this Agreement); and (c) to such the account of the Lender with a bank in New York as the Lender may from time to time notify to the BorrowersBorrower.

Appears in 1 contract

Samples: Loan Agreement (Box Ships Inc.)

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