Common use of General Provisions Regarding Payment Clause in Contracts

General Provisions Regarding Payment. All payments to be made by Borrowers under any Loan Document, including payments of principal and interest and all fees, expenses, indemnities and reimbursements, shall be made without set off or counterclaim, in lawful money of the United States of America and in immediately available funds. 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 except with respect to payments of principal. Borrowers shall make all payments in immediately available funds to the account of the Agent as designated from time to time for receipt of such funds before 1:00 p.m. (Chicago time) on the date when due; provided that all payments received by Agent after 1:00 p.m. (Chicago time) on any Business Day may (in Agent's discretion) be credited as if received on the next succeeding Business Day. Any optional or mandatory prepayment of the Term Loan shall be accompanied by timely delivery to Agent of an appropriately completed Payment Notification, as provided in Section 2.3.6 hereof. In the absence of receipt by Agent of an appropriately completed Payment Notification on or prior to such prepayment, each Borrower and each Lender hereby fully authorizes and directs Agent, notwithstanding any contrary application provisions contained herein, to apply payments and/or prepayments received from any Borrower against the outstanding Term Loan in accordance with the provisions of Section 2.3.5 hereof; provided that if Agent at any time determines that payments received by Agent were in respect of a mandatory prepayment event, Agent shall apply such payments in accordance with the provisions of Section 2.3.5 hereof, and shall be fully authorized by each Borrower and each Lender to make any corresponding Register reversals in respect thereof.

General Provisions Regarding Payment. All payments to be made by Borrowers under any Loan Document, including payments of principal and interest and all fees, expenses, indemnities and reimbursements, shall be made without set off or counterclaim, in lawful money of the United States of America and in immediately available funds. 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 except and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension. Borrowers shall make all payments in immediately available funds to the account of the Agent as designated from time to time for receipt of such funds Payment Account before 1:00 p.m. (Chicago time) on the date when due; provided that all payments received by Agent after 1:00 p.m. (Chicago time) on any Business Day may (in Agent's discretion) be credited as if received on the next succeeding Business Day. Any optional or mandatory prepayment of the Term Loan shall be accompanied by timely delivery to Agent of an appropriately completed Payment Notification, as provided in Section 2.3.6 hereof. In the absence of receipt by Agent of an appropriately completed Payment Notification on or prior to such prepayment, each Borrower and each Lender hereby fully authorizes and directs Agent, notwithstanding any contrary application provisions contained herein, to apply payments and/or prepayments received from any Borrower against the outstanding Term Loan in accordance with the provisions of Section 2.3.5 hereof; provided provided, that if Agent at any time determines that payments received by Agent were in respect of a mandatory prepayment event, Agent shall apply such payments in accordance with the provisions of Section 2.3.5 hereof, and shall be fully authorized by each Borrower and each Lender to make any corresponding Register reversals in respect thereof.

General Provisions Regarding Payment. All payments to be made by Borrowers Borrower under any Loan Financing Document, including payments of principal and interest made hereunder and pursuant to any other Financing Document, and all fees, expenses, indemnities and reimbursements, shall be made without set set-off or counterclaim, in lawful money of the United States of America and in immediately available funds. 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 except and, with respect to payments of principal. Borrowers , interest thereon shall make all payments be payable at the then applicable rate during such extension (it being understood and agreed that, solely for purposes of calculating financial covenants and computations contained herein and determining compliance therewith, if payment is made, in immediately available funds full, on any such extended due date, such payment shall be deemed to the account of the Agent as designated from time to time for receipt of such funds before 1:00 p.m. (Chicago time) have been paid on the original due date when due; provided that all without giving effect to any extension thereto). Any payments received by Agent after 1:00 p.m. in the Payment Account before noon (Chicago time) on any Business Day may date shall be deemed received by Administrative Agent on such date, and any payments received in the Payment Account after noon (in Agent's discretionChicago time) on any date shall be credited as if deemed received by Administrative Agent on the next succeeding Business Day. Any optional or mandatory prepayment of the Term Loan shall be accompanied by timely delivery to Agent of an appropriately completed Payment Notification, as provided in Section 2.3.6 hereof. In the absence of receipt by Administrative Agent of an appropriately completed Payment Notification on or at least two (2) Business Days prior to such prepayment, each Borrower and each Lender hereby fully authorizes authorize and directs direct Administrative Agent, notwithstanding any contrary application subject to the provisions contained hereinof Section 8.6 hereof, to apply payments and/or prepayments received from any Borrower such prepayment against the then outstanding Revolving Loans, and second, if no Revolving Loans are then outstanding, pro rata against all outstanding Term Loan Loans in accordance with the provisions of Section 2.3.5 hereof2.5; provided provided, that (i) if Administrative Agent receives an appropriately completed Payment Notification within two (2) Business Days after making any such payment, Administrative Agent may (and shall be fully authorized by Borrower and each Lender) to apply such amounts received in accordance with the terms of such Payment Notification and to make any corresponding Loan Account reversals in respect thereof and (ii) if Administrative Agent at any time determines that payments received by Administrative Agent were in respect of a mandatory prepayment event, Administrative Agent shall apply such payments in accordance with the provisions of Section 2.3.5 hereof2.5, and shall be fully authorized by each Borrower and each Lender to make any corresponding Register Loan Account reversals in respect thereof.