Term Phase Clause Samples
The 'Term Phase' clause defines the specific duration or period during which an agreement or contract remains in effect. It typically outlines the start and end dates of the contractual relationship, and may include provisions for automatic renewal, extension, or early termination under certain conditions. By clearly establishing the timeframe of the parties' obligations, this clause ensures both sides understand when their rights and responsibilities begin and end, thereby reducing uncertainty and potential disputes over the contract's validity period.
Term Phase. During the Term Phase, the Production Loan will be permanently reduced by way of consecutive monthly principal payments commencing 30 days after the end of the Revolving Phase over an amortization period consistent with the Borrower's cash flow profile, as determined by CIBC, by applying its usual practice for similar type loans in comparable circumstances, provided that such amortization period shall not exceed 36 months.
Term Phase. During the Term phase Customer is entitled to use the Service with a User Limit, a Job Limit and an Analyzer Quota as specified in the invoice.
Term Phase. During the Term phase Licensee is entitled to use the Software with a User Limit and Analyzer Quota as specified in the invoice.
Term Phase. During the Term Phase, the interest rates then in effect from time to time for CIBC Prime Rate loans, U.S. Base Rate loans and LIBOR based loans and stamping fees on bankers’ acceptances shall increase by 1% per annum with interest payable monthly in arrears.
Term Phase. During the Term phase Customer is entitled to use the Service with a Mailbox Limit as specified in the invoice. During the Term, either Provider or a Reseller will provide support (herein collectively referred to as “Support”) to Customer. All Resellers are obligated to fulfill certain Support quality standards of Provider, but the concrete terms and conditions of a Support related agreement between Customer and Reseller are subject to the negotiations between these parties. Support by Provider shall be a basic Support in accordance with the following additional terms and conditions (“Support Provisions” or “SP”). The SP are hereby incorporated by reference into the SAASA. Defined terms used herein but not otherwise defined herein shall have the meanings given such terms in the SAASA. In the event of a conflict between these SP and the SAASA, the SAASA shall govern. NONE OF THE SERVICE AND SUPPORT PROVISIONS SHALL OPERATE OR BE CONSTRUED AS A WAIVER OF ANY LIMITATION OF WARRANTY, LIMITATION ON REMEDIES, LIMITATION OF DAMAGES, LIMITATION OF LIABILITY OR ANY OTHER LIMITATION AS SET FORTH IN THE SAASA IN FAVOUR OF THE PROVIDER.
Term Phase. During the Term Phase on the first day of each month in consecutive monthly amortized payments of principal and interest sufficient to amortize the remaining unpaid principal balance at the Pay Rate as it may adjust from time to time based on an amortization schedule of ten (10) years.
Term Phase. During the Term phase Licensee is entitled to use the Software with a Mailbox Limit as specified in the invoice. During the Term, either Licensor or a Reseller will provide service and support (herein collectively referred to as “Support”) to Licensee. All Resellers are obligated to fulfill certain Support quality standards of Licensor, but the concrete terms and conditions of a Support related agreement between Licensee and Reseller are subject to the negotiations between these parties. Support by Licensee shall be a basic Support in accordance with the following additional terms and conditions (“Service and Support Provisions” or “SaSP”). The SaSP are hereby incorporated by reference into the ▇▇▇▇. Defined terms used herein but not otherwise defined herein shall have the meanings given such terms in the ▇▇▇▇. In the event of a conflict between these SaSP and the ▇▇▇▇, the ▇▇▇▇ shall govern. NONE OF THE SERVICE AND SUPPORT PROVISIONS SHALL OPERATE OR BE CONSTRUED AS A WAIVER OF ANY LIMITATION OF WARRANTY, LIMITATION ON REMEDIES, LIMITATION OF DAMAGES, LIMITATION OF LIABILITY OR ANY OTHER LIMITATION AS SET FORTH IN THE ▇▇▇▇ IN FAVOUR OF THE LICENSOR.
Term Phase. During the Term Phase, the Credit Facility will be permanently reduced by way of consecutive monthly principal payments commencing 30 days after the end of the Revolving Phase over an amortization period consistent with the Borrower’s cash flow profile, as determined by CIBC, by applying its usual practice for similar type loans in comparable circumstances, provided that such amortization period shall not exceed 24 months. On the last day of the Term Phase, all principal, interest and other amounts owing hereunder will become immediately due and payable.
Term Phase. CIBC Prime Rate in effect from time to time plus 1 1/2% per annum with interest payable monthly in arrears. STANDBY FEE: During the Revolving Phase, a Standby Fee of 1/4 of 1% per annum calculated on the undrawn portion of the available and unused Production Loan is payable monthly in arrears. RENEWAL FEE: $20,000 is payable upon the Borrower's acceptance of the terms and conditions hereof.