Modified Following definition

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 BUSINESS DAY 4.12 of the 2000 ISDA Definitions CONVENTION" published by the International Swaps and Derivatives Association, Inc;

Examples of Modified Following in a sentence

  • Business Day Convention: Modified Following which, subject to Sections 1.14, 1.39, 2.2(k), 3.33(a) and 12.10 of the Credit Derivatives Definitions, shall apply to any date referred to in this Applicable Pricing Supplement that fall on a day that is not a Business Day.

  • Business Day Convention: Modified Following, subject to adjustment for Unscheduled Business Day Holiday.

  • Interest Payment Dates: Each date specified in Column A of Annex 1 hereto, subject in each case to adjustment in accordance with the Modified Following Business Day Convention for which purpose the Relevant Business Days is TARGET Settlement Days without adjustment of interest payable.

  • 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.

  • If any date except the date of allotment, falls on a public holiday, the Modified Following Business Day convention shall be considered.

  • Other terms relating to the method of calculation of interest for Fixed Rate Securities: Business Day Convention: 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.

  • Business Day Convention: Modified Following Business Day Convention.

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

  • Business Day Convention: Modified Following, with no adjustment to interest payable.


More Definitions of Modified Following

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 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 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 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 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;

Related to Modified Following

  • 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;

  • Modified EDFR means a reference rate equal to the EDFR plus the EDFR Spread;

  • Modified Restructuring Maturity Limitation Date means with respect to a Reference Obligation, the date that is the later of (x) the Scheduled Maturity Date of the Notes and (y) 60 months following the Restructuring Date in the case of a Restructured Bond or Loan, or 30 months following the Restructuring Date in the case of all other Reference Obligations.

  • SOFR Adjustment Conforming Changes means, with respect to any SOFR Rate, any technical, administrative or operational changes (including changes to the interest period, timing and frequency of determining rates and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Administrator decides, from time to time, may be appropriate to adjust such SOFR Rate in a manner substantially consistent with or conforming to market practice (or, if the Administrator decides that adoption of any portion of such market practice is not administratively feasible or if the Administrator determines that no market practice exists, in such other manner as the Administrator determines is reasonably necessary).

  • Amendment No. 1 Effective Date has the meaning specified in Amendment No. 1.

  • Modified Version of the Document means any work containing the Document or a portion of it, either copied verbatim, or with modifications and/or translated into another language.

  • Amendment No. 3 Effective Date has the meaning specified in Amendment No. 3.

  • LIBOR Successor Rate Conforming Changes means, with respect to any proposed LIBOR Successor Rate, any conforming changes to the definition of Base Rate, Interest Period, timing and frequency of determining rates and making payments of interest and other technical, administrative or operational matters as may be appropriate, in the discretion of the Administrative Agent, to reflect the adoption and implementation of such LIBOR Successor Rate and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration as the Administrative Agent determines is reasonably necessary in connection with the administration of this Agreement).

  • (1) DEFINITION.—In this subsection, the term covered member’ means—

  • SBI 1 Year MCLR Rate means 1 year Marginal Cost of Funds Based Lending Rate (MCLR) fixed by State Bank of India (SBI) / any replacement thereof by SBI for the time being in effect applicable for 1 year period, as on 1st April of the respective financial year in accordance with regulations and guidelines of Reserve Bank of India. In absence of such rate, any other arrangement that substitutes such rate as mutually agreed to by the Parties.

  • Successor Rate Conforming Changes means, with respect to any proposed Successor Rate, any spread adjustments or other conforming changes to the timing and frequency of determining rates and making payments of interest and other administrative matters as may be appropriate, in the discretion of Buyer, to reflect the adoption of such Successor Rate and to permit the administration thereof by Buyer in a manner substantially consistent with market practice.

  • Conforming Changes means, with respect to either the use or administration of Term SOFR or the use, administration, adoption or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “U.S. Government Securities Business Day,” the definition of “Interest Period” or any similar or analogous definition (or the addition of a concept of “interest period”), timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of Section 3.05 and other technical, administrative or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of any such rate exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

  • Amendment No. 6 Effective Date has the meaning assigned to such term in Amendment No. 6.

  • Amendment No. 2 Effective Date has the meaning specified in Amendment No. 2.

  • Amendment No. 8 Effective Date has the meaning assigned to such term in Amendment No. 8.

  • Pending Change of Control means: (i) the signing of a definitive agreement for a transaction which, if consummated, would result in a Change of Control; (ii) the commencement of a tender offer which, if successful, would result in a Change of Control; or (iii) the circulation of a proxy statement seeking proxies in opposition to management in an election contest which, if successful, would result in a Change of Control.

  • Amendment No. 5 Effective Date has the meaning assigned to such term in Amendment No. 5.

  • ESG Pricing Provisions has the meaning specified in Section 2.18.

  • Amendment No. 7 Effective Date has the meaning assigned to such term in Amendment No. 7.

  • Average monthly discharge limitation means the highest allowable average of “daily discharges” over a calendar month, calculated as the sum of all “daily discharges” measured during a calendar month divided by the number of “daily discharges” measured during that month.

  • Three-Month Secondary CD Rate means, for any day, the secondary market rate for three-month certificates of deposit reported as being in effect on such day (or, if such day is not a Business Day, the next preceding Business Day) by the Board through the public information telephone line of the Federal Reserve Bank of New York (which rate will, under the current practices of the Board, be published in Federal Reserve Statistical Release H.15(519) during the week following such day) or, if such rate is not so reported on such day or such next preceding Business Day, the average of the secondary market quotations for three-month certificates of deposit of major money center banks in New York City received at approximately 10:00 a.m., New York City time, on such day (or, if such day is not a Business Day, on the next preceding Business Day) by the Administrative Agent from three negotiable certificate of deposit dealers of recognized standing selected by it.

  • Amendment No. 4 Effective Date has the meaning assigned to such term in Amendment No. 4.

  • Original Accrual Rate With respect to each Payment Date and any Reference Obligation, the lesser of (i) the related Accounting Net Yield as of the Cut-off Date; and (ii) the related mortgage rate as of the Cut-off Date minus 0.35%.

  • Scheduled Dissolution Date means, in respect of each Series, the date specified as such in the applicable Final Terms;

  • (B) For purposes of subparagraph (A), the term ap- plicable interest rate’ means the interest rate which would be used (as of the date of the distribution) by the Pension Benefit Guaranty Corporation for purposes of determining the present value of a lump sum distribu- tion on plan termination.’’

  • (a) DEFINITION.—In this section, the term covered base closure area’ means a base closure area that, on or before the date of enactment of this Act [Jan. 2, 2013], was treated as a HUBZone for purposes of the Small Business Act (15 U.S.C. 631 et seq.) pursuant to section 152(a)(2) of the Small Business Reauthorization and Manufacturing Assistance Act of 2004 [Pub. L. 108–447] (15 U.S.C. 632 note).