Receipt of Payments. Borrowers shall make each payment under this Agreement not later than 2:00 p.m. (New York time) on the day when due in immediately available funds in Dollars to the Collection Account. For purposes of computing interest and Fees and determining Borrowing Availability as of any date, all payments shall be deemed received on the Business Day on which immediately available funds therefor are received in the Collection Account prior to 2:00 p.m. New York time. Payments received after 2:00 p.m. New York time on any Business Day or on a day that is not a Business Day shall be deemed to have been received on the following Business Day.
Receipt of Payments. Subject to the following sentence, all payments received by LESSOR or LESSEE from such Government Entity in connection with the requisition of the Aircraft under the CRAF Program will be paid over to or retained by LESSEE. If a Default has occurred and is continuing, all payments received by LESSEE or LESSOR from such Government Entity in connection with the requisition of the Aircraft under the CRAF Program may be used by LESSOR to satisfy any obligations owing by LESSEE.
Receipt of Payments. 14 1.11. Application and Allocation of Payments......................................................... 15 1.12. Loan Account and Accounting.................................................................... 15 1.13. Indemnity...................................................................................... 16 1.14. Access......................................................................................... 17 1.15. Taxes. 18 1.16. Capital Adequacy; Increased Costs; Illegality.................................................. 19 1.17.
Receipt of Payments. 18 1.11. Application and Allocation of Payments........................................................18 1.12. Loan Account and Accounting...................................................................19 1.13. Indemnity.....................................................................................19 1.14. Access........................................................................................21 1.15. Taxes.........................................................................................21
Receipt of Payments. (a) Each payment by any Borrower under this Agreement shall be made without deduction, set-off, defense, recoupment, claim or counterclaim, all of which are waived, not later than 12:00 noon (New York time) on the day when due in lawful money of the United States of America in immediately available funds to the Agent's Payment Account. The Agent will, upon any such payment to its Payment Account, promptly thereafter (and in any event on the same Business Day as the date when received if such payment is received at or prior to 12:00 noon (New York time) (or, if sent by wire transfer in immediately available funds, if such wire is initiated by such time)), cause to be distributed like funds relating to the payment of principal or interest ratably to the Lenders or as otherwise provided above, and like funds relating to the payment of any other amount payable to any Lender to such Lender, in each case to be applied in accordance with the terms of this Agreement.
(b) Pursuant and subject to Section 8.22 hereof, the Company has agreed to cause all Proceeds to be deposited into Blocked Accounts, and to cause all such Proceeds to be transferred to the Payment Account in accordance with the Collecting Bank Agreements. Subject to Section 2.20(a) hereof, on each Business Day, the Agent shall apply to Lender Debt (or invest as hereinafter provided) effective as of such Business Day, all Proceeds credited in immediately available funds to the Payment Account on such Business Day (and which shall not have theretofore been credited to Lender Debt) as follows:
(i) first, to the Revolving Loan, until the Revolving Loan shall have been paid in full and (ii) second, invested in accordance with and subject to the requirements of Section 2.20(b) hereof. In the event the Company (or any Affiliate of the Company or any Person acting for or in concert with the Company) shall, notwithstanding the existence of any lock-box or collection arrangement referred to in this Agreement, receive any monies, checks, drafts or other similar negotiable items of payment made with respect to Accounts (other than (x) Accounts of Foreign Subsidiaries not subject to a cash management arrangement with the Agent and (y) payments in respect of accommodation sales and other miscellaneous transactions which are not store settlements so long as such monies, checks, drafts or similar items are deposited as required by this sentence no less frequently than monthly (it being agreed that the Company shall u...
