Payment on non-Business Day. If any payment by the Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day: (a) the due date shall be extended to the next succeeding Business Day; or (b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 62 contracts
Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (Toro Corp.), Loan Agreement (Castor Maritime Inc.)
Payment on non-Business Day. If any payment by the any Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 35 contracts
Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.)
Payment on non-Business Day. If any payment by the Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 35 contracts
Samples: Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.), Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.), Loan Agreement (Pyxis Tankers Inc.)
Payment on non-Business Day. If any payment by the Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, Day and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 20 contracts
Samples: Loan Agreement (Paragon Shipping Inc.), Amending and Restating Agreement (Paragon Shipping Inc.), Loan Agreement (Star Bulk Carriers Corp.)
Payment on non-Business Day. If any payment by the Borrower a Security Party under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 18 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
Payment on non-Business Day. If any payment by the either Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 16 contracts
Samples: Loan Agreement (Castor Maritime Inc.), Loan Agreement (Castor Maritime Inc.), Loan Agreement (Navios Maritime Holdings Inc.)
Payment on non-Business Day. If any payment by the Borrower under a Finance Document this Agreement would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 14 contracts
Samples: Loan Agreement (Cool Co Ltd.), Loan Agreement (Cool Co Ltd.), Purchase, Sale and Contribution Agreement
Payment on non-Business Day. If any payment by the any Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 10 contracts
Samples: Loan Agreement (Euronav NV), Loan Agreement (B Plus H Ocean Carriers LTD), Loan Agreement (B Plus H Ocean Carriers LTD)
Payment on non-Business Day. If any payment by the Borrower Borrowers under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 9 contracts
Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (EuroDry Ltd.), Loan Agreement (Euroseas Ltd.)
Payment on non-Business Day. If any payment by the a Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 5 contracts
Samples: Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Capital Product Partners L.P.), Loan Agreement (Paragon Shipping Inc.)
Payment on non-Business Day. If any payment by the Borrower Obligors under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 4 contracts
Samples: Senior Secured Credit Facility Agreement (Pacific Drilling S.A.), Guarantee Facility Agreement (TBS International PLC), Guarantee Facility Agreement (TBS International LTD)
Payment on non-Business Day. If any payment by the Borrower Borrowers under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 4 contracts
Samples: Loan Agreement (Pyxis Tankers Inc.), Amending and Restating Agreement (TBS International PLC), Loan Agreement (Mc Shipping Inc)
Payment on non-Business Day. If any payment by the Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward and to the immediately preceding preceeding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 3 contracts
Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (EuroDry Ltd.), Loan Agreement (Euroseas Ltd.)
Payment on non-Business Day. If any payment by the a Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 3 contracts
Samples: Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios Maritime Holdings Inc.)
Payment on non-Business Day. If any payment by the any Borrower under a Finance Document (other than under the Master Agreement) would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 2 contracts
Samples: Loan Agreement (Costamare Partners LP), Loan Agreement (Costamare Partners LP)
Payment on non-Business Day. If any payment by the a Borrower under the Finance Documents to which it is a Finance Document party would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 2 contracts
Samples: Loan Agreement (TBS International LTD), Loan Agreement (TBS International LTD)
Payment on non-Business Day. If any payment by the Borrower or a Security Party under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 2 contracts
Samples: Facility Agreement (Navios Maritime Containers Inc.), Loan Agreement (Knightsbridge Tankers LTD)
Payment on non-Business Day. If any payment by the Borrower or a Security Party under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ;
(c) and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 2 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Payment on non-Business Day. If any payment by the Borrower or any Owner under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 2 contracts
Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Acquisition Corp)
Payment on non-Business Day. If any payment by the Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph ((a)) at the rate payable on the original due date.
Appears in 2 contracts
Samples: Loan Agreement (Box Ships Inc.), Loan Agreement (TBS International LTD)
Payment on non-Business Day. If any payment by the Borrower any Security Party under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 2 contracts
Samples: Credit Agreement (Scorpio Bulkers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Payment on non-Business Day. If any payment by the Borrower a Security Party under a Finance Document (other than under a Master Agreement) would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 2 contracts
Samples: Loan Agreement (Dorian LPG Ltd.), Loan Agreement (Dorian LPG Ltd.)
