Payment to Lender Clause Samples
The 'Payment to Lender' clause defines the borrower's obligation to make payments to the lender under the terms of a loan or credit agreement. It typically outlines the amount, frequency, and method of payment, such as monthly installments via bank transfer, and may specify due dates and acceptable forms of payment. This clause ensures that both parties are clear on how and when payments must be made, reducing the risk of misunderstandings or disputes regarding financial obligations.
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Payment to Lender. The Payment, any Progress Payment, any Termination Payment, and all other sums that become payable by the Province to the Contractor under the DBFO Agreement shall be paid only:
(a) subsequent to the delivery by the Province of a Default Notice or during the Step-In Period, to the Lender, in which case any such payment to the Lender shall be deemed payment to the Contractor under the DBFO Agreement; or
(b) subject to Section 2.2(a), to any account or accounts of the Contractor at any time jointly designated by the Contractor and the Lender and in the absence of such designation, to the Contractor, in either case, for the purpose of calculating a Termination Payment under section 18.8 or 18.9 of the DBFO Agreement, all payments to such account or accounts or to the Contractor that were required by the terms of the relevant Senior Debt Financing to have been applied towards repayment of the Senior Debt Financing shall be deemed to have been so applied.
Payment to Lender. In the event Tenant receives written notice (the “Rent Payment Notice”) from Lender or from a receiver for the Landlord’s Premises that there has been a default under the Security Instrument and that rentals due under the Lease are to be paid to Lender or to the receiver (whether pursuant to the terms of the Security Instrument or of that certain Assignment of Rents and Leases executed by Landlord as additional security for the Loan), Tenant shall pay to Lender or to the receiver, or shall pay in accordance with the directions of Lender or of the receiver, all Rent and other monies due or to become due to Landlord under the Lease, notwithstanding any contrary instruction, direction or assertion of Former Landlord. Landlord hereby expressly and irrevocably directs and authorizes Tenant to comply with any Rent Payment Notice, notwithstanding any contrary instruction, direction or assertion of Landlord, and Landlord hereby releases and discharges Tenant of and from any liability to Landlord on account of any such payments. The delivery by Lender or the receiver to Tenant of a Rent Payment Notice, or Tenant’s compliance therewith, shall not be deemed to: (i) cause Lender to succeed to or to assume any obligations or responsibilities as landlord under the Lease, all of which shall continue to be performed and discharged solely by the applicable Landlord unless and until any attornment has occurred pursuant to this Agreement; or (ii) relieve the applicable Former Landlord of any obligations under the Lease. Tenant shall be entitled to rely on any Rent Payment Notice. Tenant shall be under no duty to controvert or challenge any Rent Payment Notice. Tenant’s compliance with a Rent Payment Notice shall not be deemed to violate the Lease. Tenant shall be entitled to full credit under the Lease for any Rent paid to Lender pursuant to a Rent Payment Notice to the same extent as if such Rent were paid directly to Former Landlord.
Payment to Lender. All sums payable to Lender under the Loan shall be paid directly to Lender in United States Dollars and immediately available funds. If Lender shall send to Borrower statements of amounts due hereunder, such statements shall be considered correct and conclusively binding on Borrower unless Borrower notifies Lender to the contrary within thirty (30) days of its receipt of any statement which it deems to be incorrect. Alternatively, at its sole discretion, Lender may charge against any deposit account of Borrower all or any part of any amount due hereunder.
Payment to Lender. All payments to be made to the Lender by the Borrower hereunder will be made by direct deposit payments by way of electronic funds transfer to an account in a bank in Canada designated by the Lender, unless directed otherwise by the Lender.
Payment to Lender. If, pursuant to this Section, a Town Body acquires the portion of the Project Site comprised of the Mixed-Use Parcel, then all amounts paid by the Town Bodies shall be applied first to amounts overdue and owing to the Project Lender, and the Town Bodies may elect to pay such amounts directly to Project Lender.
