Common use of Payments and Calculations Clause in Contracts

Payments and Calculations. 16.1 Currency and method of payments. All payments to be made: (a) by the Lenders to the Agent; or (b) by the Borrower to the Agent, the Security Trustee or any Lender under a Finance Document shall be made to the Agent or to the Security Trustee, in the case of an amount payable to it: (i) by not later than 11.00 a.m. (Piraeus time) on the due date; (ii) in same day Dollar funds settled through the New York Clearing House Interbank Payments System (or in such other Dollar funds and/or settled in such other manner as the Agent shall specify as being customary at the time for the settlement of international transactions of the type contemplated by this Agreement); (iii) if in Dollars, to the account of the Agent at Bank of New York, USA or credit to the account of the Lender (account number 8033138548) or to such other account with such other bank as the Agent may from time to time notify to the Borrower and the other Creditor Parties; and (iv) in the case of an amount payable to the Security Trustee, to such account as it may from time to time notify to the Borrower and the other Creditor Parties.