Payments by the Borrowers. (a) All payments to be made by the Borrowers shall be made without set-off, recoupment, or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the Agent for the account of the Lenders at the Agent's address set forth in Section 15.8, and shall be made in Dollars and in immediately available funds, no later than 2:00 p.m. (Dallas, Texas time) on the date specified herein. Any payment received by the Agent later than 2:00 p.m. (Dallas, Texas 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, whenever any payment is due on a day other than a Business Day, such payment shall be due 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 the Agent receives notice from the Borrowers prior to the date on which any payment is due to the Lenders that the Borrowers will not make such payment in full as and when required, the Agent may assume that the Borrowers have made such payment in full to the Agent on such date in immediately available funds and the 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 the Borrowers have not made such payment in full to the Agent, each Lender shall repay to the 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.
Appears in 1 contract
Payments by the Borrowers. (a) All payments to be made by the Borrowers any Borrower shall be made without set-off, recoupment, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers any Borrower shall be made to the Agent for the account of the Lenders at the Agent's address set forth in Section 15.8SECTION 16.8, and shall be made in Dollars and in immediately available funds, no later than 2:00 p.m. 12:00 noon (Dallas, Texas New York City time) on the date specified herein. Any payment received by the Agent later than 2:00 p.m. 12:00 noon (Dallas, Texas New York City 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 due 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 the Agent receives notice from the Borrowers a Borrower prior to the date on which any payment is due from such Borrower to the Lenders that the Borrowers such Borrower will not make such payment in full as and when required, the Agent may assume that the Borrowers have such Borrower has made such payment in full to the Agent on such date in immediately available funds and the 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 LenderLender from such Borrower. If and to the extent the Borrowers have a Borrower has not made such payment in full to the Agent, each Lender shall repay to the 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.the
Appears in 1 contract
Payments by the Borrowers. (a) All payments to be made by the Borrowers shall be made without set-off, recoupment, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the Agent for the account of the Lenders Banks at the Agent's address set forth in Section 15.8Payment Office, and shall be made in Dollars dollars and in immediately available funds, no later than 2:00 3:00 p.m. (Dallas, Texas Charlotte time) on the date specified herein. The Agent will promptly distribute to each Bank its Pro Rata Share (or other applicable share as expressly provided herein) of such payment in like funds as received. Any payment received by the Agent later than 2:00 3:00 p.m. (Dallas, Texas Charlotte 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 due 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 the Agent receives notice from the Borrowers applicable Borrower prior to the date on which any payment is due to the Lenders Banks that the Borrowers applicable Borrower will not make such payment in full as and when required, the Agent may assume that the Borrowers have applicable Borrower has made such payment in full to the Agent on such date in immediately available funds and the Agent may (but shall not be so required), in reliance upon such assumption, distribute to each Lender Bank on such due date an amount equal to the amount then due such LenderBank. If and to the extent the Borrowers have applicable Borrower has not made such payment in full to the Agent, each Lender Bank shall repay to the Agent on demand 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 repaid.
Appears in 1 contract
Samples: 364 Day Revolving Credit Agreement (Nuveen John Company)
Payments by the Borrowers. (a) All payments to be made by the Borrowers shall be made without set-off, recoupment, or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the Agent Agent, for the account of the Lenders Lenders, at the Agent's ’s address set forth in Section 15.8, and shall be made in Dollars and in immediately available funds, no later than 2:00 p.m. (Dallas, Texas time) on the date specified herein. Any payment received by the Agent later than 2:00 p.m. (Dallas, Texas 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, whenever Whenever any payment is due on a day other than a Business Day, such payment shall be due 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 the Agent receives notice from the Borrowers prior to the date on which any payment is due to the Lenders that the Borrowers will not make such payment in full as and when required, the Agent may assume that the Borrowers have made such payment in full to the Agent on such date in immediately available funds and the 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 the Borrowers have not made such payment in full to the Agent, each Lender shall repay to the 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.
