Common use of Extension of Payment Dates Clause in Contracts

Extension of Payment Dates. Unless otherwise provided herein, whenever any payment to the Administrative Agent or the Lenders under this Agreement or any Note shall be due (other than by reason of acceleration) on a day that is not a Business Day, the date of payment thereof shall be extended to the next succeeding Business Day.

Appears in 3 contracts

Samples: Loan Agreement (Ecopetrol S.A.), Loan Agreement (Ecopetrol S.A.), Loan Agreement (Ecopetrol S.A.)

AutoNDA by SimpleDocs

Extension of Payment Dates. Unless otherwise provided herein, whenever Whenever any payment to the Administrative Agent or Agent, the Lenders under this Agreement Issuing Bank or any Note shall Bank under the Loan Documents would otherwise be due (other than by reason of acceleration) on a day that is not a Business Day, the date of such payment thereof shall instead be extended to due on the next succeeding Business Day. If the date any payment under the Loan Documents is due is extended (whether by operation of any Loan Document, Applicable Law or otherwise), such payment shall bear interest for such extended time at the rate of interest applicable hereunder.

Appears in 2 contracts

Samples: Day Credit Agreement (Xcel Energy Inc), Credit Agreement (Xcel Energy Inc)

Extension of Payment Dates. Unless otherwise provided herein, whenever any If a payment to the Administrative Agent or the Lenders under this Agreement or any Note be made hereunder shall be fall due (other than by reason of acceleration) on a day that is not a Business Day, the date of for payment thereof shall be extended to the next succeeding Business DayDay without additional interest thereon.

Appears in 2 contracts

Samples: Commercial Loan Agreement (Beneficient Co Group, L.P.), Commercial Loan Agreement (GWG Holdings, Inc.)

Extension of Payment Dates. Unless otherwise provided herein, whenever any payment to the Administrative Agent or the Lenders Bank under this Agreement or any Note shall be due (other otherwise than by reason of acceleration) on a day that is not a Business Day, the date of payment thereof shall be extended to the next succeeding Business Day. If the date for any payment under this Agreement is extended, such payment shall bear interest for such extended time at the rate of interest applicable hereunder.

Appears in 2 contracts

Samples: Credit Agreement (New Jersey Resources Corp), Credit Agreement (Talbots Inc)

AutoNDA by SimpleDocs

Extension of Payment Dates. Unless otherwise provided herein, whenever any payment to the Administrative Agent or the Lenders under this Agreement or any Note shall be due (other than by reason of acceleration) on a day that is not a Business Day, the date of payment thereof shall be extended to the next succeeding Business Day.. ​

Appears in 1 contract

Samples: Loan Agreement (Ecopetrol S.A.)

Extension of Payment Dates. Unless otherwise provided herein, whenever any payment pay- ment to the Administrative Agent or the Lenders under this Agreement or any Note shall be due (other otherwise than by reason of acceleration) on a day that is not a Business Day, the date of payment thereof shall be extended to the next succeeding Business Day; provided, however, that with re- spect to the payment of principal of, and interest on, the Loans on the Maturity Date, if such date is not a Business Day, the date of payment thereof shall be made on the next preceding Business Day.

Appears in 1 contract

Samples: Credit Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!