Common use of Payment Requirement Clause in Contracts

Payment Requirement. Unless expressly provided to the contrary elsewhere herein, Resellers shall make each payment on the Loan Obligations to Administrative Agents for the account of Lenders (based on each Lender’s Pro-Rata Share) as required under the Loan Documents to the Collection Account of the Administrative Agents on the Payment Due Date, without deduction, set-off or counterclaim. All such payments will be distributed by Administrative Agents to Lenders as provided in Section 5.2 for application to the Loan Obligations as provided herein.

Payment Requirement. Unless expressly provided to the contrary elsewhere herein, Resellers Reseller shall make each payment on the Loan Obligations to Administrative Agents for the account of Lenders (based on each Lender’s Pro-Rata Share) as required under the Loan Documents to at the Collection Account Applicable Lending Office of the Administrative Agents on the Payment Due Datedate when due, without deduction, set-off or counterclaim. All such payments will be distributed by Administrative Agents to Lenders as provided in Section 5.2 18.10 for application to the Loan Obligations as provided herein.