Payment of L/Cs Sample Clauses

Payment of L/Cs. 5.24.1 The Borrowers shall provide for the payment to the Issuing Bank at the branch where the L/C was issued of the full face amount of each L/C (or the amount actually paid in the case of a partial payment) on the earlier of (1) the date on which the Issuing Bank makes a payment to the beneficiary of an L/C, and (ii) the date on which any Obligations become due and payable pursuant to Section 8.2. Notwithstanding the preceding sentence, if the Borrowers do not provide for payment as required and the L/C is not denominated in Canadian Dollars or US Dollars, the Issuing Bank may convert the amount paid to Canadian Dollars and the Borrowers shall pay the Issuing Bank the converted amount. The Issuing Bank, and the Lenders to the extent that they indemnify the Issuing Bank pursuant to Section 5.1, shall be entitled to recover interest from the Borrowers at a rate of interest per annum equal to the rate applicable to Prime Rate Advances (in the case of Canadian Dollar L/Cs or amounts converted to Canadian Dollars) or Base Rate Advances (in the case of US Dollar L/Cs), compounded quarterly, on any amount payment of which has not been provided for by the Borrowers in accordance with this Section 5.24. Interest shall be calculated from and including the date on which the Issuing Bank makes a payment to the beneficiary of an L/C, up to but excluding the date such payment, and all interest thereon, both before and after demand, default and judgment, is provided for by the Borrowers. 5.24.2 The obligation of the Borrowers to reimburse the Issuing Bank for a payment to a beneficiary of an L/C shall be absolute and unconditional (without prejudice to the Borrowers’ right, after reimbursing the Issuing Bank, to claim damages from the Issuing Bank for matters arising from the Issuing Bank’s wilful misconduct or gross negligence), and shall not be reduced by any demand or other request for payment of an L/C (a “Demand”) paid or acted on in good faith and in conformity with Applicable Laws or customs applicable thereto being invalid, insufficient, fraudulent or forged, nor shall the Borrowers’ obligation be subject to any defence or be affected by any right of set-off, counter-claim or recoupment which the Borrowers may now or hereafter have against the beneficiary, the Issuing Bank or any other Person for any reason whatsoever, including the fact that the Issuing Bank paid a Demand or Demands (if applicable) aggregating up to the amount of the L/C notwithstanding any co...
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Payment of L/Cs. If any Event of Default shall occur and be continuing then the Agent may (and, if so instructed by the Required Lenders shall), by written notice to the Borrower require the Borrower to pay to the Agent on behalf of the Issuing Banks, an amount equal to the undrawn face amount of any Letters of Credit issued and outstanding under the Credit and such amount shall be held by the Agent on deposit in trust for the Lenders and/or the Issuing Banks (as applicable) until the maturity date of such Letter of Credit. Upon receipt of such payment, the Borrower shall be discharged from its obligations under Section 9.2 in respect of any such Letter of Credit.
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Payment of L/Cs. The Borrower shall provide for the payment to the Issuing Bank at the branch where the L/C was issued of the full face amount of each L/C (or the amount actually paid in the case of a partial payment) on the earlier of (i) the date on which the Issuing Bank makes a payment to the beneficiary of an L/C, and (ii) the date on which any Obligations
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Payment of L/Cs. (1) Immediately on any Obligations becoming due and payable under Section 8.2, the Borrower shall, without necessity of further act or evidence, be and become thereby unconditionally obligated to deposit forthwith with the Agent for the Lenders' benefit Cash Collateral equal to the full principal amount at maturity of all L/Cs then outstanding for its account and the Borrower hereby unconditionally promises and agrees to do so. The amounts required to be deposited as Cash Collateral form part of the Obligations. The Borrower authorizes the Lenders, or any of them, to debit its accounts with the amount required to pay outstanding L/Cs. Amounts paid to the Agent in respect of L/Cs shall be applied against, and shall reduce, pro rata among the Lenders, to the extent of the amounts paid to the Agent in respect of L/Cs, the obligations of the Borrower to pay amounts then or subsequently payable under L/Cs at the times amounts become payable. (2) The Borrower shall be entitled to receive interest on cash held as Cash Collateral in accordance with Section 5.3(7).
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Payment of L/Cs. The Borrower for whose account an L/C was issued shall provide for the payment to the Issuing Bank at the branch where the L/C was issued (for the account of the Lenders) of the full face amount of each L/C (or the amount actually paid in the case of a partial payment to a beneficiary) on the earlier of (i) the date on which the Issuing Bank makes a payment to the beneficiary of an L/C, and (ii) the date on which any Obligations become due and payable pursuant to Section 11.
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Payment of L/Cs. The Borrower shall provide for the payment to CIBC at the branch where the L/C was issued (for the account of the Lenders) of the full face amount of each L/C (or the amount actually paid in the case of a partial payment) on the earlier of (i) the date on which CIBC makes a payment to the beneficiary of an L/C, and (ii) the date on which any Obligations become due and payable pursuant to Section 9.
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Payment of L/Cs. (1) The Obligor for whose account an L/C was issued shall pay the Lender each amount paid to the beneficiary of the L/C for value on the date on which the Lender makes a payment. (2) If an Obligor fails to provide for payment in accordance with Section 4.6(1), it shall pay interest on the unpaid amount at a per annum rate equal to the Prime Rate plus the Margin in the case of failure to provide for a Canadian Dollar L/C or the Base Rate plus the Margin in the case of failure to provide for a US Dollar L/C.
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Related to Payment of L/Cs

