Common use of Payments by Company Clause in Contracts

Payments by Company. (a) All payments to be made by Company shall be made without set-off, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by Company shall be made to Administrative Agent for the account of Lenders at Administrative Agent's Payment Office, and shall be made in dollars and in immediately available funds, no later than 1:00 p.m. (New York time) on the date specified herein. Administrative Agent will promptly distribute to each Lender its Pro Rata Share (or other applicable share as expressly provided herein) of such payment in like funds as received. Any payment received by Administrative Agent later than 1:00 p.m. (New York time) shall be deemed to have been received on the following Business Day and any applicable interest or fee shall continue to accrue. (b) Subject to the provisions set forth in the definition of "Interest Period" herein, whenever any payment is due on a day other than a Business Day, such payment shall be made on the following Business Day, and such extension of time shall in such case be included in the computation of interest or fees, as the case may be. (c) Unless Administrative Agent receives notice from Company before the date on which any payment is due to Lenders that Company will not make such payment in full as and when required, Administrative Agent may assume that Company has made such payment in full to Administrative Agent on such date in immediately available funds and Administrative Agent may (but shall not be so required), in reliance upon such assumption, distribute to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent Company has not made such payment in full to Administrative Agent, each Lender shall repay to Administrative Agent on demand such amount distributed to such Lender, together with interest thereon at the Federal Funds Rate for each day from the date such amount is distributed to such Lender until the date repaid.

Payments by Company. (a) All payments (including prepayments) to be made by Company on account of principal, interest, fees and other amounts required hereunder shall be made without set-off, recoupment off or counterclaim. Except as otherwise expressly provided herein, all payments by Company counterclaim and shall be made in Dollars to Administrative Agent for the ratable account of Lenders Banks at Administrative Agent's Payment Office, and . Such payments shall be made in dollars and in immediately available funds, funds and no later than 1:00 p.m. (New York 11:00 a.m. San Francisco, California time) , on the date specified herein. Administrative Agent will promptly distribute to each Lender Bank the amount of its Pro Rata Share Commitment Percentage (or other applicable share as expressly provided herein) of such payment principal, interest, fees or other amounts, in like funds as received. Any payment which is received by Administrative Agent later than 1:00 p.m. (New York 11:00 a.m. San Francisco, California time) , shall be deemed to have been received on the following immediately succeeding Business Day and any applicable interest or fee shall continue to accrue. (b) Subject to the provisions set forth in the definition of "Interest Period" herein, whenever Whenever any payment is hereunder shall be stated to be due on a day other than a Business Day, such payment shall be made on the following next succeeding Business Day, and such extension of time shall in such case be included in the computation of interest or fees, as the case may be, subject to the provisions set forth in the definition of "Interest Period" herein. (c) Unless Administrative Agent receives shall have received notice from Company before prior to the date on which any payment is due to Lenders Banks hereunder from Company that Company will not make such payment in full as and when requiredfull, Administrative Agent may assume that Company has made such payment in full to Administrative Agent on such date in immediately available funds and Administrative Agent may (but shall not be so required), in reliance upon such assumption, distribute cause to be distributed to each Lender Bank on such due date an amount equal to the amount then due such LenderBank. If and to the extent Company has shall not have made such payment in full to Administrative Agent, each Lender Bank shall repay to Administrative Agent Agent, on demand request made by Administrative Agent, such amount distributed to such LenderBank, together with interest thereon at the Federal Funds Rate for each day from the date such amount is distributed to such Lender Bank until the date repaidsuch Bank repays such amount to Administrative Agent, at the Federal Funds Rate as in effect for each such day.