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Erroneous Payments
Erroneous Payments contract clause examples

Payments. If Borrower fails to pay when due and payable, or when declared due and payable, # all or any portion of the Obligations consisting of interest, fees, or charges due the Lender Group or reimbursement of Lender Group Expenses, (other than any portion thereof constituting principal), including any portion thereof that accrues after the commencement of an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in part as a claim in any such Insolvency Proceeding, and such failure continues for a period of 3 Business Days, # any other amounts constituting Obligations (other than principal of the Loans or amounts owing to an Issuing Lender in reimbursement of a drawing under a Letter of Credit), and such failure continues for a period of 5 Business Days, # all or any portion of the principal of the Loans, or # any amount payable to Issuing Lender in reimbursement of any drawing under a Letter of Credit.

Payments. If Borrowers fail to pay when due and payable, or when declared due and payable, # all or any portion of the Obligations consisting of interest, fees, or charges due the Lender Group, reimbursement of Lender Group Expenses, or other amounts (other than any portion thereof constituting principal) constituting Obligations (including any portion thereof that accrues after the commencement of an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in part as a claim in any such Insolvency Proceeding), and such failure continues for a period of 3 Business Days, # all or any portion of the principal of the Loans, or # any amount payable to Issuing Bank in reimbursement of any drawing under a Letter of Credit;

Payments. If Borrowers fail to pay when due and payable, or when declared due and payable, # all or any portion of the Obligations consisting of interest, fees, or charges due the Lender Group, reimbursement of Lender Group Expenses, or other amounts (other than any portion thereof constituting principal) constituting Obligations (including any portion thereof that accrues after the commencement of an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in part as a claim in any such Insolvency Proceeding), and such failure continues for a period of three Business Days (or ten days after Agent has made a demand therefor, in the case of expenses which are reimbursable or indemnified by a Loan Party under this Agreement or any other Loan Document), # all or any portion of the principal of the Loans, or # any amount payable to Issuing Bank in reimbursement of any drawing under a Letter of Credit;

If Borrowers fail to pay when due and payable, or when declared due and payable, # all or any portion of the Obligations consisting of interest, fees, or charges due the Lender Group, reimbursement of Lender Group Expenses, or other amounts (other than any portion thereof constituting principal) constituting Obligations (including any portion thereof that accrues after the commencement of an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in part as a claim in any such Insolvency Proceeding), and such failure continues for a period of three (3) Business Days, or # all or any portion of the principal of the Obligations;

Payment. The Borrowers shall default in the payment # when due of any principal amount of any Loans or any reimbursement obligation arising from drawings under Letters of Credit or # within three days of when due of any interest on the Loans or any fees or other amounts owing hereunder, under any of the other Credit Documents or in connection herewith.

Non Payment. Any Borrower or any other Loan Party fails to pay # when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation, or # within three (3) days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or # within five (5) days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or

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