Common use of Place and Manner of Payments Clause in Contracts

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower under this Credit Agreement shall be made without setoff, deduction or counterclaim and received not later than 2:00 p.m. on the date when due in Dollars and in immediately available funds by the Agent at the Agency Services Address. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Agent the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Agent shall distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretion). The Agent will distribute such payments to the applicable Lenders on the same Business Day if any such payment is received prior to 2:00 p.m.; otherwise the Agent will distribute each payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall be made on the next preceding Business Day.

Appears in 5 contracts

Samples: Credit Agreement (DCP Midstream Partners, LP), Credit Agreement (Spectra Energy Partners, LP), Credit Agreement (DCP Midstream Partners, LP)

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Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the a Borrower under this Credit Agreement shall be made without setoff, deduction or counterclaim and received not later than 2:00 p.m. on the date when due in Dollars and in immediately available funds by the Agent at the Agency Services Address. The A Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Agent the Loans, Letters of Credit, fees or other amounts payable by the a Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Agent shall distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretion). The Agent will distribute such payments to the applicable Lenders on the same Business Day if any such payment is received prior to 2:00 p.m.; otherwise the Agent will distribute each payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall be made on the next preceding Business Day.

Appears in 4 contracts

Samples: 364 Day Credit Agreement (Duke Energy Field Services LLC), 364 Day Credit Agreement (Duke Energy Field Services LLC), 364 Day Credit Agreement (Duke Energy Field Services LLC)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the a Borrower under this Credit Agreement shall be made by such Borrower unconditionally and without setoffdeduction for any counterclaim, deduction defense, recoupment or counterclaim setoff and received not later than 2:00 p.m. on the date when due due, in Dollars and in immediately available funds by funds, to the Administrative Agent at its offices in New York City, New York. Payments received after such time shall be deemed to have been received on the Agency Services Addressnext Business Day. The Borrower Borrowers shall, at the time it makes they make any payment under this Credit Agreement, specify to the Administrative Agent the Loans, Letters of Credit, fees or other amounts payable by the Borrower Borrowers hereunder to which such payment is to be applied (and in the event that it fails they fail to specify, or if such application would be inconsistent with the terms hereof, the Administrative Agent shall shall, subject to Section 3.7, distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretionthe Administrative Agent may deem appropriate). The Administrative Agent will distribute any such payments payment to the applicable Lenders on the same Business Day day received if any such payment is received prior to 2:00 p.m.; otherwise the Administrative Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day.

Appears in 3 contracts

Samples: Term Loan B Agreement (Brandywine Operating Partnership, L.P.), Term Loan Agreement (Brandywine Operating Partnership, L.P.), Term Loan Agreement (Brandywine Operating Partnership, L.P.)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower under this Credit Agreement shall be made unconditionally and without deduction for any counterclaim, defense, recoupment or setoff, deduction or counterclaim and . All such payments shall be received not later than 2:00 p.m. on the date when due in Dollars and in immediately available funds by the Administrative Agent at its offices in New York, New York. The Administrative Agent will distribute such payments made to the Agency Services AddressLenders on the date of receipt if such payment is received prior to 2:00 p.m.; otherwise, the Administrative Agent will distribute such payments to the Lenders, and such payment will be credited to the Borrower, on the next succeeding Business Day. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Administrative Agent the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Administrative Agent shall distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretion). The Agent will distribute such payments to the applicable Lenders on the same Business Day if any such payment is received prior to 2:00 p.m.; otherwise the Agent will distribute each payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that that, in the case of Eurodollar LoansLoans (or interest payable with respect thereto), if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day.

