Terminal year Sample Clauses

The "Terminal year" clause defines how certain rights, obligations, or calculations are handled in the final year of an agreement or contract. Typically, this clause outlines how prorated payments, final settlements, or reporting requirements are to be managed when the contract does not run for a full year in its last period. For example, it may specify how to calculate fees or deliverables if the agreement ends partway through a fiscal year. The core function of this clause is to ensure clarity and fairness in concluding the contractual relationship, preventing disputes over partial-year obligations or entitlements.
Terminal year. In cases of denial of tenure in the fifth (5th) year or during the final year of a shortened or lengthened probationary period, the faculty member’s appointment expires at the end of the subsequent academic year/nine-month appointment year, whichever is later.
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Terminal year. Where an application for reappointment by an Assistant Professor with eligibility for tenure is unsuccessful, the Faculty Member shall be offered a terminal appointment for one year.
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Related to Terminal year

  • Contract Year A twelve (12) month period during the term of the Agreement commencing on the Effective Date and each anniversary thereof.

  • Billing Period The calendar month shall be the standard period for all charges and payments under this Agreement. On or before the fifteenth (15th) day following the end of each month, Seller shall render to Buyer an invoice for the payment obligations incurred hereunder during the preceding month, based on the Energy Delivered in the preceding month, and any RECs deposited in Buyer’s GIS account or a GIS account designated by Buyer to Seller in writing in the preceding month. Such invoice shall contain supporting detail for all charges reflected on the invoice, and Seller shall provide Buyer with additional supporting documentation and information as Buyer may request.

  • Calendar Year Calendar Year" for the purposes of this Agreement shall mean the twelve (12) month period from January 1st to December 31st, inclusive.

  • Lease Period The lease period of the Finance Lease Agreement II is 36 months, which commenced on April 21, 2023. The lease period of the Finance Lease Agreement III is 36 months, which commenced on September 22, 2023. The lease period of the Finance Lease Agreement IV is 36 months, which commenced on November 30, 2023. The lease period of the Finance Lease Agreement V is 36 months, which commenced on February 27, 2024. The lease period of the Finance Lease Agreement VI is 36 months, which shall commence on April 17, 2024.

  • Month A period commencing at 10:00 a.m., Eastern Standard Time, on the first Day of a calendar month and extending until 10:00 a.m., Eastern Standard Time, on the first Day of the next succeeding calendar month. Monthly shall have the correlative meaning.