Common use of Distributions Due on Days Other than Business Days Clause in Contracts

Distributions Due on Days Other than Business Days. If, for any Pass Through Trust, any Distribution Date is not a Business Day, then such distribution need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the applicable Distribution Date, and no interest shall accrue for the intervening period.

Appears in 5 contracts

Samples: Trust Agreement (Federal Express Corp), Trust Agreement (Federal Express Corp), Trust Agreement (Federal Express Corp)

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