Common use of MODE OF PAYMENTS Clause in Contracts

MODE OF PAYMENTS. Each payment to Squirrel under this Loan Agreement and the Securities is to be made by 2.00pm (being the end of day for payment purposes) on the due date in immediately available freely transferable funds in the manner and to the account at the bank which Squirrel, by notice to you, specifies from time to time. If a payment is made on the due date but after the specified end of day for payment purposes, you shall pay to Squirrel, on request, interest on the amount paid until the next Business Day (as if the payment were made on the later day). Payments to be Free and Clear

MODE OF PAYMENTS. Each payment to Squirrel under this Loan Agreement and the Securities is to be made by 2.00pm (being the end of day for payment purposes) on the due date in immediately available freely transferable funds in the manner and to the account at the bank which Squirrel, by notice to you, specifies from time to time. If a payment is made on the due date but after the specified end of day for payment purposes, you shall pay to Squirrel, on request, interest on the amount paid until the next Business Day (as if the payment were made on the later day). Payments to be Free and Clear.