Initial periods Sample Clauses
The 'Initial periods' clause defines the starting duration of an agreement or contract, specifying how long the initial term will last before any renewals or extensions are considered. Typically, this clause outlines the exact commencement date and the length of the first contractual period, such as one year from the effective date. By clearly establishing the initial timeframe, this clause ensures both parties understand their minimum commitment and helps prevent disputes over the contract's starting obligations and duration.
Initial periods. For the purposes of calculating the Consolidated Total Net Interest Payable, the Consolidated Total Net Interest Payable in respect of the period from 1 January 2006 to 30 September 2006 shall be deemed annualised by multiplying the Consolidated Total Net Interest Payable for the 9 month period to 30 September 2006 by 4/3. For the purpose of calculating Consolidated EBITDA as at 30 September 2006, the Consolidated EBITDA of the combined Group (as calculated on the basis of the last twelve months’ actual results shall be used).
Initial periods. Subject to the payment of the applicable fees set forth in the Order Form, Licensor will initiate the periods (“Initial Periods”) specified in the applicable Order Form.
Initial periods. (a) Where any of the Test Periods would otherwise commence before the Closing Date, such Test Period shall, instead, commence on the Closing Date (the part of such period falling before the Closing Date being ignored).
(b) Consolidated Cashflow, Consolidated EBITDA, Consolidated Total Debt Service and Consolidated Total Interest Payable shall for any Test Period ending less than 12 months after Closing be determined on an annualised basis by dividing each such amount by the number of days from Closing to the Accounting Date at the end of such Test Period and multiplying by 365.
(c) For the purposes of making calculations under this Clause 18 (Financial covenants) only, the Target Group shall be deemed to have become wholly-owned subsidiaries of the Company on the Closing Date.
Initial periods. Notwithstanding the foregoing in clause (a) of this Section 5.3:
(i) the first distribution to each Partner pursuant to Section 5.3(a) shall be with respect to the cumulative period ending at the end of the Fiscal Quarter ending June 30, 1994 in an amount equal to one-half of the Undistributed Income of such Partner as of the end of such Fiscal Quarter (and the other half shall be referred to as the "First Reserve Amount");
(ii) the second distribution to each Partner pursuant to Section 5.3(a) shall be with respect to the Fiscal Quarter ending September 30, 1994 in an amount equal to one-half of the excess of (A) the Undistributed Income of such Partner as of September 30, 1994 over (B) the First Reserve Amount of such Partner (and the other half shall be referred to as the "Second Reserve Amount");
(iii) the third distribution to each Partner to Section 5.3(a) shall be with respect to the Fiscal Quarter ending December 31, 1994 in an amount equal to one-half of the excess of (A) the Undistributed Income of such Partner as of December 31, 1994, over (B) the sum of the First Reserve Amount of such Partner and the Second Reserve Amount of such Partner (and the other half shall be referred to as the "Third Reserve Amount"); and
(iv) (without limiting in any way any subsequent distributions) the balance of the amount due to each Partner under Section 5.3(a) and this Section 5.3(b) as of the end of the Fiscal Quarter ending December 31, 1994 (i.e., the sum of the First Reserve Amount of such Partner, the Second Reserve Amount of such Partner, and the Third Reserve Amount of such Partner) shall be distributed in cash to such Partner in three equal installments at such time as distributions are made (or would be required to be made) with respect to the Fiscal Quarters ending on March 31, 1995, June 30, 1995 and September 30, 1995 (or, if any such distribution is not required to be made, on the forty-fifth day following such Fiscal Quarter as to which such distribution is not required to be made.