Common use of Method of Payments Pro Rata Treatment Clause in Contracts

Method of Payments Pro Rata Treatment. (a) The Borrower shall make each payment hereunder and under the Notes delivered hereunder not later than 2:00 p.m., New York time, on the day when due in lawful money of the United States (in freely transferable Dollars) to the Agent for the account of the Banks entitled thereto at the Agent's address referred to in SECTION 11.3 in immediately available funds and any funds received by the Agent after such time shall, for all purposes hereof (including the following sentence), be deemed to have been paid on the next succeeding Business Day. Except as otherwise specifically provided herein, the Agent shall thereafter cause to be distributed on the date of receipt thereof to each Bank in like funds its Commitment Percentage (or, if the Loan of such Bank with respect to which such payment is being made is not of the same Type as the Loans of the other Banks with respect to which such payment is being made, such Bank's appropriate share) of the payments so received for the account of such Bank's Lending Office for such Loans in respect of which such payment is made. (b) Except as otherwise provided herein, (i) each Borrowing hereunder shall be obtained from the Banks, each payment of fees shall be paid for the account of the Banks and each partial reduction of the Total Commitment under SECTION 2.6 shall be applied to the Commitments of the Banks, in each case simultaneously and PRO RATA in accordance with each Bank's Commitment Percentage, (ii) each conversion of a Borrowing comprised of Loans of a particular Type shall be made PRO RATA among the Banks according to their respective Commitment Percentage of such Borrowing and (iii) each payment and prepayment of principal of or interest on any Loans will be made to the Agent for the account of each of the Banks simultaneously and PRO RATA in accordance with their respective Commitment Percentage of unpaid principal amounts of such Loans made by the Banks. (c) Whenever any payment hereunder or under the Notes (including principal of or interest on any Loan or any fees or other amounts), shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest, fee or other amount, as the case may be; PROVIDED, HOWEVER, if such extension would cause payment of interest on or principal of a Eurodollar Loan to be made in the next following calendar month, such payment shall be made on the next preceding Business Day. When the Agent collects or receives money on account of the Obligations, the Banks may apply such money as they elect to the various Obligations then due and payable.

Method of Payments Pro Rata Treatment. (a) The Borrower shall make each payment of principal, interest, Letter of Credit Liabilities and other amounts to be made by Borrower hereunder and under the any Notes delivered hereunder not later than 2:00 1:00 p.m., New York Dallas, Texas time, on the day when due in lawful money of the United States (in freely transferable Dollars) to the Administrative Agent for the account of the Banks Lenders entitled thereto at the Administrative Agent's address referred to in SECTION 11.3 Section 9.02 in immediately available funds and without setoff, deduction or counterclaim, and any funds received by the Administrative Agent after such time shall, for all purposes hereof (including the following sentence), be deemed to have been paid on the next succeeding Business Day. Except as otherwise specifically provided herein, the Administrative Agent shall thereafter cause to be distributed on the date of receipt thereof to each Bank Lender in like funds its Commitment Sharing Percentage (or, if the Loan of such Bank Lender with respect to which such payment is being made is not of the same Type as the Loans of the other Banks Lenders with respect to which such payment is being made, such BankLender's appropriate share) of the payments so received for the account of such BankLender's Lending Office for such Loans the Loan or other Obligation in respect of which such payment is made. (b) Except as otherwise provided herein, (i) each Borrowing hereunder shall be obtained from the BanksLenders, each payment of fees shall be paid for the account of the Banks Lenders and each partial reduction of the Total Commitment under SECTION 2.6 Section 2.11 shall be applied to the Commitments of the BanksLenders, in each case simultaneously and PRO RATA pro rata in accordance with each BankLender's Commitment Percentage, (ii) each conversion of a Borrowing comprised of Loans of a particular Type shall be made PRO RATA pro rata among the Banks Lenders according to their respective Commitment Percentage of such Borrowing and (iii) each payment and prepayment of principal of or interest on any Loans or Letter of Credit Liabilities will be made to the Administrative Agent for the account of each of the Banks Lenders simultaneously and PRO RATA pro rata in accordance with their respective Commitment Sharing Percentage of unpaid principal amounts of such Loans made by the Banksor Letter of Credit Liabilities. (c) Whenever any payment hereunder or under the any Notes (including principal of or interest on any Loan or Letter of Credit Liability or any fees or other amounts), shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest, fee or other amount, as the case may be; PROVIDED, HOWEVERprovided that, if such extension would cause payment of interest on or principal of a Eurodollar Rate Loan to be made in the next following calendar month, such payment shall be made on the next preceding Business Day. When the Agent collects or receives money on account of the Obligations, the Banks may apply such money as they elect to the various Obligations then due and payable.

