Common use of Revolving Advances and Payments Fee Payments Clause in Contracts

Revolving Advances and Payments Fee Payments. (1) The Revolving Loan may fluctuate from day to day through Agent's disbursement of funds to, and receipt of funds from, Borrower. In order to minimize the frequency of transfers of funds between Agent and each Lender notwithstanding terms to the contrary set forth in Section 2 and subsection 9.5, Revolving Advances and repayments may be settled according to the procedures described in subsection 9.6(A)(2) and 9.6(A)(3) of this Agreement. Notwithstanding these procedures, each Lender's obligation to fund its Pro Rata Share of any advances made by Agent to Borrower will commence on the date such advances are made by Agent. Such payments will be made by such Lender without set-off, counterclaim or reduction of any kind. (2) Once each week, or more frequently (including daily), if Agent so elects (each such day being a "SETTLEMENT DATE"), Agent will advise each Lender by 1 p.m. Central time by telephone, telex, or telecopy of the amount of each such Lender's Pro Rata Share of the Revolving Loan. In the event payments are necessary to adjust the amount of such Lender's share of the Revolving Loan to such Lender's Pro Rata Share of the Revolving Loan, the party from which such payment is due will pay the other, in same day funds, by wire transfer to the other's account not later than 3:00 p.m. Central time on the Business Day following the Settlement Date. (3) On the first Business Day of each month ("INTEREST SETTLEMENT DATE"), Agent will advise each Lender by telephone, telefax or telecopy of the amount of interest and fees charged to and collected from Borrower for the preceding month. Provided that such Lender has made all payments required to be made by it under this Agreement, Agent will pay to such Lender, by wire transfer to such Lender's account (as specified by such Lender on the signature page of this Agreement as amended by such Lender from time to time after the date hereof pursuant to the notice provisions contained herein or in the applicable Assignment and Assumption Agreement) not later than 3 p.m. Central time on the next Business Day following the Interest Settlement Date such Lender's share of such interest and fees.

Appears in 2 contracts

Samples: Loan and Security Agreement (Spincycle Inc), Loan and Security Agreement (Spincycle Inc)

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Revolving Advances and Payments Fee Payments. (1) The Revolving Loan may fluctuate from day to day through Administrative Agent's disbursement of funds to, and receipt of funds from, BorrowerBorrowers. In order to minimize the frequency of transfers of funds between Administrative Agent and each Lender notwithstanding terms to the contrary set forth in Section 2 and subsection 9.5, Revolving Advances and repayments may be settled according to the procedures described in subsection 9.6(A)(2) and 9.6(A)(3) of this Agreement. Notwithstanding these procedures, each Lender's obligation to fund its Pro Rata Share of any advances made by Administrative Agent to Borrower Borrowers will commence on the date such advances are made by Administrative Agent. Such payments will be made by such Lender without set-off, counterclaim or reduction of any kind. (2) Once each week, or more frequently (including daily), if Administrative Agent so elects (each such day being a "SETTLEMENT DATESettlement Date"), Administrative Agent will advise each Lender by 1 1:00 p.m. Central time (New York time) by telephone, telex, or telecopy of the amount of each such Lender's Pro Rata Share of the Revolving Loan. In the event payments are necessary to adjust the amount of such Lender's share of the Revolving Loan to such Lender's Pro Rata Share of the Revolving Loan, the party from which such payment is due will pay the other, in same day funds, by wire transfer to the other's account not later than 3:00 p.m. Central time (New York time) on the Business Day following the Settlement Date. (3) On the first Business Day of each month ("INTEREST SETTLEMENT DATEInterest Settlement Date"), Administrative Agent will advise each Lender by telephone, telefax or telecopy of the amount of interest and fees charged to and collected from Borrower Borrowers for the preceding proceeding month. Provided that such Lender has made all payments required to be made by it under this Agreement, Administrative Agent will pay to such Lender, by wire transfer to such Lender's account (as specified by such Lender on the signature page of this Agreement as amended by such Lender from time to time after the date hereof pursuant to the notice provisions contained herein or in the applicable Assignment and Assumption Agreement) not later than 3 p.m. Central time (New York time) on the next Business Day following the Interest Settlement Date such Lender's share of such interest and fees.

