Template:2021 ISDA Definitions 3.3.2

3.2.2 Calculation Period.
“Calculation Period” means each period from, and including, one Period End Date for the relevant party to but excluding, the next following applicable Period End Date during the Term of the Transaction, except that:

(i) the initial Calculation Period will commence on, and include, the Effective Date; and

(ii) the final Calculation Period will end on, but exclude, the Termination Date.