Appears in 1 contract
Samples: Loan and Security Agreement (Trump Atlantic City Funding Ii Inc)
Payments by the Borrowers. (a) All payments to be made by the Borrowers any Borrower shall be made without set-off, recoupment, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers any Borrower shall be made to the Agent for the account of the Lenders at the Agent's address set forth in Section 15.8, and shall be made in Dollars and in immediately available funds, no later than 2:00 3:00 p.m. (Dallas, Texas New York City time) on the date specified herein. Any payment received by the Agent later than 2:00 3:00 p.m. (Dallas, Texas New York City time) shall be deemed to have been received on the following Business Day and any applicable interest or fee shall continue to accrue.
(ba) 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 due 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.
(cb) Unless the Agent receives notice from the Borrowers prior to the date on which any payment is due to the Lenders that the Borrowers will not make such payment in full as and when required, the Agent may assume that the Borrowers have made such payment in full to the Agent on such date in immediately available funds and the 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 the Borrowers have not made such payment in full to the Agent, each Lender shall repay to the 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.
Appears in 1 contract
Payments by the Borrowers. (a) All payments to be made by the Borrowers any Borrower shall be made without set-off, recoupment, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers any Borrower shall be made to the Agent for the account of the Lenders at the Agent's address set forth in Section 15.8SECTION 16.8, and shall be made in Dollars and in immediately available funds, no later than 2:00 p.m. 12:00 noon (Dallas, Texas New York City time) on the date specified herein. Any payment received by the Agent later than 2:00 p.m. 12:00 noon (Dallas, Texas New York City 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 due 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 the Agent receives notice from the Borrowers a Borrower prior to the date on which any payment is due from such Borrower to the Lenders that the Borrowers such Borrower will not make such payment in full as and when required, the Agent may assume that the Borrowers have such Borrower has made such payment in full to the Agent on such date in immediately available funds and the 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 LenderLender from such Borrower. If and to the extent the Borrowers have a Borrower has not made such payment in full to the Agent, each Lender shall repay to the 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.
Appears in 1 contract
Payments by the Borrowers. (a) All payments to be made by the Borrowers shall be made without set-off, recoupment, or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the Agent for the account of the Lenders at the Agent's address set forth in Section SECTION 15.8, and shall be made in Dollars and in immediately available funds, no later than 2:00 p.m. (Dallas, Texas time) on the date specified herein. Any payment received by the Agent later than 2:00 p.m. (Dallas, Texas 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, whenever Whenever any payment is due on a day other than a Business Day, such payment shall be due 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 the Agent receives notice from the Borrowers prior to the date on which any payment is due to the Lenders that the Borrowers will not make such payment in full as and when required, the Agent may assume that the Borrowers have made such payment in full to the Agent on such date in immediately available funds and the 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 the Borrowers have not made such payment in full to the Agent, each Lender shall repay to the 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.
Appears in 1 contract
Payments by the Borrowers. (a) All payments to be made by the Borrowers a Borrower shall be made without set-off, recoupment, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers a Borrower shall be made to the Agent for the account of the Lenders at the Agent's address set forth in Section 15.8, and shall be made in Dollars and in immediately available funds, no later than 2:00 1:00 p.m. (Dallas, Texas Chicago time) on the date specified herein. Any payment received by the Agent later than 2:00 1:00 p.m. (Dallas, Texas Chicago 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 due 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 the Agent receives notice from the Borrowers a Borrower prior to the date on which any payment is due to the Lenders that the Borrowers such Borrower will not make such payment in full as and when required, the Agent may assume that the Borrowers have such Borrower has made such payment in full to the Agent on such date in immediately available funds and the 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 the Borrowers have such Borrower has not made such payment in full to the Agent, each Lender shall repay to the 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.
