Common use of Payment on Non-Business Day; Payment Computations Clause in Contracts

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever any installment of principal of, or interest on, any Loan or any other amount due hereunder becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 14 contracts

Samples: Credit Agreement (Standard Parking Corp), Credit Agreement (National Wine & Spirits Inc), Loan Agreement (Airnet Systems Inc)

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Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever any installment of principal of, or interest on, any Loan Advances outstanding hereunder or any other amount due hereunder hereunder, becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 10 contracts

Samples: Credit Agreement (Comstock Resources Inc), Credit Agreement (Comstock Resources Inc), Credit Agreement (Comstock Resources Inc)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever any installment of principal of, or interest on, any Loan or any other amount due hereunder becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days (or 365 or 366 days, as the case may be, when determining the Floating Rate) for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 6 contracts

Samples: Credit Agreement (Learning Care Group, Inc), Guaranty Agreement (Invacare Corp), Credit Agreement (Childtime Learning Centers Inc)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever any installment of principal of, or interest on, any Loan outstanding hereunder or any other amount due hereunder hereunder, becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 5 contracts

Samples: Revolving Credit Agreement (Barry R G Corp /Oh/), Revolving Credit Agreement (Barry R G Corp /Oh/), Credit Agreement (Petroleum Development Corp)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contraryAgreement, whenever any installment of principal of, or interest on, any Loan Advance or any other amount due hereunder Obligation becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum Applicable Rate (or Default Rate if applicable), determined in accordance with this Agreement during such extension. Computations of interest interest, fees and other amounts due under this Agreement shall be made on the basis of a year of 360 days days, for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 2 contracts

Samples: Term Revolving Credit Agreement (Ag-Chem Equipment Co Inc), Credit Agreement (Ag-Chem Equipment Co Inc)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever any installment of principal of, or interest on, any on the Term Loan or any other amount due hereunder becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extensionDay. Computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 2 contracts

Samples: Credit Agreement (Interpublic Group of Companies Inc), Credit Agreement (Interpublic Group of Companies Inc)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever any installment of principal of, or interest on, any Loan or any other amount due hereunder becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days for the actual number of days elapsed, including the first day but excluding the last day of the relevant period, provided that the computation of interest at the Floating Rate shall be made on the basis of a year of 365 days for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 2 contracts

Samples: Credit Agreement (MSX International Business Services Inc), Credit Agreement (MSX International Inc)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever any installment of or principal of, or interest on, any the Term Loan or any other amount due hereunder becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations Computation of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 1 contract

Samples: Term Loan Agreement (Airnet Systems Inc)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever any installment of principal of, or interest on, any Loan or any other amount due hereunder becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations of interest and other amounts due under this Agreement on Floating Rate Loans shall be made on the basis of a year of 360 days 365 or 366 days, for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 1 contract

Samples: Credit Agreement (Asset Acceptance Capital Corp)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever any installment of principal of, or interest on, any Loan or any other amount due hereunder becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 1 contract

Samples: Credit Agreement (Standard Parking Ii LLC)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever any installment of principal of, or interest on, any Loan or any other amount due hereunder becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations Except as otherwise provided in this Agreement to the contrary, computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 1 contract

Samples: Bridge Credit Agreement (Invacare Corp)

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Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to (including the contrarydefinition of Advance Period), whenever any installment of principal of, or interest on, any Loan Advance or any other amount due hereunder Obligation becomes due and payable on a day which that is not a Business Day, the maturity thereof shall will be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall will be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations of interest and other amounts due under this Agreement shall will be made on the basis of a year of 360 days days, for the actual number of days elapsed, including the first day day, but excluding the last day of the relevant period.

Appears in 1 contract

Samples: Revolving Credit and Loan Agreement (Universal Standard Medical Laboratories Inc)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever any installment of principal of, or interest on, any Loan or any other amount due hereunder becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days for 365 or 366 days, as the actual number of days elapsed, including the first day but excluding the last day of the relevant periodcase may be.

Appears in 1 contract

Samples: Credit and Security Agreement (Eastside Distilling, Inc.)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever any installment of principal of, or interest on, any Loan Advance outstanding hereunder or any other amount due hereunder hereunder, becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 1 contract

Samples: Credit Agreement (CMS Nomeco Oil & Gas Co)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever any installment of principal of, or interest on, any Loan outstanding hereunder or any other amount due hereunder becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 1 contract

Samples: Credit Agreement (Wolverine World Wide Inc /De/)

Payment on Non-Business Day; Payment Computations. Except as ------------------------------------------------- otherwise provided in this Agreement to the contrary, whenever any installment of principal of, or interest on, any Loan outstanding hereunder or any other amount due hereunder hereunder, becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 1 contract

Samples: Execution Copy Credit Agreement (Petroleum Development Corp)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contraryAgreement, whenever any installment of principal of, or interest on, any Loan or any other amount due hereunder Obligation becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement then Applicable Rate during such extension. Computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days days, for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 1 contract

Samples: Credit and Loan Agreement (Secom General Corp)

Payment on Non-Business Day; Payment Computations. Except as otherwise provided in this Agreement to the contrary, whenever Whenever any installment of principal of, or interest on, any Loan the Outstanding Facilities, or any other amount due hereunder becomes due and payable on a day which is not a Business Day, the maturity thereof shall be extended to the next succeeding Business Day and, in the case of any installment of principal, interest shall be payable thereon at the rate per annum determined in accordance with this Agreement during such extension. Computations of interest and other amounts due under this Agreement shall be made on the basis of a year of 360 days for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 1 contract

Samples: Credit Agreement (Hurco Companies Inc)

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