Following unadjusted business day convention means, for any interest payment date, other than the maturity, that falls on a day that is not a business day, any payment due on such interest payment date will be postponed to the next day that is a business day; provided that interest due with respect to such interest payment date shall not accrue from and including such interest payment date to and including the date of payment of such interest as so postponed.
Examples of Following unadjusted business day convention in a sentence
Actual/360, with respect to the floating rateperiod.Business Day: Following unadjusted business day convention, with respect to the fixed rate period.Modified following unadjusted business day convention, with respect to the floating rateperiod.