Payment by the Borrower Sample Clauses
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Payment by the Borrower. The Guarantor hereby agrees, in furtherance of the foregoing and not in limitation of any other right which any Beneficiary may have at law or in equity against the Guarantor by virtue hereof, that upon the failure of any Subsidiary Borrower to pay any of the Guaranteed Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)), the Guarantor will upon demand pay, or cause to be paid, in Cash, to the Administrative Agent for the ratable benefit of the Beneficiaries, an amount equal to the sum of the unpaid principal amount of all Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations (including interest which, but for such Subsidiary Borrower becoming the subject of a case under the Bankruptcy Code, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against such Credit Party for such interest in the related bankruptcy case) and all other Guaranteed Obligations then owed to the Beneficiaries as aforesaid.
Payment by the Borrower. 7.1 All payments whether as to principal, interest, fees or otherwise, to be made by the Borrower under this Agreement shall be made without set-off, counterclaim or condition and free and clear of and without any deduction of or withholding for or on account of any taxes, duties, levies, charges, imposts or any other deductions of whatsoever nature, now or hereafter imposed. If at any time in accordance with any Applicable Laws, the Borrower is required to make any such deduction or withholding from any such payment, the sum due from the Borrower in respect of such payment shall be increased to the extent necessary to ensure that after the making of such deduction or withholding, the Lender receives a net sum equal to the sum which it would have received, had no such deduction or withholding been required to be made.
7.2 If the Borrower pays a sum which is less than the total amount due and overdue whether in respect of principal, fees or otherwise, the Borrower shall apply all payments in the following order of priority:
7.2.1 firstly, in reimbursement of all fees (including legal fees on a full indemnity basis) and expenses incurred by the Lender arising from or in connection with the demanding, enforcement or attempted enforcement of payment of moneys due under this Agreement or the protection, preservation, enforcement (or the attempt to do so) of the Lender’s rights and remedies under this Agreement and the Applicable Laws;
7.2.2 secondly, in repayment of any interest under this Agreement:
i) interest to be repaid end of every month ii) monthly interest rate – 1.67% on the Loan; and
7.2.3 thirdly, in repayment of the principal element of the Loan.
Payment by the Borrower. The Borrower shall bear the cost of the COFACE Insurance Premia payable in respect of, or in connection with, the COFACE Insurance Policy and shall pay all such amounts to the COFACE Agent (for the account of COFACE). The COFACE Insurance Premia is due and payable in full to the COFACE Agent (for the account of COFACE) on the Utilisation Date for the first Utilisation.
Payment by the Borrower. The Borrower agrees to fully reimburse the Agent for all amounts paid under any Letter of Credit together with interest thereon at the rate applicable to Reference Rate Loans from the date such payment is made until the date the Agent notifies the Borrower that such payment was made. Such reimbursement shall be made in immediately available funds to Agent at 1420 Fifth Avenue, Seattle, Washington 98101 not later than ▇▇:▇▇ ▇▇▇▇ (▇▇▇▇▇▇▇ ▇▇▇▇) ▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇ ▇orrower is first notified by the Agent that payment has been made under the Letter of Credit; provided, that, if the Agent so elects pursuant to the terms of Section 9.2, following the occurrence of an Event of Default, the face amount of each Letter of Credit shall become immediately due and payable. If the Borrower should default in its obligations to reimburse the Agent or to make any other payment required hereunder, (i) interest shall accrue on the unpaid amount thereof at the rate applicable to Reference Rate Loans during the existence of an Event of Default from the date such amount becomes due and payable until payment in full by the Borrower; and (ii) the Agent, in its sole discretion, may deem such default to constitute a Notice of Borrowing for the amount of the unreimbursed obligation together with accrued interest thereon, and, subject to the terms and conditions hereof, may advance a Loan to the Borrower and immediately apply the proceeds thereof in satisfaction of the Borrower's obligations under this Section 3.
