Interest and Other Payments Due on Holidays. If any payment due on, or with respect to, this Agreement, any Note or any other Security Document or Loan Document shall fall due on a day other than a Business Day, then such payment shall be made on the 1st Business Day following the day on which such payment shall have so fallen due; provided that if all or any portion of such payment shall consist of a payment of interest, for purposes of calculating such interest, such payment shall be deemed to have been originally due on such first following Business Day, and such interest shall accrue and be payable to (but not including, subject to clause (d) below) the actual date of payment.
Appears in 3 contracts
Samples: Inventory Loan and Security Agreement (Silverleaf Resorts Inc), Inventory Loan and Security Agreement (Silverleaf Resorts Inc), Inventory Loan and Security Agreement (Silverleaf Resorts Inc)
Interest and Other Payments Due on Holidays. If any payment due on, or with respect to, this Agreement, any Note the Notes or any other Security Document or Loan Document shall fall due on a day other than a Business Day, then such payment shall be made on the 1st Business Day following the day on which such payment shall have so fallen due; provided that if all or any portion of such payment shall consist of a payment of interest, for purposes of calculating such interest, such payment shall be deemed to have been originally due on such first following Business Day, and such interest shall accrue and be payable to (but not including, subject to clause (de) below) the actual date of payment.
Appears in 2 contracts
Samples: Loan and Security Agreement (Asc Holdings Inc), Loan and Security Agreement (American Skiing Co /Me)
Interest and Other Payments Due on Holidays. If any payment due on, or with respect to, this Agreement, any Note the Notes or any other Security Document or Loan Document shall fall due on a day other than a Business Day, then such payment shall be made on the 1st Business Day following the day on which such payment shall have so fallen due; provided that if all or any portion of such payment shall consist of a payment of interest, for purposes of calculating such interest, such payment shall be deemed to have been originally due on such first following Business Day, and such interest shall accrue and be payable to (but not including, subject to clause (dh) below) the actual date of payment.
Appears in 1 contract
Samples: Loan and Security Agreement (Secure America Acquisition CORP)
Interest and Other Payments Due on Holidays. If any payment due on, or with respect to, this Agreement, any the Note or any other Security Document or Loan Document shall fall due on a day other than a Business Day, then such payment shall be made on the 1st Business Day following the day on which such payment shall have so fallen due; provided that if all or any portion of such payment shall consist of a payment of interest, for purposes of calculating such interest, such payment shall be deemed to have been originally due on such first following Business Day, and such interest shall accrue and be payable to (but not including, subject to clause (d) below) the actual date of payment.
Appears in 1 contract
Samples: General Loan and Security Agreement (Mego Financial Corp)
