Payments and Calculations. 12.1 The Borrower shall at all times ensure that there are sufficient funds in its bank accounts on any Repayment Date to cover the payment of the next instalment of Principal and/or interest on the next Interest Payment Date.
12.2 All payments to be made by the Borrower hereunder shall be made to such accounts of the Agent or the Banks with such banks as the Agent shall notify the Borrower from time to time, by not later than 11. a.m. London time in USD in freely transferable funds which are for same day settlement or in such other USD funds as shall for the time being be customary for the settlement of transactions of this nature.
12.3 All payments by the Borrower shall be made without set-off or counterclaim and free and clear of and without deduction for or on account of any present or future Taxes of any nature, unless the Borrower is compelled by law to make payment subject to any such Taxes. In the event that the Borrower is compelled by law to deduct or withhold any such Taxes, the Borrower shall (i) pay to the Agent such additional amount as may be necessary to ensure that the Agent and the Banks receive a net amount equal to that which they would have received had such deductions or withholdings not been made and (ii) deliver to the Agent as soon as practicable after any request by it an official receipt of the payment of any Taxes so deducted.
12.4 If the date on which a payment is due to be made hereunder is not a Banking Day, such date of payment shall be the first following Banking Day unless payment would thereby be made in a new calendar month, in which case the payment shall be made on the preceding Banking Day.
12.5 Interest and any other payments hereunder of an annual nature shall accrue from day to day and be calculated on the actual number of days elapsed on the basis of a 360 days year.
12.6 If any amount of Principal is for any reason repaid on a day other than a Repayment Date, the Borrower shall pay to the Agent on demand such amount as may be necessary to compensate the Agent and the Banks for any loss, premium or penalty incurred by them in respect of the liquidation or reemployment of funds borrowed for the purpose of maintaining the amount repaid.
12.7 The Borrower shall promptly, on demand by a Bank, pay to that Bank the amount of any increased cost relating to this Loan Agreement incurred by it as a result of:
(a) any change in, or any change in the interpretation or application by any competent authority of, any relevant la...
Payments and Calculations. 18.1 Each repayment of, or payment in respect of, the Advance or an Unpaid Sum or a part thereof shall be made in the currency in which the Advance or such Unpaid Sum is denominated.
18.2 Each payment pursuant to Clauses 14.1, 15.2, 15.3 or 16.1 shall be made in the currency in which the relevant liability was incurred.
18.3 On each date when an amount is due from any Obligor under any Transaction Document to any Finance Party in Dollars or any other currency, then such Obligor shall make the same available before 10.00 a.m. (New York time or, in the case of any currency other than Dollars, the time of the principal financial centre of the country of issue of the relevant currency) by payment in Dollars or, as the case may be, such other currency and in same day funds (being, in the case of Dollars, funds settled through the New York Clearing House Interbank Payment System on a same day basis or such other funds as may for the time being be customary for the settlement in New York of international banking transactions in Dollars or, in the case of any other currency, funds settled as is customary for such currency in the principal financial centre for such currency) to, in the case of Dollars, the account specified below (or to such other account in New York as the Facility Agent designates to the Borrower from time to time by not less than five (5) Business Days’ prior written notice): Bank: [ ] SWIFT Code: [ ] Account Number: [ ] Account Name: [ ] Reference: “[ ]” or such other account as the Facility Agent designates to the Borrower by not less than five (5) Business Days’ prior written notice.
18.4 Promptly upon receipt of any payment under Clause 18.3 which is made for the account of any Finance Party, the Facility Agent shall make available to the relevant Finance Party its proportion of such amount by transfer to such account of such Finance Party as such Finance Party shall have previously notified to the Facility Agent.
18.5 All payments made by an Obligor under any Transaction Document to or for account of any Finance Party shall be made free and clear of and without deduction or withholding for or on account of any set-off or counterclaim.
18.6 The Advance shall be made available by the Lenders paying their relevant proportion to the Facility Agent who in turn shall make each amount available to the Borrower.
18.7 Where a sum is to be paid under any Transaction Document by the Facility Agent for account of another person, the Facility Agent shal...
Payments and Calculations. 11.01 All payments to be made by the Companies to the Agent for the Lenders under this Agreement, the Note and any of the Security Documents to which the Companies are a party shall be made by not later than 11.00 a.m. (New York City time) on the due date in same day Dollar funds settled through the New York Interbank Payments System (or in such other Dollar funds and/or settled in such other manner as the Agent shall specify as being customary at the time for the settlement of transactions of the type contemplated by this Agreement) to the Agent, or to such other account with such other bank as the Agent shall from time to time notify to the Companies.
11.02 If any sum payable by the Companies under this Agreement, the Note or any of the Security Documents to which any of the Companies is a party shall become due on a day which is not a Business Day, the due date therefor shall be extended to the next succeeding Business Day, unless such Business Day falls in the next calendar month, in which event such due date shall be the immediately preceding Business Day, and interest shall be payable on such sum during any such extension at the rate payable on the original due date.