Appears in 1 contract
Samples: Loan and Security Agreement (Strategic Distribution Inc)
Payments by the Borrowers. (a) All payments to be made by the Borrowers shall be made without set-off, recoupment, or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the Agent for the account of the Lenders at the Agent's address set forth in Section SECTION 15.8, and shall be made in Dollars and in immediately available funds, no later than 2:00 3:00 p.m. (Dallas, Texas New York time) on the date specified herein. Any payment received by the Agent later than 2:00 3:00 p.m. (DallasNew York, Texas 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, whenever any payment is due on a day other than a Business Day, such payment shall be due 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 the Agent receives notice from the Borrowers prior to the date on which any payment is due to the Lenders that the Borrowers will not make such payment in full as and when required, the Agent may assume that the Borrowers have made such payment in full to the Agent on such date in immediately available funds and the 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 the Borrowers have not made such payment in full to the Agent, each Lender shall repay to the 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.
Appears in 1 contract
Payments by the Borrowers. (a) All payments to be made by the Borrowers each Borrower shall be made without set-offsetoff, recoupment, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers each Borrower shall be made to the Agent for the account of the Lenders at the Agent's address set forth in Section SECTION 15.8, and shall be made in Dollars and in immediately available funds, no later than 2:00 1:00 p.m. (Dallas, Texas Chicago time) on the date specified herein. Any payment received by the Agent later than 2:00 p.m. (Dallas, Texas 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 due 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 the Agent receives notice from the Borrowers prior to the date on which any payment is due to the Lenders that the Borrowers will not make such payment in full as and when required, the Agent may assume that the Borrowers have made such payment in full to the Agent on such date in immediately available funds and the 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 the Borrowers have not made such payment in full to the Agent, each Lender shall repay to the Agent on demand such amount distributed to such Lenderthe Lenders, together with interest thereon at the Federal Funds Rate for each day from the date such amount is distributed to such Lender the Lenders until the date repaid.
Appears in 1 contract
Samples: Loan and Security Agreement (Waxman Industries Inc)
Payments by the Borrowers. (a) All payments to be made by the Borrowers any Borrower shall be made without set-off, recoupment, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers any Borrower shall be made to the Administrative Agent for the account of the Lenders at the Administrative Agent's address set forth in Section 15.816.8, and shall be made in Dollars and in immediately available funds, no later than 2:00 p.m. 12:00 Noon (Dallas, Texas New York time) on the date specified herein. Any payment received by the Administrative Agent later than 2:00 p.m. 12:00 Noon (Dallas, Texas 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 due 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 the Administrative Agent receives notice from the Borrowers applicable Borrower prior to the date on which any payment is due to the Lenders that the Borrowers such Borrower will not make such payment in full as and when required, the Administrative Agent may assume that the Borrowers have made such Borrower shall make such payment in full to the Administrative Agent on such date in immediately available funds and the 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 the Borrowers have any Borrower does not made make such payment in full to the Administrative Agent, each Lender shall repay to the 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.
Appears in 1 contract
Payments by the Borrowers. (a) All payments to be made by the --------------------------- Borrowers shall be made without set-offsetoff, recoupment, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the Agent for the account of the Lenders Lenders, at the Agent's address set forth in Section 15.8, account designated by the Agent and shall be made in Dollars and in immediately available funds, no later than 2:00 3:00 p.m. (Dallas, Texas New York City time) on the date specified herein. Any payment received by the Agent later than 2:00 3:00 p.m. (Dallas, Texas New York City 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 due 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 the Agent receives notice from the Borrowers prior to the date on which any payment is due to the Lenders that the Borrowers will not make such payment in full as and when required, the Agent may assume that the Borrowers have made such payment in full to the Agent on such date in immediately available funds and the 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 the Borrowers have not made such payment in full to the Agent, each Lender shall repay to the 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.
