PAYMENTS; OVERDRAFTS; BUSINESS DAYS Sample Clauses

PAYMENTS; OVERDRAFTS; BUSINESS DAYS. All payments required to be made by the Customer hereunder shall be made in U.S. dollars immediately available to the Bank at its office Obligations (including all expenses incurred in connection with any workout or any bankruptcy or similar proceedings relating to the Customer). The Customer shall also reimburse the Bank from time to time at the Bank's request for any out-of-pocket expenses incurred by the Bank in connection with the Collateral and the Bank's security interest therein. The Customer will indemnify the Bank and hold the Bank harmless from and against all liabilities, losses, damages, costs and expenses (including settlement costs and fees and disbursements of counsel) which may be incurred by the Bank in connection with any investigative, administrative or judicial proceeding relating to or arising out of this Agreement, any Loan, Letter of Credit or other Obligation or any actual or proposed use of the proceeds of any Loan or other Obligation, except to the extent resulting from the Bank's own bad faith or willful misconduct.
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PAYMENTS; OVERDRAFTS; BUSINESS DAYS. All payments required to be made by the Customer hereunder shall be made in U.S. dollars immediately available to the Bank at its office at 299 Park Avenue, New York, Xxx Xxxx. Xxx xxxx xxxxxxxx xxxx be made to the Bank free and clear of any and all present and future taxes, levies, impost, duties, deductions, withholding, fees, liabilities and similar charges other than those imposed on the overall net income of the Bank. If any such taxes or other charges are required to be withheld or deducted from any amount payable by the Customer under this Agreement, the amount so payable will be increased to the amount which, after deduction from such increased amount of all such taxes and other charges required to be withheld or deducted therefrom, will yield to the Bank the amount stated to be payable under this Agreement. If any such taxes or charges are paid by the Bank, the Customer will reimburse the Bank on demand for such payments, together with all interest and penalties which may be imposed by any governmental agency. The Bank shall have the right, but not the obligation, to effect payment of amounts owed by the Customer hereunder from time to time by debiting the same from any Account (as defined in Article VI(a)). Unless otherwise specified on Schedule I hereto, any overdraft in any Account shall be payable immediately and shall bear interest until paid in full at a floating rate per annum which is two percentage points above the Base Rate. The Bank may (but shall not be obligated to) transfer funds from any Account to cover an overdraft in any other Account. The Bank will provide the Customer with subsequent notice of any such overdraft and transfer. Any payment otherwise due hereunder on a day which is not a business day shall be paid on the next ensuing business day, with any interest computed to the day of payment. "Business day" wherever used herein shall mean any day other than a Saturday, Sunday or other day on which commercial banks in New York City are authorized to close.
Sample 1
PAYMENTS; OVERDRAFTS; BUSINESS DAYS. All payments required to be made by the Customer hereunder shall be made in U.S. dollars immediately available to the Bank at its office
Sample 1

Related to PAYMENTS; OVERDRAFTS; BUSINESS DAYS

  • Payments on Non-Business Days Whenever any payment to be made by Borrower hereunder shall be stated to be due on a day which is not a Business Day, payments shall be made on the next succeeding Business Day and such extension of time shall be included in the computation of the payment of interest hereunder and of any fees due under this Agreement, as the case may be.

  • Payments on Business Days Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officer’s Certificate, or established in one or more indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

  • Payments Due on Non-Business Days Anything in this Agreement or the Notes to the contrary notwithstanding (but without limiting the requirement in Section 8.4 that the notice of any optional prepayment specify a Business Day as the date fixed for such prepayment), any payment of principal of or Make-Whole Amount or interest on any Note that is due on a date other than a Business Day shall be made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day; provided that if the maturity date of any Note is a date other than a Business Day, the payment otherwise due on such maturity date shall be made on the next succeeding Business Day and shall include the additional days elapsed in the computation of interest payable on such next succeeding Business Day.

  • Payment Date Other Than a Business Day If any payment with respect to a payment of any principal of, premium, if any, or interest on any Note (including any payment to be made on any date fixed for redemption or purchase of any Note) is due on a day which is not a Business Day, then the payment need not be made on such date, but may be made on the next Business Day with the same force and effect as if made on such date, and no interest will accrue for the intervening period.

  • Non-Business Day Payments Whenever any payment 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 payment of interest or fees, as the case may be; provided, however, that if such extension would cause payment of interest on or principal of Eurodollar Rate Advances to be made in the next following calendar month, such payment shall be made on the next preceding Business Day.

