Banking Day Convention definition

Banking Day Convention means the first following day that is aBanking Day;
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Banking Day Convention means the first following day that is a Banking Day unless that day falls in the next calendar month, in which case that date will be the first preceding day that is a Banking Day.
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Banking Day Convention. If any specified Payment Date is not a New York Banking Day such Payment Date will be the first following day which is a New York Banking Day. Payment Schedule: SEE ATTACHED PAYMENT SCHEDULE RECONCILING TRANSACTION 15198.00 WITH 15198.01.
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Examples of Banking Day Convention in a sentence

  • In the event that any relevant date upon which a payment is due and payable under this Note or which affects any interest rate option of the Borrower shall fall on a date which is not a Banking Day, then any such relevant date may be extended by the Lender in accordance with the Modified Following Banking Day Convention and interest shall continue to accrue, and the relevant due dates shall also be extended, for the period of that extension at the interest rate or rates then in effect.

  • Notwithstanding anything to the contrary hereinabove contained, if application of the Modified Following Banking Day Convention would cause any payment due under the terms of this Note to be due and payable in a calendar month which differs from the month in which the payment would otherwise have been due, then, at the Lender's option, the Modified Following Banking Day Convention shall not apply and such payment shall be due and payable on the immediately preceding Banking Day.

  • Notwithstanding anything to the contrary hereinabove contained, if application of the Modified Following Banking Day Convention would cause any payment due under the terms of this Note to be due and payable in a calendar month which differs from the month in which the payment would otherwise have been due, then, at the Lender’s option, the Modified Following Banking Day Convention shall not apply and such payment shall be due and payable on the immediately preceding Banking Day.

  • Exhibit 10.58 Notwithstanding anything to the contrary hereinabove contained, if application of the Modified Following Banking Day Convention would cause any payment due under the terms of this Note to be due and payable in a calendar month which differs from the month in which the payment would otherwise have been due, then, at the Lender’s option, the Modified Following Banking Day Convention shall not apply and such payment shall be due and payable on the immediately preceding Banking Day.


More Definitions of Banking Day Convention

Banking Day Convention means the convention for adjusting any relevant date if it would otherwise fall on a day that is not a Business Day so that the date will be the first following day that is a Business Day.
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Related to Banking Day Convention

  • Business Day Convention means the first following day that is a Business Day unless that day falls in the next calendar month, in which case that date will be the first preceding day that is a Business Day.

  • Applicable Business Day Convention means the “Business Day Convention” which may be specified in the Final Terms as applicable to any date in respect of the Instruments. Where the Final Terms specifies “No Adjustment” in relation to any date, such date shall not be adjusted in accordance with any Business Day Convention. Where the Final Terms fails either to specify an applicable Business Day Convention or “No Adjustment” for the purposes of an Interest Payment Date or an Interest Period End Date, then in the case of Instruments which bear interest at a fixed rate, “No Adjustment” shall be deemed to have been so specified and in the case of Instruments which bear interest at a floating rate, the Modified Following Business Day Convention shall be deemed to have been so specified. Different Business Day Conventions may apply, or be specified in relation to, the Interest Payment Dates, Interest Period End Dates and any other date or dates in respect of any Instruments.

  • Day Count Convention Fixed rate period: 30/360. Floating rate period: 360-day year and the number of days actually elapsed.

  • Preceding Business Day Convention means that the relevant date shall be brought forward to the first preceding day that is a Business Day;

  • Interest Day Count Convention means the actual number of days in the related Interest Accrual Period divided by 360.

  • Modified Following Business Day Convention means that the relevant date shall be postponed to the first following day that is a Business Day unless that day falls in the next calendar month in which case that date will be the first preceding day that is a Business Day;

  • Following Business Day Convention means that the relevant date shall be postponed to the first following day that is a Business Day;

  • Banking Day means each day (other than a Saturday or Sunday) on which the Clearing System and the Trans-European Automated Real-time Gross settlement Express Transfer-System (TARGET2) ("TARGET2") are open for business.

  • Floating Day Count Fraction means, in respect of the calculation of an amount of interest for any Interest Period:

  • LIBOR Banking Day has the meaning set forth in Section 2.10(b)(1).

  • Floating Rate Convention means that each relevant date shall be the date which numerically corresponds to the preceding such date in the calendar month which is the number of months specified in the applicable Final Terms as the Specified Period after the calendar month in which the preceding such date occurred; provided, however, that:

  • Fixed Day Count Fraction means, in respect of the calculation of an amount of interest in accordance with this Condition 4(a):

  • Banking Day Financial Centre means the Banking Day Financial Centre as specified in § 1 of the Product and Underlying Data.

  • Rate Fixing Day means the second TARGET Day before the first day of a Term or such other day as the Facility Agent determines is generally treated as the rate fixing day by market practice in the relevant interbank market.

  • Day Count Fraction means, in respect of the calculation of an amount of interest on any Note for any period of time (from and including the first day of such period to but excluding the last) (whether or not constituting an Interest Period or an Interest Accrual Period, the “Calculation Period”):

  • Eurodollar Banking Day means any Banking Day on which dealings in Dollar deposits are conducted by and among banks in the Designated Eurodollar Market.

  • New York Convention means the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards, done at New York, June 10, 1958;

  • Primary convention means the political party conventions held during the year

  • STCW Convention means the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers, 1978 of the IMO, as it applies to the matters concerned taking into account the transitional provisions of Article VII and Regulation I/15 of the Convention and including, where appropriate, the applicable provisions of the STCW Code, all being applied in their up-to-date versions;

  • RFR Banking Day means any day specified as such in the Reference Rate Terms.

  • Rate Period has the meaning set forth in the Statement.

  • Base Rate Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.

  • Hague Convention means the Convention on the Service Abroad of Judicial and Extra Judicial Documents in Civil or Commercial Matters done at the Hague on 15 November 1965;

  • Safety Convention means the International Convention for the Safety of Life at Sea, 1974 (a copy of the English text of the articles of which, and of part of the annex to which, is set forth in Schedule 4), as affected by any amendment, other than an amendment objected to by Australia, made under Article VIII of that Convention and, after the date on which the Protocol of 1978 relating to the Safety Convention enters into force for Australia, as also affected by that Protocol;

  • New York City Banking Day means any day on which commercial banks are open for general business (including dealings in foreign exchange and foreign currency deposits) in New York City;