Common use of Place of Payments, No Set Off Clause in Contracts

Place of Payments, No Set Off. All payments to be made hereunder by the Borrowers shall be made to the Facility Agent, not later than 3 p.m. New York time (any payment received after 3 p.m. New York time shall be deemed to have been paid on the next Banking Day) on the due date of such payment, at its office located at c/x Xxxxxx Structured Capital Management, 0000 Xxxxxxxx Xx., Xxxxxxxx, XX 00000, or to such other office of the Facility Agent as the Facility Agent may direct, without set-off or counterclaim and free from, clear of, and without deduction or withholding for, any Taxes; provided, however, that if the Borrowers shall at any time be required by applicable law to withhold or deduct any Taxes from any amounts payable to the Lenders hereunder, then the Borrowers shall pay such additional amounts in Dollars as may be necessary in order that the net amounts received by the Lenders after withholding or deduction shall equal the amounts which would have been received if such withholding or deduction were not required and, in the event any withholding or deduction is made, whether for Taxes or otherwise, the Borrowers shall promptly send to the Facility Agent such documentary evidence with respect to such withholding or deduction as may be required from time to time by the Lenders.

Appears in 1 contract

Samples: Credit Agreement (SEACOR Marine Holdings Inc.)

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Place of Payments, No Set Off. All payments to be made hereunder by the Borrowers shall be made to the Facility Administrative Agent, not later than 3 p.m. 10 a.m. New York time (any payment received after 3 p.m. 10 a.m. New York time shall be deemed to have been paid on the next Banking Day) on the due date of such payment, at its office located at c/x Xxxxxx Structured Capital Management609 Fifth Avenue, 0000 Xxxxxxxx Xx.Fifth Floor, XxxxxxxxNew York, XX 00000New York 10017-1021, or to such other office of the Facility Agent as the Facility sxxx xxxxx xxxxxx xx xxx Xxxxxxxxxxxxxx Xxxxx xx xxx Xxxxxxxxrative Agent may direct, without set-off or counterclaim and free from, clear of, and without deduction or withholding for, any Taxes; , provided, however, that if the Borrowers shall at any time be required compelled by applicable law to withhold or deduct any Taxes from any amounts payable to the Lenders hereunder, then the Borrowers shall pay such additional amounts in Dollars as may be necessary in order that the net amounts received by the Lenders after withholding or deduction shall equal the amounts which would have been received if such withholding or deduction were not required and, in the event any withholding or deduction is made, whether for Taxes or otherwise, the Borrowers shall promptly send to the Facility Administrative Agent such documentary evidence with respect to such withholding or deduction as may be required from time to time by the Lenders.

Appears in 1 contract

Samples: Credit Facility Agreement (Top Tankers Inc.)

Place of Payments, No Set Off. All payments to be made hereunder by the Borrowers Borrower shall be made to the Facility Administrative Agent, not later than 3 p.m. 11 a.m. New York time (any payment received after 3 p.m. 11 a.m. New York time shall be deemed to have been paid on the next Banking Day) on the due date of such payment, at its office located at c/x Xxxxxx Structured Capital Management00 Xxxx 00xx Xxxxxx, 0000 Xxxxxxxx Xx.0xx Xxxxx, XxxxxxxxXxx Xxxx, XX 00000, Xxx Xxxx 00000 or to such other office of the Facility Administrative Agent as the Facility Administrative Agent may direct, without set-off or counterclaim and free from, clear of, and without deduction or withholding for, any Taxes; , provided, however, that if the Borrowers Borrower shall at any time be required compelled by applicable law to withhold or deduct any Taxes from any amounts payable to the Lenders hereunder, then the Borrowers Borrower shall pay such additional amounts in Dollars as may be necessary in order that the net amounts received by the Lenders after withholding or deduction shall equal the amounts which would have been received if such withholding or deduction were not required and, in the event any withholding or deduction is made, whether for Taxes or otherwise, the Borrowers Borrower shall promptly send to the Facility Administrative Agent such documentary evidence with respect to such withholding or deduction as may be required from time to time by the Lenders.

