Common use of Payments, Computations, Etc Clause in Contracts

Payments, Computations, Etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 1:00 p.m., New York City time, on such due date shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest and fees for LIBO Rate Loans and Base Rate Loans (other than with respect to Base Rate Loans accruing interest based on the Base Rate as compared to Alternate Base Rate) and issuance fees pursuant to Section 3.3.3, in each case shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract. All computations of interest and fees for Base Rate Loans accruing interest based on the Base Rate as compared to Alternate Base Rate shall be made on the basis of a 365/366-day year and actual days elapsed. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “Interest Period” and except with respect to the Maturity Date) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Payments, Computations, Etc. Unless otherwise expressly provided, all payments by the Borrower Borrowers pursuant to this Agreement, the Notes, each Letter of Credit Notes or any other Loan Document shall be made by the Borrower Borrowers to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to shall be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City 11:00 a.m. (Chicago time, ) on the date due, in same day or immediately available funds, to such account with the Agent in Chicago, Illinois as the Administrative Agent shall specify from time to time by notice to the BorrowerBorrowers. Funds received after 1:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business DayDay and any applicable interest or fee shall continue to accrue. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest and fees for LIBO Rate Loans and Base Rate Loans (other than with respect to Base Rate Loans accruing interest based on the Base Rate as compared to Alternate Base Rate) and issuance fees pursuant to Section 3.3.3, in each case shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest is payable over a 360-day year and actual comprised of 360 days elapsed(or, and, in the case of interest on a Base Rate Loan (other than when calculated with respect to LIBO Rate Loansthe Federal Funds Rate), on the expiration of the applicable LIBO contract. All computations of interest and fees for Base Rate Loans accruing interest based on the Base Rate as compared to Alternate Base Rate shall be made on the basis of a 365/366-day year and actual 365 days elapsedor, if appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “"Interest Period” and except " with respect to the Maturity DateLIBO Rate Loans) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment. Notwithstanding any prepayment of a Base Rate Loan or any conversion of a Base Rate Loan to a LIBO Rate Loan, the Agent will calculate and invoice the Borrowers for accrued interest thereon through the date of such prepayment only at the next Quarterly Payment Date.

Payments, Computations, Etc. Unless otherwise expressly provided, all payments by or on behalf of the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m.12:00 noon, New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 1:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest and fees for LIBO Rate Loans and Base Rate Loans (other than with respect to Base Rate Loans accruing interest based on the Base Rate as compared to Alternate Base Rate) and issuance fees pursuant to Section 3.3.3, in each case shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, and, with respect to LIBO Rate Loans, on in the expiration of the applicable LIBO contract. All computations case of interest and fees for on a Base Rate Loans accruing interest Loan based on the Base Rate as compared to Alternate Base Rate shall be made on the basis of a 365/366-day year and actual Administrative Agent’s base rate, 365 days elapsedor, if appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “Interest Period” and except with respect to the Maturity Date”) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment. The Borrower acknowledges that the Lenders’ agreement to the amount of the Applicable Margin and fees payable under the Loan Documents is predicated on, among other things, the delivery by the Obligors pursuant to Section 7.1.1 of accurate and actual reporting of results of operation, and that the financial covenant ratios set forth in a Compliance Certificate shall only be treated by the Secured Parties as presumptive evidence of such actual results. If the actual Net Debt to EBITDA Ratio for any period is higher than that set forth in a Compliance Certificate for such period, then the amount of interest and fees owing for such period shall be established by reference to the actual Net Debt to EBITDA Ratio, and not such ratio set forth in the Compliance Certificate. Promptly, and in any event within three days, following the earlier of (i) the Borrower’s receipt of a notice from the Administrative Agent pursuant to this clause or (ii) the Borrower’s knowledge that the Net Debt to EBITDA Ratio for a particular period was higher than that reported for such period, the Borrower shall pay to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payments all unpaid interest and fees for such period based upon the actual Net Debt to EBITDA Ratio. In no event will the Lenders be required to rebate interest or fees paid by the Borrower, and the payment of incremental interest or fees pursuant to this clause shall not adversely effect (and are without limitation of) the other rights and remedies of the Secured Parties under the Loan Documents.

