Common use of Saturdays, Sundays, Holidays, etc Clause in Contracts

Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close (each such day, a “Business Day”), then, such action may be taken or such right may be exercised on the next succeeding Business Day.