Common use of Payment Date Reporting Clause in Contracts

Payment Date Reporting. The Borrower shall deliver (or shall cause to be delivered) a Borrowing Base Certificate, determined as of the day that is two Business Days prior to each Payment Date, and delivered to the Administrative Agent and Collateral Custodian not later than the Business Day preceding the related Payment Date. Each such Borrowing Base Certificate shall contain instructions to the Collateral Custodian to withdraw on the related Payment Date from the applicable Collection Account and pay or transfer amounts set forth in such report in the manner specified, and in accordance with the priorities established, in Section 2.7 or Section 2.8, as applicable.

Payment Date Reporting. The Borrower shall deliver (or shall cause to be delivered) a Borrowing Base Certificate, determined as of the day that is two (2) Business Days prior to each Payment Date, and delivered to the Administrative Agent and Collateral Custodian not later than the Business Day preceding the related Payment Date. Each such Borrowing Base Certificate shall contain instructions to the Collateral Custodian to withdraw on the related Payment Date from the applicable Collection Account and pay or transfer amounts set forth in such report in the manner specified, and in accordance with the priorities established, in Section 2.7 or Section 2.8, as applicable.