  • ACH Credit Entries/Provisional Payments When the Fund initiates or receives Automated Clearing House credit and debit entries pursuant to these guidelines and the rules of the National Automated Clearing House Association and the New England Clearing House Association, the Transfer Agent will act as an Originating Depository Financial Institution and/or Receiving Depository Financial Institution, as the case may be, with respect to such entries. Credits given by the Transfer Agent with respect to an ACH credit entry are provisional until the Transfer Agent receives final settlement for such entry from the Federal Reserve Bank. If the Transfer Agent does not receive such final settlement, the Fund agrees that the Transfer Agent shall receive a refund of the amount credited to the Fund in connection with such entry, and the party making payment to the Fund via such entry shall not be deemed to have paid the amount of the entry.

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Payment on Non-Business Days Whenever any payment to be made shall be due on a day which is not a Business Day, such payment may be due on the next succeeding Business Day.

  • Disbursements from Escrow Funds to Pay NCPS NCPS is authorized to and may disburse from time to time, to itself or to any Indemnified Party from the Escrow Funds (but only to the extent of Issuer’s rights thereto), the amount of any compensation and reimbursement of out-of-pocket expenses due and payable hereunder (including any amount to which NCPS or any Indemnified Party is entitled to seek indemnification pursuant to Section 9 hereof). NCPS shall notify Issuer of any disbursement from the Escrow Funds to itself or to any Indemnified Party in respect of any compensation or reimbursement hereunder and shall furnish to Issuer copies of all related invoices and other statements. Such disbursements will not occur before the minimum contingency is met in compliance with SEC Rule 15c2-4.

  • Collection of Accounts; Payments (a) Subject to the following sentence, each Loan Party shall make collection of all of its Accounts and other Collateral for the Agent. Within ninety (90) days after the Closing Date, each Loan Party shall have established a Payment Account and a related lock-box service for collections of its Accounts at the Bank or another Clearing Bank acceptable to the Agent and, in each case, subject to a Blocked Account Agreement and other documentation acceptable to the Agent and shall have instructed each Account Debtor to make all payments directly to such Payment Account or to the address established for such lock-box service and shall provide evidence to the Agent, satisfactory to the Agent, that such instructions have been given. If, notwithstanding such instructions, a Loan Party receives any proceeds of Accounts or if a Loan Party receives any payments on account of any other Collateral or any other payments of any source, it shall immediately (and not less often then daily) deliver such payments to the Agent in their original form or deposit such payments into the applicable Payment Account or to another deposit account from which funds are transferred daily into a Payment Account. Until the occurrence of a Combined Availability Threshold Event or an Event of Default, the Loan Parties shall have sole dominion and control of the transfer of funds from the Payment Account and such lock-box. All collections and other payments received in any such lock-box or Payment Account or directly by a Loan Party or the Agent and all funds in any Payment Account or other deposit account to which such collections or payments are deposited shall, upon the occurrence of a Combined Availability Threshold Event or an Event of Default, be subject to the Agent's sole dominion and control and withdrawals by the applicable Loan Party shall not be permitted until a Cash Control Termination Event occurs. The Agent or the Agent's designee may, at any time after the occurrence of a Combined Availability Threshold Event or an Event of Default and until a Cash Control Termination Event occurs, notify Account Debtors of a Loan Party that the Accounts of such Loan Party have been assigned to the Agent and of the Agent's security interest therein, and may collect them directly and charge the collection costs and expenses to the Borrower's Loan Account as a Revolving Loan. Upon the occurrence of a Combined Availability Threshold Event or an Event of Default and until a Cash Control Termination Event occurs, each Loan Party, at the Agent's request, shall execute and deliver to the Agent such documents as the Agent shall require to grant the Agent access to any post office lock-box in which collections of Accounts of such Loan Party are received, and if any payments are received by any Loan Party, such Loan Party shall receive all payments as the Agent's trustee, and shall immediately deliver all payments in their original form duly endorsed in blank into a Payment Account established for the account of such Loan Party, subject to a Blocked Account Agreement. To the extent that the Agent has dominion and control of any Payment Accounts under the DIP Loan Agreement on the Closing Date, the Agent shall release such control and dominion as long as Combined Availability Threshold Event or an Event of Default does not exist as of the Closing Date.

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