Common use of PAYMENTS ON REVOLVING CREDIT NOTES, ETC Clause in Contracts

PAYMENTS ON REVOLVING CREDIT NOTES, ETC. All payments of principal and interest shall be made to the Administrative Agent in immediately available funds for the account of the Lenders by no later than 3:00 p.m. (New York time) on the applicable payment date. The Administrative Agent shall promptly distribute to each Lender its ratable share of the principal and interest received by it for the account of such Lender. Each Lender shall endorse each Revolving Credit Note held by it or otherwise make appropriate book entries evidencing each payment of principal made thereon, it being understood, however, that any Lender's failure to record appropriate information on the grid(s) attached to any such Note shall in no way affect the obligation of the Company under this Agreement or under any such Note. Whenever any payment to be made hereunder, including without limitation, any payment to be made on any Note, shall be stated to be due on a day which is not a Banking Day, such payment may be made on the next Banking Day (but in any event not later than its maturity date) and such extension of time shall in each case be included in the computation of the interest payable on such Note. Notwithstanding the previous sentence, in the case of any LIBOR Loan, if the next Banking Day is in a month other than the month the payment was originally due, such payment may be made on the immediately preceding Banking Day and such reduction of time shall in each case be considered in the computation of the interest payable on such Note.

PAYMENTS ON REVOLVING CREDIT NOTES, ETC. All payments of principal and interest shall be made to the Administrative Agent in immediately available funds for the account of the Lenders Banks by no later than 3:00 p.m. (New York time) on the applicable payment date. The Administrative Agent shall promptly distribute to each Lender Bank its ratable share of the principal and interest received by it for the account of such LenderBank. Each Lender Bank shall endorse each Revolving Credit Note held by it or otherwise make appropriate book entries evidencing each payment of principal made thereon, it being understood, however, that any LenderBank's failure to record appropriate information on the grid(s) attached to any such Note shall in no way affect the obligation of the Company under this Agreement or under any such Note. Whenever any payment to be made hereunder, including without limitation, any payment to be made on any Note, shall be stated to be due on a day which is not a Banking Day, such payment may be made on the next Banking Day (but in any event not later than its maturity date) and such extension of time shall in each case be included in the computation of the interest payable on such Note. Notwithstanding the previous sentence, in the case of any LIBOR Loan, if the next Banking Day is in a month other than the month the payment was originally due, such payment may be made on the immediately preceding Banking Day and such reduction of time shall in each case be considered in the computation of the interest payable on such Note.