Common use of Nature and Place of Payments Clause in Contracts

Nature and Place of Payments. All payments made on account of the Obligations shall be made by the Company to the Agent for the account of the Lenders or the L/C Issuing Bank, as applicable, without setoff or counterclaim, in Dollars in immediately available same day funds, free and clear of and without deduction for any taxes, fees or other charges of any nature whatsoever imposed by any taxing authority and must be received by the Agent by 2:00 p.m. (Los Angeles time) on the day of payment, it being expressly agreed and understood that if a payment is received after 2:00 p.m. (Los Angeles time) by the Agent, such payment will be considered to have been made by the Company on the next succeeding Business Day and interest thereon shall be payable by the Company at the then applicable rate during such extension. All payments on account of the Obligations shall be made to the Agent through its Contact Office. If any payment required to be made by the Company hereunder becomes due and payable on a day other than a Business Day, the due date thereof shall be extended to the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. The Agent is hereby irrevocably authorized by the Company to debit the general operating account of the Company, if any, maintained with the Agent for the full amount of monthly and periodic interest xxxxxxxx, fees and other Obligations payable hereunder; provided, however, that the failure of the Agent to so debit such account shall not in any manner or to any extent affect the obligation of the Company to pay such Obligations as provided herein and in the other Loan Documents.

Appears in 3 contracts

Samples: Credit Agreement (Osi Systems Inc), Credit Agreement (Osi Systems Inc), Credit Agreement (Osi Systems Inc)

AutoNDA by SimpleDocs

Nature and Place of Payments. All payments made on account of the Obligations shall be made by the Company to the Agent for the account of the Lenders or the L/C Issuing Bank, as applicable, Lender without setoff or counterclaim, in Dollars lawful money of the United States of America in immediately available same day funds, free and clear of and without deduction for any taxes, fees or other charges of any nature whatsoever imposed by any taxing authority and must be received by the Agent Lender by 2:00 2:30 p.m. (Los Angeles time) on the day of payment, it being expressly agreed and understood that if a payment is received after 2:00 p.m. (Los Angeles time) the applicable deadline by the AgentLender, such payment will be considered to have been made by the Company on the next succeeding Business Day and interest thereon shall be payable by the Company at the then applicable rate during such extension. All payments on account of the Obligations shall be made to the Agent Lender through its the Contact Office. If any payment required to be made by the Company hereunder becomes due and payable on a day other than a Business Day, the due date thereof shall be extended to the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. The Agent Lender is hereby irrevocably authorized by the Company Company, without prior notice to debit the general operating account of the Company, if anybut is not obligated, to debit any general operating accounts of the Company maintained with the Agent Lender for the full amount of monthly and periodic interest xxxxxxxx, fees and other Obligations payable hereunderhereunder which the Lender is authorized to collect; provided, however, that the failure of the Agent Lender to so debit such account accounts shall not in any manner or to any extent affect the obligation of the Company to pay such Obligations as provided herein and in the other Loan Documents.

Appears in 2 contracts

Samples: Credit Agreement (Diedrich Coffee Inc), Credit Agreement (Diedrich Coffee Inc)

Nature and Place of Payments. All payments made on account of the Obligations shall be made by the Company to the Agent for the account of the Lenders or the L/C Issuing Bank, as applicable, without setoff or counterclaim, in Dollars lawful money of the United States of America in immediately available same day funds, free and clear of and without deduction for any taxes, fees or other charges of any nature whatsoever imposed by any taxing authority and must be received by the Agent by 2:00 p.m. (Los Angeles time) on the day of payment, it being expressly agreed and understood that if a payment is received after 2:00 p.m. (Los Angeles time) by the Agent, such payment will be considered to have been made by the Company on the next succeeding Business Day and interest thereon shall be payable by the Company at the then applicable rate during such extension. All payments on account of the Obligations shall be made to the Agent through its Contact Office. If any payment required to be made by the Company hereunder becomes due and payable on a day other than a Business Day, the due date thereof shall be extended to the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. The Agent is hereby irrevocably authorized by the Company to debit the general operating account of the Company, if any, maintained with the Agent for the full amount of monthly and periodic interest xxxxxxxx, fees and other Obligations payable hereunder; provided, however, that the failure of the Agent to so debit such account shall not in any manner or to any extent affect the obligation of the Company to pay such Obligations as provided herein and in the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Osi Systems Inc)

