Following Business Day definition

Following Business Day means, for any relevant date other than the maturity, if such date would otherwise fall on a day that is not a Business Day, then such date will be postponed to the next day that is a Business Day;
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Following Business Day means that, when this term is used in conjunction with the term "Business Day Convention", an adjustment will be made if that date falls on a day that is not a Business Day so that this date is the first following Business Day thereafter;
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Following Business Day. ("Next Business Day"). "Business Day" shall mean any day on which the New York Stock Exchange ("NYSE") is open for trading and on which the Series calculates the net asset values of each class of shares of each Fund pursuant to the rules of the Commission. The Series will make the shares of each class of each Fund available indefinitely for purchase at the applicable net asset value per share by Company and its Accounts on those days on which the Series calculates the net asset values of each such class pursuant to the rules of the Commission, and the Series shall use its best efforts to calculate such net asset values on each day on which the NYSE is open for trading. The Series shall make the net asset value per share for each class of each Fund available to Company on a daily basis as soon as reasonably practical after the Series calculates such net asset values per share, and the Series shall use its best efforts to make such net asset values per share available by 6:30 p.m. Eastern time. If the Series provides incorrect net asset values to Company with respect to any class of shares of any Fund on any Business Day, Company shall be entitled (on behalf of each affected Account) to an adjustment to the number of shares purchased or redeemed of such class of shares to reflect the correct net asset value per share. Any error in the calculation or reporting of net asset values per share, dividends, or capital gain information shall be reported promptly to Company. Any costs incurred by Company with respect to correcting Contract owner accounts, including, but not limited to, amounts paid to Contract owners and administrative expenses, shall be promptly reimbursed by CRMC. The Series and CRMC are responsible for maintaining net asset values for each class of each Fund in accordance with the requirements of the 1940 Act and the Series' then current Prospectus. Payments for shares purchased will be made in federal funds transmitted by wire on the Next Business Day, and Company and the Fund shall each use commercially reasonable efforts to wire (or cause to be wired) funds to the other, for the purpose of settling net purchase orders or orders of redemption, by 3:00 p.m. Eastern time on the Next Business Day. The Series reserves the right to temporarily suspend sales if the Board of Trustees of the Series deems it appropriate and in the best interests of the Series or in response to the order of an appropriate regulatory authority. Company reserves the right t...
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Examples of Following Business Day in a sentence

  • Each calculation period subject to adjustment in accordance with the Modified Following Business Day Convention.

  • 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.

  • By: --------------------------------- Name: ------------------------------- Title: ------------------------------ SCHEDULE I All dates subject to adjustment in accordance with the Modified Following Business Day Convention.

  • For the purposes herein, the term Following Business Day Convention shall mean that an adjustment will be made if any relevant date 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.

  • Day Count Convention: Actual/360 Business Day Convention: Modified Following Business Day Listing: Yes; Nordic ABM Special Conditions: NA.

  • With respect to the Fixed Rate Payer Calculation Periods, the dates in the above schedule will be subject to No Adjustment in accordance with the Modified Following Business Day Convention.

  • If, as a result thereof, the payment is to be effected on a day in the succeeding calendar month, then the payment shall be made on the last Business Day of the preceding calendar month (“Modified Following Business Day Convention”).

  • Business Day Convention: Unless otherwise specified in this Agreement, Following Business Day Convention.

  • By: --------------------------------- Name: ------------------------------- Title: ------------------------------ SCHEDULE I (all such dates are subject to adjustment in accordance with the Modified Following Business Day Convention).

  • Business Day Convention: Unless otherwise specified in this Agreement, Modified Following Business Day Convention.