Common use of Business Day Convention Clause in Contracts

Business Day Convention. Unless otherwise specified in the applicable Supplemental Agreement, in any case in which an Interest Payment Date or Principal Payment Date is not a Business Day, payment of any interest on or the principal of the Debt Securities shall not be made on such date but shall be made on the next Business Day with the same force and effect as if made on such Interest Payment Date or Principal Payment Date, as the case may be. Unless otherwise provided in the applicable Supplemental Agreement, no interest on such payment shall accrue for the period from and after such Interest Payment Date or Principal Payment Date, as the case may be, to the actual date of such payment.

Appears in 33 contracts

Samples: Federal Home Loan Mortgage Corporation Global Debt Facility Agreement, Federal Home Loan Mortgage Corporation Global Debt Facility Agreement, Global Debt Facility Agreement (Federal Home Loan Mortgage Corp)

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Business Day Convention. Unless otherwise specified in the applicable Supplemental Agreement, in any case in which an Interest Payment Date or Principal Payment Date is not a Business Day, payment of any interest on or the principal of the Debt Securities shall not be made on such date but shall be made on the next Business Day with the same force and effect as if made on such Interest Payment Date or Principal Payment Date, as the case may be. Unless otherwise provided in the applicable Supplemental Agreement, no interest on such payment shall accrue for the period from and after such Interest Payment Date or Principal Payment Date, as the case may be, to the actual date of such payment.

Appears in 4 contracts

Samples: Federal Home Loan Mortgage Corporation, Global Debt Facility Agreement, Federal Home Loan Mortgage Corporation

Business Day Convention. Unless otherwise specified in the applicable Supplemental Agreement, in any case in which an Interest Payment Date or Principal Payment Date is not a Business Day, payment of any interest on or the principal of the Debt Securities Debentures or Medium-Term Notes shall not be made on such date but shall be made on the next Business Day with the same force and effect as if made on such Interest Payment Date or Principal Payment Date, as the case may be. Unless otherwise provided in the applicable Supplemental Agreement, no interest on such payment shall accrue for the period from and after such Interest Payment Date or Principal Payment Date, as the case may be, to the actual date of such payment.

Appears in 3 contracts

Samples: Federal Home Loan Mortgage Corporation, Federal Home Loan Mortgage Corporation, Federal Home Loan Mortgage Corporation

Business Day Convention. Unless otherwise specified in the applicable Supplemental Agreement, in any case in which an Interest Payment Date or Principal Payment Date is not a Business Day, payment of any interest on or the principal of the Debt Securities shall not be made on such date but shall be made on the next Business Day with the same force and effect as if made on such Interest Payment Date or Principal Payment Date, as the case may be. Unless otherwise provided in the applicable Supplemental Agreement, no interest on such payment shall accrue for the period from and after such Interest Payment Date or Principal Payment Date, as the case may be, to the actual date of such payment.. 25

Appears in 2 contracts

Samples: Global Debt Facility Agreement (Federal Home Loan Mortgage Corp), Global Debt Facility Agreement (Federal Home Loan Mortgage Corp)

Business Day Convention. Unless otherwise specified in the applicable Supplemental Agreement, in any case in which an Interest Payment Date or Principal Payment Date is not a Business Day, payment of any interest on or the principal of the Debt Securities shall not be made on such date but shall be made on the next Business Day with the same force and effect as if made on such Interest Payment Date or Principal Payment Date, as the case may be. Unless otherwise provided in the applicable Supplemental Agreement, no interest on such payment shall accrue for the period 26 from and after such Interest Payment Date or Principal Payment Date, as the case may be, to the actual date of such payment.

Appears in 1 contract

Samples: Global Debt Facility Agreement (Federal Home Loan Mortgage Corp)

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Business Day Convention. Unless otherwise specified in the applicable Supplemental Agreement, in any case in which an Interest Payment Date or Principal Payment Date is not a Business Day, payment of any interest on or the principal of the Debt Securities shall not be made on such date but shall be made on the next Business Day with the same force and effect as if made on such Interest Payment Date or Principal Payment Date, as the 23 case may be. Unless otherwise provided in the applicable Supplemental Agreement, no interest on such payment shall accrue for the period from and after such Interest Payment Date or Principal Payment Date, as the case may be, to the actual date of such payment.

Appears in 1 contract

Samples: Global Debt Facility Agreement (Federal Home Loan Mortgage Corp)

Business Day Convention. Unless otherwise specified speciÑed in the applicable Supplemental Agreement, in any case in which an Interest Payment Date or Principal Payment Date is not a Business Day, payment of any interest on or the principal of the Debt Securities Debentures or Medium-Term Notes shall not be made on such date but shall be made on the next Business Day with the same force and effect eÅect as if made on such Interest Payment Date or Principal Payment Date, as the case may be. Unless otherwise provided in the applicable Supplemental Agreement, no interest on such payment shall accrue for the period from and after such Interest Payment Date or Principal Payment Date, as the case may be, to the actual date of such payment.

Appears in 1 contract

Samples: Federal Home Loan Mortgage Corporation

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