Common use of General Provisions as to Payments and Loans Clause in Contracts

General Provisions as to Payments and Loans. (a) All payments of principal and interest on the Loans and of fees hereunder shall be made by 12:00 noon (Dallas, Texas time) on the date such payments are due in federal or other funds immediately available at the principal office of the Lender referred to in Section 9.6, and, if not made by such time or in immediately available funds, then such payment shall be deemed made when such funds are available to the Lender for its full and unrestricted use. Whenever any payment of principal of or interest on the Loans or of fees hereunder shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next succeeding Business Day. If the date for any payment is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Appears in 2 contracts

Samples: Credit Agreement (Toreador Royalty Corp), Credit Agreement (Trek Resources Inc)

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General Provisions as to Payments and Loans. (a) All payments of principal and interest on the Loans and of fees hereunder shall be made by 12:00 noon (Dallas, Texas time) on the date such payments are due in federal or other funds immediately available at the principal office of the Lender referred to in Section SECTION 9.6, and, if not made by such time or in immediately available funds, then such payment shall be deemed made when such funds are available to the Lender for its full and unrestricted use. Whenever any payment of principal of or interest on the Loans or of fees hereunder shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next succeeding Business Day. If the date for any payment is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Appears in 1 contract

Samples: Credit Agreement (Gladstone Resources Inc)

General Provisions as to Payments and Loans. (a) 3.1.1 All payments of principal and interest on the Loans and of fees hereunder shall be made by 12:00 noon (Dallas, Texas time) on the date such payments are due in federal or other funds immediately available at the principal office of the Lender referred to in Section 9.6, M and, if not made by such time or in immediately available funds, then such payment shall be deemed made when such funds are available to the Lender for its full and unrestricted use. Whenever any payment of principal of or interest on the Loans or of fees hereunder shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next succeeding Business Day. If the date for any payment is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.. 18

Appears in 1 contract

Samples: Credit Agreement (Gulfwest Energy Inc)

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General Provisions as to Payments and Loans. (a) 3.1.1. All payments of principal and interest on the Loans Note and of fees hereunder shall be made by 12:00 noon 2:00 p.m. (Dallas, Texas time) on the date such payments are due in federal or other funds immediately available at the principal office of the Lender referred to in Section 9.6, 9.6 and, if not made by such time or in immediately available funds, then such payment shall be deemed made when such funds are available to the Lender for its full and unrestricted use. Whenever any payment of principal of or interest on the Loans Note or of fees hereunder shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next succeeding Business Day. If the date for any payment is extended by operation of law or otherwise, interest thereon shall be payable for such extended time.

Appears in 1 contract

Samples: Credit Agreement (Toreador Resources Corp)

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