Payment Terms; Obligations Absolute Clause Samples
Payment Terms; Obligations Absolute. For each Credit, Applicant shall pay Bank: (i) the amount of each drawing paid by Bank under the Credit on demand, if under a sight draft and at least one Business Day prior to the date when payment is to be made under a time draft (or acceptance relating thereto) or deferred payment obligation; (ii) commissions, fees and charges in respect of the Credit (including, commissions and fees for issuance, transfer, assignment of proceeds, amendments and drawings and of any adviser, confirming institution or entity or other nominated person), at such rates, amounts and times as Bank and Applicant shall mutually agree (or if no agreement, the rate then customarily charged by Bank); (iii) interest on each amount under this Agreement for each day from and including the date such payment is due through the date of payment, on demand, at a rate per annum (calculated on the basis of a 360 day year for the actual number of days elapsed) equal to the lesser of (A) Prime plus 4% and (B) the highest rate permitted by applicable law; (iv) Bank’s charges, costs and expenses (including reasonable internal and outside counsel fees, expenses and charges) incurred in connection with the protection or enforcement of Bank’s rights under this Agreement and any correspondent’s charges, with interest from the date paid or incurred by Bank through the date of payment by Applicant, on demand, at a rate per annum equal to Prime plus 4%; and (v) if as a result of any Regulatory Change, the Bank determines that the cost to the Bank of issuing or maintaining any Credit is increased, or any amount received or receivable by the Bank hereunder is reduced, or the Bank is required to make any payment in connection with any transaction contemplated hereby, then the Applicant shall pay to the Bank on demand such additional amount or amounts as the Bank determines will compensate the Bank for such increased cost, reduction or payment. “Regulatory Change” means any change after the date hereof in United States federal, state or foreign laws or regulations (including Regulation D of the Board of Governors of the Federal Reserve System as amended or supplemented from time to time) or the adoption or making after such date of any interpretations, directives or requests applying to a class of banks including the Bank or under any United States federal or state, or any foreign, laws or regulations (whether or not having the force of law) by any court or governmental or monetary authority charged with t...
Payment Terms; Obligations Absolute. (a) For each Credit, Applicant shall pay to the Administrative Agent for the account of Bank: i) the amount of each drawing paid by Bank under such Credit, in accordance with Section 2.05(e) of the Credit Agreement; ii) commissions, fees and charges in respect of such Credit, in accordance with in Section 2.13(b) of the Credit Agreement; iii) interest in accordance with Section 2.05(h) of the Credit Agreement; and iv) Bank’s charges, costs and expenses, in accordance with Section 9.03(a) of the Credit Agreement.
(b) If the amount drawn under any Credit is in a Designated Foreign Currency, Applicant shall pay under Section 3(a)(i) the US Dollar Equivalent of such amount, in accordance with Section 2.05(e) of the Credit Agreement.
(c) Applicant’s payment obligations under this Section 3 are absolute, unconditional and irrevocable under any and all circumstances whatsoever, as provided in Section 2.05(f) of the Credit Agreement.
Payment Terms; Obligations Absolute. (a) For each Credit, Applicant shall pay Bank: (i) the amount of each drawing paid by Bank under the Credit on demand, if under a sight draft and at least one Business Day prior to the date when payment is to be made under a time draft (or acceptance relating thereto) or deferred payment obligation;
Payment Terms; Obligations Absolute. For each Credit, Applicant shall pay to the Administrative Agent for the account of Bank: (i) the amount of each drawing paid by Bank under such Credit, in accordance with Section 2.05(e) of the Credit Agreement; (ii) commissions, fees and charges in respect of such Credit, in accordance with in Section 2.13(b) of the Credit Agreement; (iii) interest in accordance with Section 2.05(h) of the Credit Agreement; and (iv) Bank’s charges, costs and expenses, in accordance with Section 9.03(a) of the Credit Agreement.
Payment Terms; Obligations Absolute. (a) Applicant shall pay Issuer: (i) the amount of each drawing paid by Issuer under the Credit on demand, if under a sight draft and at least one Business Day prior to the date when payment is to be made thereunder if a time draft or deferred payment obligation; (ii) commissions, fees and charges in respect of the Credit (including, commissions and fees for issuance, transfer, assignment of proceeds, amendments and drawings), at such rates, amounts and times as Issuer and Applicant shall mutually agree upon (or if no agreement, the rate then customarily charged by Issuer in like circumstances); (iii) interest on each amount to be paid by Applicant under this Agreement for each day from and including the date such payment is due through the date of payment by Applicant, on demand, at a rate per annum (calculated on the basis of a 360 day year for the actual number of days elapsed) equal to the Prime plus 3%; (