Common use of Place and Form of Payments; Extension of Time Clause in Contracts

Place and Form of Payments; Extension of Time. All payments of principal, interest, premium, and other sums due to the Lender shall be made at the Lender's address set forth in Section 14.11. Except for Proceeds received directly by the Lender, all such payments shall be made in immediately available funds. If any payment of principal, interest, premium, or other sum to be made hereunder becomes due and payable on a day other than a Business Day, the due date of such payment shall be extended to the next succeeding Business Day and interest thereon shall be payable at the applicable interest rate during such extension.

Appears in 2 contracts

Samples: Loan and Security Agreement (Compression Labs Inc), Loan and Security Agreement (Globespan Semiconductor Inc)

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Place and Form of Payments; Extension of Time. All payments of principal, interest, premium, and other sums due to the Lender shall be made at the Lender's address set forth in Section 14.1115.10. Except for Proceeds received directly by the Lender, all such payments shall be made in immediately available funds. If any payment of principal, interest, premium, or other sum to be made hereunder becomes due and payable on a day other than a Business Day, the due date of such payment shall be extended to the next succeeding Business Day and interest thereon shall be payable at the applicable interest rate during such extension.

Appears in 2 contracts

Samples: Loan and Security Agreement (Matria Healthcare Inc), Loan and Security Agreement (Outlook Group Corp)

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Place and Form of Payments; Extension of Time. All payments of principal, interest, premium, and other sums due to the Lender Bank shall be made at the LenderBank's address set forth in Section 14.1114.10. Except for Proceeds received directly by the Lender, all All such payments shall be made in immediately available funds. If any payment of principal, interest, premium, or other sum to be made hereunder becomes due and payable on a day other than a Business Day, the due date of such payment shall be extended to the next succeeding Business Day and interest thereon shall be payable at the applicable interest rate during such extension.

Appears in 2 contracts

Samples: Loan and Security Agreement (Outlook Group Corp), Loan and Security Agreement (Outlook Group Corp)

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