Time; Date for Performance Clause Samples

Time; Date for Performance. Time is of the essence of this Agreement. If any date herein set forth for the performance of any obligations by the Lender or the Borrower or for the delivery of any instrument or notice as herein provided should be on a Saturday, Sunday or legal holiday, the compliance with such obligations or delivery shall be deemed acceptable on the next business day following such Saturday, Sunday or legal holiday. As used herein, the term "legal holiday" means any state or federal holiday for which financial institutions or post offices are generally closed in the Commonwealth of Pennsylvania for observance thereof,