Day Count Convention definition

Day Count Convention. Fixed rate period: 30/360. Floating rate period: 360-day year and the number of days actually elapsed.

Day Count Convention. The convention for calculation of payment of interest; a) If Fixed Rate, the interest shall be calculated on the basis of a 360- day year comprised of twelve months of 30 days each and, in case of an incomplete month, the actual number of days elapsed (30/360- days basis), unless: (i) the last day in the relevant Interest Period is the 31st calendar day but the first day of that Interest Period is a day other than the 30th or the 31st day of a month, in which case the month that includes that last day shall not be shortened to a 30–day month; or (ii) the last day of the relevant Interest Period is the last calendar day in February, in which case February shall not be lengthened to a 30-day month. b) If FRN, the interest shall be calculated on the basis of the actual number of days in the Interest Period in respect of which payment is being made divided by 360 (actual/360-days basis). Events of Default: See Clause 5 (Events of Default) Exchange: Shall have the meaning ascribed to such term in Clause 1 (Main terms of the Bonds), setting out the exchange or other recognized marketplace for securities, on which the Issuer has, or has applied for, listing of the Bonds.

Day Count Convention means, in respect of the calculation of an amount of Interest for any Interest Period, the Day Count Convention specified for purposes of this Contract in Schedule A and defined herein.

Examples of Day Count Convention in a sentence

• The Interest Rate shall be calculated based on the Day Count Convention.

• Fixed Leg – The payment amount is based on the following: Notional, Payment Frequency, Day Count Convention and Fixed Interest Rate.

• Floating Leg – The payment amount is based on the following: Notional, Payment Frequency, Day Count Convention, Floating Interest Rate Index and Floating Reset Dates.All payments are settled in accordance with the payment frequency of the swap.

• Interest shall be payable on the Nominal Amount in respect of each successive Interest Period (as defined below) from the Issue Date to the Maturity Date (or, as the case may be, to the Relevant Date), in arrear on the relevant Interest Payment Date, on the basis of the Day Count Convention specified in the Pricing Supplement or, if none is specified, on the basis of the actual number of days in such Interest Period and a year of 360 days or, if this Global Note is denominated in Sterling, 365 days.

• Interest shall be payable on the above-mentioned Nominal Amount in respect of each successive Interest Period (as defined below) from the Issue Date to the Maturity Date (or, as the case may be, to the Relevant Date), in arrear on the relevant Interest Payment Date, on the basis of the Day Count Convention specified in the Pricing Supplement or, if none is specified, on the basis of the actual number of days in such Interest Period and a year of 360 days.

More Definitions of Day Count Convention

Day Count Convention means that if an Interest Payment Date (other than in the case of the Stated Maturity of, or a Redemption Date for, the Notes) falls on a day that is not a Business Day, that Interest Payment Date will be postponed to the next succeeding Business Day unless that Business Day is in the next succeeding calendar month, in which case the Interest Payment Date will be the immediately preceding Business Day.

Day Count Convention. [ ] 30/360 for the period from from_________to_________. [ ] Actual/360 for the period from_________to_________. [ ] Actual/Actual for the period from_________to_________. If Redeemable:

Day Count Convention means, when determining an amount for a certain determination period, the counting basis stated in the General Terms.

Day Count Convention means, when calculating an amount for a certain reference period, the stated basis of calculation and which:

Day Count Convention means Actual/Actual, Actual/360, 30/360 or such other methodology set forth in a Term Sheet for the purpose of calculating accrued interest or other amounts.

Day Count Convention. Fixed Rate Period: 360-day year consisting of twelve 30-day months. Floating Rate Period: actual number of days elapsed during each interest period and a 360-day year. Business Day: A day on which the Guarantor, Valiant Trust Company and CST Trust Company are open for business in the City of Calgary, Alberta, other than a Saturday, Sunday or any statutory or civic holiday in the City of Toronto, Ontario, the City of Calgary, Alberta and the City of New York, New York. Price to Public: [·]% Yield: [·]%

Day Count Convention. Actual/360 Amortizing Funding Agreement: [ ] Yes [X] No. If Yes, Amortizing Schedule: Additional/Other Terms: Additional/Other Terms: