Common use of General Provisions as to Payments Clause in Contracts

General Provisions as to Payments. (a) The Borrower shall make each payment of principal of, and interest on, Loans and of fees hereunder, in Dollars not later than 11:00 A.M. (California local time) on the date when due, in Federal or other immediately available funds, to the Administrative Agent at its address referred to in Section 9.01, without offset or counterclaim. The Administrative Agent will promptly distribute to each Lender its ratable share of each such payment received by the Administrative Agent for the account of the Lenders, in Dollars and in the type of funds received by the Administrative Agent. Whenever any payment of principal of, or interest on, the Base Rate Loans or of fees shall be due on a day which is not a Domestic Business Day, the date for payment thereof shall be extended to the next succeeding Domestic Business Day. Whenever any payment of principal of, or interest on, the Euro-Dollar Loans shall be due on a day which is not a Euro-Dollar Business Day, the date for payment thereof shall be extended to the next succeeding Euro-Dollar Business Day unless such Euro-Dollar Business Day falls in another calendar month, in which case the date for payment thereof shall be the next preceding Euro-Dollar Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Appears in 5 contracts

Samples: Term Credit Agreement (Park Place Entertainment Corp), Term Credit Agreement (Park Place Entertainment Corp), Short Term Credit Agreement (Park Place Entertainment Corp)

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General Provisions as to Payments. (a) The Borrower shall make each payment of principal of, and interest on, Loans and of fees hereunder, in Dollars not later than 11:00 A.M. (California local time) on the date when due, in Federal federal or other immediately available funds, to the Administrative Agent at its address referred to in Section 9.01, without offset or counterclaim. The Administrative Agent will promptly distribute to each Lender its ratable share of each such payment received by the Administrative Agent for the account of the Lenders, in Dollars and in the type of funds received by the Administrative Agent. Whenever any payment of principal of, or interest on, the Base Rate Loans or of fees shall be due on a day which is not a Domestic Business Day, the date for payment thereof shall be extended to the next succeeding Domestic Business Day. Whenever any payment of principal of, or interest on, the Euro-Dollar Loans or shall be due on a day which is not a Euro-Dollar Business Day, the date for payment thereof shall be extended to the next succeeding Euro-Dollar Business Day unless such Euro-Dollar Business Day falls in another calendar month, in which case the date for payment thereof shall be the next preceding Euro-Dollar Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Appears in 4 contracts

Samples: Term Credit Agreement (Hilton Hotels Corp), Term Credit Agreement (Hilton Hotels Corp), Term Credit Agreement (Hilton Hotels Corp)

General Provisions as to Payments. (a) The Borrower shall make each payment of principal of, and interest on, the Loans and of fees hereunder, in Dollars not later than 11:00 A.M. 1:00 P.M. (California local Eastern time) on the date when due, in Federal or other funds immediately available fundsin New York City, to the Administrative Agent at its address referred to in Section 9.019.01 and without reduction by reason of any set-off, without offset counterclaim or counterclaimdeduction of any kind. The Administrative Agent will promptly distribute to each Lender in like funds its ratable share of each such payment received by the Administrative Agent for the account of the Lenders, in Dollars and in the type of funds received by the Administrative Agent. Whenever any payment of principal of, or interest on, the Base Rate Loans or of fees shall be due on a day which is not a Domestic Business Day, the date for payment thereof shall be extended to the next succeeding Domestic Business Day. Whenever any payment of principal of, or interest on, the Euro-Dollar Loans shall be due on a day which is not a Euro-Dollar Business Day, the date for payment thereof shall be extended to the next succeeding Euro-Dollar Business Day unless such Euro-Dollar Business Day falls in another calendar month, in which case the date for payment thereof shall be the next preceding Euro-Dollar Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Appears in 3 contracts

Samples: Term Loan Credit Agreement (Duke Energy CORP), Credit Agreement (Duke Energy CORP), Term Loan Credit Agreement (Piedmont Natural Gas Co Inc)

