Common use of Method of Payments; Computations; Apportionment of Payments Clause in Contracts

Method of Payments; Computations; Apportionment of Payments. (a) All payments by any Borrower hereunder shall be made without setoff, counterclaim or other defense, in Dollars and in immediately available funds to the Administrative Agent, for the account of the Lenders entitled to such payment or the Swingline Lender, as the case may be (except as otherwise expressly provided herein as to payments required to be made directly to the Administrative Agent, the Issuing Banks or the Lenders), at the Payment Office prior to 2:00 p.m. on the date payment is due. Any payment made as required hereinabove, but after 2:00 p.m. shall be deemed to have been made on the next succeeding Business Day. If any payment falls due on a day that is not a Business Day, then such due date shall be extended to the next succeeding Business Day (subject in the case of SOFR Loans to the definition of “Interest Period”), and such extension of time shall then be included in the computation of payment of interest, fees or other applicable amounts.

Appears in 2 contracts

Samples: Credit Agreement (Unum Group), Credit Agreement (Unum Group)

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Method of Payments; Computations; Apportionment of Payments. (a) All payments by any the Borrower hereunder shall be made without setoff, counterclaim or other defense, in Dollars and in immediately available funds to the Administrative Agent, for the account of the Lenders entitled to such payment or the Swingline Lender, as the case may be (except as otherwise expressly provided herein as to payments required to be made directly to the Administrative Agent, the Issuing Banks or the Lenders), at the Payment Office prior to 2:00 p.m. 12:00 noon on the date payment is due. Any payment made as required hereinabove, but after 2:00 p.m. 12:00 noon shall be deemed to have been made on the next succeeding Business Day. If any payment falls due on a day that is not a Business Day, then such due date shall be extended to the next succeeding Business Day (subject except that in the case of SOFR LIBOR Loans to which the definition provisions of “Interest Period”Section 2.11(iv) are applicable, such due date shall be the immediately preceding Business Day), and such extension of time shall then be included in the computation of payment of interest, fees or other applicable amounts.

Appears in 1 contract

Samples: Credit Agreement (Unum Group)

Method of Payments; Computations; Apportionment of Payments. (a) All payments by any the Borrower hereunder shall be made without setoff, counterclaim or other defense, in Dollars and in immediately available funds to the Administrative Agent, for the account of the Lenders entitled to such payment or the Swingline Lender, as the case may be Administrative Agent (except as otherwise expressly provided herein as to payments required to be made directly to the Administrative Agent, the Issuing Banks or the Lenders), ) at the its Payment Office prior to 2:00 p.m. 1:00 p.m., Local Time, on the date payment is due. Any payment made as required hereinabove, but after 2:00 p.m. 1:00 p.m., Local Time, shall be deemed to have been made on the next succeeding Business Day. If any payment falls due on a day that is not a Business Day, then such due date shall be extended to the next succeeding Business Day (subject except that in the case of SOFR LIBOR Loans to which the definition provisions of “Interest Period”Section 2.11(iv) are applicable, such due date shall be the next preceding Business Day), and such extension of time shall then be included in the computation of payment of interest, fees or other applicable amounts.

Appears in 1 contract

Samples: Credit Agreement (Intercontinentalexchange Inc)

Method of Payments; Computations; Apportionment of Payments. (a) All payments by any Borrower the Borrowers hereunder shall be made without setoff, counterclaim or other defense, in Dollars and in immediately available funds to the Administrative Agent, for the account of the Lenders entitled to such payment or the Swingline Lender, as the case may be (except as otherwise expressly provided herein as to payments required to be made directly to the Administrative Agent, the any Issuing Banks Lender or the Lenders), at ) in accordance with the Payment Office Instructions prior to 2:00 p.m. 12:00 noon on the date payment is due. Any payment made as required hereinabove, but after 2:00 p.m. 12:00 noon shall be deemed to have been made on the next succeeding Business Day. If any payment falls due on a day that is not a Business Day, then such due date shall be extended to the next succeeding Business Day (subject except that in the case of SOFR LIBOR Loans to which the definition provisions of “Interest Period”Section 2.2(c)(iii) are applicable, such due date shall be the next preceding Business Day), and such extension of time shall then be included in the computation of payment of interest, fees or other applicable amounts.

Appears in 1 contract

Samples: Credit Agreement (Manning & Napier, Inc.)

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Method of Payments; Computations; Apportionment of Payments. (a) All payments by any Borrower the Credit Parties hereunder (whether of principal, interest, fees, or under Sections 2.15, 2.16 or 2.17, or otherwise) shall be made without setoff, counterclaim or other defense, in Dollars and in immediately available funds to the Administrative Agent, for the account of the Lenders entitled to such payment or the Swingline Lender, as the case may be (except as otherwise expressly provided herein as to payments required to be made directly to the Administrative Agent, the Issuing Banks Agent or the Lenders), ) at the Payment Office Office, prior to 2:00 p.m. on the date payment is due. Any payment made as required hereinabove, but after 2:00 p.m. p.m., shall be deemed to have been made on the next succeeding Business Day. If any payment falls due on a day that is not a Business Day, then such due date shall be extended to the next succeeding Business Day (subject except that in the case of SOFR LIBOR Loans to which the provisions of clause (iv) in the definition of “Interest Period” are applicable, such due date shall be the next preceding Business Day), and such extension of time shall then be included in the computation of payment of interest, fees or other applicable amounts.

Appears in 1 contract

Samples: Credit Agreement (Allied World Assurance Co Holdings, AG)

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