Stipulations for academic periods (5)

I believe the answer is:

terms

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'academic periods' is the definition.
(I've seen this before)

I don't understand the rest of the clue.

(Other definitions for terms that I've seen before include "Opportunities to study" , "Conditions (contract)" , "Stipulations, often joined to conditions" , "Phrases" , "Divisions of the academic year" .)

I've seen this clue in The Times.

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