Common use of Method of Making Payments Clause in Contracts

Method of Making Payments. (a) Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender not later than the close of business on the date when due unless such date is a non-Business Day, in which case, such payment shall be due on the first Business Day thereafter, and shall be made in lawful money of the United States of America in immediately available funds transferred via wire to accounts designated by the Lender from time to time. (b) After the occurrence and during the continuance of an Event of Default, and without the necessity of prior demand or notice from the Lender, the Company authorizes the Lender to cause the Funding Bank to charge the Company's Operating Account for any obligations due and owing the Lender.

Appears in 2 contracts

Samples: Warehousing Credit and Security Agreement (Mortgage Com Inc), Warehousing Credit and Security Agreement (Mortgage Com Inc)

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Method of Making Payments. (a) Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender not later than the close of business on the date when due unless such date is a non-non- Business Day, in which case, such payment shall be due on the first Business Day thereafter, and shall be made in lawful money of the United States of America in immediately available funds transferred via wire to accounts designated by the Lender from time to time. (b) After the occurrence and during the continuance of an Event of Default, and without the necessity of prior demand or notice from the Lender, the Company authorizes Borrowers authorize the Lender to cause the Funding Bank to charge the Company's Borrowers' Operating Account for any obligations Obligations due and owing the Lender.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (Novastar Financial Inc)

Method of Making Payments. (a) Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender not later than the close of business on the date when due unless such date is a non-Business Day, in which case, such payment shall be due on the first Business Day thereafter, and shall be made in lawful money of the United States of America in immediately available funds transferred via wire to accounts designated by the Lender in writing from time to time. (b) After the occurrence and during the continuance of an Event of Default, and without the necessity of prior demand or notice from the Lender, the Company authorizes Borrowers authorize the Lender to cause the Funding Bank to charge the Company's Borrowers' Operating Account for any obligations Obligations due and owing the Lender.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (American Business Financial Services Inc /De/)

Method of Making Payments. (a) Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender not later than the close of business on the date when due unless such date is a non-Business Day, in which case, such payment shall be due on the first Business Day thereafter, and shall be made in lawful money of the United States of America in immediately available funds transferred via wire to accounts designated by the Lender from time to time. (b) After the occurrence and during the continuance of an Event of Default, and without the necessity of prior demand or notice from the Lender, the Company authorizes Borrowers authorize the Lender to cause the Funding Bank to charge the Company's Borrowers' Operating Account for any obligations Obligations due and owing the Lender.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (BNC Mortgage Inc)

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Method of Making Payments. (a) Except as otherwise specifically provided herein, all payments hereunder shall be made to the Lender not later than the close of business on the date when due unless such date is a non-Business Day, in which case, such payment shall be due on the first Business Day thereafter, and shall be made in lawful money of the United States of America in immediately available funds transferred via wire to accounts designated by the Lender from time to time. (b) After the occurrence and during the continuance of an Event of Default, and without the necessity of prior demand or notice from the Lender, the Company authorizes the Lender to cause the Funding Bank to charge the Company's Operating Account for any obligations Obligations due and owing the Lender.

Appears in 1 contract

Samples: Warehousing Credit and Security Agreement (U S Home Corp /De/)

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