Common use of Payments Due on Days other than Business Days Clause in Contracts

Payments Due on Days other than Business Days. In any case where the date of maturity of interest on or principal of the Bonds or the date fixed for redemption of the Bonds shall be in the city of payment a day other than a Business Day, then payment of interest or principal need not be made on such date but may be made on the next succeeding Business Day with the same force and effect as if made on the date of maturity or the date fixed for redemption, provided that interest shall accrue for the period of any such extension.

Payments Due on Days other than Business Days. In After the Conversion Date, in any case where the date of maturity of principal of or interest on or principal of the Bonds or the date fixed for redemption of the any Bonds shall not be in the city of payment a day other than a Business Day, then payment of interest or principal and any premium need not be made on such date but may be made on the next succeeding Business Day with the same force and effect as if made on the date of maturity or the date fixed for redemption, provided that redemption and if made on such next succeeding Business Day no additional interest shall accrue for the period of any after such extensiondate.

Payments Due on Days other than Business Days. In any case where the date of maturity of interest on or principal of the Bonds or the date fixed for redemption of the Bonds shall be in the city of payment a day other than a Business Day, then payment of interest or principal need not be made on such date but may be made on the next succeeding Business Day with the same force and effect as if made on the date of maturity or the date fixed for redemption, provided that interest shall accrue for the period of any such extension.