Adjustment of due. DATES If any payment to be made under any of the Security Documents, other than a payment of interest on the Facility, shall be due on a day which is not a Business Day, that payment shall be made on the next succeeding Business Day (unless the next succeeding Business Day falls in the next calendar month in which event the payment shall be made on the next preceding Business Day). Any such variation of time shall be taken into account in computing any interest in respect of that payment.
Appears in 4 contracts
Samples: Loan Facility Agreement, Loan Facility Agreement (Teekay Offshore Partners L.P.), Loan Facility Agreement (Stolt Comex Seaway S A)
Adjustment of due. DATES If any payment or transfer of funds to be made under any of the Security Documentsa Finance Document, other than a payment of interest on the Facilitya Drawing, shall be due on a day which is not a Business Day, that payment shall be made on the next succeeding Business Day (unless the next succeeding Business Day falls in the next calendar month in which event the payment shall be made on the next preceding Business Day). Any such variation of time shall be taken into account in computing any interest in respect of that payment.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Teekay Offshore Partners L.P.)
Adjustment of due. DATES If any payment or transfer of funds to be made under any of the Security Documents, other than a payment of interest on the FacilityLoan or a payment pursuant to the Master Agreements, shall be due on a day which is not a Business Day, that payment shall be made on the next succeeding Business Day (unless the next succeeding Business Day falls in the next calendar month in which event the payment shall be made on the next preceding Business Day). Any such variation of time shall be taken into account in computing any interest in respect of that payment.
Appears in 1 contract
