Common use of Payments; Application of Payments; Debit of Accounts Clause in Contracts

Payments; Application of Payments; Debit of Accounts. (a) All payments to be made by Borrower under any Loan Document shall be made in immediately available funds in Dollars to Lender at Xxxxxx’s office in immediately available funds on the date due, without setoff or counterclaim, before 3:00 p.m. Pacific time. Payments of principal and/or interest received after 3:00 p.m. Pacific time 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 2 contracts

Samples: Subordinate Loan and Security Agreement (S&W Seed Co), Subordinate Loan and Security Agreement (S&W Seed Co)

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Payments; Application of Payments; Debit of Accounts. (a) All payments to be made by Borrower under any Loan Document shall be made in immediately available funds in Dollars to Lender at Xxxxxx’s office in immediately available funds on the date dueDollars, without setoff or counterclaim, before 3:00 12:00 p.m. Eastern/Pacific timetime on the date when due. Payments of principal and/or interest received after 3:00 12:00 p.m. Eastern/Pacific time 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 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (RingCentral Inc)

Payments; Application of Payments; Debit of Accounts. (a) All payments (including prepayments) to be made by Borrower under any Loan Document shall be made in immediately available funds in Dollars to Lender at Xxxxxx’s office in immediately available funds on the date dueU.S. Dollars, without setoff or counterclaim, before 3:00 12:00 p.m. Pacific timetime on the date when due. Payments of principal and/or interest received after 3:00 12:00 p.m. Pacific time 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 1 contract

Samples: Loan and Security Agreement (Millennial Media Inc.)

Payments; Application of Payments; Debit of Accounts. (a) All payments (including prepayments) to be made by Borrower under any Loan Document shall be made in immediately available funds in Dollars to Lender at Xxxxxx’s office in immediately available funds Dollars, without setoff, counterclaim, or deduction, before 12:00 p.m. Pacific time on the date when due, without setoff or counterclaim, before 3:00 p.m. Pacific time. Payments of principal and/or interest received after 3:00 12:00 p.m. Pacific time are considered received at the opening of business on the next Business Day. When a payment or performance is due on a day that is not a Business Day, the payment or performance shall be due the next Business Day, and and, if applicable, additional fees or interest, as applicable, shall continue to accrue until paid.

Appears in 1 contract

Samples: Loan and Security Agreement (Mitek Systems Inc)

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Payments; Application of Payments; Debit of Accounts. (a) All payments to be made by Borrower under any Loan Document shall be made in immediately available funds in Dollars to Lender at XxxxxxLxxxxx’s office in immediately available funds on the date due, without setoff or counterclaim, before 3:00 p.m. Pacific time. Payments of principal and/or interest received after 3:00 p.m. Pacific time 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 1 contract

Samples: Subordinate Loan and Security Agreement (S&W Seed Co)

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