Valid Payment Date definition
Valid Payment Date means any day other than a Saturday, a Sunday or a day on which banking institutions in the place of payment are authorized or required by law or executive order to close or be closed.
Valid Payment Date means, with respect to any Note, any day other than a Saturday, a Sunday or a day on which banking institutions in the state in which the Corporate Trust Office is located are authorized or required by law or executive order to close or be closed.
Valid Payment Date means any day other than a Saturday, a Sunday or a day on which banking institutions in the applicable place of payment are authorized or required by law or executive order to close or be closed.
Examples of Valid Payment Date in a sentence
In any case where any Special Interest Payment Date, any Redemption Date, any Fundamental Change Repurchase Date or the Maturity Date is not a Business Day or is not a Valid Payment Date, then any action to be taken on such date need not be taken on such date, but may be taken on the next succeeding Business Day that is a Valid Payment Date with the same force and effect as if taken on such date, and no interest shall accrue on any such payment in respect of the delay.