Appears in 3 contracts

Samples: Multi Year Credit Agreement (Alabama Power Co), Multi Year Credit Agreement (Alabama Power Co), Multi Year Credit Agreement (Southern Power Co)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the a Borrower under this Credit Agreement shall be made without setoff, deduction or counterclaim and received not later than 2:00 p.m. on the date when due due, in Dollars and in immediately available funds funds, by the Administrative Agent at its offices in Charlotte, North Carolina or the Agency Services AddressIssuing Lender at its applicable address. Payments received after such time shall be deemed to have been received on the next Business Day. The Borrower Borrowers shall, at the time it makes any payment under this Credit Agreement, specify to the Administrative Agent or Issuing Lender, as applicable, the Loans, Letters of Credit, fees or other amounts payable by the Borrower Borrowers hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Administrative Agent shall shall, subject to Section 3.7, distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretionthe Administrative Agent may deem appropriate). The Administrative Agent will distribute any such payments payment to the applicable Lenders on the same Business Day day received if any such payment is received prior to 2:00 p.m.; otherwise the Administrative Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day.

Appears in 3 contracts

Samples: Credit Agreement (Brandywine Realty Trust), Credit Agreement (Brandywine Realty Trust), Credit Agreement (Brandywine Realty Trust)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower a Credit Party under this Credit Agreement shall be made without setoff, deduction or counterclaim and received not later than 2:00 p.m. on the date when due due, in Dollars and in immediately available funds funds, by the Administrative Agent at the Agency Services Address. Payments received after such time shall be deemed to have been received on the next Business Day. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Administrative Agent the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Administrative Agent shall shall, subject to Section 3.7, distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretionthe Administrative Agent may deem appropriate). The Administrative Agent will distribute such payments to the applicable Lenders on the same Business Day if any such payment is received prior to 2:00 p.m.; otherwise the Administrative Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day.

Appears in 3 contracts

Samples: Credit Agreement (Pulte Corp), 364 Day Credit Agreement (Pulte Corp), Credit Agreement (Abacoa Homes Inc)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower a Credit Party under this Credit Agreement shall be made without setoff, deduction or counterclaim and received not later than 2:00 p.m. on the date when due due, in Dollars and in immediately available funds funds, by the Administrative Agent at its offices in Detroit, Michigan. Payments received after such time shall be deemed to have been received on the Agency Services Addressnext Business Day. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Agent Administrative Agent, the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Administrative Agent shall shall, subject to Section 3.7, distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretionthe Administrative Agent may deem appropriate). The Administrative Agent will distribute such payments to the applicable Lenders on the same Business Day if any such payment is received prior to 2:00 p.m.; otherwise the Administrative Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day.

Appears in 2 contracts

Samples: Credit Agreement (Varsity Spirit Corporation), Credit Agreement (Riddell Sports Inc)

Place and Manner of Payments. All Except as otherwise specifically provided herein, all payments of principal, interest, fees, expenses and other amounts to be made by the Borrower under this Credit Agreement Lessee to the Lessor hereunder shall be made to the Administrative Agent (as assignee of the Lessor pursuant to the Assignment of Lease and Rent) in Dollars in immediately available funds, without setoffoffset, deduction deduction, counterclaim or counterclaim and received withholding of any kind, to the Payment Account not later than 2:00 1:00 p.m. (New York City time) on the date when due in Dollars and in immediately available funds by due. Payments received after such time shall be deemed to have been received on the Agent at the Agency Services Addressnext succeeding Business Day. The Borrower Lessee shall, at the time it makes any payment under this Credit Agreementany Operative Document, specify to the Agent Lessor the Loans, Letters of CreditLoan and Lessor Amounts, fees or other amounts payable by the Borrower Lessee hereunder to which such payment is to be applied (and in the event that it fails so to specify, following receipt of notice from the Lessor of such failure, or if such application would be inconsistent with the terms hereof, the Agent Lessor shall distribute such payment to the Lenders Participants in such manner as it reasonably determines accordance with the provisions of the Operative Documents in its sole discretion)respect of obligations owing by the Lessee. The Administrative Agent will distribute such payments to the applicable Lenders on the same Business Day Participants in accordance with Article VII if any such payment is received prior to 2:00 p.m.; 1:00 p.m. (New York City time) on a Business Day in like funds as received prior to the end of such Business Day, and otherwise the Administrative Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon Participants on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest (at the applicable Base Rate or LIBO Rate) and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall be made on the next preceding Business Day.

