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Medium of Payment
Medium of Payment contract clause examples

Payment. Except to the extent provided to the contrary in Section 2.10 or Section 2.12(a), all interest, all Letter of Credit fees, all usage charges, all other fees payable hereunder or under any of the other Loan Documents, and all costs, expenses, and Lender Group Expenses payable hereunder or under any of the other Loan Documents shall be due and payable, in arrears, on the first day of each month at any time that Obligations or Commitments are outstanding. Each Borrower hereby authorizes Agent, from time to time without prior notice to such Borrower, to charge all interest, Letter of Credit fees, and all other fees payable hereunder or under any of the other Loan Documents (in each case, as and when due and payable), all costs, expenses, and Lender Group Expenses payable hereunder or under any of the other Loan Documents (in each case, as and when incurred), all charges, commissions, fees, and costs provided for in Section 2.11(g) (as and when accrued or incurred and due and payable), all fees and costs provided for in Section 2.10 (as and when accrued or incurred and due and payable), and all other payments as and when due and payable under any Loan Document or any Bank Product Agreement (including any amounts due and payable to the Bank Product Providers in respect of Bank Products) to the Loan Account, which amounts thereafter shall constitute Advances hereunder and shall accrue interest at the rate then applicable to Advances that are Base Rate Loans. Any interest, fees, costs, expenses, Lender Group Expenses, or other amounts payable hereunder or under any other Loan Document or under any Bank Product Agreement that are charged to the Loan Account shall thereafter constitute Advances hereunder and shall initially accrue interest at the rate then applicable to Advances that are Base Rate Loans (unless and until converted into SOFR Loans in accordance with the terms of this Agreement).

Payment. Except to the extent provided to the contrary in [Section 2.10] or [Section 2.12(a), (i)])] all interest, all Letter of Credit Fees, and all other fees payable hereunder or under any of the other Loan Documents shall be due and payable, in arrears, on the first day of each month, and # all costs and expenses payable hereunder or under any of the other Loan Documents, and all Lender Group Expenses shall be due and payable on the earlier of # the first day of the month following the date on which the applicable costs, expenses, or Lender Group Expenses were first incurred or # the date on which demand therefor is made by Agent (it being acknowledged and agreed that any charging of such costs, expenses or Lender Group Expenses to the Loan Account pursuant to the provisions of the following sentence shall be deemed to constitute a demand for payment thereof for the purposes of this subclause (y)). Borrower hereby authorizes Agent, from time to time without prior notice to Borrower, to charge to the Loan Account # on the first day of each month, all interest accrued during the prior month on the Revolving Loans and all other Obligations hereunder, # on the first day of each month, all Letter of Credit Fees accrued or chargeable hereunder during the prior month, # on the first day of each month, the Unused Line Fee accrued during the prior month pursuant to [Section 2.10(b), (D)])] as and when incurred or accrued, all audit, appraisal, valuation, or other charges or fees payable hereunder pursuant to [Section 2.10(c), (E)])] as and when due and payable, all other fees payable hereunder or under any of the other Loan Documents, # as and when incurred or accrued, all fees, charges, commissions, and costs provided for in [Section 2.11(j), (G)])] as and when incurred or accrued, all fees and costs provided for in [Section 2.10(a) or (c), (H)])])] as and when incurred or accrued, all other Lender Group Expenses, and # as and when due and payable all other payment obligations payable under any Loan Document or any Bank Product Agreement (including any amounts due and payable to the Bank Product Providers in respect of Bank Products). All amounts (including interest, fees, costs, expenses, Lender Group Expenses, or other amounts payable hereunder or under any other Loan Document or under any Bank Product Agreement) charged to the Loan Account shall thereupon constitute Revolving Loans hereunder, shall constitute Obligations hereunder, and shall initially accrue interest at the rate then applicable to Revolving Loans that are Base Rate Loans (unless and until converted into LIBOR Rate Loans in accordance with the terms of this Agreement).

