Common use of Payment of Loans and Swing Line Loans Clause in Contracts

Payment of Loans and Swing Line Loans. (a) The outstanding principal balance of the Term Notes, Line of Credit Notes and the Swing Line Notes shall be due and payable on their respective Maturity Dates. (b) Subject to the definition of Interest Period in the case of LIBOR Rate Advances, whenever any payment hereunder or under any Note shall be due on a day other than a Business Day, the date for payment of such amounts shall be extended to the next succeeding Business Day. (c) The Borrower shall make each payment hereunder and under the Term Notes and Line of Credit Notes not later than 11:00 a.m. (Denver time) on the day when due in Dollars and in immediately available funds to the Agent for the account of the Lenders, unless such payment is scheduled to be made with the proceeds of a Line of Credit Advance otherwise available hereunder. Subject to Section 2.1.3, the Agent will promptly distribute in Dollars and in immediately available funds to each Lender its Pro Rata Percentage of each such payment received by the Agent for the account of the Lenders. (d) The Borrower shall make each Swing Line Loan payment not later than 1:00 p.m. (Denver time) (in the case of Regular Swing Line Loans) or 5:00 p.m. (Denver time) (in the case of Swing Line Bond Loans) on the day when due in Dollars and in immediately available funds to the Swing Line Lender unless such Swing Line Loan is being refinanced through Line of Credit Loans.

Payment of Loans and Swing Line Loans. (a) The outstanding principal balance of the Term Notes, Line of Credit Notes and the Swing Line Notes shall be due and payable on their respective Maturity Dates. (b) Subject to the definition of Interest Period in the case of LIBOR Rate Advances, whenever any payment hereunder or under any Note shall be due on a day other than a Business Day, the date for payment of such amounts shall be extended to the next succeeding Business Day. (c) The Borrower shall make each payment hereunder and under the Term Notes and Line of Credit Notes not later than 11:00 a.m. (Denver time) on the day when due in Dollars and in immediately available funds to the Agent for the account of the Lenders, unless such payment is scheduled to be made with the proceeds of a Line of Credit Advance otherwise available hereunder. Subject to Section 2.1.3, the Agent will promptly distribute in Dollars and in immediately available funds to each Lender its Pro Rata Percentage of each such payment received by the Agent for the account of the Lenders. (d) The Borrower shall make each Swing Line Loan payment not later than 1:00 p.m. (Denver time) (in the case of Regular Swing Line Loans) or 5:00 p.m. (Denver time) (in the case of Swing Line Bond Loans) on the day when due in Dollars and in immediately available funds to the Swing Line Lender unless such Swing Line Loan is being refinanced through Line of Credit Loans.

Payment of Loans and Swing Line Loans. (a) The outstanding principal balance of the Term Notes, Line of Credit Notes and the Swing Line Notes shall be due and payable on their respective Maturity Dates. (b) Subject to the definition of Interest Period in the case of LIBOR Rate Advances, whenever any payment hereunder or under any Note shall be due on a day other than a Business Day, the date for payment of such amounts shall be extended to the next succeeding Business Day. (c) The Borrower shall make each payment hereunder and under the Term Notes and Line of Credit Notes not later than 11:00 a.m. (Denver time) on the day when due in Dollars and in immediately available funds to the Agent for the account of the Lenders, unless such payment is scheduled to be made with the proceeds of a Line of Credit Advance otherwise available hereunder. Subject to Section 2.1.3, the Agent will promptly distribute in Dollars and in immediately available funds to each Lender its Pro Rata Percentage of each such payment received by the Agent for the account of the Lenders. (d) The Borrower shall make each Swing Line Loan payment not later than 1:00 p.m. (Denver time) (in the case of Regular Swing Line Loans) or 5:00 p.m. (Denver time) (in the case of Swing Line Bond Loans) on the day when due in Dollars and in National Beef Packing Company Credit Agreement 34 immediately available funds to the Swing Line Lender unless such Swing Line Loan is being refinanced through Line of Credit Loans.