Appears in 1 contract

Samples: Participation Agreement (Citrix Systems Inc)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower under this Credit Agreement shall be made without setoff, deduction or counterclaim and received not later than 2:00 p.m. on the date when due in Dollars and in immediately available funds by the Agent at the Agency Services Address. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Agent the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Agent shall distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretion). The Agent will distribute such payments to the applicable Lenders on the same Business Day if any such payment is received prior to 2:00 p.m.; otherwise the Agent will distribute each payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall be made on the next preceding Business Day.. 38 Spectra Energy Partners OLP, LP

Appears in 1 contract

Samples: Credit Agreement (Spectra Energy Partners, LP)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower a Credit Party under this Credit Agreement shall be made unconditionally and without any setoff, deduction deduction, counterclaim, defense, recoupment or counterclaim withholding of any kind and received not later than 2:00 p.m. on the date when due due, in Dollars and in immediately available funds funds, by the Administrative Agent at the Agency Services Address. Payments received after such time shall be deemed to have been received on the next Business Day. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Administrative Agent the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Administrative Agent shall shall, subject to Section 3.7, distribute such payment to the Lenders in such manner as it the Administrative Agent may reasonably determines in its sole discretiondeem appropriate). The Administrative Agent will distribute such payments to the applicable Lenders on the same Business Day if any such payment is received prior to at or before 2:00 p.m.; otherwise the Administrative Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall be made on the next preceding Business Day.39

Appears in 1 contract

Samples: Credit Agreement (Quest Diagnostics Inc)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the a Borrower under this Credit Agreement shall be made by such Borrower unconditionally and without setoffdeduction for any counterclaim, deduction defense, recoupment or counterclaim setoff and received not later than 2:00 p.m. on the date when due due, in Dollars and in immediately available funds by funds, to the Administrative Agent at its offices in New York City, New York. Payments received after such time shall be deemed to have been received on the Agency Services Addressnext Business Day. The Borrower Borrowers shall, at the time it makes they make any payment under this Credit Agreement, specify to the Agent Administrative Agent, the Loans, Letters of Credit, fees or other amounts payable by the Borrower Borrowers hereunder to which such payment is to be applied (and in the event that it fails they fail to specify, or if such application would be inconsistent with the terms hereof, the Administrative Agent shall shall, subject to Section 3.7, distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretionthe Administrative Agent may deem appropriate). The Administrative Agent will distribute any such payments payment to the applicable Lenders on the same Business Day day received if any such -27- payment is received prior to 2:00 p.m.; otherwise the Administrative Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Brandywine Operating Partnership Lp /Pa)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower under this Credit Agreement shall be made without setoff, deduction or counterclaim and received not later than 2:00 p.m. on the date when due due, in Dollars and in immediately available funds funds, by the Agent each Lender, as applicable, without setoff, deduction, recoupment, defense or counterclaim, at the Agency Services Addresssuch Lender's principal offices. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Agent each Lender, the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Agent such Lender shall distribute apply such payment to the Lenders in such manner as it reasonably determines in its sole discretion). The Agent will distribute such payments to the applicable Lenders on the same Business Day if any such payment is received prior to 2:00 p.m.; otherwise the Agent will distribute each payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that that, in the case of Eurodollar LoansLoans (or interest payable with respect thereto), if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Mississippi Power Co)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower under this Credit Agreement shall be made without setoff, deduction or counterclaim and received not later than 2:00 p.m. 12:00 noon on the date when due due, in Dollars and in immediately available funds funds, by the Agent at its offices in Richmond, Virginia. Payments received after such time shall be deemed to have been received on the Agency Services Addressnext Business Day. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Agent the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Agent shall shall, subject to Section 3.7, distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretionthe Agent may deem appropriate). The Agent will distribute such payments to the applicable Lenders on the same Business Day date received if any such payment is received prior to 2:00 p.m.; 12:00 p.m. otherwise the Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loansprovided that, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day. If the Agent fails to timely forward payment to a Lender it shall pay such Lender interest at the Federal Funds Rate until such payment is made.

