Template:2021 ISDA Interest Rate Derivatives Definitions Modified Following Business Day Convention

“{{{{{1}}}|Modified Following Business Day Convention}}” or “{{{{{1}}}|Modified Following}}”, when used in conjunction with a date, means that, if that date would otherwise fall on a day that is not a {{{{{1}}}|Business Day}}, subject to Section {{{{{1}}}|2.3.6}} ({{{{{1}}}|Consequences of an Unscheduled Holiday}}), it will instead fall on the first following day that is a {{{{{1}}}|Business Day}} unless this would be in the next calendar month, in which case the date will fall on the first preceding day that is a {{{{{1}}}|Business Day}}.