11.03 The Agent shall maintain accounts showing the amounts from time to time lent by the Lenders under this Agreement, and all other sums owing by the Companies under this Agreement, the Note and the Security Documents and all payments in respect thereof made by the Companies from time to time. Such accounts, in the absence of manifest error, shall be conclusive evidence as to any amounts from time to time owing by the Companies under this Agreement, the Note and the Security Documents.
11.04 All payments of interest, commitment fees and any other payments hereunder of an annual or periodic nature shall accrue from day-to-day and shall be calculated on the basis of the actual number of days elapsed in a 360 day year.
Payments and Calculations. 16.1 Currency and method of payments. All payments to be made:
(a) by the Lenders to the Agent; or
(b) by the Borrower to the Agent, the Security Trustee or any Lender under a Finance Document shall be made to the Agent or to the Security Trustee, in the case of an amount payable to it:
(i) by not later than 11.00 a.m. (Piraeus time) on the due date;
(ii) in same day Dollar funds settled through the New York Clearing House Interbank Payments System (or in such other Dollar funds and/or settled in such other manner as the Agent shall specify as being customary at the time for the settlement of international transactions of the type contemplated by this Agreement);
(iii) if in Dollars, to the account of the Agent at Bank of New York, USA or credit to the account of the Lender (account number 8033138548) or to such other account with such other bank as the Agent may from time to time notify to the Borrower and the other Creditor Parties; and
(iv) in the case of an amount payable to the Security Trustee, to such account as it may from time to time notify to the Borrower and the other Creditor Parties.
Payments and Calculations. Payments between Parent and Sub ------------------------- shall be made with respect to all Combined Taxes, and the calculation and recalculation of the amounts of such payments, and the review, approval and timing of such payments, shall be similar to and consistent with the procedures set out in Section 4.
Payments and Calculations. Currency and method of payments
Payments and Calculations. 8.1 On each date on which these Subordinated VLN Conditions require an amount to be paid by the Master Purchaser in respect of the Subordinated VLN, the Master Purchaser shall make the same available to the Subordinated VLN Holder by payment in [EUR/GBP/USD](6) and in immediately available cleared funds to the Subordinated VLN Holder's [EUR/GBP/USD](7)
Payments and Calculations. Currency and method of payments All payments to be made by the Lenders or by any Borrower under a Finance Document shall be made to the Agent or to the Security Trustee, in the case of an amount payable to it:
(a) by not later than 11.00 a.m. (New York City time) on the due date;
(b) in same day Dollar funds settled through the New York Clearing House Interbank Payments System (or in such other Dollar funds and/or settled in such other manner as the Agent shall specify as being customary at the time for the settlement of international transactions of the type contemplated by this Agreement);
(c) in the case of an amount payable by a Lender to the Agent or by any Borrower to the Agent or any Lender, to the account of the Agent with correspondent bank Bank of America Intl. New York (correspondent bank SWIFT: BOFAUS3N (SWIFT: XXXXXX0X, beneficiary: ABN AMRO Bank N.V. Amsterdam and account number: XX00XXXX0000000000) with reference "$53,000,000 facility re m.v.s NEW YORK, MYRTO and MAIA", or to such other account with such other bank as the Agent may from time to time notify to the Borrowers and the other Creditor Parties; and
(d) in the case of an amount payable to the Security Trustee, to such account as it may from time to time notify to the Borrowers and the other Creditor Parties.
Payments and Calculations. 11.1 All payments to be made by the Borrower hereunder shall be made to such account as notified by the Lender from time to time, and by no later than 11. a.m. Oslo time in NOK in freely transferable funds which are for same day settlement.
11.2 If any amount under the Loan is for any reason repaid on a day other than the which such payment is due under this Credit Facility, the Borrower shall pay to the Lender on demand such amount as may be necessary to compensate the Lender for any loss, premium or penalty incurred by it in respect of the liquidation or reemployment of funds borrowed for the purpose of maintaining the amount repaid.
Payments and Calculations. 8.1 On each date on which these Subordinated VLN Conditions require an amount to be paid by the Master Purchaser in respect of the Subordinated VLN, the Master Purchaser shall make the same available to the Subordinated VLN Holder by payment in [EUR/GBP/USD]6 and in immediately available cleared funds to the Subordinated VLN Holder’s [EUR/GBP/USD]7 Account.
8.2 If the date on which any payment is to be made under the Subordinated VLN Conditions is not a Business Day then the Subordinated VLN Holder shall not be entitled to payment of such amount until the next following Business Day and shall not be entitled to any further interest or other payment in respect of any such delay.
8.3 All payments due and payable by the Master Purchaser in accordance with these Subordinated VLN Conditions shall only be made to the extent that it has sufficient funds available to it in accordance with the terms of the Master Purchaser Deed of Charge.