Nature and Place of Payments. All payments made on account of the ---------------------------- Obligations shall be made by the Company to the Agent for the account of the Lenders Banks or the L/C Issuing BankAgent or the Security Agent, as applicable, without setoff or counterclaim, in Dollars lawful money of the United States of America in immediately available same day funds, free and clear of and without deduction for any taxes, fees or other charges of any nature whatsoever imposed by any taxing authority and must be received by the Agent by 2:00 p.m. 10:00 a.m. (Los Angeles time) on the day of payment, it being expressly agreed and understood that if a payment is received after 2:00 p.m. 10:00 a.m. (Los Angeles time) by the Agent, such payment will be considered to have been made by the Company on the next succeeding Business Day and interest thereon shall be payable by the Company at the then applicable rate during such extension. All payments on account of the Obligations shall be made to the Agent through its Contact OfficeOffice . If any payment required to be made by the Company hereunder becomes due and payable on a day other than a Business Day, the due date thereof shall be extended to the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. The Agent is hereby irrevocably authorized by the Company, upon prior notice to the Company (which notice may be telephonic), to debit the general operating account of the Company, if any, maintained with the Agent for the full amount of monthly and periodic interest xxxxxxxx, fees and other Obligations payable hereunder; provided, however, that the failure of the Agent to so debit such account shall not in any manner or to any extent affect the obligation of the Company to pay such Obligations as provided herein and in the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Chart House Enterprises Inc)

Nature and Place of Payments. All payments made on account of the Obligations shall be made by the Company Borrower to the Administrative Agent for the account of the Lenders or the L/C Issuing BankAdministrative Agent, as applicableapplicable or, in the case of Swing Line Loans, to the Swing Line Lender, all without setoff or counterclaim, in Dollars lawful money of the United States of America in immediately available same day funds, free and clear of and without deduction for any taxes, fees or other charges of any nature whatsoever imposed by any taxing authority and must be received by the Administrative Agent by 11:00 a.m. (Pacific Time) (or in the case of Swing Line Loans, 2:00 p.m. (Los Angeles timePacific Time)) on the day of payment, payment (it being expressly agreed and understood that if a payment is received after 11:00 a.m. (Pacific Time) (2:00 p.m. (Los Angeles timePacific Time)) by the AgentAdministrative Agent or Swing Line Lender, respectively, such payment will be considered to have been made by the Company Borrower on the next succeeding Business Day and interest thereon shall be payable by the Company Borrower at the then applicable rate during such extension). All such payments on account of the Obligations shall be made to the Administrative Agent through its Contact Office. If any payment required to be made Office (or, in the case of a Swing Line Loan, as directed by the Company hereunder becomes due Swing Line Lender), and payable the Administrative Agent will promptly distribute to each Lender its Percentage Share of a payment on a day Term Loans (or other than a Business Day, the due date thereof applicable share as provided herein) of such payment in like funds as received to such office as such Lender shall be extended have designated to the next succeeding Business Day and interest thereon shall be payable at Administrative Agent in an Administrative Questionnaire or otherwise notified to the then applicable rate during such extension. The Agent is hereby irrevocably authorized by the Company to debit the general operating account of the Company, if any, maintained with the Agent for the full amount of monthly and periodic interest xxxxxxxx, fees and other Obligations payable hereunder; provided, however, that the failure of the Agent to so debit such account shall not in any manner or to any extent affect the obligation of the Company to pay such Obligations as provided herein and in the other Loan DocumentsAdministrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Vintage Wine Trust Inc)

