Calendar Quarter Legal Definition

Calendar quarter definition is one of the four periods of three months each of a calendar year.

Calendar quarter legal definition. Calendar quarter means a quarterly period a for the first such period beginning on the commencement date and ending on the last calendar day of either march june september or december whichever is the first to occur after the commencement date and b for quarterly periods thereafter beginning on the first calendar day of the calendar month immediately after the month that ended the prior period and ending on the last calendar day of each successive three calendar month period. Quarter means a period comprising three consecutive calendar months ending on the last day of march june september and december of a calendar year. A calendar quarter corresponds to the calendar year.

Provided however that the first calendar quarter hereunder shall commence on the effective date and the final calendar quarter hereunder shall end on the effective date of termination or expiration of this agreement. Calendar quarter law and legal definition. The legal definition of calendar quarter is a period of three consecutive months starting on one of january 1 april 1 july 1 or october 1.

One of the four periods of three months into which the financial year is divided january until. Calendar quarter means a 3 month period beginning on january 1 april 1 july 1 or october 1. Fiscal quarters are determined by the specific fiscal year that a business uses usually based on factors such as taxes reporting requirements and whether the business needs to align its fiscal.