Common use of Payments Due on Holidays Clause in Contracts

Payments Due on Holidays. If any payment due on, or with respect to, any Note shall fall due on a day other than a Business Day, then such payment shall be made on the first Business Day following the day on which such payment shall have so fallen due; provided that if all or any portion of such payment shall consist of a payment of interest, for purposes of calculating such interest, such payment shall be deemed to have been originally due on such first following Business Day, and such interest shall accrue and be payable to (but not including) the actual date of payment.

Appears in 7 contracts

Samples: Note Purchase Agreement (Smithfield Foods Inc), Note Purchase Agreement (Smithfield Foods Inc), Note Purchase Agreement (Smithfield Foods Inc)

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Payments Due on Holidays. If any payment due on, or with respect to, any Note Debenture shall fall due on a day other than a Business Day, then such payment shall be made made, in the same amount without adjustment, on the first Business Day following the day on which such payment shall have so fallen due; provided that , with the same force and effect as if all or any portion of such made on the day the payment shall consist of a payment of interestbecame due, for purposes of calculating such interestand, such payment shall be deemed to have been originally due on such first following Business Dayif so paid, and such no interest shall accrue and be payable to (but not including) for the actual date of paymentperiod after such payment date.

Appears in 2 contracts

Samples: Debenture Purchase Agreement (Pacific Premier Bancorp Inc), Debenture Purchase Agreement (Life Financial Corp)

Payments Due on Holidays. If any payment due on, or with respect to, any Note shall fall due on a day other than a Business Day, then such payment shall be made on the first Business Day following the day on which such payment shall have so fallen was due; provided that if ;all or any portion of such payment shall consist consist-of a payment of interest, for purposes of calculating such interest, such payment shall be deemed to have been originally due on such first following Business Day, and such interest shall accrue accrue., and be payable to (but not including) the actual date of payment, and the amount of the next succeeding interest payment shall be adjusted accordingly.

Appears in 1 contract

Samples: Note Purchase Agreement (Smithfield Foods Inc)

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Payments Due on Holidays. If any payment due on, or with respect to, any Note shall fall due on a day other than a Business Day, then such payment shall be made on the first Business Day following the day on which such payment shall have so fallen due; provided that if all or any portion of such payment shall consist of a payment of interest, for purposes of calculating such interest, such payment shall be deemed to have been originally due on such first following Business Day, and such interest shall accrue and be payable to (but not including) the actual date of payment, and the 77 amount of the next succeeding interest payment shall be adjusted accordingly.

Appears in 1 contract

Samples: Note Purchase Agreement (Birmingham Steel Corp)

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