Clause Information
Method of Payment. All payments under this Loan shall be made to the Lender on the date when due in U.S. dollars in immediately available funds, based on payment instructions given to the Borrower by the Lender prior to the relevant payment date. If a payment is due on a day which is not a Business Day, then the due date for such payment shall be extended to the immediately succeeding Business Day. In this Loan Agreement, a " Business Day " means a day on which banks are lawfully open for business in the State of New York, the Province of Nova Scotia, Hong Kong and Mongolia. The Borrower hereby waives diligence, presentment, demand, protest and notice of any kind whatsoever. Any interest, commission or fee accruing under this Loan Agreement will accrue from day to day and is calculated on the basis of the actual number of days elapsed and a year of 360 days.
| Clause Category: | Method of Payment |
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