Common use of Disbursements and Payments Clause in Contracts

Disbursements and Payments. (a) Each Base Rate Loan and Eurodollar -------------------------- Loan shall be made on a pro rata basis by Banks, and each Bank's portion of each Loan shall be determined by application of its Normal Percentage. Each Bid Rate Loan shall be made entirely by the Bank whose offer was accepted by Borrower pursuant to Section 2.4. Each Bank's interest in each Loan and each payment to such Bank under this Agreement shall be for the account of such Bank's Lending Office. (b) Each Loan and each payment of principal, interest and other sums under this Agreement shall be made in immediately available funds (or such other funds as Administrative Agent may require) at Bank of America's Agency Administrative Services #5596, 0000 Xxxxxxx Xxxx., Xxxxxxx, Xxxxxxxxxx 00000, Acct No. 12337-15346, Ref: Xxxxxx Electronics Corporation or such other office designated by Administrative Agent from time to time. (c) Each Bank agrees it will make the funds which it is to advance hereunder available to Bank of America's Agency Administrative Services #5596, 0000 Xxxxxxx Xxxx., Xxxxxxx, Xxxxxxxxxx 00000, Acct No. 12337-15346, Ref: Xxxxxx Electronics Corporation or such other office designated by Administrative Agent from time to time not later than 11:00 a.m. California time on the Borrowing Date, and Administrative Agent will thereupon promptly advance to Borrower the amount so received from Banks. (d) Payment of all sums under this Agreement shall be made by Borrower to Administrative Agent, and the latter shall promptly distribute to each Bank its share of such payments. Each payment by Borrower shall be made without setoff or counterclaim and not later than 11:00 a.m. California time on the day such payment is due. All sums received after such time shall be deemed received on the next Business Day. (e) If Administrative Agent makes available to Borrower an amount due from any Bank which such Bank fails to make available to Administrative Agent, or if Administrative Agent makes available to any Bank an amount due from Borrower which Borrower fails to make available to Administrative Agent, Borrower or such Bank, as the case may be, shall, on demand, refund such amount to Administrative Agent, together with interest thereon for the period during which such amount was available to Borrower or such Bank, as the case may be, at the Federal Funds Rate. (f) Any sum of principal or interest payable by Borrower hereunder if not paid when due shall bear interest (payable on demand) from its due date until payment in full (computed daily on the basis of a 365 or 366, as the case may be, day year and actual days elapsed) at a rate per annum equal to the Base Rate plus one percentage point.

Disbursements and Payments. (a) Each Base Rate Loan and Eurodollar -------------------------- Loan shall be made on a pro rata basis by BanksBanks based on their respective Commitments, and each Bank's portion of each Loan shall be determined by application of its Normal Percentage. Each Bid Rate Loan shall be made entirely by the Bank whose offer was accepted by Borrower pursuant to Section 2.4. Each Bank's interest in each Loan and each payment to such Bank under this Agreement shall be for the account of such Bank's Lending Office. (b) Each Loan and each payment of principal, interest and other sums under this Agreement shall be made in immediately available funds (or such other funds as Administrative Agent may require) at Bank of America's Agency Administrative Services #5596Services-West, 0000 Xxxxxxx Xxxx., Xxxxxxx, Xxxxxxxxxx 00000, ABA #000000000, Acct No. 12337-153463750836479, Ref: Xxxxxx Electronics Corporation or such other office designated by Administrative Agent from time to time. (c) Each Bank agrees it will make the funds which it is to advance hereunder available to Bank of America's Agency Administrative Services #5596Services-West, 0000 Xxxxxxx Xxxx., Xxxxxxx, Xxxxxxxxxx 00000, ABA #000000000, Acct No. 12337-153463750836479, Ref: Xxxxxx Electronics Corporation or such other office designated by Administrative Agent from time to time not later than 11:00 a.m. A.M. California time on the Borrowing Date, and Administrative Agent will thereupon promptly advance to Borrower the amount so received from Banks. (d) Payment of all sums under this Agreement shall be made by Borrower to Administrative Agent, and the latter shall promptly distribute to each Bank its share of such payments. Each payment by Borrower shall be made without setoff or counterclaim and not later than 11:00 a.m. California time on the day such payment is due. All sums received after such time shall be deemed received on the next Business Day. (e) If Administrative Agent makes available to Borrower an amount due from any Bank which such Bank fails to make available to Administrative Agent, or if Administrative Agent makes available to any Bank an amount due from Borrower which Borrower fails to make available to Administrative Agent, Borrower or such Bank, as the case may be, shall, on demand, refund such amount to Administrative Agent, together with interest thereon for the period during which such amount was available to Borrower or such Bank, as the case may be, at the Federal Funds Rate. (f) Any sum of principal or interest payable by Borrower hereunder if not paid when due shall bear interest (payable on demand) from its due date until payment in full (computed daily on the basis of a 365 or 366, as the case may be, day year and actual days elapsed) at a rate per annum equal to the Base Rate plus one the margin applicable for Base Rate Loans under Section 2.3(a)(i) plus two percentage pointpoints.

