Common use of Payments on Business Days Clause in Contracts

Payments on Business Days. In any case in which the date of payment to Lender or the expiration of any time period hereunder occurs on a day which is not a Business Day, then such payment or expiration of such time period need not occur on such date but may be made on the next succeeding Business Day with the same force and effect as if made on the day of maturity or expiration of such period, except that interest shall continue to accrue for the period after such date to the next Business Day.

Appears in 20 contracts

Samples: Master Credit Facility Agreement (Education Realty Trust, Inc.), Master Credit Facility Agreement (Mid America Apartment Communities Inc), Master Credit Facility Agreement (Emeritus Corp\wa\)

AutoNDA by SimpleDocs

Payments on Business Days. In any case in which the date of payment to the Lender or the expiration of any time period hereunder occurs on a day which is not a Business Day, then such payment or expiration of such time period need not occur on such date but may be made on the next succeeding Business Day with the same force and effect as if made on the day of maturity or expiration of such period, except that interest shall continue to accrue for the period after such date to the next Business Day.

Appears in 15 contracts

Samples: Master Credit Facility Agreement (United Dominion Realty Trust Inc), Master Credit Facility Agreement (United Dominion Realty Trust Inc), Master Credit Facility Agreement (Mid America Apartment Communities Inc)

Payments on Business Days. In any case in which the date of ------------------------- payment to the Lender or the expiration of any time period hereunder occurs on a day which is not a Business Day, then such payment or expiration of such time period need not occur on such date but may be made on the next succeeding Business Day with the same force and effect as if made on the day of maturity or expiration of such period, except that interest shall continue to accrue for the period after such date to the next Business Day.

Appears in 2 contracts

Samples: Credit Facility Agreement (United Dominion Realty Trust Inc), Agreement (United Dominion Realty Trust Inc)

Payments on Business Days. In any case in which the date of payment to Lender or the expiration of any time period hereunder occurs on a day which is not a Business Day, then then, unless expressly otherwise provided, such payment or expiration of such time period need not occur on such date but may be made on the next succeeding Business Day with the same force and effect as if made on the day of maturity or expiration of such period, except that interest shall continue to accrue for the period after such date to the next Business Day.

Appears in 2 contracts

Samples: Master Credit Facility Agreement (Archstone Inc.), Master Credit Facility Agreement (Archstone Smith Operating Trust)

Payments on Business Days. In any case in which where the due date of any payment to Lender or the expiration of any time period hereunder occurs falls on a day which is not a Business Day, then such payment or expiration of will be due on, and such time period need not occur on such date but may be made on will expire on, the next succeeding Business Day with the same force and effect as if made on the day of maturity or expiration of such periodDay, except that interest interest, if any, and fees shall continue to accrue for the period after such stated date to the next Business Day.

Appears in 1 contract

Samples: Master Reimbursement Agreement (Mid America Apartment Communities Inc)

AutoNDA by SimpleDocs

Payments on Business Days. In any case in which the date ------------------------- of payment to the Lender or the expiration of any time period hereunder occurs on a day which is not a Business Day, then such payment or expiration of such time period need not occur on such date but may be made on the next succeeding Business Day with the same force and effect as if made on the day of maturity or expiration of such period, except that interest shall continue to accrue for the period after such date to the next Business Day.

Appears in 1 contract

Samples: Master Credit Facility Agreement (Town & Country Trust)

Payments on Business Days. In any case in which the date of payment to the Lender or the expiration of any 119 time period hereunder occurs on a day which is not a Business Day, then such payment or expiration of such time period need not occur on such date but may be made on the next succeeding Business Day with the same force and effect as if made on the day of maturity or expiration of such period, except that interest shall continue to accrue for the period after such date to the next Business Day.

Appears in 1 contract

Samples: Master Credit Facility Agreement (Town & Country Trust)

Time is Money Join Law Insider Premium to draft better contracts faster.