Execute code every X seconds, but break immediately on event?

I am looking for a way to execute some code every X seconds but if an event occurs during the X seconds, break immediately.

Originally I had a while loop with a sleep statement at the end. However this was problematic because if the code was sleeping, I couldnt stop the code immediately and had to wait until the sleep had finished.

Is there any simple way I can execute then sleep, but interrupt this sleep on an event?