Receipt of Payments. Payments received before 5 PM CT at the address shown on your Statement on any of our regular Business Days will be posted as of the date of receipt. Payments made in person before the close of business to an employee at a Commerce branch will be posted as of date of receipt. Payments mailed to the address shown or made in person at a branch must be accompanied by the Account number or payment stub, and in the form of a check or money order in U. S. Dollars drawn on a U. S. financial institution. Do not send cash through the mail. A delay in crediting the payment to your Account may occur if the payment does not meet these requirements for making payments (conforming payments). In no case shall such delay exceed five days from receipt of such payment. The cutoff time for payments made on any of our regular Business Days through Commerce as transfers from your Commerce deposit account are as follows: Commerce ATM, 7:00 PM CT; Commerce Online Banking, including Mobile Banking, 7:00 PM CT; Commerce Account Information Line, 7:00 PM CT; Commerce BankCards Online, 11:00 PM CT; Commerce Collections Department, 11:00 PM CT. A payment made through Commerce Online Xxxx Pay will be posted on the Pay Date. Conforming payments received after the respective cutoff time will be posted no later than the next Business Day. Payments made by a third- party payor, will be posted as of the date we receive the payment. When the due date falls on a weekend or holiday, your payment due date will be on the next Business Day. We may accept late payments, partial payments or checks and money orders (or accompanying written communication) containing a statement to the effect that the instrument was tendered as "payment in full," full satisfaction of a disputed claim or other similar language without losing any rights under this Agreement or under the law. All such payments or written communications must be mailed to: Commerce Bank, X.X. Xxx 000000, Xxxxxx Xxxx, XX 00000-0000.
Receipt of Payments. Each Borrower shall make each payment under this ------------------- Agreement (not otherwise made pursuant to Section 1.9) without set-off, counterclaim or deduction and free and clear of all Taxes not later than 11:00 A.M. (New York City time) on the day when due in lawful money of the United States of America in immediately available funds to the Collection Account. If any Borrower shall be required by law to deduct any Taxes from any payment to Lender under any Loan Document, then the amount payable to Lender shall be increased so that, after making all required deductions, Lender receives an amount equal to that which it would have received had no such deductions been made. For purposes of computing interest and Fees, all payments shall be deemed received by Lender 1 Business Day following receipt of immediately available funds in the Collection Account. For purposes of determining the Borrowing Availability, payments shall be deemed received by Lender upon receipt of immediately available funds in the Collection Account
Receipt of Payments. Borrower shall make each payment under this Agreement not later than 1:00 p.m. (Chicago time) on the day when due in immediately available funds in Dollars to the Collection Account. For purposes of computing interest and Fees and determining Borrowing Availability as of any date, all payments shall be deemed received on the Business Day on which immediately available funds therefor are received in the Collection Account prior to 1:00 p.m. (Chicago time). Payments received after 1:00 p.m. (Chicago time) on any Business Day or on a day that is not a Business Day shall be deemed to have been received on the following Business Day.
Receipt of Payments. Borrowers shall make each payment under this Agreement not later than 3:00 p.m. (New York, New York time) on the day when due in immediately available funds in Dollars to the Collection Account. For purposes of computing interest and Fees and determining Availability as of any date, all payments shall be deemed received on the Business Day on which immediately available funds are received in the Collection Account prior to 3:00 p.m. (New York time). Payments received after 3:00 p.m. (New York time) on any Business Day, or on a day that is not a Business Day, shall be deemed to have been received on the following Business Day. Unless stated otherwise, all calculations, comparisons, measurements, or determinations under this Agreement shall be made in Dollars. If Agent receives any payment from or on behalf of any Credit Party in a currency other than Dollars (or, with respect to amounts received in respect of Canadian Revolver Loans made in Canadian Dollars, Canadian Dollars), Agent may convert the payment (including the monetary proceeds of realization upon any Collateral and any funds then held in a cash collateral account) into Dollars at the Dollar Equivalent thereof or at the exchange rate that Agent would be prepared to sell Dollars against the currency received on the Business Day immediately preceding the date of actual payment. The Obligations shall be satisfied only to the extent of the amount actually received by Agent upon such conversion. Agent shall distribute such payments to Lender or other applicable Persons in like funds as received.
Receipt of Payments. Borrower shall make each payment under this Agreement not later than 2:00 p.m. (New York City time) on the day when due in lawful money of the United States of America in immediately available funds to Lender's depository bank in the United States as designated by Lender from time to time for deposit in Lender's depositary account. For purposes only of computing interest hereunder, all payments shall be applied by Lender to the Loan on the date payment has been credited by Lender's depository bank to Lender's account in immediately available funds.
