Common use of Method and Amount of Payment Clause in Contracts

Method and Amount of Payment. Rent and all other sums due to Lessor hereunder shall be paid to Agent, on behalf of Lessor (or, in the case of Supplemental Rent, to such Person as may be entitled thereto (if such Person is other than Lessor or Agent, payment may be made by wire transfer or such other form of payment as is acceptable to such Person)) in immediately available funds at the office of Agent specified in Schedule II hereto or at such other office of Agent as Agent may from time to time specify to Lessee in a notice pursuant to this Lease. Each payment of Rent shall be accompanied by written designation from Lessee as to the amount of such payment that is being made in respect of Series A Capital Rent, Series A Accrual Rent, Series B Capital Rent, Series B Accrual Rent, Series C Accrual Rent, Lessor’s Interest Related Accrual Rent or Supplemental Rent; provided that notwithstanding such written designation by Lessee, each payment of Rent or any other amounts received by Agent related to this Lease shall be applied in accordance with Section 21.1 hereof and Section 2.1 of the Lessor Assignment Agreement. Each payment of Rent shall be made by Lessee prior to 10:00 A.M. California time (and payments made after such time shall be deemed to have been made on the next day) at the place of payment in funds consisting of lawful currency of the United States of America which (in the case of any amount payable to Lessor or Agent or any other Indemnitee) shall be immediately available on the scheduled date when such payment shall be due unless the scheduled date shall not be a Business Day, in which case such payment shall be due and made on the next succeeding Business Day. If the result of the extension contemplated by the preceding sentence would be to carry payment of Rent into another calendar month, such payment of Rent shall be made on the immediately preceding Business Day.

Appears in 2 contracts

Samples: Lease and Security Agreement (Lsi Logic Corp), Lease and Security Agreement (Lsi Logic Corp)

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Method and Amount of Payment. Rent and all other sums due to Lessor hereunder shall be paid to Agent, on behalf of Lessor (or, in the case of Supplemental Rent, to such Person as may be entitled thereto (if such Person is other than Lessor or Agent, payment may be made by wire transfer or such other form of payment as is acceptable to such Person)) in immediately available funds at the office of Agent specified in Schedule II hereto or at such other office of Agent as Agent may from time to time specify to Lessee in a notice pursuant to this Lease. Each payment of Rent shall be accompanied by written designation from Lessee as LSI Logic Corporation Lease A to the amount of such payment that is being made in respect of Series A Capital Rent, Series A Accrual Rent, Series B Capital Rent, Series B Accrual Rent, Series C Accrual Rent, Lessor’s Interest Related Accrual Rent or Supplemental Rent; provided that notwithstanding such written designation by Lessee, each payment of Rent or any other amounts received by Agent related to this Lease shall be applied in accordance with Section 21.1 hereof and Section 2.1 of the Lessor Assignment Agreement. Each payment of Rent shall be made by Lessee prior to 10:00 A.M. California time (and payments made after such time shall be deemed to have been made on the next day) at the place of payment in funds consisting of lawful currency of the United States of America which (in the case of any amount payable to Lessor or Agent or any other Indemnitee) shall be immediately available on the scheduled date when such payment shall be due unless the scheduled date shall not be a Business Day, in which case such payment shall be due and made on the next succeeding Business Day. If the result of the extension contemplated by the preceding sentence would be to carry payment of Rent into another calendar month, such payment of Rent shall be made on the immediately preceding Business Day.

Appears in 1 contract

Samples: Lease and Security Agreement (Lsi Logic Corp)

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Method and Amount of Payment. Rent and all other sums due to Lessor hereunder shall be paid to Agent, on behalf of Lessor (or, in the case of Supplemental Rent, to such Person as may be entitled thereto (if such Person is other than Lessor or Agent, payment may be made by wire transfer or such other form of payment as is acceptable to such Person)) in immediately available funds at the office of Agent specified in Schedule II hereto or at such other office of Agent as Agent may from time to time specify to Lessee in a notice pursuant to this Lease. Each payment of Rent shall be accompanied by written designation from Lessee as LSI Logic Corporation Lease B to the amount of such payment that is being made in respect of Series A Capital Rent, Series A Accrual Rent, Series B Capital Rent, Series B Accrual Rent, Series C Accrual Rent, Lessor’s Interest Related Accrual Rent or Supplemental Rent; provided that notwithstanding such written designation by Lessee, each payment of Rent or any other amounts received by Agent related to this Lease shall be applied in accordance with Section 21.1 hereof and Section 2.1 of the Lessor Assignment Agreement. Each payment of Rent shall be made by Lessee prior to 10:00 A.M. California time (and payments made after such time shall be deemed to have been made on the next day) at the place of payment in funds consisting of lawful currency of the United States of America which (in the case of any amount payable to Lessor or Agent or any other Indemnitee) shall be immediately available on the scheduled date when such payment shall be due unless the scheduled date shall not be a Business Day, in which case such payment shall be due and made on the next succeeding Business Day. If the result of the extension contemplated by the preceding sentence would be to carry payment of Rent into another calendar month, such payment of Rent shall be made on the immediately preceding Business Day.

Appears in 1 contract

Samples: Lease and Security Agreement (Lsi Logic Corp)

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