Flex Period Clause Samples
A Flex Period clause allows for a designated timeframe during which certain terms of an agreement, such as deadlines or deliverables, can be adjusted without breaching the contract. Typically, this clause specifies the length of the flex period and the conditions under which it can be invoked, such as unforeseen delays or changes in project scope. Its core practical function is to provide flexibility and accommodate unexpected circumstances, thereby reducing the risk of default and promoting smoother contract performance.
Flex Period. Subject to the requirements of the duties of an employee’s position and directives of their supervisor, employees can elect, in agreement with their supervisor, their hours of duty and times of attendance during the Flex Periods 6.00 am to 9.30 am, 12 noon to 2.00 pm and 4.00 pm to 6.00 pm. vi Notification of Absence
Flex Period. The period beginning on the date five (5) Business Days after the date on which the Borrower notifies the Agent that the Borrower has acquired, directly or through one (1) or more Subsidiaries, Real Estate after the Closing Date with an aggregate Appraised Value of at least $200,000,000, which notice shall include such details about such Real Estate as the Agent shall request, and ending on the date on which the ratio of Consolidated Total Indebtedness to the Consolidated Total Asset Value is greater than sixty-five percent (65%); provided, however, that the Borrower must commence the Flex Period on or before the first anniversary of the Closing Date.