Common use of Payments Prepayments Clause in Contracts

Payments Prepayments. All payments hereunder shall be made by the Borrower to the Bank in United States cur­rency at the Bank’s address specified above (or at such other ad­dress as the Bank may specify), in immediately available funds, on or before 2:00 p.m. (New York City time) on the due date thereof. Payments received by the Bank prior to the occurrence of an Event of Default (as defined in Section 2.1 below) will be applied first to fees, expenses and other amounts due hereunder (excluding principal and interest); second, to accrued interest; and third to outstanding principal; after the occurrence of an Event of Default payments will be applied to the amounts outstanding under this Note as the Bank determines in its sole discretion.

Payments Prepayments. All payments hereunder shall be made by the Borrower to the Bank in United States cur­rency currency at the Bank’s address specified above (or at such other ad­dress address as the Bank may specify), in immediately available funds, on or before 2:00 p.m. (New York City time) on the due date thereof. Payments received by the Bank prior to the occurrence of an Event of Default (as defined in Section 2.1 below) will be applied first to fees, expenses and other amounts due hereunder (excluding principal and interest); second, to accrued interest; and third to outstanding principal; after the occurrence of an Event of Default payments will be applied to the amounts outstanding under this Note as the Bank determines in its sole discretion.