Nature and Place of Payments. All payments made on account of the ---------------------------- Obligations shall be made by the Company to the Agent for the account of the Lenders or the L/C Issuing Bank, as applicableCompany, without setoff or counterclaim, in Dollars lawful money of the United States of America in immediately available same day funds, free and clear of and without deduction for any taxes, fees or other charges of any nature whatsoever imposed by any taxing authority and must be received by the Agent by 2:00 p.m. 12:00 noon (Los Angeles time) on the day of payment, it being expressly agreed and understood that if a payment is received after 2:00 p.m. 12:00 noon (Los Angeles time) by the Agent, such payment will be considered to have been made by the Company on the next succeeding Business Day and interest thereon shall be payable by the Company at the then applicable rate Reference Rate during such extension. All payments on account of the Obligations shall be made to the Agent through its Contact Office. If any payment required to be made by the Company hereunder becomes due and payable on a day other than a Business Day, the due date thereof shall be extended to the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. The Agent is hereby irrevocably authorized by the Company Company, without prior notice to the Company, to debit the general operating account of the Company, if any, Company maintained with the Agent Sanwa for the full amount of monthly and periodic interest xxxxxxxx, fees and other Obligations payable hereunder; provided, however, that the failure of the Agent to so debit such account shall not in any manner or to any extent affect the obligation of the Company to pay such Obligations as provided herein and in the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Franchise Mortgage Acceptance Co)

Nature and Place of Payments. All payments made on account of the Obligations shall be made by the Company Borrower to the Administrative Agent for the account of the Lenders or the L/C Issuing BankAdministrative Agent, as applicable, without setoff or counterclaim, in Dollars lawful money of the United States of America in immediately available same day funds, free and clear of and without deduction for any taxes, fees or other charges of any nature whatsoever imposed by any taxing authority and must be received by the Administrative Agent by 2:00 p.m. 12:00 noon (Los Angeles Pacific time) on the day of payment, it being expressly agreed and understood that if a payment is received after 2:00 p.m. 12:00 noon (Los Angeles Pacific time) by the Administrative Agent, such payment will be considered to have been made by the Company Borrower on the next succeeding Business Day and interest thereon shall be payable by the Company Borrower at the then applicable rate during such extension. All such payments on account of the Obligations shall be made (and such Directions for Payment shall be delivered) to the Administrative Agent through its Contact Office, and payments shall be applied in accordance with the directions of the Borrower (unless a Potential Default or Event of Default has occurred and is continuing). If any payment required to be made by the Company Borrower hereunder becomes due and payable on a day other than a Business Day, the due date thereof shall be extended to the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. The Agent is hereby irrevocably authorized by the Company to debit the general operating account of the Company, if any, maintained with the Agent for the full amount of monthly and periodic interest xxxxxxxx, fees and other Obligations payable hereunder; provided, however, that the failure of the Agent to so debit such account shall not in any manner or to any extent affect the obligation of the Company to pay such Obligations as provided herein and in the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (American Vanguard Corp)

AutoNDA by SimpleDocs

Nature and Place of Payments. All payments made on account ---------------------------- of the Obligations shall be made by the Company to the Agent for the account of the Lenders or the Bond L/C Issuing Bank, the Standard L/C Issuing Bank, the Lenders or the Agent, as applicable, without setoff or counterclaim, in Dollars lawful money of the United States of America in immediately available same day funds, free and clear of and without deduction for any taxes, fees or other charges of any nature whatsoever imposed by any taxing authority and must be received by the Agent by 2:00 p.m. 10:00 a.m. (Los Angeles time) on the day of payment, it being expressly agreed and understood that if a payment is received after 2:00 p.m. 10:00 a.m. (Los Angeles time) by the Agent, such payment will be considered to have been made by the Company on the next succeeding Business Day and interest thereon shall be payable by the Company at the then applicable rate during such extension. All payments on account of the Obligations shall be made to the Agent through its Contact Office. If any payment required to be made by the Company hereunder becomes due and payable on a day other than a Business Day, the due date thereof shall be extended to the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. The Agent is hereby irrevocably authorized by the Company, upon prior notice to the Company (which notice may be telephonic), to debit the general operating account of the Company, if any, maintained with the Agent for the full amount of monthly and periodic interest xxxxxxxx, fees and other Obligations payable hereunder; provided, however, that the failure of the Agent to so debit such account shall not in any manner or to any extent affect the obligation of the Company to pay such Obligations as provided herein and in the other Loan Documents.

