Common use of Place and Application of Payments Clause in Contracts

Place and Application of Payments. All payments of principal of and interest on the Loan, and all other Obligations payable by the Borrower under the Credit Documents shall be made by Borrower in U.S. Dollars to the Administrative Agent by no later than 1:00 p.m. (Chicago time) on the due date thereof at the principal office of the Administrative Agent in New York, New York pursuant to the payment instructions set forth on Part A of Schedule 4 hereof (or such other location in the United States as the Administrative Agent may designate to Borrower) for the benefit of the Person or Persons entitled thereto. Any payments received after such time shall be deemed to have been received by the Administrative Agent on the next Business Day. All such payments shall be made free and clear of, and without deduction for, any set-off, defense, counterclaim, levy, or any other deduction of any kind in immediately available funds at the place of payment. The Administrative Agent, will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest on Loans or applicable fees ratably to the Lenders and like funds relating to the payment of any other amount payable to any Person to such Person, in each case to be applied in accordance with the terms of this Agreement.

Appears in 16 contracts

Samples: Assignment and Assumption (Nicor Inc), Assignment and Assumption (Northern Illinois Gas Co /Il/ /New/), Assignment and Assumption (Nicor Inc)

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Place and Application of Payments. All payments of principal of and interest on the Loan, and all other Obligations payable by the Borrower Borrowers under the Credit Documents shall be made by Borrower Borrowers in U.S. Dollars to the Administrative Agent by no later than 1:00 p.m. (Chicago time) on the due date thereof at the principal office of the Administrative Agent in New York, New York pursuant to the payment instructions set forth on Part A of Schedule 4 hereof (or such other location in the United States as the Administrative Agent may designate to BorrowerBorrowers) for the benefit of the Person or Persons entitled thereto. Any payments received after such time shall be deemed to have been received by the Administrative Agent on the next Business Day. All such payments shall be made free and clear of, and without deduction for, any set-off, defense, counterclaim, levy, or any other deduction of any kind in immediately available funds at the place of payment. The Administrative Agent, will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest on Loans or applicable fees ratably to the Lenders and like funds relating to the payment of any other amount payable to any Person to such Person, in each case to be applied in accordance with the terms of this Agreement.

Appears in 8 contracts

Samples: Credit Agreement (Nicor Inc), Credit Agreement (Northern Illinois Gas Co /Il/ /New/), Day Credit Agreement (Northern Illinois Gas Co /Il/ /New/)

Place and Application of Payments. All payments of principal of and interest on the LoanLoans, and of all other Obligations and other amounts payable by the Borrower under the Credit Documents Documents, shall be made by the Borrower in U.S. Dollars to the Administrative Agent by no later than 1:00 2:00 p.m. (Chicago New York time) on the due date thereof at the principal office of the Administrative Agent in New York, New York pursuant to the payment instructions set forth on Part A of Schedule 4 hereof hereto (or such other location in the the, United States as the Administrative Agent may designate to the Borrower) ), for the benefit of the Person or Persons entitled thereto. Any payments received after such time shall be deemed to have been received by the Administrative Agent on the next Business Day. All such payments shall be made free and clear of, and without deduction for, any set-off, defense, counterclaim, levy, or any other deduction of any kind in immediately available funds at the place of payment. The Administrative Agent, Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest on Loans or applicable fees ratably to the Lenders Banks and like funds relating to the payment of any other amount payable to any Person to such Person, in each case to be applied in accordance with the terms of this Agreement.

