Common use of Method of Payments; Computations Clause in Contracts

Method of Payments; Computations. (a) All payments by 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 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 Issuing Lender and the Lenders), at the Administrative Agent's office referred to in SECTION 11.5, prior to 1:00 p.m., Charlotte time, on the date payment is due. Any payment made as required hereinabove, but after 1:00 p.m., Charlotte 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 (except that in the case of LIBOR Loans to which the proviso of clause (iv) in SECTION 2.10 is 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 2 contracts

Samples: Pledge and Security Agreement (Petersen Companies Inc), Credit Agreement (Petersen Companies Inc)

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Method of Payments; Computations. (a) All payments by 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 (i) expressly provided herein as to payments required to be made directly to the Issuing Lender and the Lenders), Lenders and (ii) provided in the Sweep Program) at the Administrative Agent's its office referred to in SECTION Section 11.5, prior to 1:00 p.m.12:00 noon, Charlotte time, on the date payment is due. Any payment made as required hereinabove, but after 1:00 p.m.12:00 noon, Charlotte 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 (except that in the case of LIBOR Loans to which the proviso provisions of clause (iv) in SECTION Section 2.10 is 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 (Old Dominion Freight Line Inc/Va)

Method of Payments; Computations. (a) All payments by 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 Issuing Lender and the Lenders), ) at the Administrative Agent's its office referred to in SECTION 11.5, prior to 1:00 p.m., Charlotte time, on the date payment is due. Any payment made as required hereinabove, but after 1:00 p.m., Charlotte 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 (except that in the case of LIBOR Loans to which the proviso provisions of clause (iv) in SECTION 2.10 is 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 (Lason Inc)

Method of Payments; Computations. (a) All payments by the Borrower -------------------------------- Credit Parties hereunder shall be made without setoff, counterclaim or other defense, in Dollars (or, if expressly required hereunder, a Foreign Currency) and in immediately available funds to the Administrative Agent, for the account of the Lenders or the Swingline Lender, as the case may be entitled to such payment (except as otherwise expressly provided herein as to payments required to be made directly to the Issuing Lender and Lenders or to the Lenders), Swingline Lender) at the Administrative Agent's its office referred to in SECTION Section 11.5, prior to 1:00 2:00 p.m., Charlotte timeLocal Time, on the date payment is due. Any payment made as required hereinabove, but after 1:00 2:00 p.m., Charlotte timeLocal 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 (except that in the case of LIBOR Loans to which the proviso provisions of clause (iv) in SECTION Section 2.10 is 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 (Markel Corp)

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Method of Payments; Computations. (a) All payments by 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 (i) expressly provided herein as to payments required to be made directly to the Issuing Lender and the Lenders), Lenders and (ii) provided in the Sweep Program) at the Administrative Agent's its office referred to in SECTION Section 11.5, prior to 1:00 p.m.12:00 noon, Charlotte time, on the date payment is due. Any payment made as required hereinabove, but after 1:00 p.m.12:00 noon, Charlotte 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 (except that in the case of LIBOR Loans to which the proviso provisions of clause (iv) in SECTION Section 2.10 is are applicable, such due date shall be the next 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 (Old Dominion Freight Line Inc/Va)

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