Time and Place of Payments Clause Samples
The "Time and Place of Payments" clause defines when and where payments under the contract must be made. It typically specifies the due dates for payments, such as upon delivery of goods or at regular intervals, and designates the method or location for payment, such as a particular bank account or office. This clause ensures both parties are clear about payment logistics, reducing the risk of disputes or delays by establishing concrete expectations for fulfilling financial obligations.
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Time and Place of Payments. Unless otherwise expressly provided herein, the Borrower shall make all payments pursuant to this agreement or pursuant to any document, instrument or agreement delivered pursuant hereto by deposit to the relevant Designated Account before 1:00 p.m. (Toronto time) on the day specified for payment and the Administrative Agent shall be entitled to withdraw the amount of any payment due to the Administrative Agent or the Lenders hereunder from such accounts on the day specified for payment.
Time and Place of Payments. (a) Except as otherwise provided in Section 3.03(b) (Reimbursement to Issuing Banks) and Section 2.07(j) (Swing Line Loans), the Borrower shall make each payment (including any payment of principal of or interest on any Working Capital Loan, LC Loan or Swing Line Loan or any Fees or other Working Capital Obligations) hereunder without set-off, deduction or counterclaim not later than 12:00 noon, New York City time (except in the case of payments permitted under Section 2.01(d) (Working Capital Loans) above, which may be made in accordance with the timing provided in Section 2.04(a) (Funding)), on the date when due in US Dollars and, in immediately available funds, to the Working Capital Facility Agent at the account set forth in Schedule 4.13 (Working Capital Facility Agent Account Details) hereto or at such other office or account as may from time to time be specified by the Working Capital Facility Agent to the Borrower. Funds received after 12:00 noon, New York City time, shall be deemed to have been received by the Working Capital Facility Agent on the next succeeding Business Day.
(b) The Working Capital Facility Agent shall promptly remit in immediately available funds to each Working Capital Secured Party its share, if any, of any payments received by the Working Capital Facility Agent for the account of such Working Capital Secured Party.
(c) Whenever any payment (including any payment of principal of or interest on any Working Capital Loan, LC Loan or Swing Line Loan or any Fees or other Working Capital Obligations) hereunder shall become due, or otherwise would occur, on a day that is not a Business Day, such payment shall (except as otherwise required by the proviso to the definition of “Interest Period” with respect to Term SOFR Loans and in the case of the Working Capital Final Maturity Date, the LC Loan Termination Date and the Swing Line Loan Termination Date, as applicable, in which case the due date for payment shall be the immediately preceding Business Day) be made on the immediately succeeding Business Day, and such increase of time shall in such case be included in the computation of interest or Fees, if applicable.
Time and Place of Payments. I will pay principal and interest by making a payment every month. I will make my monthly payments on the ______________ day of each month beginning on __________________________, __________________. I will make these payments every month until I have paid all of the principal and interest and any other charges described below that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal. If, on __________________________, ____________, I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the “Maturity Date.” I will make my monthly payments at ______________________________________________________________________ ____________________________________________________________or at a different place if required by the Note Holder.
Time and Place of Payments. No payments will be due on this Note unless I am in default. If I am in default, I will pay any unforgiven amount at _____________________ or at a different place if required by the Note Holder.
Time and Place of Payments. (a) Except as provided in Section 3.02(b) (Reimbursement to Issuing Banks), the Borrower shall make each payment (including any payment of principal of or interest on any Loan or any Fees or other Loan Obligations) hereunder without set-off, deduction or counterclaim not later than 12:00 noon New York City time on the date when due in Dollars and, in immediately available funds, to the Credit Facility Agent at the account set forth in Schedule IV (Credit Facility Agent Account Details) or at such other office or account as may from time to time be specified by the Credit Facility Agent to the Borrower. Funds received after 12:00 noon New York City time may, at the Credit Facility Agent’s discretion, be deemed to have been received by the Credit Facility Agent on the next succeeding Business Day.
(b) The Credit Facility Agent shall promptly remit in immediately available funds to each Credit Facility Secured Party its share, if any, of any payments received by the Credit Facility Agent for the account of such Credit Facility Secured Party.
(c) Whenever any payment (including any payment of principal of or interest on any Term Loan or any Fees or other Loan Obligations) hereunder shall become due, or otherwise would occur, on a day that is not a Business Day, such payment shall (except as otherwise required by the proviso to the definition of “Interest Period” with respect to SOFR Loans and in the case of the Final Maturity Date, in which case the due date for payment shall be the immediately preceding Business Day) be made on the immediately succeeding Business Day, and such increase of time shall in such case be included in the computation of interest or Fees, if applicable.
Time and Place of Payments. The Borrower shall make each payment hereunder at the office of the Bank set forth in, or designated by the Bank pursuant to, Section 8 hereof, on the day when due, in freely transferable Dollars representing "same day" funds. Whenever any payment to be made hereunder or under any instrument delivered hereunder shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day; and such extension of time shall in each such case be excluded in the computation and payment of Interest.
Time and Place of Payments. (a) Except as otherwise provided in Section 3.03(b) (
Time and Place of Payments. Unless otherwise expressly provided herein, the Borrower shall make all payments pursuant to this Agreement or pursuant to any document, instrument or agreement delivered pursuant hereto by deposit to the appropriate Designated Account before 12:00 noon (Toronto time) on the day specified for payment and the Agent shall be entitled to withdraw the amount of any payment due to the Agent, the Lenders or any of them from such account on the day specified for payment. Any such payment received on the day specified for such payment but after 12:00 noon (Toronto time) thereon shall be deemed to have been received prior to 12:00 noon (Toronto time) on the Business Day immediately following such day specified for payment.
Time and Place of Payments. The Borrower covenants and agrees to establish and maintain throughout the term of the Facility a pre-authorized electronic debit arrangement with a financial institution on terms satisfactory to the Agent, pursuant to which all payments coming due to the Agent in respect of payment of fees and repayment of principal, interest and other amounts coming due under this Agreement shall be made. All payments made by the Borrower pursuant to this Agreement or pursuant to any other Facility Document shall be made before 4:00 p.m. (Toronto time) on the day specified for payment and the Agent shall be entitled to withdraw the amount of any payment due to it hereunder from such account on the day specified for payment. Any payment received after 4:00 p.m. (Toronto time) on the day specified for such payment shall be deemed to have been received before 4:00 p.m. (Toronto time) on the immediately following Business Day. All payments shall be made to the place of payment specified for the Agent in Schedule A hereto.
Time and Place of Payments. Unless otherwise expressly provided herein, the Borrower shall make all payments pursuant to this agreement or pursuant to any document, instrument or agreement delivered pursuant hereto by deposit to the relevant Designated Account before 12:00 noon (Toronto time) on the day specified for payment and the Administrative Agent shall be entitled to withdraw the amount of any payment due to the Administrative Agent or the Lenders hereunder from such account on the day specified for payment. In addition to the foregoing, the Borrower authorizes and directs the Administrative Agent to debit automatically, by mechanical, electronic or manual means, any bank account of the Borrower maintained with the Administrative Agent for all amounts due and payable by the Borrower under this agreement, including the repayment of principal and the payment of interest, fees and all charges for the keeping of that bank account. The Administrative Agent shall notify the Borrower as to the particulars of those debits in the normal course.