Common use of Place and Method of Payment Clause in Contracts

Place and Method of Payment. The Borrower will pay all sums becoming due on each Loan or otherwise under this Agreement or any other Loan Document, without set-off or counterclaim, by wire transfer of immediately available funds for credit (not later than 4:00 P.M. New York time on the date due) to the account specified for such purpose below the applicable Lender’s name in Schedule 1, or by such other method or at such other address as such Lender shall have from time to time specified to the Borrower in writing for such purpose, without the presentation or surrender of such Note or the making of any notation thereon, except that upon written request of the Borrower made concurrently with or reasonably promptly after payment or prepayment in full of any Loan, such Lender shall surrender such Note for cancellation, reasonably promptly after any such request, to the Borrower at the principal executive office of the Borrower or at the place most recently designated by the Borrower pursuant to Section 10.3. Notwithstanding the foregoing, sums due in respect of interest (and only such sums) may be drawn in cash by automatic bank draft pursuant to the authorization provided pursuant to Section 5.1(b)(xii).

Place and Method of Payment. The Borrower Borrowers will pay all sums becoming due on each Loan or otherwise under this Agreement or any other Loan Document, without set-off or counterclaim, by wire transfer of immediately available funds for credit (not later than 4:00 P.M. New York time on the date due) to the account specified for such purpose below the applicable Lender’s name in Schedule 1, or by such other method or at such other address as such Lender shall have from time to time specified to the Borrower Borrowers in writing for such purpose, without the presentation or surrender of such Note or the making of any notation thereon, except that upon written request of the Borrower Borrowers made concurrently with or reasonably promptly after payment or prepayment in full of any Loan, such Lender shall surrender such Note for cancellation, reasonably promptly after any such request, to the Borrower Borrowers at the principal executive office of the Borrower Borrowers or at the place most recently designated by the Borrower Borrowers pursuant to Section 10.3. Notwithstanding the foregoing, sums due in respect of interest (and only such sums) may be drawn in cash by automatic bank draft pursuant to the authorization provided pursuant to Section 5.1(b)(xii).