Define: Monthly Basis

How is Monthly Basis defined in a legal contract?

• Monthly Basis means the services that are detailed in the proposal or agreed upon in writing between the parties. These can include the services not listed in the proposal as well but requested by the customer. Seen in 1 SEC filing
• Monthly Basis means all the days of a month, inclusive of public holidays and Sundays. Seen in 1 SEC filing
• Monthly Basis means occurring on or about the monthly anniversary of a certain event during a commitment period, as detailed in the [schedule]. Seen in 1 SEC filing
• Monthly Basis means a performer who performs a maximum of [number] calls in a month. Seen in 1 SEC filing
• Monthly Basis means the first business day of every month. Seen in 1 SEC filing
• Monthly Basis means each calendar month. Response times are calculated from the time the call is received by a dispatch center, to the time the unit arrives, or the time of proper cancellation of the responding unit by the appropriate authority. All response time records are maintained accurately. Seen in 1 SEC filing
• Monthly Basis means the practice of making a payment within fifteen days of the close of each calendar month for all purchases made during that month. Seen in 1 SEC filing
• Monthly Basis means a calendar month. A performance failure is defined as failing to meet the Target Service Level for any 3 months out of a 6 month period. A Material Performance Failure is defined as a failure to meet the target service level for 12 consecutive months. Seen in 1 SEC filing

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Monthly Basis means a period encompassing all days in a calendar month, including public holidays and weekends.

Relevant Contract Types

• Subscription Agreement
• Lease Agreement
• Service Agreement

Relevant Circumstances

• Monthly rent or lease payment circumstances
• Circumstances requiring monthly service provision
• Situations requiring regular monthly meetings or reports

Relevant Sectors

• Real Estate
• Information Technology Services
• Retail

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Genie Definition 2

• Monthly Basis means any services detailed in a [proposal] or agreed upon in writing, performed or delivered within a calendar month.

Relevant Contract Types

• Service Agreement
• Consulting Agreement
• Professional Services Agreement

Relevant Circumstances

• Circumstances requiring project-based work delivered monthly
• Situation where services are to be paid on a monthly basis

Relevant Sectors

• Consulting
• Professional Services

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Genie Definition 3

• Monthly Basis means the practice of making payments within fifteen days post the closing of each calendar month for all purchases.

Relevant Contract Types

• Purchase Agreement
• Supply Agreement

Relevant Circumstances

• Circumstances requiring monthly payments for goods or services
• Cases where regular monthly purchases are made

Relevant Sectors

• Manufacturing
• Retail

Genie Definition 4

• Monthly Basis means a noteworthy failure identified when a [target] is not met consistently over a span of three or twelve consecutive months.

Relevant Contract Types

• Performance Contract
• Service Agreement

Relevant Circumstances

• Situations where performance targets are set on a monthly basis
• Cases where penalties may be incurred for consistent under-performance

Relevant Sectors

• Consulting
• Information Technology Services

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