Examples of Banking Holiday in a sentence
If any payment on this Note becomes due and payable on a Saturday, Sunday or Banking Holiday, then the date for payment thereof shall be extended to the next Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension.
Exchange agrees to return the relevant Retained Settlement Amounts and Retained Settlement Interest on the next Business Day or, if the next Business Day is a Recognized Banking Holiday, then on the first Business Day that is not a Recognized Banking Holiday, following such request provided that the Contracting Party’s Initial Margin is less than eighty percent (80%) of Net Equity on that Business Day.
If the Due Date is a Banking Holiday, the Due Date shall be the next Working Day.
The main reason is that our analysis ends in February 1933, before the National Banking Holiday.
Transfers initiated after 5:00 p.m. (Eastern Time), on a Saturday, on a Sunday or a Banking Holiday will be posted to your Account on the next Business Day.
Exchange agrees to return the relevant Contracting Party Interest on the next Business Day or, if the next Business Day is a Recognized Banking Holiday, then on the first Business Day that is not a Recognized Banking Holiday, following such request provided that the Contracting Party’s Initial Margin is less than eighty percent (80%) of Net Equity on that Business Day.
Upon a request by Exchange for additional Eligible Collateral Support from a Contracting Party in accordance with this Agreement, the Contracting Party agrees to provide such additional Eligible Collateral Support to Exchange within the next Business Day or, if the next Business Day is a day that is a Recognized Banking Holiday, then on the first Business Day that is not a Recognized Banking Holiday following any such request.
For this reason, CDCC has reviewed the methodology of the Additional Margin for Banking Holiday Risk and proposes to measure and combine the two risks into one supplemental additional margin.
Proposed methodology For the position risk, CDCC will calculate and apply at the Clearing Member level a charge based on the historical Margin movements for the products that could be negotiated during the Banking Holiday.
All transfers completed after 6:00p.m.on a business day or on a Saturday, Sunday or Banking Holiday will be considered on the next business day.