General Provisions as to Payments. (a) The Borrower shall make each payment of principal of, and interest on, Loans and Letters of Credit Liabilities and of fees hereunder, in Dollars not later than 11:00 A.M. (California local time) on the date when due, in Federal or other immediately available funds, to the Administrative Agent at its address referred to in Section 9.01, without offset or counterclaim. The Administrative Agent will promptly distribute to each Lender its ratable share of each such payment received by the Administrative Agent for the account of the Lenders, in Dollars and in the type of funds received by the Administrative Agent. Whenever any payment of principal of, or interest on, the Base Rate Loans or Letters of Credit Liabilities or of fees shall be due on a day which is not a Domestic Business Day, the date for payment thereof shall be extended to the next succeeding Domestic Business Day. Whenever any payment of principal of, or interest on, the Euro-Dollar Loans shall be due on a day which is not a Euro-Dollar Business Day, the date for payment thereof shall be extended to the next succeeding Euro-Dollar Business Day unless such Euro-Dollar Business Day falls in another calendar month, in which case the date for payment thereof shall be the next preceding Euro-Dollar Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Appears in 1 contract

Samples: Credit Agreement (Park Place Entertainment Corp)

General Provisions as to Payments. (a) The Borrower shall make each payment of principal of, and interest on, the Loans and of fees hereunder, in Dollars not later than 11:00 A.M. 1:00 P.M. (California local New York City time) on the date when due, in Federal or other funds immediately available fundsin New York City, to the Administrative Agent at its address referred to in Section 9.019.01 and without reduction by reason of any set-off, without offset counterclaim or counterclaimdeduction of any kind. The Administrative Agent will promptly distribute to each Lender Bank in like funds its ratable share of each such payment received by the Administrative Agent for the account of the Lenders, in Dollars and in the type of funds received by the Administrative AgentBanks. Whenever any payment of principal of, or interest on, the Base Rate Loans or of fees shall be due on a day which is not a Domestic Business Day, the date for payment thereof shall be extended to the next succeeding Domestic Business Day. Whenever any payment of principal of, or interest on, the Euro-Dollar Loans shall be due on a day which is not a Euro-Dollar Business Day, the date for payment thereof shall be extended to the next succeeding Euro-Dollar Business Day unless such Euro-Dollar Business Day falls in another calendar month, in which case the date for payment thereof shall be the next preceding Euro-Dollar Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Appears in 1 contract

Samples: Credit Agreement (Duke Energy Corp)

General Provisions as to Payments. (a) The a)The Borrower shall make each payment of principal of, and interest on, the Loans and of fees hereunder, in Dollars not later than 11:00 A.M. 1:00 P.M. (California local Eastern time) on the date when due, in Federal or other funds immediately available fundsin New York City, to the Administrative Agent at its address referred to in Section 9.01‎Section 9.01 and without reduction by reason of any set-off, without offset counterclaim or counterclaimdeduction of any kind. The Administrative Agent will promptly distribute to each Lender in like funds its ratable share of each such payment received by the Administrative Agent for the account of the Lenders, in Dollars and in the type of funds received by the Administrative Agent. Whenever any payment of principal of, or interest on, the Base Rate Loans or of fees shall be due on a day which is not a Domestic Business Day, the date for payment thereof shall be extended to the next succeeding Domestic Business Day. Whenever any payment of principal of, or interest on, the Euro-Dollar Euro‑Dollar Loans shall be due on a day which is not a Euro-Dollar Euro‑Dollar Business Day, the date for payment thereof shall be extended to the next succeeding Euro-Dollar Euro‑Dollar Business Day unless such Euro-Dollar Euro‑Dollar Business Day falls in another calendar month, in which case the date for payment thereof shall be the next preceding Euro-Dollar Euro‑Dollar Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Appears in 1 contract