Payments, Computations, Etc. Unless otherwise expressly provided, all payments by the a Borrower pursuant to this Agreement, the Notes, each Letter of Credit Notes or any other Loan Document shall be made by the such Borrower to the Administrative Agent for the pro rata account of each Lender in the Lenders entitled to receive such paymentamount of its Percentage thereof. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 12:30 p.m., New York City Chicago, Illinois time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the BorrowerCompany. Funds received after 1:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Banking Day. The Company hereby authorizes the Administrative Agent and the Administrative Agent may, in its sole and absolute discretion, provide for the payment of any amounts required to be paid in Dollars which are due under this Agreement or the other Loan Documents, by debiting the Demand Deposit Account for the amount then due; provided, however, that the failure of the Company to maintain sufficient balances in the Demand Deposit Account to provide for such payment shall not affect any Borrower's obligation to pay when due all amounts payable by such Borrower hereunder or under any other Loan Document. The Administrative Agent shall promptly remit in to each Lender, not later than 5:00 p.m. Chicago, Illinois time on the Banking Day received (the Banking Day of receipt to be determined pursuant to this Section 4.7), same day funds in an amount equal to each Lender its such Lender's share, if any, of such payments received by the Administrative Agent from a Borrower for the account of such Lender. All computations of interest and fees for LIBO Rate Loans and Base Rate Loans (other than with respect to Base Rate Loans accruing interest based on the Base Rate as compared to Alternate Base Rate) and issuance fees pursuant to Section 3.3.3, in each case shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO contract. All computations of interest and fees for Base Rate Loans accruing interest based on the Base Rate as compared to Alternate Base Rate shall be made on the basis of a 365/366-day year and actual days elapsed. Whenever any payment to be made shall otherwise be due on a day which is not a Business Banking Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “"Interest Period” and except " with respect to the Maturity DateEurodollar Rate Loans or Eurocurrency Rate Loans) be made on the next succeeding Business Banking Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.

Payments, Computations, Etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to or in respect of this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., 11:00 a.m. (New York City time), on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 1:00 p.m., New York City time, on such due date that time shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest and fees for LIBO (including any Post-Default Rate Loans and Base Rate Loans (other than with respect to Base Rate Loans accruing interest based on the Base Rate as compared to Alternate Base Rate) and issuance fees payments made pursuant to Section 3.3.3, in each case 3.2.2) shall be made computed on the basis of the actual number of days (including the first day but excluding the last day) occurring during the period for which such interest or fee is payable over a 360-day year and actual comprised of 360 days elapsed(or, and, with respect to LIBO in the case of interest on Base Rate Loans, on the expiration of the applicable LIBO contract. All computations of interest and fees for Base Rate Loans accruing interest based on the Base Rate as compared to Alternate Base Rate shall be made on the basis of a 365/366-day year and actual 365 days elapsedor, if appropriate, 366 days). Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “"Interest Period” and except " with respect to the Maturity DateLIBO Rate Loans) be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment. The Agent is authorized to charge any account maintained by the Borrower with it for any Obligations owing to it or any of the Lenders.

Payments, Computations, Etc. Unless otherwise expressly provided, all payments by the Borrower pursuant to this Agreement, the Notes, each Letter of Credit or any other Loan Document shall be made by the Borrower to the Administrative Agent for the pro rata account of the Lenders entitled to receive such payment. All such payments required to be made to the Administrative Agent shall be made, without setoff, deduction or counterclaim, not later than 1:00 p.m., New York City time, on the date due, in same day or immediately available funds, to such account as the Administrative Agent shall specify from time to time by notice to the Borrower. Funds received after 1:00 2:00 p.m., New York City time, on such due date shall be deemed to have been received by the Administrative Agent on the next succeeding Business Day. The Administrative Agent shall promptly remit in same day funds to each Lender its share, if any, of such payments received by the Administrative Agent for the account of such Lender. All computations of interest and fees for LIBO Rate Loans and Base Rate Loans (other than with respect to Base Rate Loans accruing interest based on the Base Rate as compared to Alternate Base Rate) all computations of Letter of Credit fees and issuance fees pursuant to Section 3.3.3, in each case shall be made on the basis of a 360-day year and actual days elapsed, and, with respect to LIBO Rate Loans, on the expiration of the applicable LIBO Rate Loan contract. All computations of interest and fees for Base Rate Loans accruing interest based on (whether calculated at the Federal Funds Rate or the Base Rate as compared to Alternate Base Rate Rate) shall be made on the basis of a 365/366-day year and actual days elapsed. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall (except as otherwise required by clause (c) of the definition of the term “"Interest Period” and except with respect to the Maturity Date") be made on the next succeeding Business Day and such extension of time shall be included in computing interest and fees, if any, in connection with such payment.