Appears in 1 contract

Samples: Loan Agreement (Omi Corp/M I)

Place of Payments, No Set Off. All payments to be made hereunder by the Borrowers shall be made to the Facility Administrative Agent, not later than 3 p.m. 11 a.m. New York time (any payment received after 3 p.m. 11 a.m. New York time shall be deemed to have been paid on the next Banking Business Day) on the due date of such payment, at its office located at c/x Xxxxxx Structured Capital Management000 Xxxx Xxxxxx, 0000 Xxxxxxxx Xx.Xxx Xxxx, Xxxxxxxx, XX 00000, Xxx Xxxx 00000 or to such other office of the Facility Administrative Agent as the Facility Administrative Agent may direct, without set-off or counterclaim and free from, clear of, and without deduction or withholding for, any Taxes (other than Excluded Taxes; ), provided, however, that if the Borrowers shall at any time be required compelled by applicable law to withhold or deduct any Taxes (other than Excluded Taxes) from any amounts payable to the Lenders hereunder, then the Borrowers shall pay such additional amounts in Dollars as may be necessary in order that the net amounts received by the Lenders after withholding or deduction shall equal the amounts which would have been received if such withholding or deduction were not required and, in the event any withholding or deduction is made, whether for Taxes or otherwise, the Borrowers shall promptly send to the Facility Administrative Agent such documentary evidence with respect to such withholding or deduction as may be required from time to time by the Lenders.

Appears in 1 contract

Samples: Term Loan and Revolving Credit Facility Agreement (Stolt Nielsen S A)

Place of Payments, No Set Off. All payments to be made hereunder by the Borrowers shall be made to the Facility Agent, not later than 3 p.m. New York time (any payment received after 3 p.m. New York time shall be deemed to have been paid on the next Banking Day) in Dollars on the due date dates of such payment, payments to the Administrative Agent at its office located at c/x Xxxxxx Structured Capital Management399 Park Avenue, 0000 Xxxxxxxx Xx.New York, Xxxxxxxx, XX 00000, New York 10043 or to such other office of the Facility Agent as the Facility othxx xxxxxx xx xxx Xxxxxxxxxxxxxx Xxxxx xx xhe Administrative Agent may direct, without set-off or counterclaim and free from, clear of, of and without deduction or withholding for, any Taxes; provided, however, that if the Borrowers shall at any time be required compelled by applicable law to withhold or deduct any Taxes from any amounts payable to the Lenders Administrative Agent for the account of the Banks or the other Creditors hereunder, then then, the Borrowers shall pay such additional amounts in Dollars as may be necessary in order that the net amounts received by the Lenders after withholding or deduction shall equal the amounts which would have been received if such withholding or deduction were not required and, in the event any withholding or deduction is made, whether for Taxes or otherwise, the Borrowers shall promptly send to the Facility Administrative Agent such any documentary evidence they have with respect to such withholding or deduction as may be required from time to time by the Lendersdeduction.

Appears in 1 contract

Samples: Credit Agreement (Overseas Shipholding Group Inc)

Place of Payments, No Set Off. All payments to be made hereunder by the Borrowers Borrower shall be made to the Facility Administrative Agent, not later than 3 p.m. 11 a.m. New York time (any payment received after 3 p.m. 11 a.m. New York time shall be deemed to have been paid on the next Banking Day) on the due date of such payment, at its office located at c/x Xxxxxx Structured Capital Management00 Xxxx 00xx Xxxxxx, 0000 Xxxxxxxx Xx.0xx Xxxxx, XxxxxxxxXxx Xxxx, XX 00000, Xxx Xxxx 00000 or to such other office of the Facility Administrative Agent as the Facility Administrative Agent may direct, without set-off or counterclaim and free from, clear of, and without deduction or withholding for, any Taxes; , provided, however, that if the Borrowers Borrower shall at any time be required compelled by applicable law to withhold or deduct any Taxes from any amounts payable to the Lenders Banks hereunder, then the Borrowers Borrower shall pay such additional amounts in Dollars as may be necessary in order that the net amounts received by the Lenders after withholding or deduction shall equal the amounts which would have been received if such withholding or deduction were not required and, in the event any withholding or deduction is made, whether for Taxes or otherwise, the Borrowers Borrower shall promptly send to the Facility Administrative Agent such documentary evidence with respect to such withholding or deduction as may be required from time to time by the LendersBanks.

