Common use of Method and Time of Payments Clause in Contracts

Method and Time of Payments. (a) All payments by the Borrower hereunder shall be made without setoff or counterclaim to the Lender, for its account, in dollars and in immediately available funds to the account of the Lender theretofore designated in writing to the Borrower not later than 12:00 noon, New York time, on the date when due or, in the case of payments pursuant to Sections 4.3 and 4. 4 or payments otherwise specified as payable upon demand, forthwith upon written demand therefor. (b) Whenever any payment from the Borrower shall be due on a day that is not a Business Day, the date of payment thereof shall be extended to the next succeeding Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Method and Time of Payments. (a) All payments by the Borrower hereunder shall be made without setoff or counterclaim to the Lender, for its account, in dollars and in immediately available funds to the account of the Lender theretofore designated in writing to the Borrower not later than 12:00 noon, New York time, on the date when due or, in the case of payments pursuant to Sections 4.3 and 4. 4 4.4 or payments otherwise specified as payable upon demand, forthwith upon written demand therefor. (b) Whenever any payment from the Borrower shall be due on a day that is not a Business Day, the date of payment thereof shall be extended to the next succeeding Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Method and Time of Payments. (a) All payments by the Borrower hereunder shall be made without setoff or counterclaim to the Lender, for its account, in dollars and in immediately available funds to the account of the Lender theretofore designated in writing to the Borrower not later than 12:00 noon, New York time, on the date when due or, in the case of payments pursuant to Sections 4.3 4.03 and 4. 4 4.04 or payments otherwise specified as payable upon demand, forthwith upon written demand therefor. (b) Whenever any payment from the Borrower shall be due on a day that is not a Business Day, the date of payment thereof shall be extended to the next succeeding Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.