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 (or 365 or 366 days, as the case may be, when determining the Floating Rate or rates or fees with respect to Acceptances) for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 3 contracts

Samples: Credit Agreement (BMG North America LTD), Security Agreement (BMG North America LTD), Credit Agreement (BMG North America LTD)

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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 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 (or days, 365 or 366 days, as determined by the case may beAgent to be the custom and practice in the relevant market, when determining the Floating Rate or rates or fees with respect to Acceptances) for the actual number of days elapsed, including the first day but excluding the last day of the relevant period.

Appears in 3 contracts

Samples: Credit Agreement (Invacare Corp), Credit Agreement (Invacare Corp), Credit Agreement (Invacare 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 (or days, 365 or 366 days, as determined by the case may beAgent to be the custom and practice in the relevant market, when determining the Floating Rate or rates or fees with respect to Acceptances) 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: Assumption Agreement (Invacare Corp), Loan Agreement (Invacare 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 interest, commitment fees 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 or rates or fees with respect to AcceptancesRate) 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: Security Agreement (Sos Staffing Services 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 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, days as the case may be, when determining the Floating Rate or rates or fees with respect to AcceptancesRate) 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: Guaranty Agreement (Amcast Industrial 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 (including but not limited to commitment fees) shall be made on the basis of a year of 360 days (or 365 or 366 days, as the case may be, be (or 360 days when determining the Floating Rate or rates or fees with respect to Acceptances) Eurodollar Rate), 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: Loan Agreement (Vsi Holdings Inc)

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