Appears in 1 contract

Samples: Facility Agreement (Omi Corp/M I)

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Place of Payments, No Set Off. All payments to be made hereunder by the Borrowers Borrower shall be made to the Facility Administrative Agent, not later than 3 p.m. 10 a.m. New York time (any payment received after 3 p.m. 10 a.m. New York time shall be deemed to have been paid on the next Banking Day) on the due date of such payment, at its office located at c/x Xxxxxx Structured Capital Management000 Xxxxx Xxxxxx, 0000 Xxxxxxxx Xx.Xxxxx Xxxxx, XxxxxxxxXxx Xxxx, XX Xxx Xxxx 00000-0000, or to such other office of the Facility Administrative Agent as the Facility Administrative Agent may direct, without set-off or counterclaim and free from, clear of, and without deduction or withholding for, any Taxes; , provided, however, that if the Borrowers Borrower shall at any time be required compelled by applicable law to withhold or deduct any Taxes from any amounts payable to the Lenders hereunder, then the Borrowers Borrower shall pay such additional amounts in Dollars as may be necessary in order that the net amounts received by the Lenders after withholding or deduction shall equal the amounts which would have been received if such withholding or deduction were not required and, in the event any withholding or deduction is made, whether for Taxes or otherwise, the Borrowers Borrower shall promptly send to the Facility Administrative Agent such documentary evidence with respect to such withholding or deduction as may be required from time to time by the Lenders.

Appears in 1 contract

Samples: Loan Agreement (B Plus H Ocean Carriers LTD)

Place of Payments, No Set Off. All payments to be made hereunder by the Borrowers Borrower shall be made on the due dates of such payments to the Facility Agent, not later than 3 p.m. New York time (any payment received after 3 p.m. New York time shall be deemed to have been paid on the next Banking Day) on the due date of such payment, Agent at its office located at c/x Xxxxxx Structured Capital Management000 Xxxx Xxxxxx, 0000 Xxxxxxxx Xx.Xxx Xxxx, Xxxxxxxx, XX 00000, Xxx Xxxx or to such other office branch of the Facility Agent as the Facility Agent may direct, without set-off or counterclaim and free from, clear of, of and without deduction or withholding for, any Taxes; , provided, however, that if the Borrowers Borrower shall at any time be required compelled by applicable law to withhold or deduct any Taxes from any amounts payable to the Agents and the Lenders hereunder, then then, subject to Section 7.2, the Borrowers Borrower shall pay such additional amounts in Dollars as may be necessary in order that the net amounts received by the Lenders after withholding or deduction shall equal the amounts which would have been received if such withholding or deduction were not required and, in the event any withholding or deduction is made, whether for Taxes or otherwise, the Borrowers Borrower shall promptly send to the Facility Agent such documentary evidence with respect to such withholding or deduction as may be required from time to time by the LendersAgents and the Lenders or any thereof.

Appears in 1 contract

Samples: Revolving Credit Facility (Seacor Holdings Inc /New/)

Place of Payments, No Set Off. All payments to be made hereunder by the Borrowers Borrower shall be made to the Facility Agent, not later than 3 p.m. 11 a.m. New York time (any payment received after 3 p.m. 11 a.m. New York time shall be deemed to have been paid on the next Banking Day) on the due date of such payment, at its office located at c/x Xxxxxx Structured Capital Management000 Xxxx Xxxxxx, 0000 Xxxxxxxx Xx.Xxx Xxxx, Xxxxxxxx, XX 00000, Xxx Xxxx 00000 or to such other office of the Facility Agent as the Facility Agent may direct, without set-off or counterclaim and free from, clear of, and without deduction or withholding for, any Taxes; , provided, however, that if the Borrowers Borrower shall at any time be required compelled by applicable law to withhold or deduct any Taxes from any amounts payable to the Lenders hereunder, then the Borrowers Borrower shall pay such additional amounts in Dollars as may be necessary in order that the net amounts received by the Lenders after withholding or deduction shall equal the amounts which would have been received if such withholding or deduction were not required and, in the event any withholding or deduction is made, whether for Taxes or otherwise, the Borrowers Borrower shall promptly send to the Facility Agent such documentary evidence with respect to such withholding or deduction as may be required from time to time by the Lenders.

Appears in 1 contract

Samples: Credit Agreement (International Shipholding Corp)

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