Samples: The Term Loan Credit Agreement (Progress Energy Inc)

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General Provisions as to Payments. (a) The a)The Borrower shall make each payment of principal of, and interest on, the Loans and of fees hereunder, in Dollars not later than 11:00 A.M. 1:00 P.M. (California local Eastern time) on the date when due, in Federal or other funds immediately available fundsin New York City, to the Administrative Agent at its address referred to in Section 9.019.01 and without reduction by reason of any set-off, without offset counterclaim or counterclaimdeduction of any kind. The Administrative Agent will promptly distribute to each Lender in like funds its ratable share of each such payment received by the Administrative Agent for the account of the Lenders, in Dollars and in the type of funds received by the Administrative Agent. Whenever any payment of principal of, or interest on, the Base Rate Loans or of fees shall be due on a day which is not a Domestic Business Day, the date for payment thereof shall be extended to the next succeeding Domestic Business Day. Whenever any payment of principal of, or interest on, the Euro-Dollar Euro‑Dollar Loans shall be due on a day which is not a Euro-Dollar Euro‑Dollar Business Day, the date for payment thereof shall be extended to the next succeeding Euro-Dollar Euro‑Dollar Business Day unless such Euro-Dollar Euro‑Dollar Business Day falls in another calendar month, in which case the date for payment thereof shall be the next preceding Euro-Dollar Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.Euro‑Dollar

Appears in 1 contract

Samples: Term Loan Credit Agreement (Duke Energy Progress, Llc.)

General Provisions as to Payments. (a) The Borrower shall make each payment of principal of, and interest on, the Loans and of fees hereunder, in Dollars not later than 11:00 A.M. 1:00 P.M. (California local Eastern time) on the date when due, in Federal or other funds immediately available fundsin New York City, to the Administrative Agent at its address referred to in Section 9.019.01 and without reduction by reason of any set-off, without offset counterclaim or counterclaimdeduction of any kind. The Administrative Agent will promptly distribute to each Lender Bank in like funds its ratable share of each such payment received by the Administrative Agent for the account of the Lenders, in Dollars and in the type of funds received by the Administrative AgentBanks. Whenever any payment of principal of, or interest on, the Base Rate Loans or of fees shall be due on a day which is not a Domestic Business Day, the date for payment thereof shall be extended to the next succeeding Domestic Business Day. Whenever any payment of principal of, or interest on, the Euro-Dollar Loans shall be due on a day which is not a Euro-Dollar Business Day, the date for payment thereof shall be extended to the next succeeding Euro-Dollar Business Day unless such Euro-Dollar Business Day falls in another calendar month, in which case the date for payment thereof shall be the next preceding Euro-Dollar Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Appears in 1 contract

Samples: Credit Agreement (Duke Energy CORP)

General Provisions as to Payments. (a4) The Borrower shall make each payment of principal of, and interest on, Loans and of fees hereunder, in Dollars not later than 11:00 A.M. (California local time) on the date when due, in Federal or other immediately available funds, to the Administrative Agent at its address referred to in Section 9.01, without offset or counterclaim. The Administrative Agent will promptly distribute to each Lender its ratable share of each such payment received by the Administrative Agent for the account of the Lenders, in Dollars and in the type of funds received by the Administrative Agent. Whenever any payment of principal of, or interest on, the Base Rate Loans or of fees shall be due on a day which is not a Domestic Business Day, the date for payment thereof shall be extended to the next succeeding Domestic Business Day. Whenever any payment of principal of, or interest on, the Euro-Dollar Loans shall be due on a day which is not a Euro-Dollar Business Day, the date for payment thereof shall be extended to the next succeeding Euro-Dollar Business Day unless such Euro-Dollar Business Day falls in another calendar month, in which case the date for payment thereof shall be the next preceding Euro-Dollar Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Appears in 1 contract

Samples: Term Credit Agreement (Park Place Entertainment Corp)

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