Payments; Application of Payments; Automatic Payment Authorization. (a) All payments to be made by Borrowers under any Loan Document, including payments of principal and interest and all fees, charges, expenses, indemnities and reimbursements, shall be made in immediately available funds in Dollars, without setoff, recoupment or counterclaim, before 11:00 a.m. Eastern Time on the date when due. Payments of principal and/or interest received after 11:00 a.m. Eastern Time may, at Agent’s discretion, be considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid.
Appears in 4 contracts
Samples: Credit and Guaranty Agreement (FiscalNote Holdings, Inc.), Loan and Security Agreement (Allurion Technologies Holdings, Inc.), Credit and Guaranty Agreement (FiscalNote Holdings, Inc.)
Payments; Application of Payments; Automatic Payment Authorization. (a) All payments to be made by Borrowers under any Loan Document, including payments of principal and interest and all fees, charges, expenses, indemnities and reimbursements, shall be made in immediately available funds in Dollars, without setoff, recoupment or counterclaim, before 11:00 a.m. 3:00 p.m. Eastern Time on the date when due. Payments of principal and/or interest received after 11:00 a.m. 3:00 p.m. Eastern Time may, at Agent’s discretion, be are considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid.
Appears in 3 contracts
Samples: Loan and Security Agreement (Colonnade Acquisition Corp.), Loan and Security Agreement (Evelo Biosciences, Inc.), Loan and Security Agreement (Evelo Biosciences, Inc.)
Payments; Application of Payments; Automatic Payment Authorization. (a) All payments to be made by Borrowers under any Loan Document, including payments of principal and interest and all fees, charges, expenses, indemnities and reimbursements, shall be made in immediately available funds in Dollars, without setoff, recoupment or counterclaim, before 11:00 a.m. 2:00 p.m. Eastern Time on the date when due. Payments of principal and/or interest received after 11:00 a.m. 2:00 p.m. Eastern Time may, at Agent’s discretion, be considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid.
Appears in 2 contracts
Samples: Loan and Security Agreement (EBR Systems, Inc.), Loan and Security Agreement (Brilliant Earth Group, Inc.)
Payments; Application of Payments; Automatic Payment Authorization. (a) All payments to be made by Borrowers under any Loan Document, including payments of principal and interest and all fees, charges, expenses, indemnities and reimbursements, shall be made in immediately available funds in Dollars, without setoff, recoupment or counterclaimcounterclaim (subject to Section 2.7(b)), before 11:00 a.m. Eastern Time on the date when due. Payments of principal and/or interest received after 11:00 a.m. Eastern Time may, at Agent’s discretion, be considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment shall be due the next Business Day, and additional fees or interest, as applicable, shall continue to accrue until paid.
Appears in 1 contract
Samples: Loan and Security Agreement (Tracon Pharmaceuticals, Inc.)