Payment. Except to the extent provided to the contrary in Section 2.10, Section 2.11(k) or Section 2.12(a), (i) all interest, all Letter of Credit Fees and all other fees payable hereunder or under any of the other Loan Documents shall be due and payable, in arrears, on the first day of each month, and # all out-of-pocket audit, field exam, UCC search and other out-of-pocket and non-out-of-pocket costs, expenses and Lender Group Expenses payable hereunder or under any of the other Loan Documents shall be due and payable on the 30th day after the date on which an invoice therefor is delivered by Agent to Borrowers. Borrowers hereby authorize Agent, from time to time without prior notice to Borrowers, to charge to the Loan Account # on the first day of each month, all interest accrued during the prior month on the Revolving Loans hereunder, # on the first day of each month, all Letter of Credit Fees accrued or chargeable hereunder during the prior month, # as and when incurred or accrued, all fees provided for in [Section 2.10(a), (D)] on the first day of each month, the Unused Line Fee accrued during the prior month pursuant to [Section 2.10(b), (E)] if Borrowers do not pay any such Lender Group Expenses within 30 days of the date of Borrowers’ receipt of an invoice therefor, all out-of-pocket audit, field exam, UCC search and other out-of-pocket costs payable hereunder pursuant to [Section 2.10(c), (F)] as and when due and payable, all other fees payable hereunder or under any of the other Loan Documents, # as and when incurred or accrued, the fronting fees and all other commissions, fees, and charges provided for in Section 2.11(k), (H) if Borrowers do not pay any other Lender Group Expenses within 30 days of the date of Borrowers’ receipt of an invoice therefor, all other Lender Group Expenses, and # as and when due and payable in accordance with the terms thereof, all other payment obligations payable under any Loan Document or any Bank Product Agreement (including any amounts due and payable to the Bank Product Providers in respect of Bank Products); provided, that if such amounts are not paid when due and, instead, are charged to the Loan Account, they shall be charged thereto as of the day on which the item was first due and payable or incurred or accrued without regard to the applicable delay and such amounts shall accrue interest from such original date; provided further, that the applicable delays set forth in the [foregoing clauses (E) and (H)])] and clause (ii) of the foregoing sentence shall not be applicable (and Agent shall be entitled to immediately charge to the Loan Account) at any time that an Event of Default has occurred and is continuing. All amounts (including interest, fees, costs, expenses, Lender Group Expenses, or other amounts payable hereunder or under any other Loan Document or under any Bank Product Agreement) charged to the Loan Account shall constitute Revolving Loans hereunder, shall constitute Obligations hereunder, and shall accrue interest at the rate then applicable to Revolving Loans that are LIBOR Rate Loans.

Payment. Except to the extent provided to the contrary in [Section 2.10], [Section 2.11(k)] or [Section 2.12(a), (i)])] all interest and all other fees payable hereunder or under any of the other Loan Documents (other than Letter of Credit Fees) shall be due and payable, in arrears, on the first day of each month, # all Letter of Credit Fees payable hereunder, and all fronting fees and all commissions, other fees, charges and expenses provided for in [Section 2.11(k)] shall be due and payable, in arrears, on the first Business Day of each month, and # all costs and expenses payable hereunder or under any of the other Loan Documents, and all other Lender Group Expenses shall be due and payable on the earlier of # the first day of the month following the date on which the applicable costs, expenses, or Lender Group Expenses were first incurred, or # the date on which demand therefor is made by Agent, in each case, provided that Agent shall endeavor, so long as no Default or Event of Default shall have occurred and be continuing, to provide a reasonably detailed invoice thereof to Borrowers prior to such payment date (it being acknowledged and agreed that any charging of such costs, expenses or Lender Group Expenses to the Loan Account pursuant to the provisions of the following sentence shall be deemed to constitute a demand for payment thereof for the purposes of subclause (y)). Borrowers hereby authorize

Agent, from time to time, to charge to the Loan Account # on the first day of each month, all interest accrued during the prior month on the Revolving Loans hereunder, # on the first Business Day of each month, all Letter of Credit Fees accrued or chargeable hereunder during the prior month, (c) (i) as and when incurred or accrued, all fees and costs provided for in [Section 2.10(c) and (ii)])] when due and payable, all accrued and unpaid fees provided for in [Section 2.10(a), (d)])] on the first day of each month, the Unused Line Fee accrued during the prior month pursuant to [Section 2.10(b), (e)])] as and when due and payable, all other fees payable hereunder or under any of the other Loan Documents, # as and when incurred or accrued, all other Lender Group Expenses, and # as and when due and payable all other payment obligations payable under any Loan Document or any Bank Product Agreement (including any amounts due and payable to the Bank Product Providers in respect of Bank Products); provided that with respect to the items set forth in the [foregoing clauses (e), (f) and (g)])])], Agent shall endeavor, so long as no Default or Event of Default shall have occurred and be continuing, to provide a reasonably detailed invoice thereof to Borrowers before so charging the Loan Account. All amounts (including interest, fees, costs, expenses, Lender Group Expenses, or other amounts payable hereunder or under any other Loan Document or under any Bank Product Agreement) charged to the Loan Account shall thereupon constitute Revolving Loans hereunder, shall constitute Obligations hereunder, and shall initially accrue interest at the rate then applicable to Revolving Loans that are Base Rate Loans (unless and until converted into SOFR Loans in accordance with the terms of this Agreement). Whenever any payment to be made hereunder shall be stated to be due on a day that is not a Business Day, the payment may be made on the next succeeding Business Day.

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