Common use of Payment; Method of Payment Clause in Contracts

Payment; Method of Payment. (a) The Borrower shall make payments of the Loans as follows: (i) The entire outstanding principal amount of each Loan on the last day of the Interest Period applicable to such Loan; (ii) the entire outstanding principal amount of the Loans on the Maturity Date or such earlier date as the Loans become due and payable pursuant to Section 5.02; (iii) interest as provided in Section 2.03(a); and (iv) any other obligation under this Agreement as it comes due, but in no case later than the Maturity Date (except as to obligations that, by their express terms, survive repayment of the Loans and termination of the Commitment). (b) The Borrower shall make each payment under this Agreement without set-off, defense, recoupment or counterclaim and (subject to Section 6.07) without deduction or withholding, in U.S. Dollars, not later than 3:00 p.m., Plano, Texas time, on the date when due to the Lender, in immediately available funds by wire transfer to the account specified below: Toyota Motor Sales, U.S.A., Inc. [**]