FRACTIONAL YEAR definition
FRACTIONAL YEAR means and refer to the period from the Commencement Date to and including the last day of the Fiscal Year within which such Commencement Date shall occur and, if this Agreement shall terminate upon any date other than the last day of the Fiscal Year, the period from the first day of the Fiscal Year during which the Term terminates to and including the date of such termination. 1.38 "FURNITURE, FIXTURES, AND EQUIPMENT" shall mean all furniture, fixtures, furnishings and specialized equipment and systems, including Operating Equipment, necessary or customary (now or in the future) with respect to the Hotel Operations in accordance with the terms of this Agreement, including, but not limited to, all equipment required for the operation of housekeeping, kitchens, laundries, dry cleaning facilities and bars, special lighting and other equipment, signs, carpets, drapes, shades, tapestries, pictures, art work, chairs, desks, tables, sofas, wall coverings, televisions, radios, intercoms, telephone systems, on-site computer property management systems, office equipment and machinery and designer fees incurred with Operator's approval after the Effective Date of this Agreement. 1.39 "FUTURE DEVELOPMENT SITE(s)" shall have the meaning set forth in SECTION 11.5. 1.40 GROSS REVENUES" shall mean, any and all revenues or fees derived directly or indirectly from the operation of the Hotel EXCLUDING, without limitation, (a) revenues of any commercial tenant or concessionaire, (b) sales or excise taxes on sales of rooms, meals or services and any other taxes collected from guests, and (c) sales of Units and/or Cabanas, and INCLUDING, without limitation, (i) rental or other payments received from any commercial tenants or concessionaires, (ii) revenues from the Rental Program before deducting payments to the Unit
FRACTIONAL YEAR means and refer to the period from the ---------------- Commencement Date to and including the last day of the Fiscal Year within which such Commencement Date shall occur and, if this Agreement shall terminate upon any date other than the last day of the Fiscal Year, the period from the first day of the Fiscal Year during which the Term terminates to and including the date of such termination.
FRACTIONAL YEAR means the period from the Commencement Date (if such date is not the first day of January) to the last day of December next following and the period from the first day of January of the Calendar Year in which this Agreement terminates to the date of such termination (if such date is not the last day of December).
Examples of FRACTIONAL YEAR in a sentence
IF A FRACTION IS SELECTED, AN EMPLOYEE WILL NOT BE REQUIRED TO COMPLETE ANY SPECIFIED NUMBER OF HOURS OF SERVICE TO RECEIVE CREDIT FOR A FRACTIONAL YEAR.