Common use of Payments on Business Days Clause in Contracts

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 46 contracts

Sources: Indenture (1st Source Capital Trust Ii), Indenture (Heartland Financial Capital Trust I), Indenture (Ifc Capital Trust Ii)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.4) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 21 contracts

Sources: Indenture (CNB Holdings Inc /Ga/), Indenture (Bankunited Capital Ii), Indenture (Pennfirst Capital Trust I)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.5(b)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 15 contracts

Sources: Indenture (S.Y. Bancorp Capital Trust II), Indenture (S Y Bancorp Inc), Indenture (S Y Bancorp Inc)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.5) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 12 contracts

Sources: Indenture (Southwest Bancorp Inc), Indenture (Ifc Capital Trust I), Indenture (Matrix Bancorp Capital Trust I)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.5(c)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 7 contracts

Sources: Indenture (San Rafael Bancorp), Indenture (Florida Banks Inc), Indenture (United Bancorporation of Alabama Inc)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.4(b)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 3 contracts

Sources: Indenture (First Busey Statutory Trust V), Indenture (Mb Financial Capital Trust I), Indenture (Mb Financial Inc /Md)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date, except that if such next succeeding Business Day falls in the next succeeding calendar year, then such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.

Appears in 3 contracts

Sources: Indenture (First Merchants Capital Trust I), Indenture (First Merchants Corp), Indenture (First Merchants Corp)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture Security or the date of redemption of any Debenture Security shall not be a Business Day, then payment of principal, premium, if any, or interest or principal and premium, if any, may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 3 contracts

Sources: Indenture (Mallinckrodt PLC), Indenture (Mallinckrodt PLC), Indenture (Covidien PLC)

Payments on Business Days. In any case where the date of maturity Maturity of interest or principal of any Debenture Note or the date of redemption of any Debenture Note shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity Maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 2 contracts

Sources: Indenture (International Flavors & Fragrances Inc), Indenture (Nutrition & Biosciences, Inc.)

Payments on Business Days. In any case where the date of ------------------------- maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.4(b)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 2 contracts

Sources: Indenture (Abc Bancorp Capital Trust I), Indenture (Abc Bancorp Capital Trust I)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture of the Notes or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 2 contracts

Sources: Indenture (RLJ Lodging Trust), Indenture (RLJ Lodging Trust)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture Security or the date of redemption of any Debenture Security shall not be a Business Day, then payment of interest (and Additional Interest, if any) or principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest or Additional Interest, if any, shall accrue for the period after such nominal date.

Appears in 1 contract

Sources: Indenture (Freeport McMoran Copper & Gold Inc)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture Note or the date of redemption of any Debenture Note shall not be a Business Day, then payment of interest or principal principal, and premium, if any, may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 1 contract

Sources: Indenture (Metlife Inc)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture Security or the date of redemption of any Debenture Security shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 1 contract

Sources: Indenture (Pikeville National Corp)

Payments on Business Days. In any case where the date Maturity Date of maturity principal or Interest Payment Date of interest or principal of any Debenture the Debentures or the date Redemption Date of redemption of any Debenture the Debentures shall not be a Business Day, then payment of principal or interest or principal may of the Debentures shall be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 1 contract

Sources: Debenture Purchase Agreement (3d Systems Corp)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption or conversion of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.5(b)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 1 contract

Sources: Indenture (Tompkins Financial Corp)

Payments on Business Days. In any case where the date of maturity of interest or interest, principal of any Debenture the Debentures or the date of redemption of any Debenture thereof shall not be a Business Day, then payment of interest or interest, principal may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue with respect to such payment for the period after such nominal date.. 76

Appears in 1 contract

Sources: Indenture (Crown Media Holdings Inc)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to SECTION 2.4) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 1 contract

Sources: Indenture (Southside Capital Trust I)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.4) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.if

Appears in 1 contract

Sources: Indenture (Apab Capital Trust I)

Payments on Business Days. In any case where the date of maturity of interest or principal (and premium, if any) of any Debenture Security or the date of redemption of any Debenture Security shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal datedate to such next succeeding Business Day.

Appears in 1 contract

Sources: Indenture (Ncbe Capital Trust I)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.4(b)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.. 51NEXT PAGE

Appears in 1 contract

Sources: Indenture (Itla Capital Corp)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.5(c)) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

Appears in 1 contract

Sources: Indenture (Alabama National Bancorporation)

Payments on Business Days. In any case where the date of maturity of interest or principal of any Debenture or the date of redemption of any Debenture shall not be a Business Day, then payment of interest or principal may (subject to Section 2.5) be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.. 42 50

Appears in 1 contract

Sources: Indenture (First Banks Inc)