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In a Nutshell™ Section 4.13:
Section 4.13. Calculation Period. The “Calculation Period” for any party to a Swap Transaction means each period from (and including) one Period End Date to (but excluding) the next one during the Term (except that the first Calculation Period will start on the Effective Date and the last one will end on the Termination Date).
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2006 ISDA Definitions: The full text of Section 4.13:
Section 4.13. Calculation Period. “Calculation Period” means, in respect of a Swap Transaction and a party, each period from, and including, one Period End Date of that party to, but excluding, the next following applicable Period End Date during the Term of the Swap Transaction, except that (a) the initial Calculation Period for the party will commence on, and include, the Effective Date and (b) the final Calculation Period for the party will end on, but exclude, the Termination Date.
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