Appears in 1 contract

Samples: Credit and Reimbursement Agreement (Atg Inc)

Nature and Place of Payments. All payments made on account ---------------------------- of the Obligations (other than amounts required to be paid to the Lenders pursuant to Paragraph 1(g) above and their respective Buy-Down Letters with the Company) shall be made to the Administrative Agent for prompt distribution to the Lenders. All payments made on account of the Obligations shall be made by the Company to the Agent for the account of the Lenders or the L/C Issuing Bank, as applicable, without setoff or counterclaim, counterclaim in Dollars lawful money of the United States of America in immediately available same day funds, free and clear of and without deduction for any taxes, fees or other charges of any nature whatsoever imposed by any taxing authority and must be received by the Administrative Agent by 2:00 p.m. 10:00 a.m. (Los Angeles time) on the day date of payment, it being expressly agreed and understood that if a payment is received after 2:00 p.m. 10:00 a.m. (Los Angeles time) by the Administrative Agent, such payment will be considered to have been made by the Company on the next succeeding Business Day and interest thereon shall be payable by the Company at the then applicable rate during such extension. All payments on account of the Obligations shall be made to the Administrative Agent through its Contact Officeoffice located at Xxx Xxxxx Xxxxxxxx Xxxxx, Xxxxxxx, Xxxxxxxx 00000. If any payment required to be made by the Company hereunder becomes due and payable on a day other than a Business Day, the due date thereof shall be extended to the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. The Agent is hereby irrevocably authorized by the Company to debit the general operating account of the Company, if any, maintained with the Agent for the full amount of monthly and periodic interest xxxxxxxx, fees and other Obligations payable hereunder; provided, however, that the failure of the Agent to so debit such account shall not in any manner or to any extent affect the obligation of the Company to pay such Obligations as provided herein and in the other Loan Documents.

Appears in 1 contract

Samples: Servicing Secured Credit Agreement (Headlands Mortgage Co)

Nature and Place of Payments. All payments made on account of the Obligations shall be made by the Company to the Agent for the account of the Lenders or the L/C Issuing Bank, as applicableCompany, without setoff or counterclaim, in Dollars lawful money of the United States of America in immediately available same day funds, free and clear of and without deduction for any taxesTaxes, fees or other charges of any nature whatsoever imposed by any taxing authority and must be received by the Agent by 2:00 p.m. 12:00 noon (Los Angeles time) on the day of payment, it being expressly agreed and understood that if a payment is received after 2:00 p.m. 12:00 noon (Los Angeles time) by the Agent, such payment will be considered to have been made by the Company on the next succeeding Business Day and interest thereon shall be payable by the Company at the then rate otherwise applicable rate thereto during such extension. All payments on account of the Obligations shall be made to the Agent through its the Contact Office. If any payment required to be made by the Company hereunder becomes due and payable on a day other than a Business Day, the due date thereof shall be extended to the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. The Agent is hereby irrevocably authorized by the Company Company, without prior notice to the Company, to debit the general operating account of the Company, if any, Company maintained with the Agent Sanwa for the full amount of monthly and periodic interest xxxxxxxx, fees and other Obligations payable hereunder; provided, however, that (1) the Agent shall notify (which notification may be telephonic) the Company of such debit within three Business Days, and (2) the failure of the Agent to so debit such account shall not in any manner or to any extent affect the obligation of the Company to pay such Obligations as provided herein and in the other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Equity Marketing Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!