Disbursements and Payments. (a) Each Base Reference Rate Loan and -------------------------- Eurodollar -------------------------- Loan shall be made on a pro rata basis by Banks, and each Bank's portion of each Loan shall be determined by application of its Normal Percentage. Each Bid Rate Loan shall be made entirely by the Bank whose offer was accepted by Borrower pursuant to Section 2.4. Each Bank's interest in each Loan and each payment to such Bank under this Agreement shall be for the account of such Bank's applicable Lending Office. (b) Each Loan and each payment of principal, interest and other sums under this Agreement shall be made in immediately available funds (or such other funds as Administrative Agent may require) at Bank of AmericaAdministrative Agent's Agency Administrative Services #5596Loan Syndications Operations Center at Xxx Xxxxx Xxxxxx, 0000 Xxxxxxx 0xx Xxxxx Xxxx 0, Xxxx Xxxxxx Xxxx., Xxxxxxx, Xxxxxxxxxx Xxx Xxxx 00000, Acct No. 12337-1534636852248, ABA No. 000000000, Ref: Xxxxxx Electronics Corporation SurFin Ltd., Attn: Bank Loan Syndications or such other office designated by Administrative Agent from time to time. (c) Each Bank agrees it will make the funds which it is to advance hereunder available to Bank of America's Agency Administrative Services #5596, 0000 Xxxxxxx Xxxx., Xxxxxxx, Xxxxxxxxxx 00000, Acct No. 12337-15346, Ref: Xxxxxx Electronics Corporation Agent at its address set forth in Section 2.9(b) or such other office designated by Administrative Agent from time to time not later than 11:00 a.m. California 2:00 p.m. New York time on the Borrowing Date, and except as provided in Section 2.13(b) with respect to Loans used to reimburse any Issuing Bank for the amount of a drawing under a Letter of Credit issued by it, Administrative Agent will thereupon promptly advance to Borrower the applicable Obligor the amount so received from Banks. (d) Payment of all sums under this Agreement shall be made by Borrower the Obligors to Administrative Agent, and the latter shall promptly distribute to each Bank its share of such payments. Each payment by Borrower the Obligors shall be made without setoff set-off or counterclaim and not later than 11:00 a.m. California time New York time, in the case of Reference Rate Loans, and 2:00 p.m. New York time, in the case of Eurodollar Loans, in each case on the day such payment is due. All sums received after such time shall be deemed received on the next Business Day. (e) If Administrative Agent makes available to Borrower an Obligor an amount due from any Bank which such Bank fails to make available to Administrative Agent, or if Administrative Agent makes available to any Bank an amount due from Borrower an Obligor which Borrower such Obligor fails to make available to Administrative Agent, Borrower such Obligor or such Bank, as the case may be, shall, on demand, refund such amount to Administrative Agent, together with interest thereon for the period during which such amount was available to Borrower such Obligor or such Bank, as the case may be, at the Federal Funds Rate. (f) Any sum of principal or interest payable by Borrower an Obligor hereunder if not paid when due shall bear interest (payable on demand) from its due date until payment in full (computed daily on the basis of a 365 three hundred sixty-five or 366three hundred sixty-six, as the case may be, day year and actual days elapsed) at a rate per annum equal to the Base Reference Rate plus one two (2) percentage pointpoints.

