Funds; Manner of Payment. Each payment of principal and interest on the Note shall be made in immediately available federal funds without set-off or counterclaim to Lender. Whenever any payment to be made hereunder or under the Note shall be stated to be due, or whenever any Payment Date would otherwise occur on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest.
Funds; Manner of Payment. (a) All amounts to be paid by or on behalf of the Borrower to the Lender under this Agreement will be paid by the deposit of such amounts, to the account designated by the Lender, in immediately available funds in Dollars, on the date on which such amount is due. If the date for any payment or prepayment under this Agreement is extended by operation of law or otherwise, interest with respect thereto will be payable at the then-applicable Revolving Facility Interest Rate during such extension period.
(b) As provided in Section 5.01(a) of the Basic Servicing Agreement, so long as MBFS USA remains both the Lender and the Servicer, MBFS USA may retain for its own account Collections on the Revolving Facility Pool to pay amounts payable to the Lender or the Servicer pursuant to Article Ten, and, to the extent of any such amounts so retained, the amounts due to the Servicer under the Basic Servicing Agreement or any Servicing Supplement or to the Lender under this Agreement will be deemed paid in full. MBFS USA and the Borrower will, however, account for all payments and deposits separately in the same manner as if such amounts had been deposited into the Collection Account and distributed in the manner set forth in Article Ten on the applicable Payment Date.
Funds; Manner of Payment. Each payment and each prepayment of principal of and interest on any Loan, and each payment on account of all other Obligations shall be paid by Borrower without set-off or counterclaim to Lender pursuant to the Lender Wire Transfer Instructions, in Federal or other immediately available funds in lawful money of the United States of America, not later than 2:00 p.m. (or 4:30 p.m. in the case of any prepayment required to be made pursuant to Section 3.03(c) hereof from a Sale), New York City time, on the date on which any such payment or prepayment is payable. If any payment hereunder or under either Note becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day. If the date for any payments or prepayments of principal is extended by operation of law or otherwise, interest thereon shall be payable at the then applicable rate during such extension.
Funds; Manner of Payment. (a) Unless otherwise specified herein each payment and prepayment of principal of and interest on each Loan shall be made by the Co-Borrowers not later than 12:00 noon, New York City time, on the date on which it is payable.
(b) All payments made by the Co-Borrowers hereunder or under any Note will be made without setoff, counterclaim, deductions or other defense. All such payments will be made free and clear of, and without deduction or withholding for, any present or future taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature now or hereafter imposed by any jurisdiction or by any political subdivision or taxing authority thereof or therein (but excluding any tax imposed on or measured by the net income of the Bank) and all interest, penalties or similar liabilities with respect thereto (such non-excluded items being hereinafter collectively referred to as "Taxes"). If any Taxes are so levied or imposed, the Co-Borrowers will pay the full amount of such Taxes and such additional amounts as may be necessary so that every payment of all amounts due hereunder or under any Note, after withholding or deduction for or on account of any Taxes, will not be less than the amount provided for herein or in such Note. The Co-Borrowers will furnish to the Bank within 30 days after the date the payment of any Taxes is due pursuant to applicable law certified copies of tax receipts evidencing such payment by the Co-Borrowers. The Co-Borrowers will indemnify and hold harmless the Bank, and reimburse the Bank upon its written request, for the amount of any Taxes so levied or imposed and paid by the Bank, which indemnity shall survive termination of this Agreement and payment of the Notes. All payments under this Agreement shall be made in lawful money of the United States of America in immediately available funds at the Payment Office of the Bank.
(c) In the event that the Bank assigns all or a portion of its obligations hereunder to a bank that is organized outside of the United States, such bank shall deliver to the Co-Borrowers on the date of the assignment and from time to time as required for renewal under applicable law duly completed copies of United States Internal Revenue Service Form 1001 or 4224 (or any successor or additional forms), as appropriate, indicating in each case that such bank is entitled to receive payments under this Agreement without any deduction or withholding of any United States federal income taxes. Any bank t...
