Reserve Period Clause Samples

The Reserve Period clause defines the specific timeframe during which a party is required to maintain a reserve, typically a set amount of funds or assets, to cover potential obligations or liabilities under an agreement. This period may begin at contract execution or upon the occurrence of a triggering event, and it usually ends after all relevant claims, payments, or obligations have been settled or expired. By clearly establishing when the reserve must be held and when it can be released, the clause ensures that sufficient resources are available to address outstanding risks, thereby protecting the interests of the parties involved.
Reserve Period. 1. The Reserve Period (RSV) for a reserve will be no longer than twelve (12) continuous hours. 2. RSVs will be either R1 or R2 and will be indicated in the bid packet and will be consistent for the bid month within each reserve line. a. R1: Any RSV that starts between 0200 – 0859 b. R2: Any RSV that starts between 0900 – 1600 3. Crew Scheduling will not change a Flight Attendant’s awarded RSV period start time unless it must be shifted to allow for ten (10) hours rest in domicile. If the start time is changed, then it must still be within the same R1 or R2 window unless the additional rest required does not allow for that. Only subsequent RSVs in the same block of reserve days may be changed.The Flight Attendant may agree to have his or her rest reduced to FAR minimum rest. 4. A Reserve Flight Attendant is given an assignment, time spent on RSV will be considered duty time for the purposes of determining scheduled duty limitations. A reserve Flight Attendant cannot be assigned a duty period either greater than fourteen (14) hours from the time of report at the airport for the purposes of flight duty to release from flight duty or sixteen (16) hours from the beginning of the RSV period to release from flight duty. Ready reserve will be considered flight duty for purposes of these limitations. 5. If a reserve has not been given an assignment by the end of his/her RSV on the last day of his or her block of reserve days, he or she will automatically be released for that calendar day. 6. If a reserve has not been given an assignment by two (2) hours prior the end of his/her RSV on the last day of his/her block of reserve days, he/she may request a release from Crew Scheduling. 7. If a Flight Attendant is on reserve and does not receive an assignment for that day, that day may not be considered a day off.
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Reserve Period. 1. The Reserve Period (RSV) for a reserve will be no longer than twelve (12) continuous hours. 2. RSVs will be either R1 or R2 and will be indicated in the bid packet and will be consistent for the bid month within each reserve line.
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Reserve Period. The Duty Period during which the Company requires a Reserve to be available to receive an Assignment. Rest / Rest Period – The time at which a Flight Attendant is free from all duty and responsibility. RIG (Ratio-in-Guarantee) – Flight Attendants will be eligible for trip RIG pay credit based on TAFB in accordance with the terms of the CBA. Seniority – The seniority that begins to accrue from the first date of training as a Flight Attendant from which date seniority shall continue to accrue during the Flight Attendant’s period of service. Time Away from Base (TAFB) – Time period beginning at Report Time at Base concluding at Release time back in Base. TWU – Transport Workers Union of America AFL-CIO the “Union.” UTC/GMT/Z/ZULU – All stand for Coordinated Universal Time. VX Day – A scheduled Day Off on which a Flight Attendant has volunteered to fly (applicable only to Flight Attendants performing service under the Atlas LOA).
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Reserve Period. 2.8.1 A reserve period is the time in which a pilot must be contactable for duty and a pilot must report for any nominated duty no later than 2 hours after being contacted. 2.8.2 A reserve period will not exceed 11 hours and a rostered tour of duty will not be immediately preceded by or immediately followed by a reserve period.
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Reserve Period. (a) The initial holdback and escrow period (the "Holdback/Escrow Period") shall terminate at 12:01 a.m. Pacific Standard Time on the one (1) year anniversary of the Closing Date (the "Escrow Release Date") at which point (subject to Section 10.3(b)) the remainder Holdback-Escrow Amount shall be released to the Indemnifying Persons except to the extent provided in Section 10.3(b) below or as provided on Schedule 10.2(a)(2). (b) If a Purchaser Indemnified Person has delivered a Claims Notice to the Company’s Agent prior to the termination of the Holdback/Escrow Period, to the extent that the claims specified in such Claims Notice are not resolved on the Escrow Release Date, an appropriate cash reserve shall be retained in the Escrow Fund (the "Reserve Amount”) which is reasonably necessary to satisfy such claims. The Purchaser and the Principal Stockholder agree to negotiate in good faith towards reaching agreement on the Reserve Amount, it being understood that absent any agreement on the amount of the Reserve Amount the Reserve Amount will equal the lesser of the amount remaining on deposit in the Escrow Fund or the maximum Damages that could result from all claims that are not resolved. Notwithstanding Section 10.3(a), any Reserve Amounts shall not be released to the Indemnifying Persons on the Escrow Release Date and shall remain in the Escrow Fund and be used to compensate the Purchaser Indemnified Persons pursuant to the indemnification obligations of the Indemnifying Persons under Section 10.2. Each such Reserve Amount shall remain in the Escrow Fund until the claims corresponding to such Reserve Amount are resolved. Within five (5) days of any such claim becoming resolved, the Reserve Amount corresponding to such claim will be released to the Indemnifying Persons and subject to the other provisions of this Article X, allocated and paid to the Indemnifying Persons in the same manner as the payments made by the Purchaser on the Second Installment Date. (c) All claims subject to indemnification pursuant to Schedule 10.2(a)(2) shall be deemed resolved on the date set forth on Schedule 10.2(a)(2)
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Reserve Period. During the period ending on the earliest of: (i) the exercise by Tower of the Call Option; (ii) the exercise by TIC of the Put Option; (iii) the termination of this Agreement pursuant to Section y7 or the existence of an Event of Default; and (iv) [***] from the date of signature of this Agreement (the "RESERVE PERIOD"), in the absence of the prior written consent of Tower, TIC shall not: (x) sell, assign or otherwise transfer title or interest in the Purchased Assets to a party other than Tower; (y) uncrate the Purchased Assets; or (z) install or cause the installation of the Purchased Assets in the facilities of a party other than Tower (the "EQUIPMENT INTEGRITY RESTRICTIONS"). After the Reserve Period, TIC may sell or assign all or part of the Purchased Assets, in its sole discretion, without any consent required from Tower to any third party with no limitation on the identity or business of such third party. Nothing herein creates any obligation for TIC to deliver the Purchased Assets to Tower, or to allow Tower to uncrate, use or install the Purchased Assets until both (i) the exercise of the Put Option or the Call Option and (ii) the payment of the Purchase Price in full (or such applicable percentage of the Purchase Price in the event of a partial exercise of the Put Option).
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Related to Reserve Period

