Third Period Clause Samples
The "Third Period" clause defines a specific timeframe or phase within a contract, typically following two preceding periods. This clause outlines the start and end dates of the third period, as well as any particular obligations, rights, or changes in terms that apply during this phase. For example, it may specify adjusted payment schedules, revised service levels, or new performance benchmarks that become effective in the third period. The core function of this clause is to provide clear structure and expectations for the parties as the contract progresses, ensuring that both sides understand their responsibilities and any changes that occur in this later stage.
Third Period. For the period running from the seventh quarter after the Deliberative Meeting and henceforth, i.e., from February 15, 2022, interest shall be paid quarterly, at the end of each three- month period. Within five business days after each of the indicated interest payment dates, the Company shall provide to the Trustee and the New International Bondholders a report showing the amount of interest capitalized on said dates. Interest not to be capitalized in accordance with Roman numerals ii or iii above shall be due and must be paid on the respective payment date, as indicated in the amortization schedule in Section d.- below.
Third Period. 400 EWUs or, drill one (1) Exploratory Well.
Third Period. (i) During the Third Period, the interest rate on the Loan shall be 3% per annum, if the Lender has determined that during the Third Period at least 1600 Employees were employed.
(ii) During the Third Period, the interest on the Loan shall be 4% per annum, if the Lender has determined that during the Third Period on average at least 1550 but not more than 1599 Employees were employed.
(iii) During the Third Period, the interest rate on the Loan shall be 5% per annum, if the Lender has determined that during the Third Period on average at least 1500 but not more than 1549 Employees were employed.
(iv) During the Third Period, the interest rate on the Loan shall be 6% per annum, if the Lender has determined that during the Third Period on average at least 1450 but not more than 1499 Employees were employed.
(v) During the Third Period, the interest rate on the Loan shall be 8% per annum, if the Lender has determined that during the Third Period on average at least 1400 but not more than 1449 Employees were employed.
Third Period. For the period commencing January 1, 2005 and ending December 31, 2009 ("Third Period"), Employee will provide consulting services to the Company. During the Third Period, Employee will be available to the Company, for up to five (5) days per month, to perform consulting services related to the Company and the operations of the Behavioral Group. These services may require travel as reasonably requested by Company. During such period, Employee shall be engaged as an independent contractor and not as an employee of the Company.
Third Period. For the next 24 Month period immediately following the second period referred to above, the Price per MCM of Gas delivered under this Contract shall be US$33.50 (thirty three US dollars and fifty cents).