Time Based Release Schedule Clause Samples
A Time Based Release Schedule clause establishes a predetermined timeline for the release of funds, assets, or rights under a contract. Typically, this clause specifies that certain payments or deliverables will be made available at set intervals—such as monthly, quarterly, or upon reaching specific dates—rather than all at once. For example, in a software development agreement, payments might be released to the developer at the end of each project milestone. The core function of this clause is to ensure a structured and predictable distribution of obligations or benefits, thereby managing risk and incentivizing ongoing performance throughout the contract term.
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Time Based Release Schedule. Subject to Subsections 2.1.1 and 2.1.2, if the Issuer is an emerging issuer (as defined in section 3.3 of the Policy), and escrow securities have been released from the Operations Milestone escrow restrictions in subsection 2.1.1 herein, and/or the Financing Milestone escrow restrictions in subsection 2.1.2 herein, then such shares shall continue to be held in escrow by the Escrow Agent and will be released as follows: Release Dates Percentage of Total Escrow Securities to be Released On the Listing Date 1/10 of the escrow securities 6 months after the Listing Date 1/6 of the remaining escrow securities 12 months after the Listing Date 1/5 of the remaining escrow securities 18 months after the Listing Date 1/4 of the remaining escrow securities 24 months after the Listing Date 1/3 of the remaining escrow securities 30 months after the Listing Date 1/2 of the remaining escrow securities 36 months after the Listing Date The remaining escrow securities *Subject to Subsections 2.1.1 and 2.1.2, in the simplest case and where there are no changes to the escrow securities initially deposited and no additional escrow securities, the release schedule outlined above results in the escrow securities being released in equal tranches of 15% after completion of the initial 10% release on the Listing Date.