Payment to Lender. In consideration for entering into this Agreement, M▇▇▇▇▇ agrees to pay Lender Eleven Million Dollars ($11,000,000) (the “Settlement Amount”) within twenty-four (24) hours of the dismissal of the Lawsuit and removal of the Receiver. Payment of the Settlement Amount shall be made via wire transfer in United States dollars. By the end of the day on May 29, 2025, the funds for the Settlement Amount will be delivered from M▇▇▇▇▇’▇ third-party funders to the trust account for its counsel, Dykema, and shall be held there until distributed to Lender. In the event, the Court does not enter an Order dismissing this Lawsuit and removing the Receiver, this Agreement shall be rendered void, and D▇▇▇▇▇ will return the funds to the third party funders, less any amounts due to the Receiver pursuant to Paragraph 3, which will be paid from D▇▇▇▇▇ to the Receiver. Payment of the Settlement Amount shall be deemed to be reimbursement of L▇▇▇▇▇’s principal amounts due and owing under the Note and the Second Note, which were secured by property valued in excess of the Settlement Amount. Payment of the Settlement Amount shall also be deemed a purchase of shares under the Common Stock Purchase Agreement between M▇▇▇▇▇ and the Borrower, dated July 26, 2024.
Payment to Lender. All sums payable to Lender hereunder shall be paid directly to Lender in United States Dollars and immediately available funds at the place payment is due. If Lender shall send to Cavalier Acceptance statements of amounts due hereunder, such statements shall be considered correct and conclusively binding on Cavalier Acceptance unless Cavalier Acceptance notifies Lender to the contrary within thirty (30) days of its receipt of any statement which it deems to be incorrect. Alternatively, at its sole discretion, Lender may charge against any deposit account of Cavalier Acceptance all or any part of any amount due hereunder.
Payment to Lender. 9 2.7 Use of Proceeds .................................. 9 2.8 [Intentionally Omitted]........................... 9
Payment to Lender. (a) The Borrower shall pay to the Lender the Principal Amount of and any accrued and unpaid interest on the Note in full on January [ ], 2027 (the “Interest Rate Reset Date”); provided however, if on the Interest Rate Reset Date the following statements shall be true and correct and the Lender shall have received a certificate incorporating by reference the definitions of the capitalized terms defined in this Agreement, signed by the Director and dated the Interest Rate Reset Date, stating that (i) the representations and warranties 3 NTD: Do we want to just attach a form of the AG’s opinion? of the Borrower contained herein and in each of the other Related Documents are true and correct on and as of the Interest Rate Reset Date as though made on and as of such date, (ii) no Default or Event of Default has occurred and is continuing as of the Interest Rate Reset Date, and (iii) no Event of Non-Allocation has occurred, commencing on the Interest Rate Reset Date, the Note shall bear interest at the Bank Rate and be subject to amortization as set forth in Section 3.01(b) below.
(b) If the conditions set forth in Section 3.01(a) are satisfied on the Interest Rate Reset Date, upon the Borrower’s written request delivered to the Lender in the form of Exhibit G attached hereto no later than thirty (30) days prior to the Interest Rate Reset Date, the outstanding principal amount of the Note shall be paid in substantially equal installments payable on each Amortization Payment Date, beginning on June 15, 2027 (each such payment, an “Amortization Payment”), with the final installment in an amount equal to the entire then-outstanding principal amount of the Note to be paid in full on the Final Maturity Date (the period commencing on the Interest Rate Reset Date and ending on the Final Maturity Date is herein referred to as the “Amortization Period”). Notwithstanding the foregoing and pursuant to the terms of Section 7.02 hereof, upon an Event of Default, the Lender may cause an acceleration of the Note by delivering a written notice to the Borrower that an Event of Default has occurred and is continuing and instructing the Borrower that the Note is subject to acceleration.
Payment to Lender. All sums payable to Lender shall be paid directly to Lender in immediately available funds. Lender shall send Borrower monthly statements of all amounts due, which statements shall be considered correct and conclusively binding on Borrower unless Borrower notifies Lender to the contrary within sixty (60) days of its receipt of any statement that it deems to be incorrect.