When Payments Due. (i) Each payment (including any prepayment) by Borrower on account of principal of or interest on the Term Loans and any other amounts owed to Lender on account of the Obligations shall be made not later than 11:00 a.m. (California time) on the date specified for payment under this Agreement to Lender in Dollars and in immediately available funds. Any payment received by Lender on a day that is not a Business Day or after 11:00 a.m. (California time) on a Business Day shall be deemed received on the next succeeding Business Day. (ii) If any payment on any Obligation is specified to be made upon a day that is not a Business Day, it shall be deemed to be specified to be made on the next succeeding day that 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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Sources: Loan and Security Agreement (Overhill Farms Inc), Loan and Security Agreement (Levine Leichtman Capital Partners Ii Lp)
When Payments Due. (i) Each payment (including any prepayment) by Borrower on account of the principal of or interest on the Term Loans and any other amounts amount owed to Lender Bank on account of the Obligations shall be made not later than 11:00 a.m. (California time) on the date specified for payment under this Agreement to Lender Bank in Dollars and in immediately available funds. Any payment received by Lender Bank on a day that is not a Business Day or after 11:00 a.m. (California time) on a Business Day shall be deemed received on the next succeeding Business Day.
(ii) If any payment on any Obligation is specified to be made upon a day that is not a Business Day, it shall be deemed to be specified to be made on the next succeeding day that 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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