Disbursements and Payments. (a) Each Base Rate Loan and Eurodollar -------------------------- Loan shall be made on a pro rata basis by Banks, and each Bank's portion of each Loan shall be determined by application of its Normal Percentage. Each Bid Rate Loan shall be made entirely by the Bank whose offer was accepted by Borrower pursuant to Section 2.4. Each Bank's interest in each Loan and each payment to such Bank under this Agreement shall be for the account of such Bank's Lending Office. (b) Each Loan and each payment of principal, interest and other sums under this Agreement shall be made in immediately available funds (or such other funds as Administrative Agent may require) at Bank of America's Agency Administrative Services #5596Services-West, 0000 Xxxxxxx Xxxx., Xxxxxxx, Xxxxxxxxxx 00000, ABA #000000000, Acct No. 12337-153463750836479, Ref: Xxxxxx Electronics Corporation or such other office designated by Administrative Agent from time to time. (c) Each Bank agrees it will make the funds which it is to advance hereunder available to Bank of America's Agency Administrative Services #5596Services-West, 0000 Xxxxxxx Xxxx., Xxxxxxx, Xxxxxxxxxx 00000, ABA #000000000, Acct No. 12337-153463750836479, Ref: Xxxxxx Electronics Corporation or such other office designated by Administrative Agent from time to time not later than 11:00 a.m. California time on the Borrowing Date, and Administrative Agent will thereupon promptly advance to Borrower the amount so received from Banks. (d) Payment of all sums under this Agreement shall be made by Borrower to Administrative Agent, and the latter shall promptly distribute to each Bank its share of such payments. Each payment by Borrower shall be made without setoff or counterclaim and not later than 11:00 a.m. California time on the day such payment is due. All sums received after such time shall be deemed received on the next Business Day. (e) If Administrative Agent makes available to Borrower an amount due from any Bank which such Bank fails to make available to Administrative Agent, or if Administrative Agent makes available to any Bank an amount due from Borrower which Borrower fails to make available to Administrative Agent, Borrower or such Bank, as the case may be, shall, on demand, refund such amount to Administrative Agent, together with interest thereon for the period during which such amount was available to Borrower or such Bank, as the case may be, at the Federal Funds Rate. (f) Any sum of principal or interest payable by Borrower hereunder if not paid when due shall bear interest (payable on demand) from its due date until payment in full (computed daily on the basis of a 365 or 366, as the case may be, day year and actual days elapsed) at a rate per annum equal to the Base Rate plus one percentage pointDefault Rate.

Disbursements and Payments. (a) Each Base Rate Loan and Eurodollar -------------------------- Loan shall be made on a pro rata basis by Banks, and each Bank's portion of each Loan shall be determined by application of its Normal Percentage. Each Bid Rate Loan shall be made entirely by the Bank whose offer was accepted by Borrower pursuant to Section 2.4. Each Bank's interest in each Loan and each payment to such Bank under this Agreement shall be for the account of such Bank's Lending Office. (b) Each Loan and each payment of principal, interest and other sums under this Agreement shall be made in immediately available funds (or such other funds as Administrative Agent may require) at Bank of America's Agency Administrative Services #5596Services-West, 0000 Xxxxxxx Xxxx., Xxxxxxx, Xxxxxxxxxx 00000, ABA #000000000, Acct No. 12337-153463750836479, Ref: Xxxxxx Electronics Corporation or such other office designated by Administrative Agent from time to time. (c) Each Bank agrees it will make the funds which it is to advance hereunder available to Bank of America's Agency Administrative Services #5596Services-West, 0000 Xxxxxxx Xxxx., Xxxxxxx, Xxxxxxxxxx 00000, ABA #000000000, Acct No. 12337-153463750836479, Ref: Xxxxxx Electronics Corporation or such other office designated by Administrative Agent from time to time not later than 11:00 a.m. California time on the Borrowing Date, and Administrative Agent will thereupon promptly advance to Borrower the amount so received from Banks. (d) Payment of all sums under this Agreement shall be made by Borrower to Administrative Agent, and the latter shall promptly distribute to each Bank its share of such payments. Each payment by Borrower shall be made without setoff or counterclaim and not later than 11:00 a.m. California time on the day such payment is due. All sums received after such time shall be deemed received on the next Business Day. (e) If Administrative Agent makes available to Borrower an amount due from any Bank which such Bank fails to make available to Administrative Agent, or if Administrative Agent makes available to any Bank an amount due from Borrower which Borrower fails to make available to Administrative Agent, Borrower or such Bank, as the case may be, shall, on demand, refund such amount to Administrative Agent, together with interest thereon for the period during which such amount was available to Borrower or such Bank, as the case may be, at the Federal Funds Rate. (f) Any sum of principal or interest payable by Borrower hereunder if not paid when due shall bear interest (payable on demand) from its due date until payment in full (computed daily on the basis of a 365 or 366, as the case may be, day year and actual days elapsed) at a rate per annum equal to the Base Rate plus one percentage point.