When Payments Due. (i) Each payment (including any prepayment) by any Co-Borrower on account of the principal of or interest on the Loans, fees, and any other amount owed to the Banks or the Agent under this Agreement, the Notes, or the other Loan Documents shall be made not later than 1:00 p.m. (New York time) on the date specified for payment under this Agreement or 34 any other Loan Document to the Agent at the Agent's Office, for the account of the Banks or the Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Agent after 1:00 p.m. (New York time) shall be deemed received on the next Business Day. In the case of a payment for the account of a Bank, the Agent will promptly thereafter distribute the amount so received in like funds to such Bank. If the Agent shall not have received any payment from the Co-Borrowers as and when due, the Agent will promptly notify the Banks accordingly. (ii) If any payment under this Agreement or any of the Notes shall be specified to be made upon a day which is not a Business Day, it shall be made on the next succeeding day which is a Business Day, and such extension of time shall in such case be included in computing interest and fees, if any, in connection with such payment.
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When Payments Due. (i) Each payment (including any prepayment) by any Co-Borrower on account of the principal of or interest on the Loans, fees, and any other amount owed to the Banks or the Agent under this Agreement, the Notes, or the other Loan Documents shall be made not later than 1:00 p.m. (New York time) on the date specified for payment under this Agreement or 34 any other Loan Document to the Agent at the Agent's Office, for the account of the Banks or the Agent, as the case may be, in lawful money of the United States of America in immediately available funds. Any payment received by the Agent after 1:00 p.m. (New York time) shall be deemed received on the next Business Day. In the case of a payment for the account of a Bank, the Agent will promptly thereafter distribute the amount so received in like funds to such Bank. If the Agent shall not have received any payment from the Co-Borrowers as and when due, the Agent will promptly notify the Banks accordingly.
(ii) If any payment under this Agreement or any of the Notes shall be specified to be made upon a day which is not a Business Day, it shall be made on the next succeeding day which is a Business Day, and such extension of time shall in such case be included in computing interest and fees, if any, in connection with such payment.
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