Modified Following Business Day Convention Sample Clauses

Modified Following Business Day Convention if “Modified Following Business Day Convention” is specified, the date will be the next day that is a Business Day unless it would thereby fall into the next calendar month, in which event such date will be the immediately preceding Business Day in each of the specified Business Day Jurisdictions; or
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Modified Following Business Day Convention. The Modified Following Business Day Convention shall mean the convention for adjusting any relevant date if it would otherwise fall on a day that is not a Business Day. The following terms, when used in conjunction with the term, "Modified Following Business Day Convention," and a date, shall mean that an adjustment will be made if that 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.
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Modified Following Business Day Convention. The term "Modified Following Business Day Convention" means the convention for adjusting any relevant date if it would not otherwise fall on a day that is not a Business Day. All dates specified for payments to be made under this Agreement shall be subject to the Modified Following Business Day Convention. The following terms, when used in conjunction with the term "Modified Following Business Day Convention" and a date shall mean that an adjustment will be made if that 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; provided that, in connection with determining the last day of an Interest Period for a LIBOR Loan, if the first following day that is a Business Day falls in the next succeeding calendar month, then an adjustment will be made so that the date will be the next preceding Business Day. A "Business Day" means, in respect of any date that is specified in this Agreement to be subject to adjustment in accordance with applicable Business Day Convention, a day on which commercial banks settle payments in New York or, if the payment obligation is calculated with reference to the LIBOR Rate, in London.
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Modified Following Business Day Convention. The term “Modified Following Business Day Convention” means the convention for adjusting any relevant date if it would not otherwise fall on a day that is not a Business Day. All dates specified for payments to be made under this Agreement shall be subject to the Modified Following Business Day Convention. The following terms, when used in conjunction with the term “Modified Following Business Day Convention” and a date shall mean that an adjustment will be made if that 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. A “Business Day” means, in respect of any date that is specified in this Agreement to be subject to adjustment in accordance with applicable Business Day Convention, a day on which commercial Lenders settle payments in New York City, NY.
Sample 1
Modified Following Business Day Convention. In the event that any payment due date or any other relevant date should fall on a day that is not a Business Day, then an adjustment shall be made so that such date shall be the first following day that is a Business Day.
Sample 1
Modified Following Business Day Convention. Payment Business Day means a day (other than a Saturday or a Sunday) which is a Business Day on which commercial banks and foreign exchange markets settle payments and are open for general business (including dealings in foreign exchange and foreign currency deposits) in [insert all relevant financial centres]] and TARGET is open. If the due date for a payment of interest is brought forward or postponed (as described above), the amount of interest shall not be adjusted accordingly. If the due date for the redemption of the nominal amount of the Loan is adjusted the Lender shall not be entitled to payments in respect of such adjustment.
Sample 1

Related to Modified Following Business Day Convention

  • Business Day Convention If the date on which any payment is due to be made under this Agreement shall occur on a day on which is not a Business Day, such payment shall be made in accordance with the Business Day Convention as specified in the Notes or the Indenture.

  • Day count convention Any interest, commission or fee accruing under a Finance Document will accrue from day to day and is calculated on the basis of the actual number of days elapsed and a year of 360 days or, in any case where the practice in the Relevant Interbank Market differs, in accordance with that market practice.

  • Definition of Business Day For purposes of this Agreement, “Business Day” means any day on which the Nasdaq Global Select Market is open for trading.

  • Business Day Adjustment If the day by which a payment is due to be made is not a Business Day, that payment shall be made by the next succeeding Business Day unless that next succeeding Business Day falls in a different calendar month, in which case that payment shall be made by the Business Day immediately preceding the day by which such payment is due to be made.

  • Alternative rate of interest in absence of agreement If an alternative interest rate or alternative basis is not agreed within the Negotiation Period, and the relevant circumstances are continuing at the end of the Negotiation Period, then the Agent shall, with the agreement of each Lender or (as the case may be) the Affected Lender, set an interest period and interest rate representing the cost of funding of the Lenders or (as the case may be) the Affected Lender in Dollars or in any available currency of their or its Contribution plus the Margin; and the procedure provided for by this Clause 5.12 shall be repeated if the relevant circumstances are continuing at the end of the interest period so set by the Agent.

  • Application of agreed alternative rate of interest Any alternative interest rate or an alternative basis which is agreed during the Negotiation Period shall take effect in accordance with the terms agreed.

  • Non-Business Day Payments Whenever any payment shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or fees, as the case may be; provided, however, that if such extension would cause payment of interest on or principal of Eurodollar Rate Advances to be made in the next following calendar month, such payment shall be made on the next preceding Business Day.

  • Payment on non-Business Day If any payment by the Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:

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