Payment on the Maturity Date. The Issuer will pay to the Issuing and Paying Agent by wire transfer in immediately available funds the principal of, and premium, if any, and interest on, the Notes then outstanding on the Maturity Date only upon presentation and surrender thereof to the Issuing and Paying Agent. Interest payable on any Note on the Maturity Date will be payable to the Registered Holder. If the Maturity Date for any Note falls on a day that is not a Business Day, the related payment of principal, premium, if any, and/or interest shall be made on the next succeeding Business Day as if it were made on the date such payment was due, and no interest shall accrue on the amount so payable for the period from and after such Maturity Date. The Issuing and Paying Agent will forthwith cancel each such Note pursuant to Section 21 hereof.
Appears in 2 contracts
Sources: Issuing and Paying Agency Agreement (Univest Corp of Pennsylvania), Issuing and Paying Agency Agreement (Univest Corp of Pennsylvania)