Development Year definition

Development Year or “Year” means each calendar year during the Term, except for the first Development Year, which began on the Original Commencement Date and shall end on December 31, 2023.
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Development Year is defined as follows: The first Development Year begins on the Effective Date of this Agreement and ends on the same day (the “Anniversary Date”) of the following year, and each subsequent Development Year begins the day after the end of the prior Development Year and ends on the Anniversary Date of the following year.
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Development Year means the period which commences on January 1, 2021 and ends on September 30, 2021 (“Development Year 1”), and each consecutive twelve-month period during the Term following the Development Year 1 as set forth in the Development Schedule.
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Examples of Development Year in a sentence

  • In this Agreement, a “Development Year” is defined as follows: The first Development Year begins on the Effective Date of this Agreement and ends on the same day (the “Anniversary Date”) of the following year, and each subsequent Development Year begins the day after the end of the prior Development Year and ends on the Anniversary Date of the following year.

  • Unless sooner terminated in accordance with Section 6 of this Agreement, the term of this Agreement and all rights granted to Developer will begin on the Effective Date of this Agreement and expire at the end of the last Development Year specified in the Development Schedule.

  • Subject to clause 6.9 of the Agreement and provided the Agreement remains in full force and effect, by no later than seven (7) months prior to the end of Development Year 10, the Parties will meet and use commercially reasonable efforts to agree upon a development plan for Development Years 11 through 20 (inclusive).

  • Subject to clause 6.9 of the Agreement, by no later than seven (7) months prior to the end of Development Year 19, provided the Agreement remains in full force and effect and Master Franchisee has issued the Extension Notice, the Parties will meet and use commercially reasonable efforts to agree upon a development plan for the Extension Period.

  • If the Parties fail to reach agreement with respect to the number of Restaurants to be developed by Master Franchisees during the Extension Period prior to the commencement of the Extension Period, then the number of Restaurants open and operating at the end of each Development Year during the Extension Period must increase (net of closures) as compared to the prior Development Year by a minimum of [****] Restaurants (each, an “Extension Period Target”).

  • If the Parties fail to reach agreement with respect to the number of Restaurants to be developed by Master Franchisees during Development Years 11 through 20 prior to the commencement of Development Year 11, then the number of Restaurants open and operating at the end of each Development Year must increase (net of closures) as compared to the prior Development Year by a minimum of [****] Restaurants (each, an “Annual Opening Target”).

  • During Development Year 11 through 20, Master Franchisee will develop, build and operate, or license Franchisees to develop, build and operate, the number of Restaurants agreed upon by the Parties.

  • An accredited practitioner has either successfully completed the National Professional Development Programme (or formerly the Professional Development Year) and received the Validated Statement of Accreditation, graduated from an AIR accredited programme which satisfies the requirement for the issuing of a Validated Statement of Accreditation, or in the case of an overseas qualified practitioner, has been assessed by the AIR as being equivalent to an AIR accredited practitioner.

  • For the avoidance of doubt, if a Restaurant is counted for purposes of determining Master Franchisee’s compliance with the applicable Annual Opening Target or Extension Period Target, if applicable, for a Shortfall Year, it will not be counted for purposes of determining compliance with the applicable Annual Opening Target or Extension Period Target for the Development Year in which the Restaurant actually opened.

  • Development Year 1 will begin on the Commencement Date and end on December 31, 2023 and each successive Development Year will be the calendar year.


More Definitions of Development Year

Development Year means the period of 12 consecutive months beginning on the Effective Date or the anniversary of such date for each of the Industrial Applications as of the Effective Date or beginning upon the date of inclusion of a New Application in the Industrial Applications or the anniversary of such date for such New Application.
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Development Year means each twelve (12) consecutive month period ending on the day immediately preceding the anniversary date of this Agreement during which Developer is obligated to commence operation of Franchised Restaurants pursuant to Section 2.04, herein.
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Development Year means each twelve (12) month period during the Development Term, with the first Development Year beginning on the Effective Date.
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Development Year means the period beginning on the date of the Trigger Event and ending on the last day of the calendar month that includes the one year anniversary of the Trigger Event, and each consecutive twelve (12) month periods thereafter.
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Development Year means the time periods identified in the Development Schedule.
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Development Year means the periods during the term of the Development Program as follows: (i) the first Development Year shall commence on December 1, 1997 and end on December 31, 1998, (ii) the second Development Year shall commence on January 1, -------------------- *[CONFIDENTIAL TREATMENT REQUESTED] INDICATES MATERIAL WHICH HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 1999 and end on December 31, 1999, and (iii) the third Development Year shall commence on January 1, 2000 and end on November 30, 2000.
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Related to Development Year

  • Project Year means the twelve-month period beginning from the Effective Date and ending twelve months thereafter (the First Project Year), and any twelve-month period beginning at the end of the First Project Year, or the end of subsequent Project Years;

  • Agreement Year means such period as the parties may from time to time determine; provided the first Agreement Year under this Agreement shall be the period from January 1, 2005 through December 31, 2005.

  • Assessment year means the period of twelve months commencing on the 1st day of April every year;

  • Payment Year means the calendar year during which the applicable Initial Year Payments or Annual Payments are due pursuant to subsection V.B. Payment Year 1 is 2022, Payment Year 2 is 2023 and so forth. References to payment “for a Payment Year” mean the Initial Year Payments or Annual Payment due during that year. References to eligibility “for a Payment Year” mean eligibility in connection with the Initial Year Payments or Annual Payment due during that year.

  • Development Period means the period from the date of this Agreement until the Appointed Date;

  • relevant year means a year commencing at 00:00 hours on 1 April and ending at 23:59 hours on the following 31 March;

  • Annual Work Plan and Budget means the work plan and budget referred to in Section I.D of Schedule 2 to this Agreement

  • Development Phase means the period before a vehicle type is type approved.

  • Calendar Year means each successive period of twelve (12) months commencing on January 1 and ending on December 31.

  • Planning Period Quarter means any of the following three month periods in the Planning Period: June, July and August; September, October and November; December, January and February; or March, April and May.

  • Grant Year has the same meaning as in subclause 1(1) of Schedule 1 of HESA;

  • Adjustment Year has the meaning ascribed to said phrase under Section 6225(d)(2) of the Code.

  • Development Plan has the meaning set forth in Section 3.2.

  • Development Term means the period commencing on the Closing Date and ending on the earlier of (a) the Option Closing Date or (b) the date the Option terminates or expires other than by exercise.

  • Relevant Year t means the Financial Year for the purposes of which any calculation falls to be made; "Relevant Year t-1" means the Financial Year preceding Relevant Year t, and similar expressions shall be construed accordingly;

  • 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.

  • Annual Net Sales means, with respect to any Calendar Year, the aggregate amount of the Net Sales for such Calendar Year.

  • Employment Year means each twelve-month period, or part thereof, during which Employee is employed hereunder, commencing on the Commencement Date and on the same day of the subsequent calendar year and each consecutive 12 month period thereafter.

  • Program Year means the annual period beginning January 1 and ending December 31.

  • Development Milestone is defined in Section 5.3.

  • Annual Period means each twelve (12) month period commencing on the Effective Date and, thereafter, on each anniversary of the Effective Date.

  • Development Milestone Event has the meaning set forth in Section 7.2.1.

  • Development Team means the entities and professionals assembled to develop and manage the Project, typically including the Applicant, Owner, Developer(s), Co-Developer(s) and general partner or any other related entities in which the Developer or Co-Developer has an identity of interest or a Controlling Interest.

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.

  • Development Project means a project for the development of land within a

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.