Common use of Business Day Convention Clause in Contracts

Business Day Convention. If any date referred to in these Conditions that is specified to be subject to adjustment in accordance with a Business Day Convention would otherwise fall on a day which is not a Business Day, then, if the Business Day Convention specified is (i) the Floating Rate Business Day Convention, such date shall be postponed to the next day that is a Business Day unless it would thereby fall into the next calendar month, in which event (a) such date shall be brought forward to the immediately preceding Interest Business Day and (b) each subsequent such date shall be the last Interest Business Day of the month in which such date would have fallen had it not been subject to adjustment, (ii) the Following Business Day Convention, such date shall be postponed to the next day which is an Interest Business Day, (iii) the Modified Following Business Day Convention, such date shall be postponed to the next day which is an Interest Business Day unless it would thereby fall into the next calendar month, in which event such date shall be brought forward to the immediately preceding Interest Business Day or (iv) the Preceding Business Day Convention, such date shall be brought forward to the immediately preceding Interest Business Day.

Business Day Convention. If any date referred to in these Conditions that is specified to be subject to adjustment in accordance with a Business Day Convention would otherwise fall on a day which is not a Business Day, then, if the Business Day Convention specified is (i) the Floating Rate Business Day Convention, such date shall be postponed to the next day that is a Business Day unless it would thereby fall into the next calendar month, in which event event (aA) such date shall be brought forward to the immediately preceding Interest Business Day and (bB) each subsequent such date shall be the last Interest Business Day of the month in which such date would have fallen had it not been subject to adjustment, (ii) the Following Business Day Convention, such date shall be postponed to the next day which is an Interest a Business Day, (iii) the Modified Following Business Day Convention, such date shall be postponed to the next day which is an Interest a Business Day unless it would thereby fall into the next calendar month, in which event such date shall be brought forward to the immediately preceding Interest Business Day or (iv) the Preceding Business Day Convention, such date shall be brought forward to the immediately preceding Interest Business Day.

Business Day Convention. If any date referred to in these Conditions that is specified to be subject to adjustment in accordance with a Business Day Convention would otherwise fall on a day which is not a Business Day, then, if the Business Day Convention specified is (i) the Floating Rate Business Day Convention, such date shall be postponed to the next day that is a Business Day unless it would thereby fall into the next calendar month, in which event event (a) such date shall be brought forward to the immediately preceding Interest Business Day and (b) each subsequent such date shall be the last Interest Business Day of the month in which such date would have fallen had it not been subject to adjustment, (ii) the Following Business Day Convention, such date shall be postponed to the next day which is an Interest Business Day, (iii) the Modified Following Business Day Convention, such date shall be postponed to the next day which is an Interest Business Day unless it would thereby fall into the next calendar month, in which event such date shall be brought forward to the immediately preceding Interest Business Day or (iv) the Preceding Business Day Convention, such date shall be brought forward to the immediately preceding Interest Business Day.