Market Day definition
Examples of Market Day in a sentence
Vendors who attempt to leave before the close of the Market Day will be issued a verbal warning.
If any principal payment to be made by Borrower on a LIBOR Loan shall come due on a day other than a LIBOR Market Day, payment shall be made on the next preceding or succeeding LIBOR Market Day as determined by the Administrative Agent in accordance with the then current banking practice in the LIBOR Market and the adjustment shall be reflected in computing interest.
If any stated Maturity of a Global Note is not an applicable Market Day, the payment due on such day shall be made on the next succeeding Market Day and no interest shall accrue on such payment for the period from and after such stated Maturity.
Canada, the applicable Registrar and, in respect of DTC Global Notes, DTC will confirm the amounts of such principal and interest payments with respect to each such Global Note on or about the fifth applicable Market Day preceding the stated Maturity of such Global Note.
If a Market Day is cancelled under this paragraph, it is understood and agreed that there shall be no claim for damages by either party to the Contract, and that the parties’ obligations under this agreement are deemed waived.