Payment by the Borrower. The Borrower shall repay the due amount to the following account at the latest of: (i) one (1) Business Day before the Interest Payment Date when repaying loan interests; (ii) one (1) Business Day before relevant Repayment Date and Last Maturity Date when repaying loan principal and the last installment of loan interests; and (iii) within three (3) Business Days after receiving notice from the Agent Bank requesting to repay relevant fees hereunder: Account Name: Chongqing Daqo New Energy Co., Ltd. Bank of Deposit: China Construction Bank, Wanzhou Branch Account No.: 50001303600050212151 The Borrower hereby irrevocably authorizes the Agent Bank to deduct any amount due under this Agreement from the above account on the relevant maturity date. The Agent Bank shall transfer the deducted amount to the account of each Lender on the maturity date according to the order and percentage stipulated under Article 7.6. Account Name: China Merchants Bank, Chongqing Jiangbei Sub-branch Opening Bank: China Merchants Bank, Chongqing Jiangbei Sub-branch Account No.: 912351220439003010 Remark: Daqo New Energy syndicate loan (principal or interests or fees)
Payment by the Borrower. (a) The Borrower shall bear the cost of the BPIFAE Insurance Premia and the BPIFAE 2013 Deferred Fee Premium payable in respect of, or in connection with, the BPIFAE Insurance Policy and shall pay all such amounts to the BPIFAE Agent (for the account of BPIFAE).
(b) The BPIFAE Insurance Premia is due and payable in full to the BPIFAE Agent (for the account of BPIFAE) on the Utilisation Date for the first Utilisation and such amounts have been paid by the Borrower.
(c) The BPIFAE 2013 Deferred Fee Premium is due to the BPIFAE Agent (for the account of BPIFAE) on the First Effective Date and shall be paid by the Borrower as follows:
(i) US$8,000,000 shall be paid on the First Effective Date; and
(ii) US$12,000,000 shall be paid on 30 June 2017, (or, if earlier, in each case, the date on which the BPIFAE 2013 Deferred Fee Premium has been paid in full pursuant to any prepayments applied against such BPIFAE 2013 Deferred Fee Premium under the terms of this Agreement).
Payment by the Borrower. No later than 10:00 a.m. on each day on which the Borrower is required to make a payment under a Finance Document, the Borrower shall transfer the relevant funds to the account of the Lender via electronic transfer.
Payment by the Borrower. (a) The Borrower shall bear the cost of the COFACE Premium payable in respect of, or in connection with, the COFACE Cover and the Facility Agent shall pay all such amounts to COFACE for the Borrower’s account.
(b) The COFACE Premium will be due and payable in full on the date of the first Utilisation under this Agreement.
(c) An amount of US$2,056 is due and payable to COFACE on the date of signature of the COFACE Cover. If settled by the Facility Agent, the Borrower undertakes to reimburse such amount on the Facility Agent’s demand.
Payment by the Borrower. Each Issuing Lender agrees to release, or cause the trustee under the applicable Bond Indenture to release, Custody Bonds to or upon the order of the Borrower in an amount equal to the principal amount of the Liquidity Drawing made to acquire such Custody Bonds that is not repaid from remarketing proceeds upon payment to the applicable Issuing Lender by the Borrower of the full amount of such Liquidity Drawing (or the Loan made in respect thereof), together with accrued and unpaid interest thereon.
Payment by the Borrower. (1) Except as otherwise provided herein, all payments made by or on behalf of the Borrower pursuant to this Agreement shall be made to and received by the Agent and shall be distributed by the Agent to the Lenders as soon as possible upon receipt by the Agent. Except as otherwise provided in this Agreement (including Section 9.3(2), the Agent shall distribute:
(a) payments of interest in accordance with each Lender’s Applicable Percentage of the Credit;
(b) repayments of principal in accordance with each Lender’s Applicable Percentage of the Credit; or
(c) all other payments received by the Agent including amounts received upon the realization of Security, in accordance with each Lender’s Applicable Percentage of the Credit provided, however, that with respect to proceeds of realization, no Lender shall receive an amount in excess of the amounts owing to it in respect of the Obligations.
(2) If the Agent does not distribute a Lender’s share of a payment made by the Borrower to that Lender for value on the day that payment is made or deemed to have been made to the Agent, the Agent shall pay to the Lender on demand an amount equal to the product of (a) the Interbank Reference Rate per annum multiplied by (b) the Lender’s share of the amount received by the Agent from the Borrower and not so distributed, multiplied by (c) a fraction, the numerator of which is the number of days that have elapsed from and including the date of receipt of the payment by the Agent to but excluding the date on which the payment is made by the Agent to such Lender and the denominator of which is 365. The Agent shall be entitled to withhold any Tax applicable to any such payment as required by applicable laws.