Common use of Payments Computations Clause in Contracts

Payments Computations. (a) The Issuer will make each cash payment under this Agreement and the Sellers’ Secured Notes not later than 12:00 noon (New York City time) on the day when due, in lawful money of the United States of America and in immediately available funds, and freely transferable to the Agent’s Account. All payments received by the Agent after 12:00 noon (New York City time) on any Business Day will be credited to the Sellers’ Secured Note Account on the next succeeding Business Day. All payments shall be made by the Issuer without set-off, counterclaim, deduction or other defense to the Agent and the Holders. Except as provided in Section 4.02(b) and as provided in the Intercreditor Agreements, after receipt of any cash payment, the Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal ratably to the Holders in accordance with their Pro Rata Shares and like funds relating to the payment of any other amount payable to any Holder to such Holder, in each case to be applied in accordance with the terms of this Agreement, provided that the Agent will cause to be distributed all interest and fees received from or for the account of the Issuer not less than once each month and in any event not more than ten Business Days after receipt thereof. The Holders and the Issuer hereby authorize the Agent to, and the Agent may, from time to time, charge the Sellers’ Secured Note Account of the Issuer with any amount due and payable by the Issuer under any Sellers’ Secured Note Document. Each of the Holders and the Issuer agrees that the Agent shall have the right to make such charges whether or not any Default or Event of Default shall have occurred and be continuing. Any amount charged to the Sellers’ Secured Note Account of the Issuer shall be deemed an Obligation under this Agreement and shall bear interest as provided hereunder as if it had originally been part of the outstanding principal of the Sellers’ Secured Notes. The Holders and the Issuer confirm that any charges which the Agent may so make to the Sellers’ Secured Note Account of the Issuer as herein provided will be made as an accommodation to the Issuer and solely at the Agent’s discretion. Whenever any payment to be made under any such Sellers’ Secured Note Document 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.

Payments Computations. (a) The Issuer will make each cash payment under this Agreement and the Sellers’ Secured Notes not later than 12:00 noon (New York City time) on the day when due, in lawful money of the United States of America and in immediately available funds, and freely transferable to the Agent’s Account. All payments received by the Agent after 12:00 noon (New York City time) on any Business Day will be credited to the Sellers’ Secured Note Account on the next succeeding Business Day. All payments shall be made by the Issuer without set-off, counterclaim, deduction or other defense to the Agent and the Holders. Except as provided in Section 4.02(b) and as provided in the Intercreditor Agreements), after receipt of any cash payment, the Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal ratably to the Holders in accordance with their Pro Rata Shares and like funds relating to the payment of any other amount payable to any Holder to such Holder, in each case to be applied in accordance with the terms of this Agreement, provided that the Agent will cause to be distributed all interest and fees received from or for the account of the Issuer not less than once each month and in any event not more than ten Business Days after receipt thereof. The Holders and the Issuer hereby authorize the Agent to, and the Agent may, from time to time, charge the Sellers’ Secured Note Account of the Issuer with any amount due and payable by the Issuer under any Sellers’ Secured Note Document. Each of the Holders and the Issuer agrees that the Agent shall have the right to make such charges whether or not any Default or Event of Default shall have occurred and be continuing. Any amount charged to the Sellers’ Secured Note Account of the Issuer shall be deemed an Obligation under this Agreement and shall bear interest as provided hereunder as if it had originally been part of the outstanding principal of the Sellers’ Secured Notes. The Holders and the Issuer confirm that any charges which the Agent may so make to the Sellers’ Secured Note Account of the Issuer as herein provided will be made as an accommodation to the Issuer and solely at the Agent’s discretion. Whenever any payment to be made under any such Sellers’ Secured Note Document 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.

