Common use of Payment on Maturity Clause in Contracts

Payment on Maturity. A Borrower which has received a Bankers' Acceptance Advance shall pay to the Administrative Agent, for the account of the Lenders, on the maturity date of such Bankers' Acceptance and the last day of the Interest Period of an Acceptance Note an amount equal to the Face Amount of such maturing Bankers' Acceptance or the principal amount of such Acceptance Note, as the case may be; provided that such Borrower may, at its option, so reimburse the Lenders, in whole or in part, by delivering to the Administrative Agent no later than 10:00 a.m. two (2) Banking Days prior to the maturity date of a maturing Bankers' Acceptance or the last day of the Interest Period of an Acceptance Note, as the case may be, a Rollover Notice specifying the term of the Bankers' Acceptances or the next Interest Period for such Acceptance Note, as the case may be, and presenting drafts or Acceptance Notes to the Lenders for acceptance and purchase having, in the case of reimbursement in whole by replacement Bankers' Acceptances or Acceptance Notes, an aggregate Face Amount equal to the Face Amount of the maturing Bankers' Acceptances or principal amount of the Acceptance Notes. In the event that a Borrower fails to deliver a Conversion Notice or Rollover Notice and fails to make payment to the Administrative Agent in respect of the maturing Bankers' Acceptance Advance, the Face Amount of the maturing Bankers' Acceptances and the principal amount of the Acceptance Notes forming part of such Bankers' Acceptance Advance shall be deemed to be converted to a Prime Rate Advance on the relevant maturity date.

Payment on Maturity. A Borrower which has received a Bankers' ’ Acceptance Advance shall pay to the Administrative Agent, for the account of the Lenders, on the maturity date of such Bankers' ’ Acceptance and the last day of the Interest Period of an Acceptance Note an amount equal to the Face Amount of such maturing Bankers' ’ Acceptance or the principal amount of such Acceptance Note, as the case may be; provided that such Borrower may, at its option, so reimburse the Lenders, in whole or in part, by delivering to the Administrative Agent no later than 10:00 a.m. two (2) Banking Days prior to the maturity date of a maturing Bankers' ’ Acceptance or the last day of the Interest Period of an Acceptance Note, as the case may be, a Rollover Notice specifying the term of the Bankers' ’ Acceptances or the next Interest Period for such Acceptance Note, as the case may be, and presenting drafts or Acceptance Notes to the Lenders for acceptance and purchase having, in the case of reimbursement in whole by replacement Bankers' ’ Acceptances or Acceptance Notes, an aggregate Face Amount equal to the Face Amount of the maturing Bankers' ’ Acceptances or principal amount of the Acceptance Notes. In the event that a Borrower fails to deliver a Conversion Notice or Rollover Notice and fails to make payment to the Administrative Agent in respect of the maturing Bankers' ’ Acceptance Advance, the Face Amount of the maturing Bankers' ’ Acceptances and the principal amount of the Acceptance Notes forming part of such Bankers' ’ Acceptance Advance shall be deemed to be converted to a Prime Rate Advance on the relevant maturity date.

Payment on Maturity. A The Borrower which has received a Bankers' Acceptance Advance shall pay to the Administrative Agent, Agent for the account of the Lenders, Lenders on the maturity date of such a Bankers' Acceptance and the last day of the Interest Period of an Acceptance Note an amount equal to the Face Amount of such maturing Bankers' Acceptance or the principal amount of such Acceptance Note, as the case may beAcceptance; provided that such the Borrower may, at its option, so reimburse the Lenders, in whole or in part, by delivering to the Administrative Agent no later than 10:00 a.m. two (2) one Banking Days Day prior to the maturity date of a maturing Bankers' Acceptance or the last day of the Interest Period of an Acceptance Note, as the case may beAcceptance, a Rollover Notice specifying the term of the Bankers' Acceptances or the next Interest Period for such Acceptance Note, as the case may be, and presenting drafts or Acceptance Notes to the Lenders for acceptance and purchase having, in the case of reimbursement in whole by replacement Bankers' Acceptances or Acceptance NotesAcceptances, an aggregate Face Amount equal to the Face Amount of the maturing Bankers' Acceptances or principal amount of the Acceptance NotesAcceptances. In the event that a the Borrower fails to deliver a Conversion Notice or Rollover Notice and fails to make payment to the Administrative Agent in respect of the maturing Bankers' Acceptance AdvanceAcceptances, the Face Amount of the maturing Bankers' Acceptances and the principal amount of the Acceptance Notes forming part of such Bankers' Acceptance Advance shall be deemed to be converted to a Prime Rate Advance on the relevant maturity date. The Borrower shall pay to the Administrative Agent for the account of the Lenders on the maturity date of the maturing Bankers' Acceptance the difference between the Face Amount of the maturing Bankers' Acceptance and the BA Purchase Price for such replacement Bankers' Acceptances.

Payment on Maturity. A The Borrower which has received a Bankers' Acceptance Advance shall pay to the Administrative Agent, for the account of the Lenders, Lender on the maturity date of such a Bankers' ’ Acceptance and the last day of the Interest Period of an Acceptance Note an amount equal to the Face Amount of such maturing Bankers' Acceptance or the principal amount of such Acceptance Note, as the case may be’ Acceptance; provided that such the Borrower may, at its option, so reimburse the LendersLender, in whole or in part, by delivering to the Administrative Agent Lender no later than 10:00 a.m. two (2) Banking Days one Business Day prior to the maturity date of a maturing Bankers' Acceptance or the last day of the Interest Period of an Acceptance Note, as the case may be’ Acceptance, a Rollover Notice specifying the term of the Bankers' ’ Acceptances or the next Interest Period for such Acceptance Note, as the case may be, and presenting drafts or Acceptance Notes to the Lenders Lender for acceptance and purchase having, in the case of reimbursement in whole by replacement Bankers' Acceptances or Acceptance Notes’ Acceptances, an aggregate Face Amount equal to the Face Amount of the maturing Bankers' Acceptances or principal amount ’ Acceptances. The Borrower shall pay to the Lender on the maturity date of the maturing Bankers’ Acceptance Notesthe difference between the Face Amount of the maturing Bankers’ Acceptance and the BA Purchase Price for such replacement Bankers’ Acceptances. In If the event that a Borrower fails to deliver a Conversion Notice or Rollover Notice and fails to make payment to the Administrative Agent Lender in respect of the maturing Bankers' ’ Acceptance Advance, the Face Amount of the maturing Bankers' ’ Acceptances and the principal amount of the Acceptance Notes forming part of such Bankers' ’ Acceptance Advance shall be deemed to be converted to a Prime Rate Advance on the relevant maturity date.