Interest Basis. Interest shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid. If any payment of principal of or interest on a Loan shall become due on a day that is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 4 contracts
Samples: Credit Agreement (BGC Partners, Inc.), Credit Agreement (BGC Partners, Inc.), Credit Agreement (Newmark Group, Inc.)
Interest Basis. Interest shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paidpaid if payment is received prior to noon, New York time, at the place of payment. If any payment of principal of or interest on a Loan shall become due on a day that is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Newmark Group, Inc.), Revolving Credit Agreement (BGC Partners, Inc.), Revolving Credit Agreement (Newmark Group, Inc.)
Interest Basis. Interest shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a the Loan is made but not for the day of any payment on the amount paidpaid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on a the Loan shall become due on a day that which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Samples: Loan and Security Agreement (Unisphere Networks Inc), Loan and Security Agreement (Unisphere Networks Inc)
Interest Basis. Interest shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a the Loan is made but not for the day of any payment on the amount paidpaid if payment is received prior to noon, New York time, at the place of payment. If any payment of principal of or interest on a the Loan shall become due on a day that is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 2 contracts
Samples: Revolving Credit Agreement (BGC Partners, Inc.), Revolving Credit Agreement (BGC Partners, Inc.)
Interest Basis. Interest shall be calculated for actual days -------------- elapsed on the basis of a 360-day year. Interest shall be payable for the day a any Revolving Credit Loan is made but not for the day of any payment on the amount paidpaid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on a any Revolving Credit Loan shall become due on a day that which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Appears in 1 contract
Samples: Loan and Security Agreement (Nitinol Medical Technologies Inc)
