Extension of Payment Date. Except as otherwise specifically provided in Article 2 hereof, should any payment or prepayment of principal of or interest on the Notes or any other amount due hereunder, become due and payable on a day other than a Business Day, the due date of such payment or prepayment shall be extended to the next succeeding Business Day and, in the case of a payment or prepayment of principal, interest shall be payable thereon at the rate herein specified during such extension.
Extension of Payment Date. Notwithstanding anything in Section 1.7(c) hereof to the contrary, in the event that Executive's employment with the Company is terminated and such termination arises from the death, disability or retirement of the Executive or is without Cause, then, at the option of the Executive and upon delivery of written notice to that effect, the obligation to repay the Loan in full, together with accrued interest thereon, may be extended to the second anniversary date of such termination or retirement or the Maturity Date, whichever is longer. For purposes of this Section, the term "Cause" shall have the meaning assigned to it in that certain Employment Agreement dated of even date herewith among the Executive, the Company and New Jersey State Medical Underwriters, Inc.
Extension of Payment Date. If this Note becomes due and payable on a Saturday, Sunday or other day on which banks in the State of New York are authorized to remain closed, the due date hereof shall be extended to the next succeeding full Business Day. “Business DayÓ shall mean a day other than a Saturday, Sunday or other day on which banks in the State of New York are authorized by law to remain closed. All payments received by the Holder shall be applied first to the payment of all accrued interest payable hereunder.
Extension of Payment Date. The Contracts are hereby amended to extend the due date for the First Payment from December 31, 2006 to June 30, 2007.
Extension of Payment Date. The date for payment of all amounts due under the Note (including, without limitation, the Present Indebtedness and all interest and the Additional Amount which accrue during the Extended Period) shall be, and is hereby, extended from March 30, 2001 to December 31, 2001 (the "Extended Period").
Extension of Payment Date. In accordance with Section 7(f) thereof, Section 1(a) of the Note is hereby amended to replace “December 31, 2007” with “March 31, 2008” as the Payment Date thereunder.
Extension of Payment Date. The Payment Date under the Note is hereby extended until January 5, 2000.
Extension of Payment Date. Should any payment of principal of or interest on the Notes or any other amount due hereunder become due and payable on a day other than a Business Day, the due date of such payment thereof shall be extended to the next succeeding Business Day - 133 - and, in the case of principal, interest shall be payable thereon at the rate herein specified during such extension.
Extension of Payment Date. The Lender may, in its sole discretion, at the request of the Borrower, extend the Payment Date for one successive period of 364 days or such shorter or longer period as the Borrower may request. If the Borrower wishes to extend the Payment Date it shall so notify the Lender not more than 90 days and not less than 60 days prior to the then current Payment Date and shall in conjunction with that notice deliver to the Lender Sufficient Copies of a Financial Forecast for the Borrower for the ensuing year, in form and content satisfactory to the Lender, and the Lender shall, within 30 days of receipt of such extension notice, advise the Borrower of its determination in response to any such request. If the Lender determines that it will extend the Payment Date in accordance with the Borrower’s request the current Payment Date shall be extended to that date agreed to by the Lender. The interest rates and fees provided for in the Agreement are subject to confirmation in the case of an extension pursuant to this Section.
Extension of Payment Date. Notwithstanding anything in Section 1.7(c) hereof to the contrary, in the event that Executive's employment with the Company is terminated and such termination arises from the death, disability or retirement of the Executive or is without Cause, then, at the option of the Executive and upon delivery of written notice to that effect, the obligation to repay the Loan in full, together with accrued interest thereon, may be extended to the second anniversary date of such termination or retirement or the Maturity Date, whichever is longer. For purposes of this Section, the term "Cause" shall mean the willful engaging by the Executive in misconduct which is materially injurious to the Company, monetarily or otherwise; or the willful failure by the Executive to perform such services as may be delegated or assigned by the Chief Executive Officer of the Company; or the Executive's conviction of, or a plea of nolo contendre to, a felony or a crime involving moral turpitude; or the repeated and consistent failure of Executive to devote his full-time best efforts to the performance of his duties (other than any such failure resulting from the Executive's incapacity due to physical or mental illness).
