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 or a Sinking Fund Payment on or the principal of any Bond or the date fixed for redemption of any Bond shall not be a Business Day, then payment of interest on or principal or Redemption Price of such Bond shall 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 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 or a Sinking Fund Payment on or the principal of any Bond Bond, or the date fixed for redemption of any Bond Bond, shall not be a Business Day, then payment of the interest on or the principal or Redemption Price of such Bond shall 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 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 or a Sinking Fund Payment on or the principal of any Bond the Bonds or the date fixed for redemption of any Bond Bonds shall not be any day other than a Business Day, then payment of interest or 118 125 principal need not be made on or principal or Redemption Price of such Bond shall 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, 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 or a Sinking Fund Payment on or the principal of any Bond the Bonds or the date fixed for redemption of any Bond shall not be a Business DaySaturday, a Sunday or a legal holiday or a day on which banking institutions are authorized by law to close in the State, then payment of interest on or principal or Redemption Price of such Bond shall 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 shall accrue for the period after such date.

Payments Due on Saturdays, Sundays and Holidays. In any case where the date of maturity fixed for payment of interest or a Sinking Fund Payment premium on or the principal of any Bond the Bonds or the date fixed for redemption of any Bond Bonds shall not be a Business Day, then payment of interest on such interest, premium or principal or Redemption Price of need not be made on such Bond shall date but may be made on the next succeeding Business Day with the same force and effect as if made on the such date of maturity or the date fixed for such redemption, and no interest shall accrue for as the period after such date.case may be. [End of Article V]

Payments Due on Saturdays, Sundays and Holidays. In any case where the date of maturity of interest or a Sinking Fund Payment on or the principal of any Bond the Bonds or the date fixed for redemption of any Bond Bonds shall not be any day 118 124 other than a Business Day, then payment of interest on or principal or Redemption Price of need not be made on such Bond shall 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, redemption and no interest on such payment shall accrue for the period after such date.