Contract Year definition

Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

Contract Year means, with respect to the initial Contract Year, the period beginning on the Commercial Operation Date and ending at 12.00 midnight on 31st March of that Fiscal Year. Each successive Contract Year shall coincide with the succeeding Fiscal Year, i.e., a period of twelve months commencing on April 1 and ending on following March 31, except that the final Contract Year shall end on the date of expiry of the Term or on Termination of this Agreement whichever is earlier.

Contract Year means the period beginning from the Effective Date of the PPA and ending on the immediately succeeding 31st March and thereafter each period of 12 months beginning on 1st April and ending on 31st March provided that:

Examples of Contract Year in a sentence

• If Customer’s Total Service Charges do not reach the AVC in any Contract Year during the Initial Term, Customer shall pay an “Underutilization Charge” equal to 75% of the unmet AVC.

• If Customer does not provide such written notice, the Initial Term shall be automatically extended for 1 Contract Year (“Extension”).

• Upon the conclusion of each Contract Year of the Renewal Term, if Customer’s Total Service Charges are less than the Renewal Term Commitment for that Contract Year, then Customer will pay: (1) all accrued by unpaid Total Service Charges and other charges incurrent by Customer, and (2) an underutilization charge (which Customer hereby agrees is reasonable) equal to the different between Customer’s Total Service Charges during that Contract Year and the Renewal Term Commitment.

• The Customer is eligible for the following promotions as set forth in the Guide: On The Network LIT V LIT Building Access Promotion Initial Term: 36 months Renewal Term: Upon expiration of the Initial Term, provided that Customer has satisfied the applicable TVC, Customer shall have the option of extending the Agreement for an additional Contract Year by providing Verizon with written notice of its intent to renew at least sixty (60) days prior to the expiration of the Agreement (“Renewal Option”).

• Annual Volume Commitment (“AVC”): Customer agrees to pay Company no less than the Minimum Annual Volume Commitment (“AVC”) per Contract Year in Total Service Charges provided under this Agreement as follows.

More Definitions of Contract Year

Contract Year means a twelve (12) month period during the Term which begins on the Commercial Operation Date or an anniversary date thereof.

Contract Year means each twelve (12) month period during the Term which begins on 01 January and ends on the immediately following 31 December, provided that:

Contract Year means a consecutive period of twelve (12) Months commencing on the Framework Commencement Date or each anniversary thereof;

Contract Year means the period beginning from the Effective Date and ending on the immediately succeeding March 31 and thereafter each period of 12 months beginning on April 1 and ending on March 31 provided that: (i) in the financial year in which the Scheduled Commissioning Date would occur, the Contract Year shall end on the date immediately before the Scheduled Commissioning Date and a new Contract Year shall commence once again from the Scheduled Commissioning Date and end on the immediately succeeding March 31, and thereafter each period of twelve (12) months commencing on April 1 and ending on March 31, and (ii) provided further that the last Contract Year of this Agreement shall end on the last day of the Term of this Agreement

Contract Year means any twelve month period following (i) the effective date of this PMC BPO Cloud Agreement, or an Order Form, whatever relates to, in case of the first Contract Year or (ii) any anniversary of such effective date in case of any subsequent Contract Year.

Contract Year means a twelve (12) month period during the term of the contract commencing on the Effective Date and each anniversary thereof.

Contract Year means the twelve (12) consecutive calendar months starting on the first day of the calendar month following the Commercial Operation Date and each subsequent twelve (12) consecutive calendar month period; provided that the first Contract Year shall include the days in the prior month in which the Commercial Operation Date occurred.