Common use of Delay of Payment when Payment Date is Not a Business Day Clause in Contracts

Delay of Payment when Payment Date is Not a Business Day. If the due date for a payment on any Convertible Preferred Stock as provided in this Certificate of Designations is not a Business Day, then, notwithstanding anything to the contrary in this Certificate of Designations, such payment may be made on the immediately following Business Day and no interest, dividend or other amount will accrue or accumulate on such payment as a result of the related delay. Solely for purposes of the immediately preceding sentence, a day on which the applicable place of payment is authorized or required by law or executive order to close or be closed will be deemed not to be a “Business Day.”

Appears in 7 contracts

Samples: Investment Agreement (Rhythm Pharmaceuticals, Inc.), Securities Purchase Agreement (Azz Inc), Exchange Agreement (Comtech Telecommunications Corp /De/)

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Delay of Payment when Payment Date is Not a Business Day. If the due date for a payment on any outstanding share of Convertible Preferred Stock as provided in this Certificate of Designations Designation is not a Business Day, then, notwithstanding anything to the contrary in this Certificate of DesignationsDesignation, such payment may be made on the immediately following Business Day and no interest, dividend or other amount will accrue or accumulate on such payment as a result of the related delay. Solely for purposes of the immediately preceding sentence, a day on which the applicable place of payment is authorized or required by applicable law or executive order to close or be closed will be deemed not to be a “Business Day.”

Appears in 2 contracts

Samples: Securities Purchase Agreement (APi Group Corp), Securities Purchase Agreement (APi Group Corp)

Delay of Payment when Payment Date is Not a Business Day. If the due date for a payment on any Convertible Preferred Stock as provided in this Certificate of Designations Designation is not a Business Day, then, notwithstanding anything to the contrary in this Certificate of DesignationsDesignation, such payment may be made on the immediately following Business Day and no interest, dividend or other amount will accrue or accumulate on such payment as a result of the related delay. Solely for purposes of the immediately preceding sentence, a day on which the applicable place of payment is authorized or required by law or executive order to close or be closed will be deemed not to be a “Business Day.”

Appears in 1 contract

Samples: Securities Purchase Agreement (Cryoport, Inc.)

Delay of Payment when Payment Date is Not a Business Day. If the due date for a payment on any share of Convertible Preferred Stock as provided in this Certificate of Designations is not a Business Day, then, notwithstanding anything to the contrary in this Certificate of Designations, such payment may be made on the immediately following Business Day and no additional interest, dividend or other amount will accrue or accumulate on such payment as a result of the related delay. Solely for purposes of the immediately preceding sentence, a day on which the applicable place of payment is authorized or required by law or executive order to close or be closed will be deemed not to be a “Business Day.”

Appears in 1 contract

Samples: Preferred Stock Purchase Agreement (Benefitfocus, Inc.)

Delay of Payment when Payment Date is Not a Business Day. If the due date for a payment on any Convertible Preferred Stock Share as provided in this Certificate of Designations Amendment is not a Business Day, then, notwithstanding anything to the contrary in this Certificate of DesignationsAmendment, such payment may be made on the immediately following Business Day and no interest, dividend or other amount will accrue or accumulate on such payment as a result of the related delay. Solely for purposes of the immediately preceding sentence, a day on which the applicable place of payment is authorized or required by law or executive order to close or be closed will be deemed not to be a “Business Day.”

Appears in 1 contract

Samples: Investment Agreement (Agilysys Inc)

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Delay of Payment when Payment Date is Not a Business Day. If the due date for a payment on any Convertible Preferred Stock as provided in this Certificate of Designations is not a Business Day, then, notwithstanding anything to the contrary in this Certificate of Designations, such payment may be made on the immediately following Business Day Day, and no interest, dividend dividend, or other amount will accrue or accumulate on such payment as a result of the related delay. Solely for purposes of the immediately preceding sentence, a day on which the applicable place of payment is authorized or required by law or executive order to close or be closed will be deemed not to be a “Business Day.”

Appears in 1 contract

Samples: Subscription Agreement (Dream Finders Homes, Inc.)

Delay of Payment when Payment Date is Not a Business Day. If the due date for a payment on any Convertible Exchangeable Preferred Stock as provided in this Certificate of Designations is not a Business Day, then, notwithstanding anything to the contrary in this Certificate of Designations, such payment may be made on the immediately following Business Day and no interest, dividend or other amount will accrue or accumulate on such payment as a result of the related delay. Solely for purposes of the immediately preceding sentence, a day on which the applicable place of payment is authorized or required by law or executive order to close or be closed will be deemed not to be a “Business Day.”

Appears in 1 contract

Samples: Investment Agreement (Shenandoah Telecommunications Co/Va/)

Delay of Payment when Payment Date is Not a Business Day. If the due date for a payment on any Convertible Preferred Stock as provided in this Certificate of Designations is not a Business Day, then, notwithstanding anything to the contrary in this Certificate of Designations, such payment may be made on the immediately following Business Day and no interest, dividend or other amount will accrue or accumulate on such payment as a result of the related delay. Solely for purposes of the immediately preceding sentence, a day on which the applicable place of payment is authorized or required by law or executive order applicable Law to close or be closed will be deemed not to be a “Business Day.”

Appears in 1 contract

Samples: Merger Agreement (M3-Brigade Acquisition II Corp.)

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