Time-based Clause Samples
A Time-Based clause establishes specific timeframes or deadlines within which certain actions or obligations must be performed under an agreement. For example, it may require a party to deliver goods within 30 days of contract signing or to provide notice of termination at least 60 days in advance. This clause ensures that all parties are aware of and adhere to clear temporal expectations, thereby reducing ambiguity and helping to prevent disputes related to timing.
Time-based. The Optionee shall have the right to exercise a portion of the Option to purchase 325,000 Shares on and after the second anniversary of the Grant Date. The Optionee shall have the right to exercise a portion of the Option to purchase 325,000 Shares on and after the third anniversary of the Grant Date. Each such right to purchase Shares may be exercised in whole, at any time or in part from time to time and shall be cumulative and shall continue, unless sooner exercised or the Option expires as herein provided, during the remaining period of the Exercise Term.
Time-based. (______) Restricted Shares shall become vested on the third anniversary of the Grant Date; provided that, if the Participant’s employment is involuntarily terminated by the Company without Cause prior to _________, 20___, a portion of the unvested Restricted Shares identified in this subsection 3(c) shall still vest on _________, 20___ on a pro-rata basis; the number of shares that will vest will be determined pro-rata based on the number of months of service rendered by the Participant during the three-year period, divided by 36, times the total number of shares identified in this subsection 3(c).
Time-based. The goal should have a set target date for completion within the academic year.
Time-based. The short-term goal should include an end date and/or benchmarks for progress and completion. And because they are “short-term,” it should be a reasonably short time frame. Some possible medium-term goals for a leadership team whose board has adopted the long-term goal of “By 2020, our organization will serve X people” include: ▪ Identify seven local neighborhoods that lack our services within three months. ▪ Launch a new program in X community within one year. ▪ Expand referral services to include ten additional agencies within one year.
Time-based. Each share of Class B Common Stock that remains outstanding as of the seven-year anniversary date of the Effective Date shall automatically, without further action by the Corporation or the holder thereof, convert into one (1) fully paid and nonassessable share of Class A Common Stock.
Time-based. The term of this Agreement will commence upon the Effective Date and will continue until (the “Initial Term”), unless earlier terminated in accordance with the provisions hereof; provided, however, that if the CONTRACTOR has performed any Services (or other work) for the Tribe prior to the Effective Date, such services or work will be governed by the terms and provisions of this Agreement (in the absence of any other written agreement expressly governing such services or work). Upon the expiration of the Initial Term, this Agreement may be renewed by the written agreement of the Parties (upon such terms as are mutually agreeable to the Parties). The period of time during which this Agreement is in effect in accordance with this Article 2 is referred to herein as the “Term”. Work shall commence within three (3) days after receipt by the Contractor of notification to proceed. It is anticipated that work may begin in April, depending on the accessibility of the planting areas and soil conditions.
Time-based. Any unvested time-based equity awards held by you shall vest pro rata and be payable in Company stock on the Separation Date, calculated by multiplying the award amount by a fraction, the numerator of which equals the number of days Employee was employed by the Company during the applicable vesting period through Employee’s Separation Date and the denominator of which is the total number of days in the applicable vesting period, less the number of shares previously vested.
Time-based. Committed Support will be provided for a designated period-of-time. For Time Based products, when a Software product exits the Committed Support period, it enters the Extended Support period. During this period, Customer may access previously released Software Updates, technical Support and Self-Help resources, but may no longer submit defect Support or enhancement requests. For selected Software products, “Extended Support Plus” may be purchased at an additional fee for continued access to Severity Level 1 defect support and critical security Software Updates. See more information here: ▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇▇-▇▇▇-▇▇▇▇▇▇▇▇/▇▇▇▇▇▇▇▇-▇▇▇▇/
Time-based. Subject to the conditions set forth herein, on the first anniversary of the Closing Date, Seller shall receive the shares of Parent Common Stock allocated to Seller on the Allocation Schedule (as updated in accordance with the terms hereof) under the heading “First Time-Based Shares” representing his portion of first time-based shares (the “First Time-Based Shares”) and on the second anniversary of the Closing Date, Seller shall receive the shares of Parent Common Stock allocated to Seller on the Allocation Schedule (as updated in accordance with the terms hereof) under the heading “Second Time-Based Shares” representing his portion of second time-based shares (the “Second Time-Based Shares”).