Reference Year Sample Clauses
The Reference Year clause establishes a specific year as the baseline or point of comparison for calculations, adjustments, or obligations within an agreement. Typically, this clause identifies a particular calendar or fiscal year against which future changes—such as price adjustments, performance metrics, or financial thresholds—are measured. For example, rent escalations or revenue targets may be tied to figures from the Reference Year. Its core function is to provide a clear and consistent benchmark, ensuring all parties have a common frame of reference for evaluating changes over time and reducing ambiguity in contractual obligations.
Reference Year. The period from June 1st of one year to May 31st of the following year.
Reference Year. The period extending from November 1 to October 31 of the previous year, for purposes of calculating the work schedule as of January 1 of each year.
Reference Year. The period commencing April 1 and terminating March 31 of the following year.
Reference Year. The reference year for vacation purposes aligns with the University Fiscal Year from May 1st to April 30th. ▇▇▇▇▇▇’▇ will provide an advanced vacation model whereby Regular full-time employees may take anticipated vacation in the same reference year without accruing it first. It is understood that if the member’s employment ends, any vacation used and not accrued will be deducted from their final pay.