Appears in 4 contracts

Samples: Credit Agreement (Black Hills Corp /Sd/), Credit Agreement (Black Hills Corp /Sd/), Credit Agreement (Black Hills Corp /Sd/)

Place and Application of Payments. All payments of principal of and interest on the LoanLoans, and of all other Obligations and other amounts payable by the Borrower under the Credit Documents Documents, shall be made by the Borrower in U.S. Dollars to the Administrative Agent by no later than 1:00 2:00 p.m. (Chicago New York time) on the due date thereof at the principal office of the Administrative Agent in New York, New York pursuant to the payment instructions set forth on Part A of Schedule 4 hereof (or such other location in the the, United States as the Administrative Agent may designate to the Borrower) ), for the benefit of the Person or Persons entitled thereto. Any payments received after such time shall be deemed to have been received by the Administrative Agent on the next Business Day. All such payments shall be made free and clear of, and without deduction for, any set-off, defense, counterclaim, levy, or any other deduction of any kind in immediately available funds at the place of payment. The Administrative Agent, Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest on Loans or applicable fees ratably to the Lenders Banks and like funds relating to the payment of any other amount payable to any Person to such Person, in each case to be applied in accordance with the terms of this Agreement.

Appears in 3 contracts

Samples: Term Loan Credit Agreement (Black Hills Corp /Sd/), Credit Agreement (Black Hills Corp /Sd/), Credit Agreement (Black Hills Corp /Sd/)

Place and Application of Payments. All payments of principal of and interest on the LoanLoans, and of all other Obligations and other amounts payable by the Borrower under the Credit Documents Documents, shall be made by Borrower in U.S. Dollars to the Administrative Agent by no later than 1:00 2:00 p.m. (Chicago New York time) on the due date thereof at the principal office of the Administrative Agent in New York, New York pursuant to the payment instructions set forth on Part A of Schedule 4 hereof (or such other location in the the, United States as the Administrative Agent may designate to Borrower) for the benefit of the Person or Persons entitled thereto. Any payments received after such time shall be deemed to have been received by the Administrative Agent on the next Business Day. All such payments shall be made free and clear of, and without deduction for, any set-off, defense, counterclaim, levy, or any other deduction of any kind in immediately available funds at the place of payment. The Administrative Agent, will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest on Loans or applicable fees ratably to the Lenders Banks and like funds relating to the payment of any other amount payable to any Person to such Person, in each case to be applied in accordance with the terms of this Agreement.

Appears in 3 contracts

Samples: Day Credit Agreement (Black Hills Corp /Sd/), Term Credit Agreement (Black Hills Corp /Sd/), Day Credit Agreement (Black Hills Corp /Sd/)

Place and Application of Payments. All payments of principal of and interest on the Loan, and all other Obligations payable by the Borrower under the Credit Documents shall be made by Borrower in U.S. Dollars to the Administrative Agent by no later than 1:00 p.m. (Chicago time) on the due date thereof at the principal office of the Administrative Agent in New York, New York pursuant to the payment instructions set forth on Part A of Schedule 4 hereof (or such other location in the United States as the Administrative Agent may designate to Borrower) for the benefit of the Person or Persons entitled thereto. Any payments received after such time shall be deemed to have been received by the Administrative Agent on the next Business Day. All such payments shall be made free and clear of, and without deduction for, any set-off, defense, counterclaim, levy, or any other deduction of any kind in immediately available funds at the place of payment. The Administrative Agent, will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest on Loans or applicable fees ratably to the Lenders and like funds 1663651.11-New York Server 7A - MSW relating to the payment of any other amount payable to any Person to such Person, in each case to be applied in accordance with the terms of this Agreement.

Appears in 2 contracts

Samples: Assignment and Assumption (Northern Illinois Gas Co /Il/ /New/), Assignment and Assumption (Nicor Inc)

Place and Application of Payments. All payments of principal of and interest on the LoanLoans, and of all other Obligations and other amounts payable by the Borrower under the Credit Documents Documents, shall be made by Borrower in U.S. Dollars to the Administrative Agent by no later than 1:00 2:00 p.m. (Chicago New York time) on the due date thereof at the principal office of the Administrative Agent in New York, New York pursuant to the payment instructions set forth on Part A of Schedule 4 hereof (or such other location in the the, United States as the Administrative Agent may designate to Borrower) ), for the benefit of the Person or Persons entitled thereto. Any payments received after such time shall be deemed to have been received by the Administrative Agent on the next Business Day. All such payments shall be made free and clear of, and without deduction for, any set-off, defense, counterclaim, levy, or any other deduction of any kind in immediately available funds at the place of payment. The Administrative Agent, Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest on Loans or applicable fees ratably to the Lenders Banks and like funds relating to the payment of any other amount payable to any Person to such Person, in each case to be applied in accordance with the terms of this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Black Hills Corp /Sd/), Credit Agreement (Black Hills Corp /Sd/)

