Modified Following means if the relevant day is not a Fund Business Day such day shall be postponed to the next day which is a Fund Business Day unless it would thereby fall into the next calendar month, in which event such day shall be brought forward to the immediately preceding Fund Business Day; and
Modified Following means the convention for adjusting any relevant date (e.g. a Payment Date) if it would otherwise fall on a day that is not a Business day. It is specified that this date will be the first following day that is a Business Day unless that day falls in the next calendar month, in which case the date will be the first preceding day that is a Business Day.
Modified Following has the meaning given in Section 4.12 of BUSINESS DAY the 2000 ISDA Definitions published by CONVENTION" the International Swaps and Derivatives Association, Inc;
Examples of Modified Following in a sentence
If any date except the date of allotment, falls on a public holiday, the Modified Following Business Day convention shall be considered.
Trade Date:28 May 2015.Effective Date:21 February 2015, subject to adjustment in accordance with the Modified Following Business Day Convention.Termination Date:21 February 2063, subject to adjustment in accordance with the Modified Following Business Day Convention.
Each calculation period subject to adjustment in accordance with the Modified Following Business Day Convention.
Floating Amounts (2) Floating Amount Payer (2):Party BFloating Amounts (2):See Schedule AFloating Amount Payer (2) Payment Dates:See Schedule A, subject to adjustment in accordance with the Modified Following Business Day Convention, with No Adjustment to Period End DatesIndex:GBP - Non-revised Retail Price Index (UKRPI).Index (2) Final:The Index level for the Reference Month that is three months preceding the respective Floating Amount Payer(2) Payment Date.
If any payment is due on a day which is not a Business Day, the due date will be adjusted in accordance with the Modified Following Business Day Convention.
More Definitions of Modified Following
Modified Following means that such 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. Unless otherwise defined in the Product Terms and Conditions, the default business day con- vention is “Modified Following”. ”Conditional Coupon Observation Date” is the date as specified in the Product Terms and Con- ditions, subject to the applicable terms and conditions regarding market disruption. If such date is not a Fixing Business Day the next succeeding Fixing Business Day shall be the Condi- tional Coupon Observation Date.
Modified Following means that such 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. Unless otherwise defined in the Product Terms and Conditions, the default business day convention is “Modified Following”. „Conditional Coupon Observation Date” is the date as specified in the Product Terms and Condi- tions, subject to the applicable terms and conditions regarding market disruption. If such date is not a Fixing Business Day the next succeeding Fixing Business Day shall be the Conditional Coupon Ob- servation Date. „Day Count Fraction” means, in respect of the calculation of an amount for any period of time (each such period an „Interest Period”), such day count fraction as may be specified in the Product Terms and Conditions and: i. if „Actual/Actual” or „Actual/Actual (ISDA)” is so specified, means the actual number of days in the Interest Period divided by 365 (or, if any portion of the Interest Period falls in a leap year, the sum of (a) the actual number of days in that portion of the Interest Period fall- ing in a leap year divided by 366 and (b) the actual number of days in that portion of the In- terest Period falling in a non-leap year divided by 365);ii. if „Actual/365 (Fixed)” is so specified, means the actual number of days in the Interest Peri- od divided by 365;
Modified Following is specified in Part A hereof as the applicable Business Day Convention and a date on which a Payment Date is due to fall is not a Business Day then such Payment Date will be the next following day that is a Business Day unless that day falls in the next calendar month, in which case that Payment Date will be the first preceding day that is a Business Day.
Modified Following means if the relevant day is not a Fund Business Day or, as applicable, Basket Business Day such day shall be postponed to the next day which is a Fund Business Day or, as applicable, Basket Business Day unless it would thereby fall into the next calendar month, in which event such day shall be brought forward to the immediately preceding Fund Business Day or, as applicable, Basket Business Day; and
Modified Following means that such 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.
Modified Following is specified, that date will be 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.
Modified Following is specified in Part A hereof as the applicable Business Day Convention and a date on which a Payment Date is due to fall is not a Business Day then such Payment Date will be the next following day that is a Business Day unless that day falls in the next calendar month, in which case that Payment Date will be the first preceding day that is a Business Day. "Business Day" shall mean (i) if "London" is specified in Part A as the applicable Business Day, any day on which commercial banks are open for general business in London, and (ii) if "TARGET" is specified in Part A as the applicable Business Day, any day on which TARGET (the Trans-European Automated Real-time Gross Settlement Express Transfer system) is open.