Common use of Making of Payments; Application of Collections; Charging of Accounts Clause in Contracts

Making of Payments; Application of Collections; Charging of Accounts. (a) All payments hereunder shall be made without set-off or counterclaim and shall be made to Lender in immediately available funds (except as Lender may otherwise consent) prior to 12:30 p.m., Chicago time, on the date due at its office at 000 Xxxxx XxXxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000, or at such other place as may be designated by Lender to Borrower in writing. Any payments received after such time shall be deemed received on the next Banking Day. Whenever any payment to be made hereunder or under any Note shall be stated to be due on a date other than a Banking Day, such payment shall be due on the next succeeding Banking Day, and such extension of time shall be included in the calculation of interest and any fees.

Appears in 2 contracts

Samples: Loan and Security Agreement (Elxsi Corp /De//), Loan and Security Agreement (Elxsi Corp /De//)

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Making of Payments; Application of Collections; Charging of Accounts. (a) All payments hereunder (including payment of Letter of Credit Obligations and payments with respect to any Note) shall be made without set-off or counterclaim and shall be made to Lender in immediately available funds (except as Lender may otherwise consent) prior to 12:30 p.m., Chicago time, on the date due at its office at 000 231 Xxxxx XxXxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000, or xx at such other place as may be designated by Lender to Borrower in writing. Any payments received after such time shall be deemed received on the next Banking Day. Whenever any payment to be made hereunder or under any Note shall be stated to be due on a date other than a Banking Day, such payment shall may be due made on the next succeeding Banking Day, and such extension of time shall be included in the calculation of interest and any fees.

Appears in 1 contract

Samples: Loan and Security Agreement (Rainbow Rentals Inc)

Making of Payments; Application of Collections; Charging of Accounts. (a) All payments hereunder shall be made without set-off or counterclaim and shall be made to Lender in immediately available funds (except as Lender may otherwise consent) prior to 12:30 p.m., Chicago time, on the date due at its office at 000 Xxxxx XxXxxxx Xxxxxx231 South LaSalle Street, XxxxxxxChicago, Xxxxxxxx 00000Illinois 60697, or at such other place as may be designated by Lender to Borrower sucx xxxxx xxxxx xx xxx xx xxxxxxxxxx xx Xxxxxx xx Xorrower in writing. Any payments received after such time shall be deemed received on the next Banking Business Day. Whenever any payment to be made hereunder or under any Note or Related Agreement shall be stated to be due on a date other than a Banking Business Day, such payment shall may be due made on the next succeeding Banking Business Day, and such extension of time shall be included in the calculation of interest and any fees.

Appears in 1 contract

Samples: Loan and Security Agreement (Elxsi Corp /De//)

Making of Payments; Application of Collections; Charging of Accounts. (a) All payments hereunder shall be made without set-off or counterclaim and shall be made to Lender in immediately available funds (except as Lender may otherwise consent) prior to 12:30 p.m., Chicago time, on the date due at its office at 000 Xxxxx XxXxxxx Xxxxxx231 South LaSalle Street, XxxxxxxChicago, Xxxxxxxx 00000Illinois 60697, or at such other place as may be designated by Lender to ax xxxx xxxxx xxxxx xx xxx xx xxxxxxxxxx xx Xxxxxx xx Borrower in writing. Any payments received after such time shall be deemed received on the next Banking Day. Whenever any payment to be made hereunder or under any Note shall be stated to be due on a date other than a Banking Day, such payment shall be due on the next succeeding Banking Day, and such extension of time shall be included in the calculation of interest and any fees.

Appears in 1 contract

Samples: Loan and Security Agreement (Elxsi Corp /De//)

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Making of Payments; Application of Collections; Charging of Accounts. (a) All payments hereunder shall be made without set-off or counterclaim and shall be made to Lender in immediately available funds (except as Lender may otherwise consent) prior to 12:30 p.m., Chicago time, on the date due at its office at 000 Xxxxx XxXxxxx Xxxxxx231 South LaSalle Street, XxxxxxxChicago, Xxxxxxxx 00000Illinois 60697, or at such other place as may be designated by Lender to suxx xxxxx xxxxx xx xxx xx xxxxxxxxxx xx Xxxxxx xx Borrower in writing. Any payments received after such time shall be deemed received on the next Banking Day. Whenever any payment to be made hereunder or under any Note shall be stated to be due on a date other than a Banking Day, such payment shall be due on the next succeeding Banking Day, and such extension of time shall be included in the calculation of interest and any fees.

Appears in 1 contract

Samples: Loan and Security Agreement (Elxsi Corp /De//)

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