Common use of DUE DATE OF PAYMENT Clause in Contracts

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. 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 working day shall be the due date for such payment.