Place and Mode of Payment by the Borrower Sample Clauses

The 'Place and Mode of Payment by the Borrower' clause defines where and how the borrower must make payments under the agreement. It typically specifies the exact location, such as a designated bank account or office, and the acceptable methods of payment, like wire transfer, check, or electronic funds transfer. By clearly outlining these requirements, the clause ensures that payments are made efficiently and reduces the risk of disputes over payment logistics.
Place and Mode of Payment by the Borrower. All moneys due and payable by the Borrower to IHFL under or in terms of this Agreement shall be paid at the registered office or the concerned regional /branch office of IHFL by cheque or bank draft, drawn in favor of IHFL on a bank in the town or city where such registered office/branch/regional office is situated or in any other manner as may be approved by IHFL and shall be so paid as to enable IHFL to realize the amount sought to be paid on or before the Due Date to which the payment relates. Credit for all payments by cheque/bank draft drawn will be given only on realization thereof by IHFL. The Borrower may choose to pay the regular EMI vide standing instruction to his banker or by selecting electronic clearing system, for payment on Due Date(s).
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Place and Mode of Payment by the Borrower a) The Borrower understands & undertakes that the Loan and all dues shall be amortized by any of the following modes: (i) ACH (ii) Deduction at source from salary (iii) Such other mode as may be approved by the Lender. All monies due and payable by the Borrower to the Lender under or in terms of this Agreement shall be paid at the registered office or the concerned regional/ branch office of the Lender by cheque or bank draft, drawn in favour of the Lender on a scheduled bank in the town or city where such registered office/ branch/ regional office is situated where the Lender has an account or ACH executed in favour of the Lender or in any other manner as may be approved by the Lender and shall be so paid as to enable the Lender to realize the amount sought to be paid on or before the due date to which the payment relates. Credit for all payments by cheque/ bank draft drawn will be given only on realization thereof by the Lender.
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Place and Mode of Payment by the Borrower. All the monies payable by the Borrower to the Lender shall be made directly to the Lender to any of its branches /offices as may be specified by them by Real Time Gross Settlement or such other electronic mode acceptable to the Lender to the account of such office (s). Credit for payment will be given on realization of the amount by the Lender or the relative due date, whichever is later.
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Place and Mode of Payment by the Borrower. All monies due and payable by the Borrower toAUSFB under or in terms of thisAgreement shall be paid at the registered office or the concerned regional/ branch office ofAUSFB by cheque or bank draft/RTGS/NEFT/ SI/ACH/NACH, drawn in favour ofAUSFB on a bank in the town or city where such registered office/branch/regional office is situated or in any other manner as may be approved by AUSFB and shall be so paid as to enable AUSFB to realise the amount sought to be paid on or before the Due Date to which the payment relates. Credit for all payments by cheque/ bank draft drawn/ACH/NACH will be given only on realisation thereof by AUSFB.
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Place and Mode of Payment by the Borrower. All monies payable by the Borrower to IREDA shall be paid to them at New Delhi by cheque or by bank draft drawn in favour of IREDA on a scheduled bank at New Delhi and shall be so paid as to enable the IREDA to realise, at par, the amount on or before the relative due date. Credit for all payments by local cheque/bank draft will be given on the Lenders' immediately next working day after the date of receipt of the instrument or the relative due date whichever is later. Credit for all payments made by outstanding cheques/Bank Draft will be given only on realisation or on the relative due date whichever is later.
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Place and Mode of Payment by the Borrower. All monies due and payable by the Borrower to BANDHAN BANK under the terms of this Agreement shall be paid at the registered office or the concerned regional/branch office of BANDHAN BANK by cheque, or bank draft, drawn in favour of BANDHAN BANK on a scheduled bank in the town or city where such registered office/branch/regional office is situated or in any other manner as may be approved by BANDHAN BANK and shall be so paid as to enable ‘BANDHAN BANK to realise the amount sought to be paid on or before the due date to which the payment relates. Credit for all payments by cheque/bank draft drawn will be given only on realisation thereof by BANDHAN BANK.
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Place and Mode of Payment by the Borrower. All cheques or demand drafts towards payment under this Agreement shall be drawn in favour of IHFL on a bank in the town or city where the Office of IHFL is situated and in case the Borrower is a NRI, all cheques or demand draft shall be drawn out of the Borrower's NRE/FCNR/NRO account.
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Place and Mode of Payment by the Borrower. (a) All moneys due and payable by the Borrower to IHFL under or in terms of this Agreement shall be paid at the registered office or the concerned regional /branch office of IHFL by cheque or bank draft, drawn in favor of IHFL on a bank in the town or city where such registered office/branch/regional office is situated or in any other manner as may be approved by IHFL and shall be so paid as to enable IHFL to realize the amount sought to be paid on or before the Due Date to which the payment relates. Credit for all payments by cheque/bank draft drawn will be given only on realization thereof by IHFL. The Borrower may choose to pay the regular EMI vide standing instruction to his banker or by selecting electronic clearing system, for payment on Due Date(s). (b) Notwithstanding anything to the contrary contained in this Agreement, or any other document or writing, IHFL shall have the right to receive and to apply/adjust/appropriate any monies that it may receive in connection with any insurance policy(s) wherein IHFL is a loss payee/ beneficiary/assignee against the amounts outstanding under Loan and, if applicable or necessary, vary the applicable Schedule, in any manner as it may deem fit, or cause the monies received to be appropriated for Repayment or payment of any amount due to it on the respective Due Dates.
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Place and Mode of Payment by the Borrower. All monies due and payable by the Borrower to the Bank under or in terms of this Agreement shall be paid at the registered office or the concerned regional/ branch office of the Bank by cheque or bank draft/RTGS/NEFT/SI/ACH/NACH/ECS, drawn in favour of the Bank on a bank in the town or city where such registered office/branch/regional office is situated or in any other manner as may be approved by the Bank and shall be so paid as to enable the Bank to realise the amount sought to be paid on or before the Due Date to which the payment relates. Credit for all payments by cheque/bank draft drawn SI/ACH/NACH will be given only on realisation thereof by the Bank.
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Related to Place and Mode of Payment by the Borrower

