Common use of Nonbusiness Days Clause in Contracts

Nonbusiness Days. Any payment or action that is due under any Credit Document on a non-Business Day may be delayed until the next succeeding Business Day (but interest accrues on any payment until it is made). If, however, the payment concerns a LIBOR Rate Borrowing and if the next succeeding Business Day is in the next calendar month, then that payment must be made on the next preceding Business Day.

Appears in 10 contracts

Samples: Term Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp)

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Nonbusiness Days. Any payment or action that is due under any Credit Document on a non-Business Day may be delayed until the next next-succeeding Business Day (but interest accrues shall continue to accrue on any applicable payment until it payment is in fact made). If, however, ) unless the payment concerns a LIBOR Rate Borrowing and Borrowing, in which case if the next next-succeeding Business Day is in the next calendar month, then that such payment must shall be made on the next next-preceding Business Day.

Appears in 4 contracts

Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Capital Inc)

Nonbusiness Days. Any payment or action that is due under any Credit Document on a non-Business Day may be delayed until the next succeeding Business Day (but interest accrues shall continue to accrue on any applicable payment until it payment is in fact made). If, however, ) unless the payment concerns a LIBOR Rate Borrowing and Borrowing, in which case if the next next-succeeding Business Day is in the next calendar month, then that such payment must shall be made on the next next-preceding Business Day.

Appears in 3 contracts

Samples: Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx), Credit Agreement (PMC Commercial Trust /Tx)

Nonbusiness Days. Any payment or action that is due under any Credit Document on a non-Business Day may be delayed until the next next-succeeding Business Day (but interest accrues shall continue to accrue on any applicable payment until it payment is in fact made). If, however, ) unless the payment concerns a LIBOR Rate Borrowing and or a Eurocurrency Borrowing, in which case if the next next-succeeding Business Day is in the next calendar month, then that such payment must shall be made on the next next-preceding Business Day.

Appears in 3 contracts

Samples: Credit Agreement (Ultrak Inc), Credit Agreement (Ultrak Inc), Credit Agreement (Ultrak Inc)

Nonbusiness Days. Any payment or action that is due under any Credit Loan Document on a non-Business Day may be delayed until the next next-succeeding Business Day (but interest accrues shall continue to accrue on any applicable payment until it payment is in fact made). If, however, ) unless the payment concerns a LIBOR LIBOR-Rate Borrowing and Borrowing, in which case if the next next-succeeding Business Day is in the next calendar month, then that such payment must shall be made on the next next-preceding Business Day.

Appears in 3 contracts

Samples: Credit Agreement (Goodrich Petroleum Corp), Credit Agreement (Goodrich Petroleum Corp), Credit Agreement (Goodrich Petroleum Corp)

Nonbusiness Days. Any payment or action that is due under any Credit Loan Document on a non-Business Day may be delayed until the next next-succeeding Business Day (but interest accrues shall continue to accrue on any applicable payment until it payment is in fact made). If, however, ) unless the payment concerns a LIBOR LIBOR-Rate Borrowing and Tranche, in which case if the next next-succeeding Business Day is in the next calendar month, then that such payment must shall be made on the next next-preceding Business Day.

Appears in 2 contracts

Samples: Credit Agreement (Goodrich Petroleum Corp), Term Loan Agreement (Goodrich Petroleum Corp)

Nonbusiness Days. Any payment or action that is due under any Credit Document on a non-Business Day may be delayed until the next next-succeeding Business Day (but interest accrues on any payment until it is made). IfHowever, however, if the payment concerns a LIBOR LIBOR-Rate Borrowing and if the next next-succeeding Business Day is in the next calendar month, then that payment must be made on the next next-preceding Business Day.

Appears in 2 contracts

Samples: Credit Agreement (Teppco Partners Lp), Credit Agreement (Teppco Partners Lp)

Nonbusiness Days. Any payment or action that is due under any Credit Loan Document on a non-Business Day may be delayed until the next next-succeeding Business Day (but interest accrues shall continue to accrue on any applicable payment until it payment is in fact made). If, however, ) unless the payment concerns a LIBOR Rate Borrowing and Borrowing, in which case if the next next-succeeding Business Day is in the next calendar month, then that such payment must shall be made on the next next-preceding Business Day.

Appears in 2 contracts

Samples: Credit Agreement (Affiliated Computer Services Inc), Credit Agreement (Affiliated Computer Services Inc)

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Nonbusiness Days. Any payment or action that is due under any Credit Document on a non-Business Day may be delayed until the next next- succeeding Business Day (but interest accrues on any payment until it is made). IfHowever, however, if the payment concerns a LIBOR Eurodollar-Rate Borrowing and if the next next-succeeding Business Day is in the next calendar month, then that payment must be made on the next next-preceding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Pier 1 Imports Inc/De)

Nonbusiness Days. Any payment or action that is due under any Credit Loan Document on a non-Business Day may be delayed until the next next-succeeding Business Day (but interest accrues shall continue to accrue on any applicable payment until it payment is in fact made). If, however, ) unless the payment concerns a LIBOR CD-Rate Borrowing and or a LIBOR-Rate Borrowing, in which case if the next next-succeeding Business Day is in the next calendar month, then that such payment must shall be made on the next next-preceding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Pillowtex Corp)

Nonbusiness Days. Any payment or action that is due under any Credit Document Loan Paper on a non-Business Day may be delayed until the next next-succeeding Business Day (but interest accrues shall continue to accrue on any applicable payment until it payment is in fact made). If, however, ) unless the payment concerns a LIBOR Rate Borrowing and Borrowing, in which case if the next next-succeeding Business Day is in the next calendar month, then that such payment must shall be made on the next next-preceding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Kaneb Pipe Line Partners L P)

Nonbusiness Days. Any payment or action that is due under any Credit Loan Document on a non-Business Day may be delayed until the next next-succeeding Business Day (but interest accrues shall continue to accrue on any applicable payment until it payment is in fact made). If, however, ) unless the payment concerns a LIBOR Borrowing or Quoted-Rate Borrowing and Borrowing, in which case if the next next-succeeding Business Day is in the next calendar month, then that such payment must shall be made on the next next-preceding Business Day.

Appears in 1 contract

Samples: Credit Agreement (Northern Border Partners Lp)

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