Payment Dates Generally Sample Clauses
The 'Payment Dates Generally' clause establishes the standard rules and timing for when payments are due under an agreement. It typically specifies the calendar dates or intervals (such as monthly, quarterly, or upon receipt of invoice) by which payments must be made, and may address what happens if a payment date falls on a weekend or holiday. This clause ensures both parties have a clear understanding of their payment obligations, reducing the risk of disputes or late payments by providing a predictable schedule.
Payment Dates Generally. If any interest payment date, date of redemption or the maturity date of any of the Notes is not a Business Day, then payment of principal and interest shall be made on the next succeeding Business Day. No interest shall accrue on the amount so payable for the period from that interest payment date, redemption date or maturity date, as the case may be, to the date payment is made.
Payment Dates Generally. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day. Any amounts received under Section 1(b) or Section 2 shall be applied (i) first, to the payment of accrued and unpaid Interest, until paid in full and (ii) second, to the payment of Principal then due, until paid in full.