Appears in 1 contract

Samples: Loan and Security Agreement (Comforce Operating Co)

Revolving Advances and Payments Fee Payments. (1) The Revolving Loan balance may fluctuate from day to day through Administrative Agent's disbursement of funds to, and receipt of funds from, BorrowerBorrowers. In order to minimize the frequency of transfers of funds between Administrative Agent and each Revolving Loan Lender notwithstanding terms to the contrary set forth in Section 2 and subsection 9.59.7, Revolving Advances and repayments may (except as set forth in subsection 2.1(D)) will be settled according to the procedures described in this subsection 9.6(A)(2) and 9.6(A)(3) of this Agreement9.8. Notwithstanding these procedures, each Revolving Loan Lender's ’s obligation to fund its Pro Rata Share portion of any advances made by Administrative Agent to Borrower Borrowers will commence on the date such advances are made by Administrative Agent. Such payments will be made by such Revolving Loan Lender without set-off, counterclaim or reduction of any kind. (2) Once each week, week for the Revolving Loan or more frequently (including daily), if Administrative Agent so elects (each such day being a "SETTLEMENT DATE"“Settlement Date”), Administrative Agent will advise each Revolving Loan Lender by 1 p.m. Central time by telephone, telex, fax or telecopy of the amount of each such Revolving Loan Lender's ’s Pro Rata Share of the Revolving Loan. In the event payments are necessary to adjust the amount of such Lender's share of the Revolving Loan to such Lender's ’s required Pro Rata Share of the Revolving LoanLoan balance to such Revolving Loan Lender’s actual Pro Rata Share of the Revolving Loan balance as of any Settlement Date, the party from which such payment is due will pay the other, in same day funds, by wire transfer to the other's ’s account not later than 3:00 p.m. Central Chicago time on the Business Day following the Settlement Date. (3) On the first Business Day For purposes of each month ("INTEREST SETTLEMENT DATE"this subsection 9.8(A), Agent the following terms and conditions will advise each Lender by telephone, telefax or telecopy of have the amount of interest and fees charged to and collected from Borrower for the preceding month. Provided that such Lender has made all payments required to be made by it under this Agreement, Agent will pay to such Lender, by wire transfer to such Lender's account (as specified by such Lender on the signature page of this Agreement as amended by such Lender from time to time after the date hereof pursuant to the notice provisions contained herein or in the applicable Assignment and Assumption Agreement) not later than 3 p.m. Central time on the next Business Day following the Interest Settlement Date such Lender's share of such interest and fees.meanings indicated:

Appears in 1 contract

Samples: Loan Agreement (Recoton Corp)

Revolving Advances and Payments Fee Payments. (1) The Revolving Loan may fluctuate from day to day through Agent's disbursement of funds to, and receipt of funds from, Borrower. In order to minimize the frequency of transfers of funds between Agent and each Lender notwithstanding terms to the contrary set forth in Section 2 and subsection 9.5, Revolving Advances and repayments may be settled according to the procedures described in subsection 9.6(A)(2) and 9.6(A)(3) of this Agreement. Notwithstanding these procedures, each Lender's obligation to fund its Pro Rata Share of any advances made by Agent to Borrower will commence on the date such advances are made by Agent. Such payments will be made by such Lender without set-off, counterclaim or reduction of any kind. (2) Once each week, or more frequently (including daily), if Agent so elects (each such day being a "SETTLEMENT DATESettlement Date"), Agent will advise each Lender by 1 p.m. Central time by telephone, telex, or telecopy of the amount of each such Lender's Pro Rata Share of the Revolving Loan. In the event payments are necessary to adjust the amount of such Lender's share of the Revolving Loan to such Lender's Pro Rata Share of the Revolving Loan, the party from which such payment is due will pay the other, in same day funds, by wire transfer to the other's account not later than 3:00 p.m. Central time on the Business Day following the Settlement Date. (3) On the first Business Day of each month ("INTEREST SETTLEMENT DATEInterest Settlement Date"), Agent will advise each Lender by telephone, telefax or telecopy of the amount of interest and fees charged to and collected from Borrower for the preceding proceeding month. Provided that such Lender has made all payments required to be made by it under this Agreement, Agent will pay to such Lender, by wire transfer to such Lender's account (as specified by such Lender on the signature page of this Agreement as amended by such Lender from time to time after the date hereof pursuant to the notice provisions contained herein or in the applicable Assignment and Assumption Lender Addition Agreement) not later than 3 p.m. Central time on the next Business Day following the Interest Settlement Date such Lender's share of such interest and fees.