Method of Payments Pro Rata Treatment. (a) The Borrower shall make each payment hereunder and under the Notes delivered hereunder not later than 2:00 1:00 p.m., New York, New York time, on the day when due in lawful money of the United States (in freely transferable Dollars) to the Agent for the account of the Banks entitled thereto at the Agent's address referred to in SECTION 11.3 Section 10.2 in immediately available funds and any funds received by the Agent after such time shall, for all purposes hereof (including the following sentence), be deemed to have been paid on the next succeeding Business Day. Except as otherwise specifically provided herein, the Agent shall thereafter cause to be distributed on the date of receipt thereof to each Bank in like funds its Commitment Percentage (or, if the Loan of such Bank with respect to which such payment is being made is not of the same Type as the Loans of the other Banks with respect to which such payment is being made, such Bank's appropriate share) of the payments so received for the account of such Bank's Lending Office for such Loans the Loan in respect of which such payment is made. (b) Except as otherwise provided herein, (i) each Borrowing comprised of Loans hereunder shall be obtained from the Banks, each payment of fees shall be paid for the account of the Banks and each partial reduction of the Total Commitment under SECTION 2.6 Section 2.9 shall be applied to the Commitments of the Banks, in each case simultaneously and PRO RATA pro rata in accordance with each Bank's Commitment Percentage, (ii) each conversion of a Borrowing comprised of Loans of a particular Type type shall be made PRO RATA pro rata among the Banks according to their respective Commitment Percentage of such Borrowing and (iii) each payment and prepayment of principal of or interest on any Loans will be made to the Agent for the account of each of the Banks simultaneously and PRO RATA pro rata in accordance with their respective Commitment Percentage of unpaid principal amounts of such Loans made by the Banks. (c) Whenever any payment hereunder or under the Notes (including principal of or interest on any Loan or any fees or other amounts), shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest, fee or other amount, as the case may be; PROVIDEDprovided, HOWEVERhowever, if such extension would cause payment of interest on or principal of a Eurodollar Loan to be made in the next following calendar month, such payment shall be made on the next preceding Business Day. When the Agent collects or receives money on account of the Obligations, the Banks may apply such money as they elect to the various Obligations then due and payable.

Method of Payments Pro Rata Treatment. (a) The the Borrower shall make each payment hereunder and under the Notes delivered hereunder not later than 2:00 1:00 p.m., New York Houston, Texas time, on the day when due in lawful money of the United States (in freely transferable Dollars) to the Agent for the account of the Banks entitled thereto at the Agent's address referred to in SECTION 11.3 Section 10.2 in immediately available funds and any funds received by the Agent after such time shall, for all purposes hereof (including the following sentence), be deemed to have been paid on the next succeeding Business Day. Except as otherwise specifically provided herein, the Agent shall thereafter cause to be distributed on the date of receipt thereof to each Bank in like funds its Commitment Percentage (or, if the Loan of such Bank with respect to which such payment is being made is not of the same Type as the Loans of the other Banks with respect to which such payment is being made, such Bank's appropriate share) of the payments so received for the account of such Bank's Lending Office for such Loans in respect of which such payment is made., (b) Except as otherwise provided herein, (i) each Borrowing comprised of Revolving Credit Loans hereunder shall be obtained from the Banks, each payment of fees shall be paid for the account of the Banks and each partial reduction of the Total Commitment under SECTION 2.6 Section 2.9 shall be applied to the Commitments of the Banks, in each case simultaneously and PRO RATA pro rata in accordance with each Bank's Commitment Percentage, (ii) each conversion of a Borrowing comprised of Revolving Credit Loans of a particular Type type shall be made PRO RATA pro rata among the Banks according to their respective Commitment Percentage of such Borrowing and (iii) each payment and prepayment of principal of or interest on any Revolving Credit Loans will be made to the Agent for the account of each of the Banks simultaneously and PRO RATA pro rata in accordance with their respective Commitment Percentage of unpaid principal amounts of such Revolving Credit Loans made by the Banks. (c) Whenever any payment hereunder or under the Notes (including principal of or interest on any Revolving Credit Loan or any fees or other amounts), shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest, fee or other amount, as the case may be; PROVIDEDprovided, HOWEVERhowever, if such extension would cause payment of interest on or principal of a Eurodollar Loan to be made in the next following calendar month, such payment shall be made on the next preceding Business Day. When the Agent collects or receives money on account of the Obligations, the Banks may apply such money as they elect to the various Obligations then due and payable.