Payment on non-Business Day. If any payment by the Borrower under this Agreement or a Finance Security Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 2 contracts
Samples: Loan Agreement (Aegean Marine Petroleum Network Inc.), Amendment Agreement (Aegean Marine Petroleum Network Inc.)
Payment on non-Business Day. If any payment by the a Borrower or a Security Party under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ;
(c) and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Samples: Term Loan Facility Agreement (Navios Maritime Partners L.P.)
Payment on non-Business Day. If any payment by the Borrower under a Finance Document this Agreement would otherwise fall due on a day which is not a Business Day:a
(a) the due date shall be extended to the next succeeding Business Day; or
or (b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.preceding
Appears in 1 contract
Payment on non-Business Day. If any payment by the Borrower any Obligor under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Samples: Loan Agreement (Oceanfreight Inc.)
Payment on non-Business Day. If any payment by the any Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar monthMonth, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Samples: Loan Agreement (Diana Shipping Inc.)
Payment on non-Business Day. If any payment by the Borrower under a Finance Document (other than under the Master Agreement) would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Samples: Loan Agreement (Poseidon Containers Holdings Corp.)
Payment on non-Business Day. If any payment by the Borrower Obligors under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Payment on non-Business Day. If any payment by the either Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Payment on non-Business Day. If any payment by the either Borrower or a Security Party under a Finance Document (other than under a Master Agreement) would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Payment on non-Business Day. If any payment by the any Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph ((a)) at the rate payable on the original due date.
Appears in 1 contract
Samples: Loan Agreement (EuroDry Ltd.)
Payment on non-Business Day. If any payment by the either Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls Day.falls in the next calendar month, the due date shall be brought forward to the immediately 'preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Payment on non-Business Day. If any payment by the a Borrower or a Security Party under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Samples: Supplemental Agreement (Navios Maritime Containers Inc.)
Payment on non-Business Day. If any payment by the Borrower Borrowers under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, Day and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Samples: Loan Agreement (Alma Maritime LTD)
Payment on non-Business Day. If any payment by the any Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; oror 632 EUROPE/66436786v5
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Samples: Loan Agreement (Diana Shipping Inc.)
Payment on non-Business Day. If any payment by the Borrower Borrowers under a Finance Document would otherwise fall fail due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Payment on non-Business Day. If any payment by the Borrower Borrowers (or any of them) under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Samples: Loan Agreement (Diana Shipping Inc.)
Payment on non-Business Day. If any payment by the any Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) a. the due date shall be extended to the next succeeding Business Day; or
(b) b. if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Payment on non-Business Day. If any payment by the Borrower an Obligor under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, ; and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Payment on non-Business Day. If In the event that any payment by date hereunder or under the Borrower under a Finance Document would otherwise fall due on a day which is Notes shall not be a Business Day:
(a) the due date , payment shall be extended to made on the next succeeding Business Day; or
(b) if the . If such payment is made on such next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and no interest shall be payable accrue on the amount of such payment during any extension under paragraph (a) at the rate such extension, but interest payable on the original due next interest payment date shall accrue from the originally scheduled payment date.
Appears in 1 contract
Samples: Note Agreement (Quad/Graphics, Inc.)
Payment on non-Business Day. If any payment by the any Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, Day and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
Samples: Loan Agreement (Omega Navigation Enterprises, Inc.)
Payment on non-Business Day. If any payment by the Borrower or a Security Party under a Finance Document (other than under the Master Agreement) would otherwise fall due on a day which is not a Business Day:
(a) the due date shall be extended to the next succeeding Business Day; or
(b) if the next succeeding Business Day falls in the next calendar month, the due date shall be brought forward to the immediately preceding Business Day, and interest shall be payable during any extension under paragraph (a) at the rate payable on the original due date.
Appears in 1 contract
