Maturity Date Payments. The Company shall pay to the Bank the principal balance of outstanding Loans together with any accrued interest ON DEMAND (but if no demand, no later than one year from the date hereof). Payments received by the Bank shall be applied first to accrued interest and then to the principal balance of outstanding Loans unless otherwise directed. If any payment from the Company under this Agreement becomes due on a Saturday, Sunday, or a day which is a legal holiday for banks in the State of Illinois, such payment shall be made on the next bank business day and any such extension shall be included in computing interest under this Agreement.
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Samples: Loan Authorization Agreement (San Holdings Inc), Loan Authorization Agreement (San Holdings Inc)
Maturity Date Payments. The Company shall pay to the Bank the principal balance of outstanding Loans together with any accrued interest ON DEMAND (but if no demand, no later than one year from the date hereof)DEMAND. Payments received by the Bank shall be applied first to accrued interest and then to the principal balance of outstanding Loans unless otherwise directed. If any payment from the Company under this Agreement becomes due on a Saturday, Sunday, or a day which is a legal holiday for banks in the State of Illinois, such payment shall be made on the next bank business day and any such extension shall be included in computing interest under this Agreement.
Appears in 1 contract
Maturity Date Payments. The Company shall pay to the Bank the principal balance of outstanding Loans together with any accrued interest ON DEMAND (but if no demand, no later than one year from the date hereofHEREOF). Payments received by the Bank shall be applied first to accrued interest and then to the principal balance of outstanding Loans unless otherwise directed. If any payment from the Company under this Agreement becomes due on a Saturday, Sunday, or a day which is a legal holiday for banks in the State of Illinois, such payment shall be made on the next bank business day and any such extension shall be included in computing interest under this Agreement.
Appears in 1 contract
Samples: Loan Authorization Agreement (Crafts Retail Acquisition Corp.)
