Common use of Payments, Interest Rate Computations, Other Computations, etc Clause in Contracts

Payments, Interest Rate Computations, Other Computations, etc. All payments by the Issuer of the principal of or interest on the Notes shall be made by the Issuer to the Noteholders pro rata according to the unpaid principal amounts of their respective Notes. All other amounts payable to any Noteholder under this Agreement or the Notes shall be paid to such Noteholder entitled thereto. Subject to Section 1.4, all such payments required to be made to such Noteholder shall be made, without setoff, deduction or counterclaim, not later than 2:00 p.m., New York City time, on the date due, in immediately available funds, to such account as each Noteholder shall specify from time to time by notice to the Issuer. Funds received after that time shall be deemed to have been received by the Noteholders on the next following Business Day. All interest shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall be made on the immediately succeeding Business Day and such extension of time shall be included in the computation of accrued interest.

Appears in 2 contracts

Samples: Purchase Agreement (Horizon Offshore Inc), Purchase Agreement (Horizon Offshore Inc)

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Payments, Interest Rate Computations, Other Computations, etc. All payments by the Issuer of the principal of or interest on the Notes shall be made by the Issuer to the Noteholders pro rata according to the unpaid principal amounts of their respective Notes. All other amounts payable to any Noteholder under this Agreement or the Notes any other Document shall be paid to such Noteholder entitled thereto. Subject to Section 1.42.4, all such payments required to be made to such Noteholder shall be made, without setoff, deduction or counterclaim, not later than 2:00 p.m., New York City time, on the date due, in immediately available funds, to such account as each Noteholder shall specify from time to time by notice to the Issuer. Funds received after that time shall be deemed to have been received by the Noteholders on the next following Business Day. All interest shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall be made on the immediately succeeding Business Day and such extension of time shall be included in the computation of accrued interest.

Appears in 1 contract

Samples: Purchase Agreement (Horizon Offshore Inc)

Payments, Interest Rate Computations, Other Computations, etc. All payments by the Issuer of the principal of or interest on the Notes shall be made by the Issuer to the Noteholders pro rata according to the unpaid principal amounts of their respective Notes. All other amounts payable to any Noteholder Holder under this Agreement or the Notes any other Document shall be paid to such Noteholder Holder entitled thereto. Subject to Section 1.42.4, all such payments required to be made to such Noteholder Holder shall be made, without setoff, deduction or counterclaim, not later than 2:00 p.m., New York City time, on the date due, in immediately available funds, to such account as each Noteholder Holder shall specify from time to time by notice to the Issuer. Funds received after that time shall be deemed to have been received by the Noteholders Holders on the next following Business Day. All interest shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Whenever any payment to be made shall otherwise be due on a day which is not a Business Day, such payment shall be made on the immediately succeeding Business Day and such extension of time shall be included in the computation of accrued interest.

Appears in 1 contract

Samples: Purchase Agreement (Horizon Offshore Inc)

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Payments, Interest Rate Computations, Other Computations, etc. All payments by the Issuer Company of the principal amount of or the Bridge Notes pursuant to SECTION 2.02 and all regularly scheduled payments of interest on the Bridge Notes pursuant to SECTION 2.01 shall be made by the Issuer Company to the Noteholders pro rata Holders PRO RATA according to the unpaid principal amounts of their respective Bridge Notes. All other amounts payable to any Noteholder under this Agreement or the Notes shall be paid to such Noteholder entitled thereto. Subject to Section 1.4, all such payments required to be made to such Noteholder each Holder shall be made, without setoff, deduction or counterclaim, not later than 2:00 p.m., 12:00 Noon (New York City time, ) on the date due, in immediately available funds, to such account as each Noteholder Holder shall specify from time to time by notice to the IssuerCompany. Funds received after that time shall be deemed to have been received by the Noteholders Holders on the next following Business Day. All interest shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Whenever any payment to be made hereunder shall otherwise be due on a day which is not a Business Day, such payment shall be made on the immediately next succeeding Business Day and and, with respect to payments of principal, such extension of time shall be included in the computation of accrued interest.

Appears in 1 contract

Samples: Subordinated Note Purchase Agreement (Ramsay Health Care Inc)

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