Common use of Payments by the Borrowers Clause in Contracts

Payments by the Borrowers. (a) All payments (including prepayments) to be made by any Borrower on account of Obligations shall be made without set-off or counterclaim and shall, except as otherwise expressly provided herein, be made to the relevant Lending Office, in the currency in which the relevant type of Obligation was denominated and in immediately available funds, no later than 12:00 noon (local time) unless otherwise agreed, on the date specified herein. Any payment which is received by a Lending Office later than 12:00 noon (local time) shall be deemed to have been received on the immediately succeeding Business Day and any applicable interest or fee shall continue to accrue. (b) Whenever any payment hereunder shall be stated to be due on a day other than a Business Day, such payment shall be made on the 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.

Appears in 2 contracts

Samples: Credit Agreement (Brinks Co), Credit Agreement (Brinks Co)

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Payments by the Borrowers. (a) All payments (including prepayments) to be made by any Borrower on account of Obligations the Borrowers shall be made without set-off off, recoupment or counterclaim and shall, except counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to each Lender, at the relevant Lending Office, account designated by such Lender and shall be made in the currency in which the relevant type of Obligation was denominated Dollars and in immediately available funds, no later than 12:00 noon (local Los Angeles, California time) unless otherwise agreed, on the date specified herein. Any payment which is received by a Lending Office later than 12:00 noon (local time) the Lenders after such time shall be deemed (for purposes of calculating interest only) to have been received on the immediately succeeding following Business Day and any applicable interest or fee shall continue to accrue. (b) Whenever Subject to the provisions set forth in the definition of "Interest Period", whenever any payment hereunder shall be stated to be is due on a day other than a Business Day, such payment shall be made due on the next succeeding 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, subject to the provisions set forth in the definition of "Interest Period" herein.

Appears in 2 contracts

Samples: Loan Agreement (Unova Inc), Loan Agreement (Unitrin Inc)

Payments by the Borrowers. (a) All payments (including prepayments) to be made by any Borrower on account of Obligations the Borrowers shall be made without set-off off, recoupment or counterclaim and shall, except counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the relevant Lending OfficeAgent for the account of the Lenders, at the account designated by the Agent and shall be made in the currency in which the relevant type of Obligation was denominated Dollars and in immediately available funds, no later than 12:00 noon (local Los Angeles, California time) unless otherwise agreed, on the date specified herein. Any payment which is received by a Lending Office later than 12:00 noon (local time) the Agent after such time shall be deemed (for purposes of calculating interest only) to have been received on the immediately succeeding following Business Day and any applicable interest or fee shall continue to accrue. (b) Whenever Subject to the provisions set forth in the definition of "Interest Period", whenever any payment hereunder shall be stated to be is due on a day other than a Business Day, such payment shall be made due on the next succeeding 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, subject to the provisions set forth in the definition of "Interest Period" herein.

Appears in 1 contract

Samples: Credit Agreement (Unova Inc)

Payments by the Borrowers. (a) All payments (including prepayments) to be made by any Borrower on account of Obligations the Borrowers shall be made without set-off off, recoupment or counterclaim and shall, except counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the relevant Lending OfficeLender, at the account designated by the Lender and shall be made in the currency in which the relevant type of Obligation was denominated Dollars and in immediately available funds, no later than 12:00 noon (local Los Angeles time) unless otherwise agreed, on the date specified herein. Any payment which is received by a Lending Office later than 12:00 noon (local time) the Lender after such time shall be deemed (for purposes of calculating interest only) to have been received on the immediately succeeding following Business Day and any applicable interest or fee shall continue to accrue. (b) Whenever Subject to the provisions set forth in the definition of "Interest Period", whenever any payment hereunder shall be stated to be is due on a day other than a Business Day, such payment shall be made due on the next succeeding 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, subject to the provisions set forth in the definition of "Interest Period" herein.

Appears in 1 contract

Samples: Credit Agreement (Spacelabs Medical Inc)

Payments by the Borrowers. (a) All payments (including prepayments) to be made by any Borrower on account of Obligations the Borrowers shall be made without set-off off, recoupment or counterclaim and shall, except counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the relevant Lending OfficeAgent for the account of the Lenders, at the account designated by the Agent and shall be made in the currency in which the relevant type of Obligation was denominated Dollars and in immediately available funds, no later than 12:00 noon (local New York City time) unless otherwise agreed, on the date specified herein. Any payment which is received by a Lending Office later than 12:00 noon (local time) the Agent after such time shall be deemed (for purposes of calculating interest only) to have been received on the immediately succeeding following Business Day and any applicable interest or fee shall continue to accrue. (b) Whenever Subject to the provisions set forth in the definition of “Interest Period”, whenever any payment hereunder shall be stated to be is due on a day other than a Business Day, such payment shall be made due on the next succeeding 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, subject . (c) If any LIBOR Loans are repaid prior to the provisions set forth expiration date of the Interest Period applicable thereto, the Borrowers shall pay to the Lenders the amounts described in the definition of "Interest Period" hereinSection 4.4.