  • Presumption of Payment by the Borrower Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Bank that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the Issuing Bank, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or the Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or Issuing Bank with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.

  • Payments by the Borrowers Each Borrower shall, severally and not jointly, make each payment required to be made by such Borrower hereunder (whether of principal, interest, fees or reimbursement of LC Disbursements, or under Section 2.14, 2.15 or 2.16, or otherwise) or under any other Loan Document to which such Borrower is a party (except to the extent otherwise provided therein) prior to 2:00 p.m., Local Time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at the Administrative Agent’s Account, except as otherwise expressly provided in the relevant Loan Document to which such Borrower is a party and except payments to be made directly to an Issuing Bank as expressly provided herein and payments pursuant to Sections 2.14, 2.15, 2.16 and 9.03, which shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All amounts owing under this Agreement (including commitment fees, payments required under Section 2.14, and payments required under Section 2.15 relating to any Loan denominated in Dollars, but not including principal of, and interest on, any Loan denominated in any Foreign Currency or payments relating to any such Loan required under Section 2.15 or any reimbursement or cash collateralization of any LC Exposure denominated in any Foreign Currency, which are payable in such Foreign Currency) or under any other Loan Document (except to the extent otherwise provided therein) are payable in Dollars. Notwithstanding the foregoing, if a Borrower shall fail to pay any principal of any Loan made to such Borrower or LC Disbursement with respect to such Borrower when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise), the unpaid portion of such Loan or such LC Disbursement shall, if such Loan or such LC Disbursement is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such principal shall be payable on demand; and if a Borrower shall fail to pay any interest on any Loan made to such Borrower or LC Disbursement with respect to such Borrower that is not denominated in Dollars, such interest shall automatically be redenominated in Dollars on the due date therefor (or, if such due date is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such interest shall be payable on demand.

  • Assignment by the Company The rights, interests or obligations of the Company hereunder may not be assigned, by operation of law or otherwise, in whole or in part, by the Company without the prior written consent of the Investor.

  • Payments by the Borrower; Presumptions by Administrative Agent Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Bank hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or each applicable Issuing Bank, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or each applicable Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or the Issuing Bank, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. Notices given by the Administrative Agent under this subsection (b) shall be conclusive absent manifest error.

  • Payments by the Borrower The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or reimbursement of LC Disbursements, or of amounts payable under Section 5.01, Section 5.02, Section 5.03 or otherwise) prior to 12:00 noon, New York City time, on the date when due, in immediately available funds, without defense, deduction, recoupment, set-off or counterclaim. Fees, once paid, shall be fully earned and shall not be refundable under any circumstances. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at its offices specified in Section 12.01, except payments to be made directly to the Issuing Bank as expressly provided herein and except that payments pursuant to Section 5.01, Section 5.02, Section 5.03 and Section 12.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in dollars.