Common use of Payments Due on Saturdays, Sundays and Holidays Clause in Contracts

Payments Due on Saturdays, Sundays and Holidays. In any case where the date of maturity of interest on or principal of the Bonds or the date fixed for redemption of any Bonds shall be a Saturday, Sunday, or, in the city of payment, a legal holiday or a day on which banking institutions are authorized by law to close, then payment of principal of, redemption premium, if any, and interest 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, and no interest on such payment shall accrue for the period after such date.

Payments Due on Saturdays, Sundays and Holidays. In any case where the date of maturity of interest on or principal of the Bonds or the date fixed for redemption of any Bonds shall be a Saturday, Sunday, or, in the city of paymentpayment a Saturday, Sunday or a legal holiday or a day on which banking institutions are authorized by law to close, then payment of interest or principal of, redemption and premium, if any, and interest 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, and no interest on such payment shall accrue for the period after such date.

Payments Due on Saturdays, Sundays and Holidays. In any case where the date of maturity of interest on or principal of the Bonds or the date fixed for redemption of any Bonds shall be a Saturday, Sunday, or, or in the city of payment, a legal holiday or a day on which banking institutions are authorized by law to close, then payment of principal of, redemption premium, if any, and interest 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, and no interest on such payment shall accrue for the period after such date.

Payments Due on Saturdays, Sundays and Holidays. In any case where the date of maturity of interest on or principal of the Bonds or the date fixed for redemption of any Bonds shall be a Saturday, Sunday, or, or in the city of payment, a legal holiday or a day on which banking institutions are authorized by law to close, then payment of interest or principal of, and redemption premium, if any, and interest 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, and no interest on such payment shall accrue for the period after such date.

Payments Due on Saturdays, Sundays and Holidays. In If any case where the Bond Payment Date or date of maturity of interest on or the principal of the Bonds or the date fixed for redemption of any Bonds shall be is a Saturday, Sunday, or, in the city of payment, a legal holiday Sunday or a day on which banking institutions the Purchaser and Custodian are required or authorized by law (including without limitation, executive orders) to closeclose and is closed, then payment of interest or principal of, redemption premium, if any, and interest need not be made to the Purchaser on such date but that date, that payment may be made on the next succeeding Business Day on which the Purchaser and the Custodian are open for business day with the same force and effect as if that payment were made on the Bond Payment Date or date of maturity or the date fixed for redemption, and no interest on such payment shall accrue for the period after such that date.

Payments Due on Saturdays, Sundays and Holidays. In any case where the date of maturity of interest on or principal of the Bonds or the date fixed for redemption of any Bonds shall be a Saturday, Sunday, or, in the city of payment, Saturday or Sunday or a legal holiday or a day on which banking institutions in the municipality of payment are authorized by law to close, then payment of interest or principal of, redemption premium, if any, and interest or Redemption Price 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, and no interest on such payment shall accrue for the period after such date.