Common use of Currency, Time and Place of payment Clause in Contracts

Currency, Time and Place of payment. All amounts payable by the Borrower under the Credit Documents will be paid in the currency of the relevant Credit Obligation or, if no currency is stipulated, in Dollars, in immediately available funds, without deduction, set-off or counter-claim. Amounts payable by the Borrower hereunder will be paid at the Lender’s main branch in Montreal. Payments will be made before 2:00 p.m. on the day such payments are due. Amounts due on a day other than a Business Day will be deemed to be due on the Business Day next following such day. Interest and fees payable under this Agreement are payable both before and after any or all of default, demand and judgment.