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 and other sums due to the Collateral Agent or the Lenders shall be made at the Collateral Agent's address set forth in or specified pursuant to Section 14.7. Except for proceeds received directly by the Collateral Agent, all such payments shall be made in immediately available funds. If any payment of principal, interest or any 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 (if any) shall be payable at the applicable Interest Rate during such extension.

Appears in 1 contract

Samples: Loan and Security Agreement (Imation Corp)

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Place and Form of Payments; Extension of Time. All payments of principal, interest interest, premium, and other sums due to the Collateral Agent or the Lenders shall be made at the Collateral Agent's address set forth in or specified pursuant to Section 14.7. Except for proceeds received directly by the Collateral Agent, all such payments shall be made in immediately available funds. If any payment of principal, interest interest, premium, or any 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 (if any) shall be payable at the applicable Interest Rate during such extension.

Appears in 1 contract

Samples: Loan and Security Agreement (Laclede Steel Co /De/)

Place and Form of Payments; Extension of Time. All payments of principal, interest interest, reimbursement obligations in connection with Letters of Credit, fees, premium and other sums due to the Collateral Agent or the Lenders shall be made at the Collateral Agent's address set forth in or specified pursuant to Section 14.7. Except for proceeds received directly by the Collateral Agent, all such payments shall be made in immediately available funds. If any payment of principal, interest interest, reimbursement obligations in connection with Letters of Credit, fees, premium, or any other sum sums 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 (if any) shall be payable at the applicable Interest Rate during such extension.

Appears in 1 contract

Samples: Loan and Security Agreement (Laclede Steel Co /De/)

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Place and Form of Payments; Extension of Time. All payments of --------------------------------------------- principal, interest interest, premium and other sums due to the Collateral Agent or the and/or Lenders shall be made at the Collateral Agent's address set forth in or specified pursuant to Section 14.716.21. Except for proceeds Proceeds received directly by the Collateral Agent, all such payments shall be made in immediately available funds. If any payment of principal, interest interest, premium or any 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 (if any) shall be payable at the applicable Interest Rate interest rate during such extension.

Appears in 1 contract

Samples: Loan Agreement (Intertan Inc)

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