Modified Following definition

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.

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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.

Examples of Modified Following 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.
Day Count Convention: Actual/360 Business Day Convention: Modified Following Business Day Listing: Yes; Nordic ABM Special Conditions: NA.
Following, Unadjusted during the Fixed Rate Period Modified Following, Adjusted during the Floating Rate Period Expected Listing: New York Stock Exchange Prohibition of Sales to each Retail Investor: No PRIIPs key information document (KID) has been prepared as not available to retail in the EEA or the United Kingdom.
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.
In the event that any relevant date upon which a payment is due and payable under this Note or which affects any interest rate option of the Borrower shall fall on a date which is not a Banking Day, then any such relevant date may be extended by the Lender in accordance with the Modified Following Banking Day Convention and interest shall continue to accrue, and the relevant due dates shall also be extended, for the period of that extension at the interest rate or rates then in effect.
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.
Business Day Convention: Modified Following, Adjusted Expected Listing: New York Stock Exchange Prohibition of Sales to each Retail Investor: No PRIIPs key information document (KID) has been prepared as not available to retail in the EEA or the United Kingdom.

More Definitions of Modified Following

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;

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.

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 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