Quarter Days


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Quarter Days

Various
The four traditional quarter days in England, Northern Ireland, and Wales are Lady Day (March 15), Midsummer Day (June 24), Michaelmas (September 29), and Christmas Day (December 25). They mark off the four quarters of the year and the times at which rents and other payments are due. It was also customary to move into or out of a house on a quarter day.
In Scotland the quarter days are Candlemas (February 2), Pentecost (or Whitsunday, the seventh Sunday after Easter), Lammas (August 1), and Martinmas (November 11).
See also Cross-Quarter Days
SOURCES:
DictDays-1988, pp. 18, 66, 73, 75, 93, 131
DictFolkMyth-1984, p. 601
FestSaintDays-1915, pp. 163, 166, 204
OxYear-1999, pp. 521, 588
RelHolCal-2004, p. 268
(c)
References in periodicals archive ?
Mr Emmerson, pictured, said: "While some retailers have moved to monthly payments, the quarter day still remains a hurdle for many companies' cash flow.
As well as the added pressure of a large rent payment, Rent Quarter Days often see a spike in retail insolvencies because retailers will delay insolvency procedures until after rent is due, thanks to the complex rules on 'administration costs' that have developed in recent years.
QUARTER Day reform could help the struggling retail sector, according to the chair of insolvency trade body R3 in the North East.
THIS Thursday is the Autumn Equinox (also known as Mabon and the Harvest festival), one of the quarter days of the year, a Lesser Festival celebrated by witches, pagans and many others who follow a spiritual path.
The issue of 7 1/2% convertible debentures with interest payable on usual quarter days and convertible into common shares at investors option after two years at the greater of 75% of the average closing price for the ten trading days prior to the conversion or the market price per share at the time of closing.
The quarterly rent payments that traditionally fall in March, June, September and December represent a significant outgoing for struggling firms in the present climate, with the equivalent Quarter Day in 2011 seeing the largest wave of retail administrations since the height of the recession Well-known names such as Habitat, Zavvi, Whittard and The Officers Club have fallen into administration in the run-up to or period immediately following Quarter Days over the last couple of years, as the pressure to meet property rental payments has finally proved too much for their finances, and addressing rental costs remain a central issue in the ongoing retail administrations today.
Where tenants have previously been able to negotiate break clauses in their leases, the trigger dates for serving notices are typically on the traditional quarter days - of which Christmas Day is one.
Interest will be payable on the usual quarter days.
In the overwhelming majority of leases of commercial premises, the rent is paid by four equal quarterly instalments in advance, and most rent payment days are the usual quarter days.