Common use of Payment on Business Day Clause in Contracts

Payment on Business Day. In any case where the date of the maturity of interest or of principal (and premium, if any) of the Bonds or the date fixed for redemption of any Bonds or the date any action is to be taken pursuant to this Agreement is other than a Business Day, the payment of interest or principal (and premium, if any) or the action need not be made on such date but may be made on the next succeeding day which is a Business Day with the same force and effect as if made on the date required and no interest shall accrue for the period from and after such date.

Appears in 9 contracts

Samples: Fiscal Agent Agreement, Fiscal Agent Agreement, Fiscal Agent Agreement

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Payment on Business Day. In any case where the date of the maturity of interest or of principal (and premium, if any) of the Bonds or the date fixed for redemption of any Bonds or the date any action is to be taken pursuant to this Agreement is other than a Business Day, the payment of interest or principal (and premium, if any) or the action need not be made on such date but may be made on the next succeeding day which is a Business Day with the same force and effect as if made on the date required and no additional interest shall accrue for the period from and after such dateInterest Payment Date until such Business Day.

Appears in 3 contracts

Samples: Fiscal Agent Agreement, Fiscal Agent Agreement, Fiscal Agent Agreement

Payment on Business Day. In any case where the date of the maturity of interest or of principal (and premium, if any) of the Bonds and Additional Bonds or the date fixed for redemption of any Bonds and Additional Bonds or the date any action is to be taken pursuant to this Agreement is other than a Business Day, the payment of interest or principal (and premium, if any) or the action need not be made on such date but may be made on the next succeeding day which is a Business Day with the same force and effect as if made on the date required and no interest shall accrue for the period from and after such date.

Appears in 2 contracts

Samples: Fiscal Agent Agreement, Fiscal Agent Agreement

Payment on Business Day. In any case where the date of the maturity of interest or of principal (and premium, if any) of the Bonds Bonds, or the date fixed for redemption of any Bonds Bonds, or the date any action is to be taken pursuant to under this Agreement Agreement, is other than a Business Day, the payment of interest or principal (and premium, if any) or the action need not be made on such date but may shall be made on the next succeeding day which is a Business Day with the same force and effect as if made on the date required and no interest shall accrue for the period from and after such date.

Appears in 2 contracts

Samples: Fiscal Agent Agreement, Fiscal Agent Agreement

Payment on Business Day. In any case where the date of the maturity of interest or of principal (and premium, if any) of the Bonds or the date fixed for redemption of any Bonds or the date any action is to be taken pursuant to this Agreement is other than a Business Day, the payment of interest or principal (and premiumprincipal, if any) or the action need not be made on such date but may be made on the next succeeding day which is a Business Day with the same force and effect as if made on the date required and no additional interest shall accrue for the period from and after such dateInterest Payment Date until such Business Day.

Appears in 1 contract

Samples: Fiscal Agent Agreement

Payment on Business Day. In any case where the date of the maturity of interest or of principal (and premium, if any) of the Bonds 2022 Bonds, or the date fixed for redemption of any Bonds 2022 Bonds, or the date any action is to be taken pursuant to under this Agreement Agreement, is other than a Business Day, the payment of interest or principal (and premium, if any) or the action need not be made on such date but may shall be made on the next succeeding day which is a Business Day with the same force and effect as if made on the date required and no interest shall accrue for the period from and after such date.

Appears in 1 contract

Samples: Fiscal Agent Agreement

Payment on Business Day. In any case where the date of the maturity of interest or of principal (and premium, if any) of the Bonds or the date fixed for redemption of any Bonds or the date any action is to be taken pursuant to this Agreement Indenture is other than a Business Day, the payment of interest or principal (and premium, if any) or the action need not be made on such date but may be made on the next succeeding day which is a Business Day with the same force and effect as if made on the date required and no interest shall accrue for the period from and after such date.

Appears in 1 contract

Samples: Indenture

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Payment on Business Day. In any case where the date of the maturity of interest or of principal (and premium, if any) of the Bonds or the date fixed for redemption of any Bonds or the date any action is to be taken pursuant to this Agreement is other than a Business Day, the payment of interest or principal (and premium, if any) or the action need not be made on such date but may be made on the next succeeding day which is a Business Day with the same force and effect as if made on the date required and no interest shall accrue for the period from and after such date.

Appears in 1 contract

Samples: Fiscal Agent Agreement

Payment on Business Day. In any case where the date of the maturity of interest or of principal (and premium, if any) of the Reassessment Bonds or the date fixed for redemption of any Reassessment Bonds or the date any action is to be taken pursuant to this Agreement is other than a Business Day, the payment of interest or principal (and premium, if any) or the action need not be made on such date but may be made on the next succeeding day which is a Business Day with the same force and effect as if made on the date required and no additional interest shall accrue for the period from and after such dateInterest Payment Date until such Business Day.

Appears in 1 contract

Samples: Fiscal Agent Agreement

Payment on Business Day. In any case where the date of the maturity of interest or of principal (and premium, if any) of the Bonds or the date fixed for redemption of any Bonds or the date any action is to be taken pursuant to this Agreement is other than a Business Day, the payment of interest or principal (and premium, if any) or the action need not be made on such date but may be made on the next succeeding day which is a Business Day with the same force and effect as if made on the date required and no interest shall accrue for the period from and after such date.

Appears in 1 contract

Samples: Paying Agent Agreement

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