Appears in 1 contract

Samples: Loan and Security Agreement (Continental Information Systems Corp)

Revolving Advances and Payments Fee Payments. (1) The Revolving Loan may fluctuate from day to day through Collateral Monitoring Agent's disbursement of funds to, and receipt of funds from, BorrowerBorrowers. In order to minimize the frequency of transfers of funds between Collateral Monitoring Agent and each Lender notwithstanding terms to the contrary set forth in Section 2 and subsection 9.5, Revolving Advances and repayments may be settled according to the procedures described in subsection 9.6(A)(2) and 9.6(A)(3) of this Agreement. Payments of principal, interest and fees in respect of the Term Loans will be settled on the Business Day received in accordance with the provisions of Section 2. Notwithstanding these procedures, each Lender's obligation to fund its Pro Rata Share of any advances made by Collateral Monitoring Agent to Borrower Borrowing Agent or pursuant to its directions will commence on the date such advances are made by Collateral Monitoring Agent. Such payments will be made by such Lender without set-off, counterclaim or reduction of any kind. (2) Once each week, or more frequently (including daily), if Collateral Monitoring Agent so elects (each such day being a "SETTLEMENT DATESettlement Date"), Collateral Monitoring Agent will advise each Lender by 1 p.m. Central time by telephone, telex, or telecopy of the amount of each such Lender's Pro Rata Share of the Revolving Loan. In the event payments are necessary to adjust the amount of such Lender's share of the Revolving Loan to such Lender's Pro Rata Share of the Revolving Loan, the party from which such payment is due will pay the other, in same day funds, by wire transfer to the other's account not later than 3:00 p.m. Central time on the Business Day following the Settlement Date. (3) On the first Business Day of each month ("INTEREST SETTLEMENT DATEInterest Settlement Date"), Collateral Monitoring Agent will advise each Lender by telephone, telefax or telecopy of the amount of interest and fees charged to and collected from Borrower Borrowers for the preceding proceeding month. Provided that such Lender has made all payments required to be made by it under this Agreement, Collateral Monitoring Agent will pay to such Lender, by wire transfer to such Lender's account (as specified by such Lender on the signature page of this Agreement as amended by such Lender from time to time after the date hereof pursuant to the notice provisions contained herein or in the applicable Assignment and Assumption Agreement) not later than 3 p.m. Central time on the next Business Day following the Interest Settlement Date such Lender's share of such interest and fees.wire

Appears in 1 contract

Samples: Loan and Security Agreement (Belding Heminway Co Inc /De/)

