Reduction period Sample Clauses

The "Reduction period" clause defines a specific timeframe during which certain obligations, payments, or penalties under a contract are reduced or phased out. Typically, this clause outlines how the amount owed or the level of responsibility decreases incrementally over the stated period, such as a diminishing penalty for early termination or a gradual reduction in service fees. Its core practical function is to provide a structured and predictable method for lessening contractual burdens over time, thereby incentivizing compliance and offering flexibility to the parties involved.
Reduction period. The reduction period starts from the first Hour of the Gas Day 23-02-2023 and runs until the last Hour of the Gas Day 05-04-2023.
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Reduction period. The Temporary Reduction will take effect on June 1, 2020 (the “Effective Date”) and will continue in effect until a date to be mutually agreed in writing by and between the Parties, and if not so mutually agreed, shall automatically expire on December 31, 2020 (such date as mutually agreed or otherwise upon expiration, the “Reduction End Date”, and the period from the Effective Date until the Reduction End Date, the “Reduction Period”). The Company agrees that the Compensation Committee of the Company’s Board of Directors shall meet to review and consider the Temporary Reduction on at least a quarterly basis during the Reduction Period.
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Reduction period. The Landlord and the Tenant agree that: 2.1 During the Rent Reduction Period a Reduced Rent as set out above shall be payable by the Tenant, and the special terms in clause 2 shall apply notwithstanding any contrary terms elsewhere in this agreement. 2.2 During the Rent Reduction Period the Tenant shall be entitled only to use the Property to store the Tenant’s belongings at his/her own risk in the Property. Any belongings must be bagged/boxed and clearly labelled “incoming tenant” and if they are not they are liable to be disposed of without notice and without compensation being payable. 2.3 During the Rent Reduction Period, notwithstanding any contrary terms elsewhere in this agreement, the Tenant shall not be entitled: a) To hold a key to the Property; b) To reside at the Property or allow any person to reside at the Property. 2.4 The Landlord shall grant access to the Property to the Tenant during the Rent Reduction Period at reasonable times of the day by arrangement with the Landlord having given the Landlord at least 24 hours notice. 2.5 During the Rent Reduction Period, provided that at all times reasonable care is taken not to cause damage to the Tenant’s belongings, the Landlord and the Landlord’s agents and contractors shall be entitled to enter to the Property without notice to the Tenant in order to inspect the Property and carry out repairs, renovations and improvement works. 2.6 The Tenant acknowledges that they may not be entitled to an exemption or discount from Council Tax during any period where the Property is not occupied, and that they are responsible for applying for any relevant discounts or exemptions (including empty property discount if available). 2.7 If the Tenant does reside at the Property during the Rent Reduction Period in breach of this clause, the Tenant shall pay the full standard Rent as damages for breach of this part of the Agreement.
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Reduction period. Borrowers shall reduce all outstanding Revolving Advances to not more than $9,000,000 and not permit outstanding Revolving Advances to be more than $9,000,000 for the period of June 1, 1999 through and including July 15, 1999."
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Reduction period. This temporary reduction of Subject Premises (“Reduction Period”) shall commence as of August 1, 2013 (“Reduction Commencement Date”) and expire as of December 31, 2014 (“Reduction Expiration Date”). Should the Excluded Premises be available for recapture prior to the Reduction Expiration Date, the Reduction Expiration Date may be revised to an earlier date by written letter agreement executed by ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ and the City Manager.
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Reduction period. At the Commencement of any Reduction Period the Borrower shall prepay any amount by which the aggregate Revolving Credit Exposures exceed U.S.$75,000,000.
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Reduction period. To reduce the amount of advances outstanding under Facility No. 1 to at least $3,000,000 below the Facility No. 1 Commitment for a period of at least 30 consecutive days in each fiscal year.
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Reduction period. Borrowers shall reduce all outstanding Revolving Advances to not more than $9,000,000 and not permit outstanding Revolving Advances to be more than $9,000,000 for the period of March 1, 2000 through and including April 15, 2000." (d) The second sentence of Section 9.2 of the Loan Agreement is hereby amended by adding the following at the end thereof: "including, without limitation, a reconciliation of all sums remitted to H.I.G. Capital LLC ("HIGLLC") with respect to Receivables sold or transferred by LTC to HIGLLC pursuant to an Assignment of Account Receivables dated this date between LTC and HIGLLC ("Assignment Agreement")."
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Related to Reduction period

  • PRORATION PERIOD The Tenant: (check one)

  • ▇▇▇▇▇ Period After payment of the first Dues, the Subscriber is entitled to a grace period of 30 days for the payment of any Dues due. During this grace period, the Agreement will remain in force. However, the Subscriber will be liable for payment of Dues accruing during the period the Agreement continues in force.

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Vacation Period ‌ The choice of vacation periods shall be granted to employees on the basis of seniority with the Employer except where the period requested would be detrimental to the operation of the Employer.

  • Election Period The period which begins on the first day of the Plan Year in which the Participant attains age thirty-five (35) and ends on the date of the Participant’s death. If a Participant separates from Service prior to the first day of the Plan Year in which age thirty-five (35) is attained, the Election Period shall begin on the date of separation, with respect to the account balance as of the date of separation.