Common use of Disbursements and Payments Clause in Contracts

Disbursements and Payments. Each advance under the Line of Credit by Bank and each payment by Borrower under the Line of Credit will be: a. Made at Bank's Commercial Banking Office, or other location selected by Bank from time to time. b. Made for the account of Bank's Commercial Banking Office (or other office or branch selected by Bank from time to time). c. Made in lawful money of the United States in immediately available funds and shall be made without setoff or counterclaim. d. Evidenced by records kept by Bank.