DUE DATE OF PAYMENT Clause Samples

DUE DATE OF PAYMENT. If the due date in respect of any instalment of principal, interest and liquidated damages and all other monies payable under this Agreement falls on a day which is a bank holiday at the place where the payment is to be made, the immediately preceding working day shall be the due date for such payment.

DUE DATE OF PAYMENT. If the Due Date in respect of any amounts including Defaulted Amounts, commission, charges and interest falls on a day which is not a Business Day at the place where the payment is to be made, the immediately preceding Business Day shall be the Due Date for such payment.

DUE DATE OF PAYMENT. Where the Sellers become liable to make any payment under paragraph 2, the due date for the making of that payment in cleared funds shall be: 8.1.1 in a case that involves an actual payment of Tax by the relevant Group Company, the day preceding the date that is the last date on which such Group Company would have had to have paid to the appropriate Tax Authority the Tax that has given rise to the Sellers' liability under this Schedule in order to avoid incurring a liability to interest or a charge or penalty in respect of that Tax liability or in order to enable the liability in question to be appealed; or 8.1.2 in a case falling within paragraph 2.1.2 the day preceding the date that is the last date on which the Tax, which but for such loss, reduction, modification or disallowance would have been saved, has to be paid to the appropriate Tax Authority in order to avoid incurring a liability to interest or a charge or penalty in respect of that Tax; 8.1.3 in a case falling within paragraph 2.1.3, the day payment would have been due under 8.1.1 above assuming the Post Accounts Date Relief had not been used or set off as envisaged in paragraph 2.1.3; or 8.1.4 in a case falling within paragraph 2.1.4 the date on which the repayment of Tax or payment or other consideration for the surrender of group relief would have been payable; or 8.1.5 in a case falling within paragraph 2.1.5, within 30 days of demand; 8.1.6 in any other case falling within paragraph 2, on the date on which the relevant Group Company is required to meet such liability;

DUE DATE OF PAYMENT. If the due date in respect of any payment to be made under this Agreement falls on a day other than the Business Day, the immediately preceding Business Day shall be the due date for such payment.

DUE DATE OF PAYMENT. Where the Covenantors become liable to make any payment in respect of a Tax Claim, the due date for making that payment is: (1) in a case that involves an actual payment by a Group Company, the later of: (1) five Business Days before the last date on which that Group Company can make the payment in question without incurring a liability to interest or penalties; and (2) five Business Days after the Buyer or relevant Group Company notifies the Covenantors of the liability to make a payment and the amount of that payment; (2) in a case that falls within paragraph 4(i) of this Schedule, the later of: (1) the date on which repayment would have been received; and (2) five Business Days after the Buyer or the relevant Group Company notifies the Covenantors of the liability to make a payment and the amount of that payment; (3) in a case that falls within paragraph 4(ii) of this Schedule, the later of: (1) five Business Days before the relevant Group Company becomes due to pay any Tax which it would not, but for such loss, have had to pay (or would have become so due but for the use of any Accounts Relief); and (2) five Business Days after the Buyer or the relevant Group Company notifies the Covenantors of the liability to make a payment and the amount of that payment; (4) in a case that falls within paragraph 4(iii) of this Schedule, the later of: (1) five Business Days before the relevant Group Company would have been due to pay the Tax but for such setting off; and (2) five Business Days after the Buyer or relevant Group Company notifies the Covenantors of the liability to make a payment and the amount of that payment; or (5) in any other case, five Business Days after the Buyer or relevant Group Company notifies the Covenantors of the liability to make a payment and the amount of that payment.