Appears in 1 contract

Samples: Line of Credit Agreement (Cornerstone Realty Income Trust Inc)

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Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower under this Credit Agreement shall be made without setoff, deduction or counterclaim and received not later than 2:00 p.m. 11:00 a.m. on the date when due due, in Dollars and in immediately available funds funds, by the Administrative Agent at the Agency Services AddressAddress or the Issuing Lender at its applicable address. Payments received after such time shall be deemed to have been received on the next Business Day. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Administrative Agent or Issuing Lender, as applicable, the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Administrative Agent shall shall, subject to Section 3.7, distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretionthe Administrative Agent may deem appropriate). The Administrative Agent will distribute any such payments payment to the applicable Lenders on the same Business Day day received if any such payment is received prior to 2:00 p.m.11:00 a.m.; otherwise the Administrative Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to provided that accrual of interest and fees for shall only be through the period end of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following a calendar month, then such payment shall be made on the next preceding Business Day).

Appears in 1 contract

Samples: Revolving Credit Agreement (Pan Pacific Retail Properties Inc)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower a Credit Party under this Credit Agreement shall be made without setoff, deduction or counterclaim and received not later than 2:00 p.m. on the date when due due, in Dollars and in immediately available funds funds, by the Agent at its offices at 000 Xxxx Xxxxxx, Xxxxxx, Xxxxx 00000. Payments received after such time shall be deemed to have been received on the Agency Services Addressnext Business Day. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Agent Agent, the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Agent shall shall, subject to Section 3.7, distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretionthe Agent may deem appropriate). The Agent will distribute distribute. on the same day of receipt, such payments to the applicable Lenders on the same Business Day if any such payment is received prior to 2:00 p.m.; otherwise the Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Gorges Quik to Fix Foods Inc)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the a Borrower under this Credit Agreement shall be made by such Borrower unconditionally and without setoffdeduction for any counterclaim, deduction defense, recoupment or counterclaim setoff and received not later than 2:00 p.m. on the date when due due, in Dollars and in immediately available funds by funds, to the Administrative Agent at its offices in Philadelphia, Pennsylvania. Payments received after such time shall be deemed to have been received on the Agency Services Addressnext Business Day. The Borrower Borrowers shall, at the time it makes they make any payment under this Credit Agreement, specify to the Administrative Agent the Loans, Letters of Credit, fees or other amounts payable by the Borrower Borrowers hereunder to which such payment is to be applied (and in the event that it fails they fail to specify, or if such application would be inconsistent with the terms hereof, the Administrative Agent shall shall, subject to Section 3.7, distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretionthe Administrative Agent may deem appropriate). The Administrative Agent will distribute any such payments payment to the applicable Lenders on the same Business Day day received if any such payment is received prior to 2:00 p.m.; otherwise the Administrative Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day.

Appears in 1 contract

Samples: Term Loan Agreement (Brandywine Realty Trust)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower a Credit Party under this Credit Agreement shall be made unconditionally and without any setoff, deduction deduction, counterclaim, defense, recoupment or counterclaim withholding of any kind and received not later than 2:00 p.m. on the date when due due, in Dollars and in immediately available funds by funds. Payments received after such time shall be deemed to have been received on the next Business Day. All such payments shall be made to the Administrative Agent at the Agency Services Address. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Administrative Agent the Term Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Administrative Agent shall shall, subject to Section 3.7, distribute such payment to the Lenders in such manner as it the Administrative Agent may reasonably determines in its sole discretiondeem appropriate). The Administrative Agent will distribute such payments to the applicable Lenders on the same Business Day if any such payment is received prior to at or before 2:00 p.m.; otherwise the Administrative Agent will may distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that that, in the case of Eurodollar LoansLoans (or interest payable with respect thereto), if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business DayDay and except as required by Section 3.5(b).