Payments Computations. (a) The Issuer will make each cash payment under this Agreement and the Sellers’ Secured Notes not later than 12:00 noon (New York City time) on the day when due, in lawful money of the United States of America and in immediately available funds, and freely transferable to the Agent’s Account. All payments received by the Agent after 12:00 noon (New York City time) on any Business Day will be credited to the Sellers’ Secured Note Account on the next succeeding Business Day. All payments shall be made by the Issuer without set-off, counterclaim, deduction or other defense to the Agent and the Holders. Except as provided in Section 4.02(b) and as provided in the Intercreditor Agreements), after receipt of any cash paymentreceipt, the Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal ratably to the Holders in accordance with their Pro Rata Shares and like funds relating to the payment of any other amount payable to any Holder to such Holder, in each case to be applied in accordance with the terms of this Agreement, provided that the Agent will cause to be distributed all interest and fees received from or for the account of the Issuer not less than once each month and in any event not more than ten Business Days after receipt thereof. The Holders and the Issuer hereby authorize the Agent to, and the Agent may, from time to time, charge the Sellers’ Secured Note Account of the Issuer with any amount due and payable by the Issuer under any Sellers’ Secured Note Document. Each of the Holders and the Issuer agrees that the Agent shall have the right to make such charges whether or not any Default or Event of Default shall have occurred and be continuing. Any amount charged to the Sellers’ Secured Note Account of the Issuer shall be deemed an Obligation under this Agreement and shall bear interest as provided hereunder as if it had originally been part of the outstanding principal of the Sellers’ Secured Notes. The Holders and the Issuer confirm that any charges which the Agent may so make to the Sellers’ Secured Note Account of the Issuer as herein provided will be made as an accommodation to the Issuer and solely at the Agent’s discretion. Whenever any payment to be made under any such Sellers’ Secured Note Document 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. All computations of fees shall be made by the Agent on the basis of a year of 360 days for the actual number of days (including the first day but excluding the last day) occurring in the period for which such fees are payable. Each determination by the Agent of an interest rate or fees hereunder shall be conclusive and binding for all purposes in the absence of manifest error.

Payments Computations. (a) The Issuer will make each cash Payments by the Borrower. Each payment under this Agreement of principal of and ------------------------ interest on Loans, LOC Obligations and fees hereunder (other than fees payable directly to the Sellers’ Secured Notes Issuing Lenders) shall be paid not later than 12:00 noon 3:00 P.M. (New York City timelocal time in Charlotte, North Carolina) on the day date when due, in lawful money of the United States of America and in Federal or other funds immediately available fundsin Charlotte, and freely transferable North Carolina, to the Agent’s AccountAdministrative Agent at its Agency Services Address. All payments received Each such payment shall be made irrespective of any set-off, counterclaim or defense to payment which might in the absence of this provision be asserted by the Borrower or any Affiliate against the Administrative Agent or any Lender. Payments received after 12:00 noon 3:00 P.M. (New York City timelocal time in Charlotte, North Carolina) shall be deemed to have been received on the next Business Day. The Borrower shall, at the time it makes any Business Day will be credited payments under this Agreement, specify to the Sellers’ Secured Note Account Administrative Agent the Loan, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and if it fails to specify or if such application would be inconsistent with the terms hereof, the Administrative Agent shall, subject to Section 3.12, distribute such payment to the Lenders in ------------ such manner as the Administrative Agent may deem appropriate). The Administrative Agent will distribute such payments to the applicable Lenders on the date of receipt thereof, if such payment is received prior to 1:00 P.M.; otherwise the Administrative Agent will distribute such payment to the applicable Lenders on the next succeeding Business Day. All payments shall be made by the Issuer without set-off, counterclaim, deduction or other defense to the Agent and the Holders. Except as provided in Section 4.02(b) and as provided in the Intercreditor Agreements, after receipt of any cash payment, the Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal ratably to the Holders in accordance with their Pro Rata Shares and like funds relating to the payment of any other amount payable to any Holder to such Holder, in each case to be applied in accordance with the terms of this Agreement, provided that the Agent will cause to be distributed all interest and fees received from or for the account of the Issuer not less than once each month and in any event not more than ten Business Days after receipt thereof. The Holders and the Issuer hereby authorize the Agent to, and the Agent may, from time to time, charge the Sellers’ Secured Note Account of the Issuer with any amount due and payable by the Issuer under any Sellers’ Secured Note Document. Each of the Holders and the Issuer agrees that the Agent shall have the right to make such charges whether or not any Default or Event of Default shall have occurred and be continuing. Any amount charged to the Sellers’ Secured Note Account of the Issuer shall be deemed an Obligation under this Agreement and shall bear interest as provided hereunder as if it had originally been part of the outstanding principal of the Sellers’ Secured Notes. The Holders and the Issuer confirm that any charges which the Agent may so make to the Sellers’ Secured Note Account of the Issuer as herein provided will be made as an accommodation to the Issuer and solely at the Agent’s discretion. Whenever any payment to be made under any such Sellers’ Secured Note Document hereunder shall be stated to be due on a day other than which is not a Business Day, such the date for payment thereof shall be made on extended to the next succeeding Business Day and such extension of time shall in such case be included unless (in the computation case of Eurodollar Loans) such Business Day falls in another calendar month, in which case the date for payment thereof shall be the next preceding Business Day. If the date for any payment of principal is extended by operation of law or otherwise, interest or fees, as thereon shall be payable for such extended time. The Borrower hereby authorizes and directs the case may beAdministrative Agent to debit any account maintained by the Borrower with the Administrative Agent to pay when due any amounts required to be paid from time to time under this Agreement.