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, without setoff or counterclaim, before 12:00 noon Pacific time on the date when due. Payments of principal and/or interest received after 12:00 noon 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) 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 received by Bank under this Agreement when any such allocation or application 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. Bank shall endeavor to provide Borrower notice of any such debit, but failure by Bank to provide such notice shall not limit Bank’s right to make such debits hereunder. These debits shall not constitute a set-off.

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 noon p.m. Pacific time on the date when due. Payments of principal and/or interest received after 12:00 noon 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) 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 received by Bank under this Agreement when any such allocation or application 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. ; provided, however, that Bank shall endeavor to provide Borrower notice of not debit any such debit, but failure by Bank to provide such notice shall not limit Bank’s right deposit account other than the Designated Deposit Account unless the Designated Deposit Account contains insufficient funds to make any principal, any interest payment or payment for any other amount when due, and only after providing written notice to Borrower that such debits hereunderfunds shall be debited from an alternate account. These debits shall not constitute a set-off.

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 noon p.m. Pacific time on the date when due. Payments of principal and/or interest received after 12:00 noon 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) 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 received by Bank under this Agreement when any such allocation or application is not specified elsewhere in this Agreement. (c) Bank may debit any of Borrower’s deposit accounts, including provided that so long as no Event of Default has occurred and is continuing, Bank shall first debit the Designated Deposit Account, and then, if funds are insufficient, any other deposit accounts of Borrower for principal and interest payments or any other amounts Borrower owes Bank when due. Bank shall endeavor to provide promptly notify Borrower notice when it debits Borrower’s accounts for any payments other than on account of any such debitprincipal or interest, but its failure by Bank to provide such notice do so shall not limit Bank’s right to make such debits be a breach hereunder. These debits shall not constitute a set-off.

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 noon Pacific time on the date when due. Payments of principal and/or interest received after 12:00 noon 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) 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 received by Bank under this Agreement when any such allocation or application 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. Bank shall endeavor to provide promptly notify Borrower notice of any such debitdebits, but failure by of Bank to provide such notice so notify Borrower shall not limit be deemed to be a breach of the Agreement by Bank’s right to make such debits hereunder. These debits shall not constitute a set-off.

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 U.S. Dollars, without setoff or counterclaim, before 12:00 noon p.m. Pacific time on the date when due. Payments of principal and/or interest received after 12:00 noon 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) Bank has the exclusive right to determine the order and manner in which all payments with respect to the Obligations may be applied; provided that, so long as no Event of Default is in existence, Bank shall not apply any voluntary prepayment made by Borrower to any LIBOR Advances prior to the end of the Interest Period relating thereto without the consent or direction of Borrower. 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 under this Agreement when any such allocation or application is not specified elsewhere in this Agreement. (c) Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, Account for principal and interest payments or any other amounts Borrower owes Bank when due. Bank shall endeavor to provide notice to Borrower notice of prior to making any such debit, but provided that failure by Bank to provide such notice shall not limit result in any liability to Bank or diminish Bank’s right to make such debits hereunderrights under this Section 2.5(c). These debits shall not constitute a set-off.