cut-off date - это срок истечения/окончания, но не пойму, как с этим вяжется слово "monthly" (ежемесячный срок истечения что ли?)

Вот контекст: Progress Reporting ‘Cut-off Dates’ shall be in accordance with the PROJECT Calendar.
At monthly cut-off date, CONTRACTOR shall prepare an assessment of the physical progress (including all above progress measurements) with all necessary detailed back-up sheets. CONTRACTOR shall present to COMPANY a comparison of actual progress figures with the scheduled figures for measurable items based on the Level 4 activities.

Заранее всем спасибо за помощь:)