Place of Payment of Principal, Interest and Fees; Payments to Agent. All payments of principal, interest, fees and other amounts to be made by the Borrower to the Agent and the Lenders pursuant to this Agreement shall be made to the Agent (for, as applicable, the account of the Lenders or its own account) in the currency in which the Loan is outstanding for value on the day such amount is due, and if such day is not a Banking Day on the Banking Day next following, by deposit or transfer thereof to the applicable Agent’s Account or at such other place as the Borrower and the Agent may from time to time agree. Notwithstanding anything to the contrary expressed or implied in this Agreement, the receipt by the Agent in accordance with this Agreement of any payment made by the Borrower for the account of any of the Lenders shall, insofar as the Borrower’s obligations to the relevant Lenders are concerned, be deemed also to be receipt by such Lenders and the Borrower shall have no liability in respect of any failure or delay on the part of the Agent in disbursing and/or accounting to the relevant Lenders in regard thereto.
Place of Payment of Principal, Interest and Fees; Payments to Agent. All payments of principal, interest, fees and other amounts to be made by a Borrower to the Agent, the Fronting Lenders and the Lenders pursuant to this Agreement shall be made without set-off, counterclaim, deduction or reduction of any nature or kind whatsoever (for, as applicable, the account of the Lenders, the applicable Fronting Lender, the applicable Operating Lender or its own account) in the currency in which the relevant Loan is outstanding for value by 12:00 noon (Calgary time) on the day such amount is due, and if such day is not a Banking Day on the Banking Day next following, by deposit or transfer thereof to the relevant Agent’s Canadian Facility Account, the Agent’s U.S. Facility Account or the Canadian Operating Lender’s Account or the U.S. Operating Lender’s Account, as the case may be, or at such other place as the applicable Borrower and the Agent or the applicable Operating Lender may from time to time agree. Notwithstanding anything to the contrary expressed or implied in this Agreement, the receipt by the Agent in accordance with this Agreement of any payment made by a Borrower under a Syndicated Facility for the account of any of the Lenders shall, insofar as such Borrower’s obligations to the relevant Lenders are concerned, be deemed also to be receipt by such Lenders and such Borrower shall have no liability in respect of any failure or delay on the part of the Agent in disbursing and/or accounting to the relevant Lenders in regard thereto.
