Common use of Computing Time Periods Clause in Contracts

Computing Time Periods. All time periods provided for in this Agreement shall be based on calendar days; provided that if any such time period ends on a day other than a business day, the time period shall be extended to the next business day, or if any payment becomes due on a day that in not a business day, such payment may be made on the next succeeding business day. For purposes of this Agreement, the term "business day" means any day excluding Saturday, Sunday and any other full day on which banks are required or authorized to close in the State of Texas.