Payments and Computations definition

Payments and Computations. The Borrower shall make each payment hereunder in respect of interest on, principal of, or other amounts related to the Revolving Loan not later than 12:00 noon (Eastern Time) on the day when due in Dollars in same day funds, with payments being so received by the Lender after such time being deemed to have been made on the next succeeding Business Day. All computations of interest hereunder shall be made by the Lender on the basis of a year of three hundred sixty (360) days for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest is payable. Each determination by the Lender of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error. Whenever any payment 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 such case be included in the computation of payment of interest.
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Payments and Computations. The Borrower shall make each payment hereunder to the Lender, on the day when due, in lawful money of the United States of America in same day funds, by wire transfer to the Lender's account (provide wire instructions) not later than 12:00 noon (New York City time). Computations of the LIBOR rate, commissions, and fees shall be made by the Lender on the basis of a year of 360 days for the actual number of days (including the first day but excluding the last day) elapsed. Whenever any payment to be made hereunder shall be stated to be due, or whenever the last day of any Interest Period would otherwise occur, on a day which is not a Business Day, such payment shall be made, and the last day of such Interest Period shall occur, on the next succeeding Business, and such extension of time shall in such case be included in the computation of interest, commission or fee, as the case may be.
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Payments and Computations. The Borrower hereby irrevocably authorizes ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇ (hereinafter defined) from time to time to pay to the Lender on behalf of the Borrower any amount due hereunder or under the Note by application of funds from any Free Credit Balance (hereinafter defined) existing at such time or from redemption or other disposition of any MS BusinesScape Funds (hereinafter defined) or under the Note in the Borrower's MS BusinesScape Account (hereinafter defined); and the Borrower hereby authorizes ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇ from time to time to redeem or otherwise dispose of such MS BusinesScape Funds for the purpose of obtaining funds to make such payment. The Borrower agrees to deposit or otherwise make available to the Borrower's MS BusinesScape Account for the account of the Lender on the day when due, the amount necessary for the purpose of making payment of any amount due hereunder or under the Note. The Borrower shall make each payment under the Note in respect of interest on, principal of, or other amount related to the Loan, not later than 12:00 noon (New York City time) on the day when due in United States Dollars (hereinafter defined) in same day funds, with payments being so received by the Lender after such time being deemed to have been made on the next succeeding Business Day (hereinafter defined). All computations of interest under the Note shall be made by the Lender on the basis of a year of 365 or 366 days, as the case may be, in each case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest is payable. Each determination by the Lender of an interest rate under the Note shall be conclusive and binding for all purposes, absent manifest error. Whenever any payment hereunder or under the Note 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 such case be included in the computation of payment of interest.
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Examples of Payments and Computations in a sentence

  • The Administrative Agent may, from time to time after funds are deposited in any Cash Collateral Account, apply funds then held in such Cash Collateral Account to the payment of any amounts, in accordance with Section 2.9(d) (Mandatory Prepayments) and Section 2.13(g) (Payments and Computations), as shall have become or shall become due and payable by the Borrower to the Issuers or Lenders in respect of the Letter of Credit Obligations.

  • The Administrative Agent may, from time to time after funds are deposited in any Cash Collateral Account, apply funds then held in such Cash Collateral Account to the payment of any amounts, in accordance with Section 2.9(c) or (d) (Mandatory Prepayments) and Section 2.13(g) (Payments and Computations), as shall have become or shall become due and payable by the Borrower to the Issuers or Lenders in respect of the Letter of Credit Obligations.

  • Upon the occurrence and during the continuance of an Event of Default, the Borrower shall pay to the Administrative Agent any payment of all or any part of the Guarantor Subordinated Debt and any amount so paid to the Administrative Agent shall be applied to payment of the Obligations as provided in Section 2.13(f) (Payments and Computations) of the Credit Agreement.

  • The Administrative Agent may, from time to time after funds are deposited in the Cash Collateral Account, apply funds then held in the Cash Collateral Account to the payment of any amounts, in accordance with Section 2.12(f) (Payments and Computations), as shall have become or shall become due and payable by such Borrower to the Issuers or Lenders in respect of such Borrower’s Letter of Credit Obligations.

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  • Class Initial Certificate Balance or Notional Amount(1) Initial Approx.

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Related to Payments and Computations

  • Payments has the meaning set forth in Section 6.12.1.

  • Loan Payments means the amounts required to be paid by the Company in repayment of the Loan pursuant to Section 4.1 hereof.

  • Progress Payments County shall make periodic progress payments consist with the Contract Price on the basis of Contractor's Applications for Payments, as provided in paragraph 5.2.1 below. (Payment pursuant to this Contract shall be made as earned, in whole or in part, from available County funds in an amount not to exceed the contract amount.) 5.2.1 Prior to Contract Completion, unless terminated prior to Completion, progress payments shall occur in an amount equal to:

  • Operation and Maintenance Costs means the costs of:

  • Consolidated Rental Payments means, for any period, the aggregate amount of all rents paid or payable by Borrower and its Subsidiaries on a consolidated basis during that period under all Operating Leases to which Borrower or any of its Subsidiaries is a party as lessee.