Common use of Payment Date Other Than a Business Day Clause in Contracts

Payment Date Other Than a Business Day. If an Interest Payment Date, Redemption Date, Payment Date, Stated Maturity or date of maturity of any Security shall not be a Business Day, then payment of principal of, premium, if any, or interest on such Security, as the case may be, 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 Interest Payment Date, Payment Date, Redemption Date, or at the Stated Maturity or date of maturity of such Security; PROVIDED that no interest shall accrue for the period from and after such Interest Payment Date, Payment Date, Redemption Date, Stated Maturity or date of maturity, as the case may be.

Appears in 2 contracts

Samples: GST Equipment (GST Telecommunications Inc), GST Telecommunications Inc

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Payment Date Other Than a Business Day. If an Interest Payment Date, Redemption Date, Payment Date, Stated Maturity or date of maturity or repurchase of any Security Note or any other payment date shall not be a Business Day, then payment of principal of, premium, if any, or interest on such SecurityNote, as the case may be, 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 Interest Payment Date, Payment Date, Date or Redemption Date, or at the Stated Maturity or date of maturity or repurchase of such SecurityNote; PROVIDED that no interest shall accrue for the period from and after such Interest Payment Date, Payment Date, Redemption Date, Stated Maturity or date of maturitymaturity or repurchase, as the case may be.

Appears in 2 contracts

Samples: Permar Systems, Inc., Multiplex Co Inc

Payment Date Other Than a Business Day. If an Interest Payment Date, Redemption Date, Payment Date, Stated Maturity or date of maturity Maturity of any Security Note shall not be a Business Day, then payment of principal of, premium, if any, or interest on such SecurityNote, as the case may be, 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 such Interest Payment Date, Payment Date, Redemption Date, or at the Payment Date, Stated Maturity or date of maturity Maturity of such SecurityNote; PROVIDED provided that no interest shall accrue for the period from and after such Interest Payment Date, Payment Redemption Date, Redemption Payment Date, Stated Maturity or date of maturityMaturity, as the case may be.

Appears in 1 contract

Samples: Indenture (Advanced Lighting Technologies Inc)

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Payment Date Other Than a Business Day. If -------------------------------------- an Interest Payment Date, Redemption Date, Payment Date, Stated Maturity or date of maturity of any Security Note shall not be a Business Day, then payment of principal of, premium, if any, or interest on such SecurityNote, as the case may be, 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 Interest Payment Date, Payment Date, or Redemption Date, or at the Stated Maturity or date of maturity of such SecurityNote; PROVIDED provided that no interest shall accrue for the period from and after such Interest Payment Date, Payment Date, Redemption Date, Stated Maturity or date of maturity, as the case may be.

Appears in 1 contract

Samples: Icg Services Inc

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