  • ▇▇▇▇▇ 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.

  • Effective Period This Agreement shall become effective as of the date first written above and will continue in effect for a period of three (3) years.

  • Hire Period 5.1 Where hire of the Hire Goods is to a Customer who is an individual (whether a consumer or otherwise) or relevant recipient of credit as defined under Article 60L of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 e.g. (a). a partnership consisting of two or three persons not all of whom are bodies corporate, or (b) an unincorporated body of persons which does not consist entirely of bodies corporate and is not a partnership(‘Relevant Individual’), the Hire Period shall commence on the date [specified out in writing by the Supplier] (‘Hire Start Date’) and shall end on the earlier of (i) [the date specified in the Commercial Terms Schedule]; or (ii) the last day of the 3 month period commencing on the Hire Start Date (‘Option 1 Hire End Date’). For the avoidance of doubt, as the Hire Period to Relevant Individuals is no longer than 3 months, the hire of any Hire Goods is not covered by the Consumer Credit Act 1974. 5.2 Where the Customer is not a Relevant Individual, the Hire Period shall commence on the Hire Start Date and shall end on the date specified in the Commercial Terms Schedule (‘Option 2 Hire End Date’). 5.3 On the Option 1 Hire End Date or the Option 2 Hire End Date (as applicable), the Customer shall: (i) physically return the Hire Goods into the Supplier’s possession; or (ii) make the Hire Goods available for physical repossession or collection by the Supplier [in a location specified by the Supplier], as applicable. 5.4 For the avoidance of doubt, the Hire Period shall automatically end on the Option 1 Hire End Date or the Option 2 Hire End Date, as applicable and the Customer shall not be required to pay the Rental in respect of any period in which the Hire Goods are in the Customer’s possession or control outside the Hire Period. 5.5 Notwithstanding clause 5.4, If the Customer fails to comply with its obligations in this clause 5, then it shall be liable for any financial loss which this causes the Supplier [and shall indemnify the Supplier in full and on demand in respect of any costs, liabilities, losses and expenses (including legal fees) incurred as a result].

  • Maintenance Period During the Maintenance Period the Developer shall at its own expense maintain repair and otherwise keep the Works in good working order and repair to the reasonable satisfaction of ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ unless ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ shall declare that any required maintenance and/or repair is an emergency in which case the Developer shall carry out the said maintenance and/or repair immediately

  • week period During each bi-weekly pay period there shall be four (4) days off of which two (2) shall be scheduled as consecutive days off. The Employer will endeavour to provide schedules of not more than five