  • Payment of GST Payment of the additional amount will be made at the same time as payment for the supply is required to be made under this Contract.

  • Payment of Legal Fees All reasonable legal fees paid or incurred by Executive pursuant to any dispute or question of interpretation relating to this Agreement shall be paid or reimbursed by the Holding Company, if Executive is successful pursuant to a legal judgment, arbitration or settlement.

  • PAYMENT OF LOAN FEE Borrower shall pay to Lender a fee in the amount of One Thousand Five Hundred and 00/100 Dollars ($1,500.00) (the "Loan Fee") plus all out-of-pocket expenses.

  • Extension of Payment; Reduction of Principal Interest or Fees; Modification of Terms of Payment Whether or not any Loans are outstanding, extend the Expiration Date or the time for payment of principal or interest of any Loan (excluding the due date of any mandatory prepayment of a Loan), the Commitment Fee or any other fee payable to any Lender, or reduce the principal amount of or the rate of interest borne by any Loan or reduce the Commitment Fee or any other fee payable to any Lender, without the consent of each Lender directly affected thereby;

  • PAYMENT OF LICENCE FEE 4.1 In consideration for the Licence Granted to the Licensee, the Licensee must pay to SAMRO an annual Licence Fee calculated in accordance with the SAMRO Tariff RT, as amended from time to time (“Licence Fee”). 4.2 The Licence Fee is payable annually, in advance, within 30 days (including weekends and public holidays) of the date of invoice. 4.3 The Licence Fee is based on the information provided by the Licensee. The licensee warrants that all information provided to SAMRO is true, correct and up to date. 4.4 XXXXX may amend the Tariff and Licence Fee payable, with 3 (three) months’ prior written notice of any such amendment to the Licensee. 4.5 The Licensee is liable for payment of the amended licence fee from the date that the amended Tariff becomes effective. 4.6 If any increased Licence Fee becomes payable as a result of a change in the manner and extent of the Performance or usage of XXXXX’s Repertoire, the Licensee must forthwith pay the proper proportion of such increased fee from the date of such change in the manner or extent of Performance of music. 4.7 If the amended Licence Fee is less than that which the Licensee previously paid, the pro-rata balance in respect thereof will be set off as a credit against the Licence Fee payable for the next ensuing year or, at the Licensee’s option, refunded. 4.8 XXXXX will have the right, at any time during the subsistence of the Agreement, to reassess and check the Licence Fee payable by the Licensee and the parameters upon which the Licence Fee is payable.

  • Payment of Loan 1. The Loan Issuing Account The borrower shall open the following loan account with the lender through which the loan issuance and payment shall be handled. Account Name: Shengfeng Logistics Group Co., Ltd Account Number: **********

  • Payment of VAT Where any taxable supply for VAT purposes is made under or in connection with this contract by one party to the other the payer shall, in addition to any payment required for that supply, pay such VAT as is chargeable in respect of it.

  • Payment of Amounts The Death Benefit payable on the death of the Owner, or after the death of the first Owner, or upon the death of the spouse who continues the Contract, will be distributed to the designated Beneficiary(s) as follows:

  • Payment of Note Mortgagor will pay all principal, interest, and other sums payable under the Note, on the date when such payments are due, without notice or demand.

  • Payment of Bills Except as otherwise indicated herein or on the Service Order(s), Comcast will invoice Customer in advance on a monthly basis for all monthly recurring Service charges and fees arising under the Agreement. All other charges will be billed monthly in arrears. Customer shall make payment to Comcast for all invoiced amounts within thirty (30) days after the date of the invoice. Any amounts not paid to Comcast within such period will be considered past due. If a Service Commencement Date is not the first day of a billing period, Xxxxxxxx’s next monthly invoice shall include a prorated charge for the Services, from the date of installation to the first day of the new billing. In certain cases, Comcast may agree to provide billing services on behalf of third parties, as the agent of the third party. Any such third-party charges shall be payable pursuant to any contract or other arrangement between Customer and the third party. Comcast shall not be responsible for any dispute regarding these charges between Xxxxxxxx and such third party. Customer must address all such disputes directly with the third party.

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