Common use of Manner of Making Payments Clause in Contracts

Manner of Making Payments. (a) For so long as FFB is the Holder of this Note, unless as shall be specified by FFB in a written notice to the Borrower and the Administrator, each payment under this Note shall be paid in immediately available funds by electronic funds transfer to the account of the United States Treasury (for credit to the subaccount of the Administrator) maintained at the Federal Reserve Bank of New York in the manner described below: provided, however, that a payment made in the manner described above shall not discharge any portion of a payment obligation under this Note, or be applied as provided in paragraph 13 of this Note, until the payment has been received and credited to the subaccount of FFB (within the account of the United States Treasury maintained at the Federal Reserve Bank of New York) specified by FFB in a written notice to the Administrator, or to such other account as may be specified from time to time by FFB in a written notice to the Administrator. (b) In the event that FFB is not the Holder of this Note, then each payment under this Note shall be made in immediately available funds by electronic funds transfer to such account as shall be specified by the Holder in a written notice to the Borrower.

Manner of Making Payments. (a) For so long as FFB is the Holder of this Note, unless as shall be specified by FFB in a written notice to the Borrower and the Administrator, each payment under this Note (except for accrued interest on each Advance made before the First Interest Payment Date that is subject to capitalization as provided in paragraph 7(b) of this Note) shall be paid in immediately available funds by electronic funds transfer to the account of the United States Treasury (for credit to the subaccount of the AdministratorSecretary) maintained at the Federal Reserve Bank of New York in the manner described below: provided, however, that a payment made in the manner described above shall not discharge any portion of a payment obligation under this Note, or be applied as provided in paragraph 13 of this Note, until the payment has been received and credited to the subaccount of FFB (within the account of the United States Treasury maintained at the Federal Reserve Bank of New York) specified by FFB in a written notice to the AdministratorSecretary, or to such other account as may be specified from time to time by FFB in a written notice to the AdministratorSecretary. (b) In the event that FFB is not the Holder of this Note, then each payment under this Note shall be made in immediately available funds by electronic funds transfer to such account as shall be specified by the Holder in a written notice to the Borrower.

Manner of Making Payments. (a) For so long as FFB is the Holder of this Note, unless as shall be specified by FFB in a written notice to the Borrower and the Administrator, each payment under this Note shall be paid in immediately available funds by electronic funds transfer to the account of the United States Treasury (for credit to the subaccount of the AdministratorSecretary) maintained at the Federal Reserve Bank of New York in the manner described below: U.S. Treasury Department ABA No. 0000-0000-0 TREAS NYC/CTR/BNF=D 89000001 OBI=Dept of Energy Loan # (Solyndra Fab 2 LLC) provided, however, that a payment made in the manner described above shall not discharge any portion of a payment obligation under this Note, or be applied as provided in paragraph 13 14 of this Note, until the payment has been received and credited to the subaccount of FFB (within the account of the United States Treasury maintained at the Federal Reserve Bank of New York) specified by FFB in a written notice to the AdministratorSecretary, or to such other account as may be specified from time to time by FFB in a written notice to the AdministratorSecretary. (b) In the event that FFB is not the Holder of this Note, then each payment under this Note shall be made in immediately available funds by electronic funds transfer to such account as shall be specified by the Holder in a written notice to the Borrower.