Appears in 1 contract

Samples: Credit Agreement (Anntaylor Stores Corp)

Payments by the Borrowers. (a) All payments (including prepayments) to be made by any Borrower on account of Obligations the Borrowers shall be made without set-off off, recoupment or counterclaim and shall, except counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the relevant Bank at the Bank's Lending Office, and shall be made in the currency in which the relevant type of Obligation was denominated dollars and in immediately available funds, no later than 12:00 noon 11:00 a.m. (local Chicago time) unless otherwise agreed, on the date specified herein. Any payment which is received by a Lending Office the Bank later than 12:00 noon 11:00 a.m. (local Chicago time) shall be deemed to have been received on the immediately succeeding following Business Day and any applicable interest or fee shall continue to accrue. (b) Whenever Subject to the provisions set forth in the definition of "Interest Period" herein, whenever any payment hereunder shall be stated to be is due on a day other than a Business Day, such payment shall be made on the next succeeding 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, subject to the provisions set forth in the definition of "Interest Period" herein.

Appears in 1 contract

Samples: Credit Agreement (Asset Alliance Corp)

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Payments by the Borrowers. (a) All payments (including prepayments) to be made by any Borrower on account of Obligations the Borrowers shall be made without set-off off, recoupment or counterclaim and shall, except counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the relevant Lending OfficeLender, at the account designated by the Lender and shall be made in the currency in which the relevant type of Obligation was denominated Dollars and in immediately available funds, no later than 12:00 noon (local Los Angeles time) unless otherwise agreed, on the date specified herein. Any payment which is received by a Lending Office later than 12:00 noon (local time) the Lender after such time shall be deemed (for purposes of calculating interest only) to have been received on the immediately succeeding following Business Day and any applicable interest or fee shall continue to accrue. (b) Whenever Subject to the provisions set forth in the definition of “Interest Period”, whenever any payment hereunder shall be stated to be is due on a day other than a Business Day, such payment shall be made due on the next succeeding 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, subject to the provisions set forth in the definition of "Interest Period" herein.

Appears in 1 contract

Samples: Credit Agreement (Remedytemp Inc)

Payments by the Borrowers. (a) a. All payments (including prepayments) to be made by any Borrower on account of Obligations the Borrowers shall be made without set-off off, recoupment or counterclaim and shall, except counterclaim. Except as otherwise expressly provided herein, all payments by the Borrowers shall be made to the relevant Lending OfficeLender, at the account designated by the Lender and shall be made in the currency in which the relevant type of Obligation was denominated Dollars and in immediately available funds, no later than 12:00 noon (local Pasadena, California time) unless otherwise agreed, on the date specified herein. Any payment which is received by a Lending Office later than 12:00 noon (local time) the Lender after such time shall be deemed (for purposes of calculating interest only) to have been received on the immediately succeeding following Business Day and any applicable interest or fee shall continue to accrue. (b) Whenever b. Subject to the provisions set forth in the definition of "Interest Period", whenever any payment hereunder shall be stated to be is due on a day other than a Business Day, such payment shall be made due on the next succeeding 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, subject to the provisions set forth in the definition of "Interest Period" herein.

Appears in 1 contract

Samples: Credit Agreement (Meade Instruments Corp)

Payments by the Borrowers. (a) All payments (including prepayments) to be made by any Borrower on account of Obligations shall be made without set-off off, recoupment or counterclaim and shall, except counterclaim. Except as otherwise expressly provided herein, all payments by each Borrower shall be made to the relevant Lending OfficeAgent for the account of the Lenders, at the account designated by the Agent and shall be made in the currency in which the relevant type of Obligation was denominated Dollars and in immediately available funds, no later than 12:00 noon (local London time) unless otherwise agreed, on the date specified herein. Any payment which is received by a Lending Office later than 12:00 noon (local time) the Agent after such time shall be deemed (for purposes of calculating interest only) to have been received on the immediately succeeding following Business Day and any applicable interest or fee shall continue to accrue. (b) Whenever Subject to the provisions set forth in the definition of "Interest Period", whenever any payment hereunder shall be stated to be is due on a day other than a Business Day, such payment shall be made due on the next succeeding 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, subject to the provisions set forth in the definition of "Interest Period" herein.

Appears in 1 contract

Samples: Credit Agreement (3com Corp)

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