Place and Application of Payments. All payments of principal of and interest on the LoanLoans, and of all other Obligations and other amounts payable by the Borrower under the Credit Documents Documents, shall be made by Borrower in U.S. Dollars to the Administrative Agent by no later than 1:00 2:00 p.m. (Chicago New York time) on the due date thereof at the principal office of the Administrative Agent in New York, New York pursuant to the payment instructions set forth on Part A of Schedule 4 hereof (or such other location in the the, United States as the Administrative Agent may designate to Borrower) ), for the benefit of the Person or Persons entitled thereto. Any payments received after such time shall be deemed to have been received by the Administrative Agent on the next Business Day. All such payments shall be made free and clear of, and without deduction for, any set-off, defense, counterclaim, levy, or any other deduction of any kind in immediately available funds at the place of payment. The Administrative Agent, Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest on Loans or applicable fees ratably to the Lenders Banks and like funds relating to the payment of any other amount payable to any Person to such Person, in each case to be applied in accordance with the terms of this Agreement.

Appears in 2 contracts

Samples: Assignment and Assumption (Black Hills Corp /Sd/), Day Credit Agreement (Black Hills Corp /Sd/)

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Place and Application of Payments. All payments of principal of and interest on the LoanLoans, and of all other Obligations and other amounts payable by the Borrower under the Credit Documents Documents, shall be made by Borrower in U.S. Dollars to the Administrative Agent by no later than 1:00 2:00 p.m. (Chicago New York time) on the due date thereof at the principal office of the Administrative Agent in New York, New York pursuant to the payment instructions set forth on Part A of Schedule 4 hereof (or such other location in the the, United States as the Administrative Agent may designate to Borrower) ), in each case for the benefit of the Person or Persons entitled thereto. Any payments received after such time shall be deemed to have been received by the Administrative Agent on the next Business Day. All such payments shall be made free and clear of, and without deduction for, any set-off, defense, counterclaim, levy, or any other deduction of any kind in immediately available funds at the place of payment. The Administrative Agent, Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest on Loans or applicable fees ratably to the Lenders Banks and like funds relating to the payment of any other amount payable to any Person to such Person, in each case to be applied in accordance with the terms of this Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Black Hills Corp /Sd/), Credit Agreement (Black Hills Corp /Sd/)

Place and Application of Payments. All payments of principal of and interest on the LoanLoans, and of all other Obligations and other amounts payable by the Borrower under the Credit Documents Documents, shall be made by the Borrower in U.S. Dollars to the Administrative Agent or the applicable Issuing Bank if such payment is being made with respect to a Reimbursement Obligation, by no later than 1:00 1:30 p.m. (Chicago Eastern time) on the due date thereof at the principal office of the Administrative Agent in New Yorkor the applicable Issuing Bank, New York pursuant to the payment instructions as applicable, as set forth on Part A of Schedule 4 11.8 hereof (or such other location in the United States as the Administrative Agent or the applicable Issuing Bank, as applicable, may designate to the Borrower) or, if such payment is on a Reimbursement Obligation, no later than provided by Section 2.2(c) hereof, in each case for the benefit of the Person or Persons entitled thereto. Any payments received after such time shall be deemed to have been received by the Administrative Agent or the Issuing Bank on the next Business Day. All such payments shall be made free and clear of, and without deduction for, any set-off, defense, counterclaim, levy, or any other deduction of any kind in U.S. Dollars, in immediately available funds at the place of payment. The Administrative AgentAgent or the applicable Issuing Bank, as applicable, will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest on Loans or applicable fees ratably to the Lenders Banks and like funds relating to the payment of any other amount payable to any Person to such Person, in each case to be applied in accordance with the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Peoples Energy Corp)

