Payment on Banking Day. If interest would, under Section 6.3, be payable on a day which is not Banking Day, it shall then be payable on the next following Banking Day unless such next following Banking Day falls in the following calendar month, in which case interest shall be payable on the immediately preceding Banking Day.
Appears in 3 contracts
Samples: Credit Agreement (Chiles Offshore LLC), Credit Agreement (Chiles Magellan LLC), Credit Agreement (Chiles Offshore Inc/New/)
Payment on Banking Day. If interest would, under Section 6.36.6, be payable on a day which is not a Banking Day, it shall then be payable on the next following Banking Day unless such next following Banking Day falls in the following calendar month, in which case interest shall be payable on the immediately preceding Banking Day.Banking
Appears in 2 contracts
Samples: Term Loan and Revolving Credit Facility Agreement (Marine Transport Corp), Term Loan and Revolving Credit Facility Agreement (Marine Transport Corp)
Payment on Banking Day. If interest would, under Section 6.36.6, be payable on a day which is not a Banking Day, it shall then be payable on the next following Banking Day Day, unless such next following Banking Day falls in the following calendar month, month in which case interest it shall be payable on the Banking Day immediately preceding Banking Daythe day on which such interest would otherwise be payable.
Appears in 2 contracts
Samples: Term Loan and Revolving Credit Facility Agreement (Marine Transport Corp), Term Loan and Revolving Credit Facility Agreement (Marine Transport Corp)
