Common use of Payment; Interest Computation Clause in Contracts

Payment; Interest Computation. Interest is payable monthly on the last calendar day of each month. In computing interest on the Obligations, all Payments received after 12:00 noon Eastern time on any day shall be deemed received on the next Business Day. Bank shall not, however, be required to credit Borrower’s account for the amount of any item of payment which is unsatisfactory to Bank in its good faith business judgment, and Bank may charge Borrower’s Designated Deposit Account for the amount of any item of payment which is returned to Bank unpaid.

Payment; Interest Computation. Interest Unless otherwise provided, interest is payable monthly on the last calendar day of each month. In computing interest on the Obligations, all Payments received after 12:00 noon 3:00 p.m. Eastern time on any day shall be deemed received on the next Business Day. Bank shall not, however, be required to credit Borrower’s account for the amount of any item of payment which is unsatisfactory to Bank in its good faith business judgment, and Bank may charge Borrower’s Designated Deposit Account for the amount of any item of payment which is returned to Bank unpaid.

Payment; Interest Computation. Interest is payable monthly on the last calendar day of each month. In computing interest on the Obligations, all Payments received after 12:00 noon Eastern time on any day shall be deemed received on the next Business Day. Bank Agent shall not, however, be required to credit Borrower’s account for the amount of any item of payment which is unsatisfactory to Bank Agent in its good faith business judgment, and Bank Agent may charge Borrower’s Designated Deposit Account for the amount of any item of payment which is returned to Bank Agent unpaid.”