Equivalency or Elapsed Time Clause Samples

The "Equivalency or Elapsed Time" clause defines how time periods or deadlines are measured and interpreted within a contract, particularly when circumstances change or when specific events affect the original schedule. In practice, this clause may allow for deadlines to be adjusted based on the actual time elapsed rather than fixed calendar dates, or it may specify that certain obligations are considered fulfilled if an equivalent amount of time has passed, regardless of interruptions or delays. Its core function is to provide flexibility and fairness in the administration of time-sensitive obligations, ensuring that parties are not unfairly penalized for delays outside their control and that contractual timelines remain practical and enforceable.