Method of Payments Pro Rata Treatment. (a) The Borrower shall ------------------------------------- make each payment of principal, interest, Letter of Credit Liabilities and other amounts to be made by the Borrower hereunder and under the Notes delivered hereunder not later than 2:00 1:00 p.m., New York Houston, Texas time, on the day when due in lawful money of the United States (in freely transferable Dollars) to the Agent for the account of the Banks entitled thereto at the Agent's address referred to in SECTION 11.3 Section 9.02 in immediately available funds and any funds received by the ------------ Agent after such time shall, for all purposes hereof (including the following sentence), be deemed to have been paid on the next succeeding Business Day. Except as otherwise specifically provided herein, the Agent shall thereafter cause to be distributed on the date of receipt thereof to each Bank in like funds its Commitment Sharing Percentage (or, if the Loan of such Bank with respect to which such payment is being made is not of the same Type as the Loans of the other Banks with respect to which such payment is being made, such Bank's appropriate share) of the payments so received for the account of such Bank's Lending Office for such Loans the Loan in respect of which such payment is made. (b) Except as otherwise provided herein, (i) each Borrowing (other than Competitive Loans) hereunder shall be obtained from the Banks, each payment of fees shall be paid for the account of the Banks and each partial reduction of the Total Commitment under SECTION 2.6 Section 2.12 shall be applied to the Commitments of ------------ the Banks, in each case simultaneously and PRO RATA pro rata in accordance with each --- ---- Bank's Commitment Sharing Percentage, (ii) each conversion of a Borrowing comprised of Loans (other than Competitive Loans) of a particular Type type shall be made PRO RATA pro rata among the Banks according to their respective Commitment Sharing Percentage of such Borrowing and (iii) each payment and prepayment of principal of or interest on any Loans or Letter of Credit Liabilities will be made to the Agent for the account of each of the Banks simultaneously and PRO RATA pro rata in accordance with --- ---- their respective Commitment Sharing Percentage of unpaid principal amounts of such Loans made by the BanksBanks (provided, however, that the foregoing shall not apply to ----------------- payments of Competitive Loans made prior to the termination of the Commitments following the occurrence of an Event of Default). (c) Whenever any payment hereunder or under the Notes (including principal of or interest on any Loan or any fees or other amounts), shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest, fee or other amount, as the case may be; PROVIDEDprovided, HOWEVERhowever, if such extension would cause payment of -------- ------- interest on or principal of a Eurodollar Competitive Loan or a LIBOR Rate Loan to be made in the next following calendar month, such payment shall be made on the next preceding Business Day. When the Agent collects or receives money on account of the Obligations, the Banks may apply such money as they elect to the various Obligations then due and payable.

Method of Payments Pro Rata Treatment. (a) The the Borrower shall make each payment hereunder and under the Notes delivered hereunder not later than 2:00 1:00 p.m., New York Houston, Texas time, on the day when due in lawful money of the United States (in freely transferable Dollars) to the Agent for the account of the Banks entitled thereto at the Agent's address referred to in SECTION 11.3 Section 10.2 in immediately available funds and any funds received by the Agent after such time shall, for all purposes hereof (including the following sentence), be deemed to have been paid on the next succeeding Business Day. Except as otherwise specifically provided herein, the Agent shall thereafter cause to be distributed on the date of receipt thereof to each Bank in like funds its Commitment Percentage (or, if the Revolving Credit Loan of such Bank with respect to which such payment is being made is not of the same Type as the Revolving Credit Loans of the other Banks with respect to which such payment is being made, such Bank's appropriate share) of the payments so received for the account of such Bank's Lending Office for such Loans the Revolving Credit Loan in respect of which such payment is made. (b) Except as otherwise provided herein, (i) each Borrowing comprised of Revolving Credit Loans hereunder shall be obtained from the Banks, each payment of fees shall be paid for the account of the Banks and each partial reduction of the Total Commitment under SECTION 2.6 Section 2.9 shall be applied to the Commitments of the Banks, in each case simultaneously and PRO RATA pro rata in accordance with each Bank's Commitment Percentage, (ii) each conversion of a Borrowing comprised of Revolving Credit Loans of a particular Type type shall be made PRO RATA pro rata among the Banks according to their respective Commitment Percentage of such Borrowing and (iii) each payment and prepayment of principal of or interest on any Revolving Credit Loans will be made to the Agent for the account of each of the Banks simultaneously and PRO RATA pro rata in accordance with their respective Commitment Percentage of unpaid principal amounts of such Revolving Credit Loans made by the Banks. (c) Whenever any payment hereunder or under the Notes (including principal of or interest on any Revolving Credit Loan or any fees or other amounts), shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest, fee or other amount, as the case may be; PROVIDEDprovided, HOWEVERhowever, if such extension would cause payment of interest on or principal of a Eurodollar Loan to be made in the next following calendar month, such payment shall be made on the next preceding Business Day. When the Agent collects or receives money on account of the Obligations, the Banks may apply such money as they elect to the various Obligations then due and payable.