Extensions of Credit Payments and Interest Calculations Sample Clauses

Extensions of Credit Payments and Interest Calculations. 6.1 PROCEDURE FOR BORROWING. Bank may honor any instructions for advances or repayments or for the designation of optional interest rates which are in writing and signed by two (2) authorized employees of Borrower. Advances will be deposited into and repayments will be withdrawn from Borrower's commercial account number 14559-00150 at the North Orange County Regional Commercial Banking Office of Bank, or such other account(s) as may be specified in writing by Borrower. Bank shall honor any instructions made by any two (2) individuals authorized to sign loan agreements on behalf of Borrower, or any other individual designated by any such authorized signers. Bank shall be entitled to rely upon written instructions from persons it reasonably believes to be authorized by Borrower to make such requests without making independent inquiry. Borrower hereby indemnifies Bank for, and holds Bank harmless from, any and all losses, damages, claims and expenses (including reasonable attorneys' fees and allocated costs of Bank's in-house counsel), however arising, which Bank suffers or incurs based on or arising out of extensions of credit or payments made on any written request except that Bank shall not be indemnified against its own gross negligence or willful misconduct. The provisions of this Section 6.1 shall survive termination of this Agreement.
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Extensions of Credit Payments and Interest Calculations 
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Related to Extensions of Credit Payments and Interest Calculations

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  • Payments of Principal and Interest Prepayments Fees Section 3.01 Repayment of Loans 33 Section 3.02 Interest 33 Section 3.03 Alternate Rate of Interest 34 Section 3.04 Prepayments 35 Section 3.05 Fees 36

  • Payments and Interest Payments required of PURCHASER by this contract or modifications of this contract, other than those in Sections 13 and 42, shall be received by STATE within the time period stated on the instrument requesting payment from PURCHASER. Payments received after the due date stated on the billing instrument may be subject to an interest charge. The interest rate applied to overdue payments shall be the prime interest rate in effect on the day the payment became delinquent, as established by U.S. Bank, ▇▇▇▇ and ▇▇▇▇ Branch, plus 4 percent. Interest shall be calculated from the date of the original billing to the date payment is received by the State Forester.

  • Payments Pursuant to Letters of Credit The Borrower agrees to reimburse immediately the Letter of Credit Issuer for any draw under any Letter of Credit and the Agent for the account of the Lenders upon any payment pursuant to any Credit Support, and to pay the Letter of Credit Issuer the amount of all other charges and fees payable to the Letter of Credit Issuer in connection with any Letter of Credit immediately when due, irrespective of any claim, setoff, defense or other right which the Borrower may have at any time against the Letter of Credit Issuer or any other Person. Each drawing under any Letter of Credit shall constitute a request by the Borrower to the Agent for a Borrowing of a Base Rate Revolving Loan in the amount of such drawing. The Funding Date with respect to such borrowing shall be the date of such drawing.