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, without setoff or counterclaim, before 12:00 p.m. Pacific Time on the date when due. Payments of principal and/or interest received after 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. (b) Unless otherwise provided in this Agreement and so long as no Event of Default has occurred and is continuing, amounts received by Bank on account of the Obligations shall be applied, first, to payment of that portion of the Obligations constituting interest on the Term Loan and then to interest on the Advances, second, to payment of that portion of the Obligations constituting unpaid principal of the Term Loan and then to unpaid principal on the Advances, and, finally, to payment of that portion of the Obligations constituting other amounts owing by Borrower to Bank, including, without limitation, any fees or Bank Expenses. (c) Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Bank when due. These debits shall not constitute a set-off.
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Samples: Loan and Security Agreement (Zoosk, Inc), Loan and Security Agreement (Zoosk, Inc), Loan and Security Agreement (Zoosk, Inc)
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, without setoff or counterclaim, before 12:00 p.m. Pacific Time time on the date when due. Payments of principal and/or interest received after 12:00 p.m. Pacific Time 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. [****] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.
(b) Unless Bank has the exclusive right to determine the order and manner in which all payments with respect to the Obligations may be applied. Borrower shall have no right to specify the order or the accounts to which Bank shall allocate or apply any payments required to be made by Borrower to Bank or otherwise provided in this Agreement and so long as no Event of Default has occurred and is continuing, amounts received by Bank on account of the Obligations shall be applied, first, to payment of that portion of the Obligations constituting interest on the Term Loan and then to interest on the Advances, second, to payment of that portion of the Obligations constituting unpaid principal of the Term Loan and then to unpaid principal on the Advances, and, finally, to payment of that portion of the Obligations constituting other amounts owing by Borrower to Bank, including, without limitation, under this Agreement when any fees such allocation or Bank Expensesapplication is not specified elsewhere in this Agreement.
(c) Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Bank when due. These debits shall not constitute a set-off.
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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, without setoff or counterclaim, before 12:00 p.m. noon Pacific Time time on the date when due. Payments of principal and/or interest received after 12:00 p.m. noon Pacific Time 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.
(b) Unless otherwise provided in this Agreement and so long as no Agreement, unless an Event of Default has occurred and is continuing, amounts received by Bank on account shall apply all sums received, including collections of Accounts, in payment of the Obligations shall be appliedhereunder first to accrued and unpaid Bank Expenses, first, to payment of that portion of the Obligations constituting interest on the Term Loan and then to interest on the Advances, second, to payment of that portion of the Obligations constituting unpaid principal of the Term Loan and then to unpaid principal on principal, provided, however, amounts debited from Borrower’s deposit accounts with respect to interest as provided in Section 2.3(d) shall be credited to interest. Upon the Advancesoccurrence and during the continuation of any Event of Default, and, finally, to payment application of that portion of the Obligations constituting other amounts owing payments and proceeds shall be governed by Borrower to Bank, including, without limitation, any fees or Bank ExpensesSection 9.4.
(c) Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Bank when due. These debits shall not constitute a set-off.
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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, without setoff or counterclaim, before 12:00 p.m. Pacific Time time on the date when due. Payments of principal and/or interest received after 12:00 p.m. Pacific Time 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.
(b) Unless Bank has the right to determine in its good faith business judgment the order and manner in which all payments with respect to the Obligations may be applied and Borrower shall have no right to specify the order or the accounts to which Bank shall allocate or apply any payments required to be made by Borrower to Bank or otherwise provided received by Bank under this Agreement when any such allocation or application is not specified elsewhere in this Agreement and so long as Agreement; provided however, that when no Event of Default has occurred and is continuingcontinuing (and so long as none would occur by such payment allocation), amounts received by Bank on account Borrower may designate the allocation of the payments in respect of Obligations shall be applied, first, to payment of that portion of the Obligations constituting interest on the Term Loan are then due and then to interest on the Advances, second, to payment of that portion of the Obligations constituting unpaid principal of the Term Loan owing and then to unpaid principal on the Advances, and, finally, to payment of that portion of the Obligations constituting other amounts owing by Borrower to Bank, including, without limitation, any fees or Bank Expensesnot past due.
(c) Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Bank when due. These debits shall not constitute a set-off.
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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, without setoff or counterclaim, before 12:00 p.m. Pacific Time time on the date when due. Payments of principal and/or interest received after 12:00 p.m. Pacific Time 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.
(b) Unless otherwise provided in this Agreement and so long as no Prior to the existence of an Event of Default Default, payments shall be applied as directed by Borrower. Upon the occurrence and during the continuance of an Event of Default, Bank has occurred the exclusive right to determine the order and is continuing, amounts manner in which all payments with respect to the Obligations may be applied and Borrower shall have no right to specify the order or the accounts to which Bank shall allocate or apply any payments required to be made by Borrower to Bank or otherwise received by Bank on account of the Obligations shall be applied, first, to payment of that portion of the Obligations constituting interest on the Term Loan and then to interest on the Advances, second, to payment of that portion of the Obligations constituting unpaid principal of the Term Loan and then to unpaid principal on the Advances, and, finally, to payment of that portion of the Obligations constituting other amounts owing by Borrower to Bank, including, without limitation, under this Agreement when any fees such allocation or Bank Expensesapplication is not specified elsewhere in this Agreement.
(c) Only after first attempting to debit the Designated Deposit Account, Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Bank when due. These debits shall not constitute a set-off.
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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, without setoff or counterclaim, before 12:00 2:00 p.m. Pacific Time time on the date when due. Payments of principal and/or interest received after 12:00 2:00 p.m. Pacific Time 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.
(b) Unless Except with respect to prepayments in accordance with Section 2.1.1(c), Bank has the exclusive right to determine the order and manner in which all payments with respect to the Obligations may be applied. Borrower shall have no right to specify the order or the accounts to which Bank shall allocate or apply any payments required to be made by Borrower to Bank or otherwise provided in this Agreement and so long as no Event of Default has occurred and is continuing, amounts received by Bank on account of the Obligations shall be applied, first, to payment of that portion of the Obligations constituting interest on the Term Loan and then to interest on the Advances, second, to payment of that portion of the Obligations constituting unpaid principal of the Term Loan and then to unpaid principal on the Advances, and, finally, to payment of that portion of the Obligations constituting other amounts owing by Borrower to Bank, including, without limitation, under this Agreement when any fees such allocation or Bank Expensesapplication is not specified elsewhere in this Agreement.
(c) Bank may debit any of Borrower’s deposit accountsaccounts held by Bank (and any of Borrower’s deposit accounts whether or not held at Bank while an Event of Default has occurred and is continuing), including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Bank when due, provided that Bank shall first debit the Designated Deposit Account for all regularly scheduled payments. These debits shall not constitute a set-off.
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