Appears in 1 contract

Samples: Bridge Credit Agreement (Orthodontic Centers of America Inc /De/)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower a Credit Party under this Credit Agreement shall be made without setoff, deduction or counterclaim and received not later than 2:00 p.m. on the date when due due, in Dollars and in immediately available funds funds, by the Agent at its offices at XxxxxxxXxxx Xxxxx, Xxxxxxxxx, Xxxxx Xxxxxxxx. Payments received after such time shall be deemed to have been received on the Agency Services Addressnext Business Day. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Agent Agent, the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Agent shall shall, subject to Section 3.7, distribute such payment to the New Credit Agreement Lenders in such manner as it reasonably determines in its sole discretionthe Agent may deem appropriate). The Agent will distribute such payments to the applicable New Credit Agreement Lenders on the same Business Day date received if any such payment is received prior to 2:00 p.m.; otherwise the Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Chattem Inc)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower a Credit Party under this Credit Agreement shall be made unconditionally and without any setoff, deduction deduction, counterclaim, defense, recoupment or counterclaim withholding of any kind and received not later than 2:00 p.m. on the date when due due, in Dollars or the applicable Foreign Currency and in immediately available funds funds, by the Administrative Agent at the Agency Services Address. Payments received after such time shall be deemed to have been received on the next Business Day. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Agent Administrative Agent, the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Administrative Agent shall shall, subject to Section 3.7, distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretionthe Administrative Agent may deem appropriate). The Administrative Agent will distribute such payments to the applicable Lenders on the same Business Day if any such payment is received prior to 2:00 p.m.; otherwise the Administrative Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day, in each case in immediately available funds. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Eurocurrency Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Covance Inc)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower under this Credit Agreement shall be made without setoff, deduction or counterclaim and received not later than 2:00 p.m. on the date when due in Dollars and in immediately available funds by the Agent at the Agency Services Address. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Agent the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Agent shall distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretion). The Agent will distribute such payments to the applicable Lenders on the same Business Day if any such payment is received prior to 2:00 p.m.; otherwise the Agent will distribute each payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall be made on the next preceding Business Day.

Appears in 1 contract

Samples: Bridge Credit Agreement (DCP Midstream Partners, LP)

Place and Manner of Payments. All payments of principal, interest, fees, expenses and other amounts to be made by the Borrower a Credit Party under this Credit Agreement shall be made without setoff, deduction or counterclaim and received not later than 2:00 p.m. on the date when due due, in Dollars and in immediately available funds funds, by the Agent at its offices in Charlotte, North Carolina. Payments received after such time shall be deemed to have been received on the Agency Services Addressnext Business Day. The Borrower shall, at the time it makes any payment under this Credit Agreement, specify to the Agent Agent, the Loans, Letters of Credit, fees or other amounts payable by the Borrower hereunder to which such payment is to be applied (and in the event that it fails to specify, or if such application would be inconsistent with the terms hereof, the Agent shall shall, subject to Section 3.7, distribute such payment to the Lenders in such manner as it reasonably determines in its sole discretionthe Agent may deem appropriate). The Agent will distribute such payments to the applicable Lenders on the same Business Day if any such payment is received prior to 2:00 p.m.; otherwise the Agent will distribute each such payment to the applicable Lenders prior to 12:00 noon on the next succeeding Business Day. Whenever any payment hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day (subject to accrual of interest and fees for the period of such extension), except that in the case of Eurodollar Loans, if the extension would cause the payment to be made in the next following calendar month, then such payment shall instead be made on the next preceding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Chic by H I S Inc)

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