Payment on Non-Business Days. Whenever any payment to be made hereunder (other than a payment on LIBOR Advances) becomes due and payable on a day other than a Business Day, such payment shall be made on the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. If any payment on a LIBOR Advance becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made on the immediately preceding Business Day.
Appears in 11 contracts
Samples: Credit Agreement (America West Airlines Inc), Credit Agreement (America West Airlines Inc), Credit Agreement (Federal Express Corp)
Payment on Non-Business Days. Whenever any payment to be made hereunder (other than a payment of interest on LIBOR Advances) becomes shall be stated to be due and payable on a day other than a Business Day, such payment shall be made on the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. If any payment on a LIBOR Advance becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension would of time shall in such case be to extend such included in the computation of payment into another calendar monthof interest or fees, in which event such payment shall be made on as the immediately preceding Business Daycase may be.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Continental Airlines Inc /De/), Revolving Credit Agreement (Continental Airlines Inc /De/), Revolving Credit Agreement (Continental Airlines Inc /De/)
Payment on Non-Business Days. Whenever any payment to be made hereunder (other than a payment on LIBOR Advances) becomes due and payable on a day other than a Business Day, such payment shall be made on the next succeeding Business Day and interest thereon shall be payable at the then applicable rate during such extension. If any payment payments on a LIBOR Advance becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made on the immediately preceding Business Day.
Appears in 3 contracts
Samples: Northwest Airlines Corp, Northwest Airlines Corp, Northwest Airlines Corp
