Relevant Year Sample Clauses
The 'Relevant Year' clause defines the specific 12-month period used for calculating or assessing certain contractual obligations, such as financial thresholds, performance metrics, or limits. Typically, this period may align with a calendar year, fiscal year, or another agreed timeframe, and it is referenced when determining annual caps, renewal dates, or compliance requirements. By clearly specifying the applicable year, the clause ensures consistency and prevents disputes over which period should be used for measurement or reporting purposes.
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Relevant Year. The term “Relevant Year” means the year in which the Termination Date occurs unless, during the two year period ending on the Termination Date, there has occurred one or more Changes of Control, in which case the term “Relevant Year” means the year in which occurred the first Change of Control that occurred during that two year period.
Relevant Year. For the purposes of this Agreement, “Relevant Year” means the financial year of [***], which is January 1st to December 31st as of the Execution Date. If the financial year of [***] changes from time to time during the Term, then the Relevant Year shall be changed from time to time accordingly upon [***] receipt of notice of such change from [***]. However, if [***] and [***] agree in writing that any royalties payable by [***] to [***] with respect to the sale, transfer or other disposal by [***], its Affiliates or sublicensees of Product hereunder may be paid by [***] to [***] and by [***] to [***] on a Calendar Year-by-Calendar Year basis instead of on a [***] financial year-by-[***] financial year basis, then the Relevant Year for the Term shall be January 1st to December 31st upon [***] receipt of notice of such agreement from [***].