Obligations and Payments Clause Samples

Obligations and Payments. (a) Unless otherwise specified, all Obligations, including all Loans and any debit balance(s) in the Borrower's account(s), shall be payable on the Termination Date, or if earlier, the effective termination date of this Agreement. Recourse to the Collateral will not be required at any time. All credit balances or other sums at any time outstanding to the Borrower's credit and all reserves on the Lender's books, and all of the Borrowers property in the possession of the Lender at any time or in the possession of any parent, Affiliate or Subsidiary of the Lender, or in which the Lender or any parent, Affiliate or Subsidiary of any of them has a Lien or security interest, may be held and reserved by the Lender as security for all Obligations. (b) The Borrower recognizes that the amounts evidenced by checks, notes, drafts or any other items of payment relating to and/or proceeds of Accounts or Lease Payment Receivables may not be collectible by the Lender on the date received. The Lender shall only conditionally credit the Borrower's account(s) on the Lender's books at such time as the Lender receives such payment. In making computations under this Agreement, the settlement date for each payment received, and the date on which the corresponding Account or Lease Payment Receivable shall be deemed paid for purposes of calculating the Revolver Borrowing Base, shall be three (3) Business Days after the date on which the payment is actually received by the Lender, provided that such items of payment have been collected in good funds and finally credited to the Lender's account. The Lender shall not, however, be required to credit the Borrower's account for the amount of any item of payment which is unsatisfactory to the Lender in its reasonable discretion and the Lender may charge the Borrower's account(s) for the amount of any item of payment which is returned to the Lender unpaid. (c) All payments (including prepayments) of principal, interest and other amounts payable hereunder, or under any of the related agreements shall be made to the Lender, without set-off or counterclaim at the Lending Office not later than 1:00 p.m. (New York City time) on the due date therefor in lawful money of the United States of America in federal or other funds immediately available to the Lender. If any payment hereunder becomes due and payable on a day other than a Business Day, such payment shall be extended to the next succeeding Business Day, and, with respect to payments of pr...
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Obligations and Payments. 11.4.1 Except as otherwise specifically provided in this Agreement, in the event that one of the parties to this Agreement is in default with payments under this Agreement, it shall pay default interest at a rate per annum equal to Basiszinssatz plus 2% Interest shall be compounded quarterly and shall be calculated on the basis of actual days elapsed divided by 365. The right to claim further damages, if any, shall remain unaffected. 11.4.2 PAG and PMG are jointly and severally liable for each other's obligations under this Agreement. 11.4.3 Any rights of retention of PAG or PMG are excluded.
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Obligations and Payments 
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Related to Obligations and Payments

  • Disbursements and Payments Each disbursement by the Bank and each payment by the Borrower will be: (a) made at the Bank's branch (or other location) selected by the Bank from time to time; (b) made for the account of the Bank's branch selected by the Bank from time to time; (c) made in immediately available funds, or such other type of funds selected by the Bank; (d) evidenced by records kept by the Bank. In addition, the Bank may, at its discretion, require the Borrower to sign one or more promissory notes.

  • Advances and Payments (a) On the date requested by the Borrower for the funding of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the Lenders, the amount of the Loan to be made by it in accordance with provisions of Article 2 hereof. Each of the Lenders hereby authorizes and requests the Agent to advance for its account, pursuant to the terms hereof, the amount of the Loan to be made by it, and each of the Lenders agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent. If any such reimbursement is not made in immediately available funds on the same day on which the Agent shall have made any such amount available on behalf of any Lender, such Lender shall pay interest to the Agent at a rate per annum equal to the Agent's cost of obtaining overnight funds in the New York Federal Funds Market for the first day following the time when such Lender fails to make the required reimbursement, and thereafter at a rate per annum equal to the Alternate Rate. (b) Any amounts received by the Agent in connection with this Agreement or the Notes the application of which is not otherwise provided for, shall be applied, first, to pay accrued but unpaid Commitment Fees in accordance with the Lenders' unused Commitments, second, to pay accrued but unpaid interest on the Notes in proportion to the amounts owed to each Lender, third, to repay the principal balance outstanding on the Notes (allocated in accordance with the outstanding amounts thereof owing to each Lender as set forth on the Schedule of Commitments attached as Schedule 1.1 hereto) and fourth, to pay other amounts payable to the Agent. All amounts to be paid to any of the Lenders by the Agent shall be credited to the Lenders, after collection by the Agent, in immediately available funds either by wire transfer or deposit in such Lender's correspondent account with the Agent, or as such Lender and the Agent shall from time to time agree.

  • Fees and Payments Registry Operator shall pay the Registry-Level Fees to ICANN on a quarterly basis in accordance with Section 7.2 hereof.

  • ▇▇▇▇▇▇▇▇ and Payments ▇▇▇▇▇▇▇▇ and payments shall be sent to the addresses set out in Appendix F hereto.

  • Costs and Payments During the period that Sprint PCS is curing a breach or operating the Service Area Network under this Section 11.6.3, Sprint PCS and Manager will continue to make any and all payments due to the other party and to third parties under this agreement, the Services Agreement and any other agreements to which such party is bound, except that Sprint PCS may deduct from its payments to Manager all reasonable costs and expenses incurred by Sprint PCS in connection with the exercise of its right under this Section 11.6.3. Sprint PCS' operation of the Service Area Network pursuant to this Section 11.6.3 is not a substitution for Manager's performance of its obligations under this agreement and does not relieve Manager of its other obligations under this agreement.