Appears in 1 contract
Payments by the Borrowers. (a) All payments to be made by the Borrowers shall be made without set-off, recoupment, recoupment or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the Agent for the account of the Lenders Banks at the Agent's address set forth in Section 15.8Payment Office, and shall be made in Dollars dollars and in immediately available funds, no later than 2:00 p.m. 10:00 a.m. (Dallas, Texas San Francisco time) on the date specified herein. The Agent will promptly distribute to each Bank its Pro Rata Share (or other applicable share as expressly provided herein) of such payment in like funds as received. Any payment received by the Agent later than 2:00 p.m. 10:00 a.m. (Dallas, Texas San Francisco 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 due 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 the Agent receives notice from the Borrowers prior to the date on which any payment is due to the Lenders Banks that the Borrowers a Borrower will not make such payment in full as and when required, the Agent may assume that the Borrowers have made such payment in full to the Agent on such date in immediately available funds and the Agent may (but shall not be so required), in reliance upon such assumption, distribute to each Lender Bank on such due date an amount equal to the amount then due such LenderBank. If and to the extent the Borrowers have not made such payment in full to the Agent, each Lender Bank shall repay to the Agent on demand 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 repaid.
Appears in 1 contract
Payments by the Borrowers. (a) All payments to be made by the Borrowers shall be made without set-offsetoff, recoupment, or counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the Agent for the account of the Lenders at the Agent's address set forth in Section SECTION 15.8, and shall be made in Dollars and in immediately available funds, no later than 2:00 p.m. (Dallas, Texas time) on the date specified herein. Any payment received by the Agent later than 2:00 p.m. (Dallas, Texas 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", whenever any payment is due on a day other than a Business Day, such payment shall be due 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 the Agent receives notice from the Borrowers prior to the date on which any payment is due to the Lenders that the Borrowers will not make such payment in full as and when required, the Agent may assume that the Borrowers have made such payment in full to the Agent on such date in immediately available funds and the 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 the Borrowers have not made such payment in full to the Agent, each Lender shall repay to the 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.
Appears in 1 contract
Payments by the Borrowers. (a) All payments (including prepayments) to be made by the Borrowers on account of principal, interest, drawings under Letters of Credit, fees and other amounts required hereunder shall be made without set-offoff or counterclaim and shall, recoupment, or counterclaim. Except except as otherwise expressly provided with respect to drawings under Letters of Credit and elsewhere herein, all payments by the Borrowers shall be made to the Administrative Agent for the ratable account of the Lenders relevant Banks at the Administrative Agent's address set forth in Section 15.8Payment Office, and shall be made in Dollars and in immediately available funds, no later than 2:00 p.m. 12:00 noon (Dallas, Texas time) on the date specified herein. The Administrative Agent will promptly distribute to each relevant Bank its share, if any, of such principal, interest, fees or other amounts, in like funds as received. Any payment which is received by the Administrative Agent later than 2:00 p.m. 12:00 noon (Dallas, Texas time) shall be deemed to have been received on the following immediately succeeding Business Day and any applicable interest or fee shall continue to accrueaccrue until such payment is deemed to have been received.
(b) Subject to the provisions set forth in the definition of Interest Period, whenever Whenever any payment is hereunder shall be stated to be due on a day other than a Business Day, such payment shall be due 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 the term of "Interest Period" herein.
(c) Unless the Administrative Agent receives shall have received notice from the Borrowers Borrowers, prior to the date on which any payment is due to the Lenders Banks hereunder, that the Borrowers will not make such payment in full as and when requiredfull, the Administrative Agent may assume that the Borrowers have made such payment in full to the Administrative Agent as required hereunder on such date in immediately available funds and the Administrative Agent may (but shall not be so required), in reliance upon such assumption, distribute cause to be distributed to each Lender relevant Bank on such due date an amount equal to the amount then due such LenderBank. If and to the extent the Borrowers shall not have not made such payment in full to the Administrative Agent, each Lender relevant Bank shall repay to the Administrative Agent on demand 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 the Administrative Agent, at the Federal Funds Rate as in effect for each such day.
Appears in 1 contract
Samples: Credit Agreement (Nexstar Broadcasting of the Wichita Falls LLC)