Term Year definition
Term Year means a 12-month period beginning on the first day of the Term and each successive 12-month period thereafter.
Term Year means each annual period beginning on the Effective Date (as defined in Section 9 hereof) or anniversary thereof, and ending on the day prior to the anniversary of the Effective Date.
Term Year wherever used herein earlier means financial year.
Examples of Term Year in a sentence
Promptly following the end of each Term Year, Customer shall pay to Parent a non-refundable, non-creditable royalty (the “Royalty”) equal to [***] percent ([***]%) of the Royalty Base Amount; provided, however, that after the cumulative AI Model Net Income since the Effective Date exceeds $[***], the Royalty shall equal [***] percent ([***]%) of the Royalty Base Amount.
Customer shall pay $[***] per GPU Hour for all GPU Services purchased by Customer in each Term Year.
More Definitions of Term Year
Term Year means a twelve (12) month period beginning on Initial Delivery Date and each successive twelve (12) month period thereafter.
Term Year means a twelve (12) month period beginning on the first day of the calendar month following the Term Start Date and each successive twelve (12) month period thereafter.
Term Year means a twelve (12) month period beginning on the first day of the Term and each successive twelve (12) month period thereafter.
Term Year means any calendar year during the Term of this Agreement beginning January 1 and ending December 31, except that the first Term Year shall mean the period beginning on the Effective Date of this Agreement and ending on December 31 of the next calendar year.
Term Year each separate, consecutive 12-month period of the Term.
Term Year means (i) the period comprised of the first (1st) through twelfth (12th) complete consecutive calendar months during the Term, and (ii) each succeeding period of twelve (12) consecutive calendar months thereafter.
Term Year means (i) if the Closing Date occurs on the first day of a calendar month, the 12-month period beginning on the Closing Date or (ii) if the Closing Date does not occur on the first day of a calendar month, the period from the Closing Date through the 12-month anniversary of the end of the calendar month in which the Closing Date occurred and, in either case of clause (i) or (ii), each succeeding 12-month period and in any case ending on the End Date.