Term Years definition

Term Years means each 365-day period commencing on --------- ---------- the Effective Date for the duration of the Term (as defined in Section 4.01(a)); it being understood that the Term contains five Term Years.
Sample 1
Term Years means more than one (1) Term Year. A "Partial Term Year" means if the Completion Date is a date other than November 1, then the period from the Completion Date to the first day of the first Term Year. Unless otherwise expressly provided for herein, all terms and conditions herein shall apply the same to a Partial Term Year as to a Term Year; PROVIDED, HOWEVER, that all payments and other financial obligations shall be apportioned or prorated pursuant to Section 28.6 hereof.
Sample 1

Examples of Term Years in a sentence

  • Extended Cost – Total of Initial Term Years 1 – 5 Subtotal – Subtotal of the Extended Cost figures.

  • Where years are not specifically designated as Term Years, they are calendar years.

  • For each of the Term Years after the first Term Year, the total Maintenance Debit Value for Maintenance Outages may not exceed 550 hours plus hours carried over from prior Term Years; provided, however, that such Maintenance Debit Value may not exceed 600 hours in any Term Year.

  • The term “commercially reasonable efforts” in this Section 3.17(c) does not require Seller to pay or incur more than $20,000 multiplied by the number of Term Years in the Term.

  • The term “commercially reasonable efforts” in Sections 9.03(a) and 9.03(b) does not require Seller to pay or incur more than $20,000 multiplied by the number of Term Years in the Term.

  • This Lease may be renewed at the option of the Government for a term of XX YEARS at the following rental rate(s): Option Term, Years XX - XX provided notice is given to the Lessor at least XX days before the end of the original Lease term or any extension thereof; all other terms and conditions of this Lease, as same may have been amended, shall remain in full force and effect during any renewal term.

  • Within thirty (30) days after the end of each of first ten Facility Term Years, Seller shall provide SCE Notice of the Generating Facility’s actual availability.

  • For the avoidance of doubt, the Applicable Credit Percentage (as shown in Table F) is based on the Term Year 1 MARC for all Term Years, and shall not be adjusted for any increases in the MARC after Term Year 1.

  • The Quarterly Maximum Credits and Quarterly Credits applicable to subsequent Quarters, and the MARCs applicable to subsequent Term Years, will each be reduced, based on the proportions of the amount of the MARC-Eligible Charges billed for the period of the three full calendar months immediately prior to such termination by the Qualifying Companies that have effective Concurrently Subscribed Contract Offers, and by such terminated Qualifying Company.

  • The anticipated […***…] invoices for the FTE funding under Section 5.3.1 for the second and subsequent Research Term Years will be sent together with written reports referred to in Section 5.3.2. Merck shall pay the invoiced amounts within […***…] from receipt of said invoice.

Related to Term Years

  • Term Year means a 12-month period beginning on the first day of the Term and each successive 12-month period thereafter.

  • Anniversary Year The one-year period beginning on the Closing Date and ending on the first anniversary thereof, and each subsequent one-year period beginning on the day after the end of the preceding Anniversary Year and ending on next succeeding anniversary of the Closing Date.

  • Three-Year Period means, with respect to a Restatement, the three completed fiscal years immediately preceding the date that the Board, a committee of the Board, or the officer or officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare such Restatement, or, if earlier, the date on which a court, regulator or other legally authorized body directs the Company to prepare such Restatement. The “Three-Year Period” also includes any transition period (that results from a change in the Company’s fiscal year) within or immediately following the three completed fiscal years identified in the preceding sentence. However, a transition period between the last day of the Company’s previous fiscal year end and the first day of its new fiscal year that comprises a period of nine to 12 months shall be deemed a completed fiscal year.

  • Prior Month Receipt Period With respect to each Distribution Date, the calendar month preceding the month in which such Distribution Date occurs.

  • Initial Term has the meaning set forth in Section 7.1.

  • Plan Year(s means the approximate twelve-month periods between annual meetings of the shareholders of the Company, which, for purposes of the Plan, are the periods for which annual retainers are earned.

  • One-hundred-year flood means a flood having a one per cent chance of being equaled or exceeded in any given year.

  • Anniversary Date means each anniversary of the Closing Date.

  • Mid-Month Receipt Period With respect to each Distribution Date, the one month period beginning on the Determination Date (or, in the case of the first Distribution Date, from and including the Cut-Off-Date) occurring in the calendar month preceding the month in which such Distribution Date occurs and ending on the day preceding the Determination Date immediately preceding such Distribution Date.

  • extended reduction period means the period for which a person is in receipt of an extended reduction in accordance with paragraph 89, 96 or 101;

  • Initial Period means the period from (and including) the Issue Date to (but excluding) the First Call Date;

  • Income year means any year or accounting period beginning 1 July of one calendar year and ending 30 June of the following calendar year or any other period that the Trustees by resolution adopt;

  • Leave Year means the year ending with the anniversary date of the employee’s appointment.

  • Years mean and refer to calendar year(s).

  • Minimum Hire Period means the Minimum Hire Period as described on the invoices, quotation, authority to hire, or any other forms as provided by the Supplier to the Client.

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Original Term shall have the meaning specified in Section 10 hereof.

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Crop year means any 12 month period which represents the planting, growing, harvesting and marketing of an insurable crop, as stated in the Schedules;

  • Extended Reporting Period means a designated period of time after a claims-made policy has expired during which a claim may be made and coverage triggered as if the claim has been made during the policy period.

  • Extension Term means the time period defined in §2.C.

  • Baseline Period means the period used to determine the baseline emission rate for each regulated pollutant under OAR 340 division 222.

  • Annual Period means each twelve (12) month period commencing on the Effective Date and, thereafter, on each anniversary of the Effective Date.

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.

  • Term Commencement Date shall be the later of (i) November 1, 2006 or (ii) the date on which Landlord’s Work is Substantially Complete (or the date on which Landlord’s Work would have been Substantially Complete absent Tenant Delay or Force Majeure (as defined below)); provided, however, that if the Term Commencement Date is not the first day of a calendar month, then the first lease year shall be extended through the last day of the calendar month in which the first 12-month period expires, and Rent for the additional period at the end of the first lease year shall be payable at the rate for the 12th month of the Term. “Force Majeure” means accident; breakage; repair; governmental regulation, moratorium or other governmental action. The “Term Expiration Date” shall be the day immediately preceding the seventh (7th) anniversary of the Term Commencement Date, provided that if such preceding day is not the last day of a calendar month, then the Term Expiration Date shall be the last date of the calendar month in which such preceding day occurs. Landlord and Tenant shall each execute and deliver to the other written acknowledgment of the actual Term Commencement Date and the Term Expiration Date when such are established, and shall attach it to this Lease as Exhibit B. Failure to execute and deliver such acknowledgment, however, shall not affect the Term Commencement Date or Landlord’s or Tenant’s liability hereunder. Failure by Tenant to obtain validation by any medical review board or other similar governmental licensing of the Premises required for the Permitted Use by Tenant shall not serve to extend the Term Commencement Date.