Last year of the Term definition

Last year of the Term references to “the last year of the Term” include the last year of the Term if the Term shall determine otherwise than by effluxion of time and references to “the expiration of the Term” include such other determination of the Term
Last year of the Term means the period of 12 months ending at the End of the Term.

Examples of Last year of the Term in a sentence

  • IF THIS LEASE IS NOT TERMINATED PURSUANT TO THE ABOVE PARAGRAPH, THEN LANDLORD SHALL PROCEED WITH ALL DUE DILIGENCE TO REPAIR AND RESTORE THE BUILDING, AT LANDLORD'S COST, ONCE IT HAS BEEN ASSURED OF THE EXISTENCE OF AND PAYMENT OF THE INSURANCE PROCEEDS (EXCEPT THAT LANDLORD MAY ELECT NOT TO REBUILD IF SUCH DAMAGE OCCURS DURING THE LAST YEAR OF THE TERM OF THE LEASE EXCLUSIVE OF ANY OPTION WHICH IS UNEXERCISED AT THE DATE OF SUCH DAMAGE).

Related to Last year of the Term

  • Year of the Term as used herein shall mean each twelve-month period commencing on (START 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.

  • Budget year means the financial year of the municipality for which an annual budget is to be approved in terms of section 16(1) of the MFMA;

  • (20) The term commercial clothes washer’ means a soft- mount front-loading or soft-mount top-loading clothes washer that—

  • Post-Deconsolidation Period means any taxable period beginning after the date of a Deconsolidation Event.

  • Operation Period means the period commencing from COD and ending on the Transfer Date;

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

  • Pre-Deconsolidation Period means any taxable period beginning on or prior to the applicable Deconsolidation Date.

  • First Year means the intake group of Students for the most junior class or year in a school.

  • (16) The term data asset’ means a collection

  • Budget Period means the fiscal period for which a budget is prepared.

  • Acquisition Period means any period commencing on the date that a Material Acquisition is consummated through and including the last day of the second full fiscal quarter following the date on which such acquisition is consummated; provided that there shall be at least one full fiscal quarter between any two Acquisition Periods.

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

  • (10) The term commercialization’ means—

  • Operational Period means a period starting with the date and time a Certificate is issued (or on a later date and time certain if stated in the Certificate) and ending with a date and time at which the Certificate expires or is earlier revoked.

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

  • Restructuring Period means, whether or not there are Rated Securities at the time a Restructuring Event occurs, the period of 45 days starting from and including the day on which that Restructuring Event occurs.

  • Year of Eligibility Service means where an Employer designates a one or two 12-consecutive-month eligibility waiting period, an Employee must complete at least 1,000 Hours of Employment during each 12-consecutive-month period (measured from his date of Employment and then as of the first day of each Plan Year commencing after such date of Employment); provided, however, if an Employee is credited with 1,000 Hours of Employment in both the initial eligibility computation period and the first Plan Year which commences prior to the first anniversary of the Employee's employment commencement date, the Employee will be credited, for eligibility purposes, with two Years of Eligibility Service. Where an Employer designates an eligibility waiting period of less than 12 months, an Employee must, for purposes of eligibility, complete a required number of hours (measured from his date of Employment and each anniversary thereafter) which is arrived at by multiplying the number of months in the eligibility waiting period requirement by 83 1/3; provided, however, if an Employee completes at least 1,000 Hours of Employment within the 12 month period commencing on his Employment commencement date or during any Plan Year commencing after such Employment commencement date, such Employee will be treated as satisfying the eligibility service requirements.

  • Start-up Period means up to 7 Academy Financial Years and covers the period up to and including the first Academy Financial Year in which all age groups are present at the Academy (that is, all the pupil cohorts relevant to the age range of the Academy will have some pupils present).

  • Election Period means the period immediately preceding the beginning of each Plan Year established by the Administrator, such period to be applied on a uniform and nondiscriminatory basis for all Employees and Participants. However, an Employee's initial Election Period shall be determined pursuant to Section 5.1.

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.

  • Implementation Period means the period from the date of signing of the Agreement and up to the issuance of Final Acceptance Certificate for the project.

  • Planning Period Quarter means any of the following three month periods in the Planning Period: June, July and August; September, October and November; December, January and February; or March, April and May.

  • Year means a calendar year.

  • (15) The term serious bodily injury’ means

  • Liquidation Period has the meaning set forth in Section 10.6 of this Agreement.