Common use of Payments on Business Days Clause in Contracts

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 46 contracts

Samples: Indenture (Independent Bank Corp), Indenture (Independent Capital Trust Iii), Indenture (American Community Bancshares Inc)

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Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.4) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 21 contracts

Samples: Indenture Indenture (Pennfirst Capital Trust I), Indenture (Eagle Bancshares Inc), Indenture (Bankatlantic Bancorp Inc)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.5(b)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 15 contracts

Samples: Indenture (S Y Bancorp Inc), Indenture (S Y Bancorp Inc), S.Y. Bancorp Capital Trust II

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.5) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 12 contracts

Samples: Matrix Bancorp Capital Trust I, Ifc Capital Trust I, Stifel Financial Capital Trust

Payments on Business Days. In Except as set forth in a Manager’s Certificate, or established in one or more indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Debenture Bond or the date of redemption of any Debenture Bond shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 10 contracts

Samples: Indenture (Red Oak Capital Intermediate Income Fund, LLC), MCI Income Fund VII, LLC, Indenture (Red Oak Capital Fund IV, LLC)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture the Junior Subordinated Debentures or the date of redemption of any Debenture the Junior Subordinated Debentures shall not be a Business Day, then payment of interest or principal may will be made on the next succeeding Business Day (without any additional interest or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal datepayment was originally payable.

Appears in 10 contracts

Samples: Union Bankshares Capital Trust I, Blue Valley Ban Corp, Community First Bankshares Inc

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.5(c)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 7 contracts

Samples: Indenture (San Rafael Bancorp), Indenture (Florida Banks Inc), Indenture (Investorsbancorp Inc)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.4(b)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 3 contracts

Samples: First Busey Statutory Trust V, Mb Financial Capital Trust I, Mb Financial Inc /Md

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture Security or the date of redemption of any Debenture Security shall not be a Business Day, then payment of principal, premium, if any, or interest or principal and premium, if any, may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 3 contracts

Samples: Mallinckrodt PLC, Mallinckrodt PLC, Covidien PLC

Payments on Business Days. In any case where the date of ------------------------- maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.4(b)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 2 contracts

Samples: Abc Bancorp Capital Trust I, Abc Bancorp Capital Trust I

Payments on Business Days. In any case where the date of maturity Maturity of interest or principal of any Debenture Note or the date of redemption of any Debenture Note shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity Maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 2 contracts

Samples: Indenture (International Flavors & Fragrances Inc), Indenture (Nutrition & Biosciences, Inc.)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture the Subordinated Debentures or the date of redemption of any Debenture the Subordinated Debentures shall not be a Business Day, then payment of interest or principal may will be made on the next succeeding Business Day (without any additional interest or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal datepayment was originally payable.

Appears in 2 contracts

Samples: Bank of the Ozarks Inc, Ozark Capital Trust

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture of the Notes or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 2 contracts

Samples: Indenture (RLJ Lodging Trust), Indenture (RLJ Lodging Trust)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to SECTION 2.4) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 1 contract

Samples: Southside Capital Trust I

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Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.4) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.if

Appears in 1 contract

Samples: Apab Capital Trust I

Payments on Business Days. In any case where the date Maturity Date of maturity principal or Interest Payment Date of interest or principal of any Debenture the Debentures or the date Redemption Date of redemption of any Debenture the Debentures shall not be a Business Day, then payment of principal or interest or principal may of the Debentures shall be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 1 contract

Samples: Debenture Purchase Agreement (3d Systems Corp)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture Note or the date of redemption of any Debenture Note shall not be a Business Day, then payment of interest or principal principal, and premium, if any, may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 1 contract

Samples: Indenture (Metlife Inc)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.5) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.. 42 50

Appears in 1 contract

Samples: First Banks Inc

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.4(b)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.. 51NEXT PAGE

Appears in 1 contract

Samples: Itla Capital Corp

Payments on Business Days. In any case where the date of maturity of interest or interest, principal of any Debenture the Debentures or the date of redemption of any Debenture thereof shall not be a Business Day, then payment of interest or interest, principal may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue with respect to such payment for the period after such nominal date.. 76

Appears in 1 contract

Samples: Indenture (Crown Media Holdings Inc)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.5(c)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 1 contract

Samples: Indenture (Alabama National Bancorporation)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption or conversion of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.5(b)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 1 contract

Samples: Indenture (Tompkins Financial Corp)

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