Common use of Interest Rates; Payment of Principal and Interest Clause in Contracts

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment due hereunder by making, or causing to be made, the amount thereof available to Agent’s Account in Los Angeles, California, not later than noon Pacific Time, on the date of payment. In lieu thereof, Borrower hereby authorizes Agent to, and Agent shall, charge such interest, the Letter of Credit Fee, and all other fees and expenses provided for in this Agreement or the other Loan Documents (as and when accrued or incurred), to Borrower’s Loan Account, which amounts thereafter shall accrue interest at the rate then applicable to Base Rate Loans hereunder.

Interest Rates; Payment of Principal and Interest. (a) Borrower shall make each payment due hereunder by making, or causing to be made, the amount thereof available to AgentLender’s Account account maintained with Lender in Los Angeles, California, not later than noon Pacific Time, on the date of payment. In lieu thereof, Borrower hereby authorizes Agent Lender to, and Agent Lender shall, charge such interest, the Letter of Credit Fee, and all other fees and expenses provided for in this Agreement or the other Loan Documents (as and when accrued or incurred), to Borrower’s Loan Account, which amounts thereafter shall accrue interest at the rate then applicable to Base Rate Loans hereunder.