Annual Term definition

Annual Term means a term of one (1) year.

Annual Term is defined as a one-year period of time for which Subscription has been paid for, which is the default Subscription Term under this Agreement.

Annual Term means the twelve calendar-month period beginning on the March 1 following each Annual Meeting.

Examples of Annual Term in a sentence

• Each Party shall remit payment of its Party Share on or before the beginning of each Annual Term, and set forth in the notice by the Program Treasurer.

• For each Annual Term, each Party shall make every effort to adopt all necessary budgets and make all necessary appropriations for all payments due hereunder.

• Should the Program experience a shortfall in funding during any Annual Term, the Program Treasurer, with the approval of Party Representatives, shall provide written notice to the Parties of the shortage, and the City Parties shall remit payment of required amounts within thirty (30) days’ receipt of the same, with the amount of each City Party’s payment to be based on the Cost Allocation Plan.

• The Program Treasurer shall cause an independent financial audit of the Program Accounts to be completed for each Annual Term (June – July) during the Term, and the report shall be presented to the Parties at the Annual Meeting (“Financial Audit”).

• Notwithstanding Section 3.1, any City Party, other than a Host City, may terminate its participation in this Agreement by providing one year’s written notice to all other Parties on or before the last day of any Annual Term (June 30), and following timely payment of the “Termination Fee.” This Agreement shall thereafter terminate as to the Party providing such notice at 11:59 p.m. on the last day of the immediately ensuing Annual Term.

More Definitions of Annual Term

Annual Term means each one (1) year term of this Agreement commencing on the Contract Year and each anniversary thereof thereafter and continuing for one year or until this Agreement is otherwise terminated, as defined in Section 6 of this Agreement.

Annual Term means the Initial Term and each Automatic Renewal Term.

Annual Term means the term from the commencement date for Seat Based Online Service offerings for a period of twelve (12) months;

Annual Term means the 12-month period beginning on the Subscription Start Date and each subsequent 12-month period ending on the final day of the Subscription Term.

Annual Term means a period of time between two consecutive Annual General Meetings;

Annual Term means a term of 12 months commencing on the Effective Date and each anniversary thereof unless its subscription is terminated as permitted below.

Annual Term means each twelve calendar-month period beginning on March 1, 2001 and each March 1 thereafter.