DUE DATE OF PAYMENT. 7.1 Where any Seller becomes liable to make any payment pursuant to paragraph 2 the Due Date for the making of that payment shall be the date of written demand by the Buyer or (if later): (A) subject as provided by paragraph 7.1(C), in a case that involves an actual payment of tax by the Company (or would have done but for the use of any Relief or right of repayment as referred to in paragraph 1.3(C)) seven days prior to the date that is the last date on which the Company or Buyer would have had to have paid to the appropriate Tax Authority the tax that has given rise to the Sellers’ liability under this Schedule in order to avoid incurring a liability to interest or a charge or penalty in respect of that tax liability; (B) in a case falling within paragraph 1.3(A) or (B), the date on which any tax liability would have fallen due but for any available Reliefs, rights of repayment or claims of a similar nature; (C) in a case falling within paragraph 1.3(C), the date on which the Company becomes due to pay any tax which it would not, but for such setting off, have had to pay; or (D) in a case falling within paragraph 2.1(C) a liability to inheritance tax or a charge on or power to sell, mortgage or charge any of the shares or assets of the Company shall be treated as becoming due, and a charge or power to sell, mortgage or charge as arising, on the date of the transfer of value or other date or event on or in respect of which it becomes payable or arises and the provisions of section 213 of the Inheritance Tax ▇▇▇ ▇▇▇▇ shall not apply.

DUE DATE OF PAYMENT. 5.1 Where a claim under this Part of this Schedule relates to a liability to make or suffer an actual payment or increased payment of Tax, the Sellers shall pay to the Purchaser the amount claimed under this Schedule in respect thereof on or before the date which is the later of the date fifteen (15) Business Days after written demand is made therefor under this Schedule and two (2) Business Days prior to the latest date on which the Tax in question can be paid to the relevant Tax Authority in order to avoid a liability to interest or penalties accruing. 5.2 Where a claim under this Schedule relates to the set off of a repayment of Tax, credit or other amount payable by a Tax Authority, the Sellers shall pay to the Purchaser the amount claimed under this Part of this Schedule in respect thereof on or before the date which is the later of the date fifteen (15) Business Days after written demand is made therefor under this Part of this Schedule and the date when such payment would have been due were it not for such setting off. 5.3 Where a claim under this Schedule relates to the use or set off of any Relief other than a repayment of Tax, credit or other amount payable by a Tax Authority, the Sellers shall pay to the Purchaser the amount claimed under this Part of this Schedule in respect thereof on or before the date which is the later of the date fifteen (15) Business Days after written demand is made therefor under this Schedule, and the date or dates referred to in paragraph 5.1 that apply to Tax which is payable but which would not have been payable but for such use or set off.

DUE DATE OF PAYMENT. In respect of Rupee term loan, if the due date in respect of any instalment of principal, interest and liquidated damages and all other monies payable under the Loan Agreement falls on a Saturday or a day which is a bank holiday at the place where the payment is to be made , the immediately preceding work- ing day shall be the due date for such payment.

DUE DATE OF PAYMENT. 10.1 Where the Covenantor becomes liable to make any payment under clause 2 (COVENANT), the payment shall be made in cleared funds and the due date for the making of that payment shall be the later of:- (A) three Business Days following the date on which notice demanding such payment is received by the Covenantor from the Purchaser; and (B) in a case that involves an actual payment of Tax by the Company and/or any of the Subsidiary, the date that is the last date on which the Company or Subsidiary would have had to have paid to the appropriate Tax Authority the Tax that has given rise to the Covenantor’s liability under this deed in order to avoid incurring a liability to interest or a charge or penalty in respect of that Tax Liability; or (C) in a case falling within any of sub-clauses 1.2(A), 1.2(B) or 1.2(C), the date the repayment would have been obtained or when Tax would have been payable but for the setting off, as the case may be. 10.2 If any payment required to be made by any party under this deed is not made by the due date for the making thereof, then, except to the extent that the Covenantor’s liability under clause 2 (COVENANT) compensates the Purchaser for the late payment by virtue of its extending to interest and penalties, that payment shall carry interest from that due date until the date when the payment is actually made at the rate of 4 per cent. above the base rate from time to time of the Royal Bank of Scotland plc.