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Revolving Advances and Payments Fee Payments. (1) The Revolving Loan may fluctuate from day to day through Agent's disbursement of funds to, and receipt of funds from, BorrowerBorrowers. In order to minimize the frequency of transfers of funds between Agent and each Lender notwithstanding terms to the contrary set forth in Section 2 and subsection 9.5, Revolving Advances and repayments may be settled according to the procedures described in subsection 9.6(A)(2) and 9.6(A)(3) of this Agreement. Notwithstanding these procedures, each Lender's obligation to fund its Pro Rata Share of any advances made by Agent to Borrower Borrowers will commence on the date such advances are made by Agent. Such payments will be made by such Lender without set-off, counterclaim or reduction of any kind. (2) Once each week, or more frequently (including daily), if Agent so elects (each such day being a "SETTLEMENT DATESettlement Date"), Agent will advise each Lender by 1 p.m. Central time by telephone, telex, or telecopy of the amount of each such Lender's Pro Rata Share of the Revolving Loan. In the event payments are necessary to adjust the amount of such Lender's share of the Revolving Loan to such Lender's Pro Rata Share of the Revolving Loan, the party from which such payment is due will pay the other, in same day funds, by wire transfer to the other's account not later than 3:00 p.m. Central time on the Business Day following the Settlement Date. (3) On the first Business Day of each month ("INTEREST SETTLEMENT DATEInterest Settlement Date"), Agent will advise each Lender by telephone, telefax or telecopy of the amount of interest and fees charged to and collected from Borrower Borrowers for the preceding proceeding month. Provided that such Lender has made all payments required to be made by it under this Agreement, Agent will pay to such Lender, by wire transfer to such Lender's account (as specified by such Lender on the signature page of this Agreement as amended by such Lender from time to time after the date hereof pursuant to the notice provisions contained herein or in the applicable Assignment and Assumption Agreement) not later than 3 p.m. Central time on the next Business Day following the Interest Settlement Date such Lender's share of such interest and fees.

Appears in 1 contract

Samples: Loan and Security Agreement (Comforce Corp)

Revolving Advances and Payments Fee Payments. (1i) The Revolving Loan may fluctuate from day to day through the Agent's ’s disbursement of funds to, and receipt of funds from, Borrower. In order to minimize the frequency of transfers of funds between the Agent and each Lender notwithstanding terms to the contrary set forth in Section 2 and subsection Section 9.5, Revolving Advances and repayments may be settled according to the procedures described in subsection 9.6(A)(2Section 9.6(a)(ii) and 9.6(A)(39.6(a)(iii) of this Agreement. Notwithstanding these procedures, each Lender's ’s obligation to fund its Pro Rata Share of any advances made by the Agent to Borrower will commence on the date such advances are made by the Agent. Such payments will be made by such Lender without set-off, counterclaim or reduction of any kind. (2ii) Once each week, or more frequently (including daily), if the Agent so elects (each such day being a "SETTLEMENT DATE"“Settlement Date”), the Agent will advise each Lender by 1 p.m. Central time 1:00 p.m., Eastern time, by telephone, telex, or telecopy of the amount of each such Lender's ’s Pro Rata Share of the Revolving Loan. In the event payments are necessary to adjust the amount of such Lender's ’s share of the Revolving Loan to such Lender's ’s Pro Rata Share of the Revolving Loan, the party from which such payment is due will pay the other, in same day funds, by wire transfer to the other's ’s account not later than 3:00 p.m. Central time p.m., Eastern time, on the Business Day following the Settlement Date. (3iii) On the first Business Day of each month ("INTEREST SETTLEMENT DATE"“Interest Settlement Date”), the Agent will advise each Lender by telephone, telefax or telecopy of the amount of interest and fees charged to and collected from Borrower for the preceding proceeding month. Provided that such Lender has made all payments required to be made by it under this Agreement, the Agent will pay to such Lender, by wire transfer to such Lender's ’s account (as specified by such Lender on the signature page of this Agreement as amended by such Lender from time to time after the date hereof pursuant to the notice provisions contained herein or in the applicable Assignment and Assumption Agreementany additional agreement pursuant to Section 9.1 hereof) not later than 3 p.m. Central time 3:00 p.m., Eastern time, on the next Business Day following the Interest Settlement Date such Lender's ’s share of such interest and fees.

Appears in 1 contract

Samples: Credit and Security Agreement (Tower Air Inc)

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