Place and Application of Payments. All payments of principal of and interest on the LoanLoans, and of all other Obligations and other amounts payable by the Borrower under the Credit Documents Documents, shall be made by the Borrower in U.S. Dollars to the Administrative Agent or the applicable Issuing Bank if such payment is being made with respect to a Reimbursement Obligation, by no later than 1:00 12:30 p.m. (Chicago time) on the due date thereof at the principal office of the Administrative Agent or the applicable Issuing Bank, as applicable, in New York, New York York, pursuant to the payment instructions set forth on Part A of Schedule 4 hereof (or such other location in the United States as the Administrative Agent or the applicable Issuing Bank, as applicable, may designate to the Borrower) or, if such payment is on a Reimbursement Obligation, no later than provided by Section 2.2(c) hereof, in each case for the benefit of the Person or Persons entitled thereto. Any payments received after such time shall be deemed to have been received by the Administrative Agent or the Issuing Bank on the next Business Day. All such payments shall be made free and clear of, and without deduction for, any set-off, defense, counterclaim, levy, or any other deduction of any kind in U.S. Dollars, in immediately available funds at the place of payment. The Administrative AgentAgent or the applicable Issuing Bank, as applicable, will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest on Loans or applicable fees ratably to the Lenders Banks and like funds relating to the payment of any other amount payable to any Person to such Person, in each case to be applied in accordance with the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Peoples Energy Corp)

Place and Application of Payments. All payments of principal of and interest on the LoanLoans and the Reimbursement Obligations, and of all other Obligations amounts payable by the Borrower under the Credit Documents this Agreement, shall be made by the Borrower in U.S. Dollars to the Administrative Agent by no later than 1:00 2:00 p.m. (Chicago time) on the due date thereof at the principal office bank account of the Administrative Agent maintained in New York, New York pursuant to the payment instructions set forth on Part A of Schedule 4 hereof (or such other location in the United States as the Administrative Agent may designate to the Borrower) for the benefit of the Person or Persons entitled theretoor, if such payment is on a Reimbursement Obligation, no later than provided by Section 2.3(c) hereof. Any payments received after such time shall be deemed to have been received by the Administrative Agent on the next Business Day. All such payments shall be made free and clear of, and without deduction for, any set-off, defense, counterclaim, levy, levy or any other deduction of any kind in U.S. Dollars, in immediately available funds at the place of payment. The Administrative Agent, Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest on Loans or applicable fees ratably to the Lenders Banks in accordance with their respective Percentages and like funds relating to the payment of any other amount payable to any Person to such Person, in each case to be applied in accordance with the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Transport Corporation of America Inc)

Place and Application of Payments. All payments of principal of and interest on the LoanLoans, and of all other Obligations and other amounts payable by the Borrower under the Credit Documents Documents, shall be made by the Borrower in U.S. Dollars to the Administrative Agent by no later than 1:00 2:00 p.m. (Chicago New York time) on the due date thereof at the principal office of the Administrative Agent in New York, New York pursuant to the payment instructions set forth on Part A of Schedule 4 hereof communicated in writing to the Borrower by the Administrative Agent (or such other location in the United States as the Administrative Agent may designate to the Borrower) for the benefit of the Person or Persons entitled thereto). Any payments received after such time shall be deemed to have been received by the Administrative Agent on the next Business Day. All such payments shall be made free and clear of, and without deduction for, any set-off, defense, counterclaim, levy, or any other deduction of any kind in immediately available funds at the place of payment. The Administrative Agent, Agent will promptly thereafter cause to be distributed like funds relating to the payment of principal or interest on Loans or applicable fees ratably (except as otherwise specifically required hereunder) to the Lenders Banks and like funds relating to the payment of any other amount payable to any Person to such Person, in each case to be applied in accordance with the terms of this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Black Hills Corp /Sd/)

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