Common use of Payments Due on Business Days Clause in Contracts

Payments Due on Business Days. If any installment of interest or any other amount payable under any Loan Document becomes due and payable on a day other than a Business Day, the payment date for such payment shall be extended to the next succeeding Business Day and, with respect to payments of principal or other payments that bear interest (other than interest first due on such date), interest thereon shall be payable at the then applicable rate during such extension; provided, however, if any installment of interest at the Fixed Rate shall become due and payable on a Saturday, the payment date for such payment shall be the preceding Business Day.

Payments Due on Business Days. If any installment of interest or any other amount payable under any Loan Other Document becomes due and payable on a day other than a Business Day, the payment date for such payment shall be extended to the next succeeding Business Day and, with respect to payments of principal or other payments that bear interest (other than interest first due on such date), interest thereon shall be payable at the then applicable rate during such extension; provided, however, if any installment of interest at the Fixed Rate shall become due and payable on a Saturday, the payment date for such payment shall be the preceding Business Day.

Payments Due on Business Days. If any installment of interest or any other amount payable under any Loan Document becomes due and payable on a day other than a Business Day, the payment date for such payment shall be extended to the next succeeding Business Day and, with respect to payments of principal or other payments that bear interest (other than interest first due on such date), interest thereon shall be payable at the then applicable rate during such extension; provided, however, if any installment of interest at the Fixed Rate shall become due and payable on a Saturday, the payment date for such payment shall be the preceding Business Day.

Payments Due on Business Days. If any installment of interest or any other amount payable under any Loan Document becomes due and payable on a day other than a Business Day, the payment date for such payment shall be extended to the next succeeding Business Day and, with respect to payments of principal or other payments that bear interest (other than interest first due on such date), interest thereon shall be payable at the then applicable rate during such extension; provided, however, if any installment of interest at the a Fixed Rate shall become due and payable on a Saturday, the payment date for such payment shall be the preceding Business Day.