Funds; Manner of Payment. (a) Unless otherwise specified herein each payment and prepayment of principal of and interest on the Notes shall be made by the Company not later than 12:00 noon, New York City time, on the date on which it is payable.
(b) All payments under this Agreement shall be made by the Company without defense, set-off or counterclaim to the Bank on the date when due and shall be made in lawful money of the United States of America in immediately available funds at the Payment Office of the Bank.
(c) The Bank shall directly charge all interest payments due in respect of the Loans to the Company's account(s) at the Payment Office or other office of the Bank.
(d) No payment pursuant to any subsection of this Article III of less than the entire unpaid principal amount of any Loan shall be credited to or relieve the Company to any extent from its obligations to make any other payment or prepayment required by any other section of this Article III.
Funds; Manner of Payment. Each payment and each prepayment of principal of and interest on the Loan, and each payment on account of all other Obligations shall be paid by the Borrower without set-off or counterclaim to the Lender at its office located at 600 Steamboat Road, Greenwich, Coxxxxxxxxx 00000 xx xx xxxx xxxxx xxxxxxxx xx xxxount as the Lender may specify to the Borrower from time to time, in Federal or other immediately available funds in lawful money of the United States of America, not later than 1:00 p.m. (New York City time) on the date on which any such payment or prepayment is payable. If any payment hereunder or under the Note becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day. If the date for any payments or prepayments of principal is extended by operation of law or otherwise, interest thereon shall be payable at the then applicable rate during such extension.
Funds; Manner of Payment. SECTION 3.10. Pro Rata Treatment and Payments
Funds; Manner of Payment. (i) All payments (including prepayments) on account of principal, interest, fees and any other amounts payable by the Borrowers to the Bank hereunder shall be made without setoff or counterclaim and shall be made to the Bank on the date of payment at 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000 or before 11:00 a.m. (New York City time), in each case in lawful money of the United States of America and in immediately available funds (which payments may be made by the Borrowers’ use of electronic transfers); without limiting the foregoing, the Borrowers hereby authorize the Bank to charge any operating account of the Borrowers for each such payment on the due date therefor. If any payment hereunder becomes due and payable on a day other than a Business Day, such payment shall be extended to the next succeeding Business Day and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension. Notwithstanding the foregoing, if any payment of principal or interest becomes due on a day on which the banks in New York, New York are required or permitted by law to remain closed, such payment may be made on the next succeeding day on which such banks are open, and such extensions shall be included in computing interest in connection with such payment; provided, however that if the result of any such extension would be to extend the maturity date of any LIBOR Loan into another calendar month the payment shall be made on the immediately preceding Business Day.
(ii) All payments shall be applied first to the payment of fees, expenses and other amounts due to the Bank (excluding principal and interest), then to accrued interest, and the balance on account of outstanding principal; provided that after an Event of Default, payments will be applied to the obligations of the Borrowers to the Bank as the Bank determines in its sole discretion.
Funds; Manner of Payment. Each payment and prepayment of principal of the Note and each payment of interest on the Note shall be made by the Borrowers to the Bank in the following manner: at 000 Xxxx Xxxxxx, 0xx xxxxx, Xxx Xxxx, Xxx Xxxx 00000, not later than 2:00 P.M., New York City time, on the date on which payable, by debiting the Borrowers' Account in the amount of such payment; provided, however, that if there shall be insufficient funds in the Borrowers' Account prior to 2:00 P.M., New York City time on such date, the Borrowers shall deposit funds into the Borrowers' Account so that by 2:00 P.M., New York City time on such date, sufficient funds shall be available in the Borrowers' Account.
Funds; Manner of Payment. Each payment and prepayment of principal and interest on the Note shall be made in lawful money of the United States in Federal or other immediately available funds without set-off or counterclaim to Lender. Whenever any payment to be made hereunder or under any 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, and such extension of time shall in such case be included in the computation of payment of interest or fees, as the case may be.
