- - - ANNUAL PERFORMANCE TEST Sample Clauses
The Annual Performance Test clause establishes a requirement for periodic evaluation of a party's performance, typically on a yearly basis, against predefined standards or benchmarks. In practice, this clause may specify the metrics to be measured, the testing procedures, and the consequences of failing to meet the required performance levels, such as penalties or remedial actions. Its core function is to ensure ongoing accountability and maintain service quality throughout the contract term by providing a structured mechanism for regular performance assessment.
- - - ANNUAL PERFORMANCE TEST. Upon written request of the Issuing Authority, the Licensee shall provide copies of performance tests in accordance with FCC regulations, as set out in 47 C.F.R. §76.601 et seq. to the Issuing Authority.
- - - ANNUAL PERFORMANCE TEST. Performance requirements and standards specified in Section 5.9 above shall be measured annually to ensure compliance with same. The costs of such tests shall be borne by Licensee.
- - - ANNUAL PERFORMANCE TEST. No later than sixty (60) days prior to the Target Service Commencement Date, and in accordance with the Gridco-Genco-Hydroco Operating Agreement, Operator shall coordinate with T&D Operator to submit to PREB, for its review and approval, the procedures for the Annual Performance Test developed pursuant to the PREPA- Genco-Hydroco Operating Agreement. Within thirty (30) days following its receipt of such procedures, PREB, acting reasonably, shall provide Operator and T&D Operator comments on the appropriateness of the proposed procedures and recommend any changes or modifications it believes are necessary or appropriate. If PREB does not deliver such comments during such thirty (30) day period, it shall be deemed to have agreed with the procedures for the Annual Performance Test.
- - - ANNUAL PERFORMANCE TEST. If the EBITDA for any fiscal year 2003 through 2007 equals or exceeds the EBITDA Target for such fiscal year, an installment consisting of 15% of the shares covered by the Option shall become exercisable on the Determination Date for such fiscal year.
- - - ANNUAL PERFORMANCE TEST. No later than ninety (90) days following the Service Commencement Date, Operator shall conduct the first Annual Performance Test for each Legacy Generation Asset with reasonable assistance from Administrator, (as requested by Operator) and PREB’s right to observe (upon PREB’s election to observe), and in a manner consistent with the PREPA-Genco-Hydroco Operating Agreement and procedures developed pursuant to the PREPA-Genco-Hydroco Operating Agreement and reviewed by PREB in accordance with Section 4.2(u) (Annual Performance Test). Operator shall promptly submit the results of such test, the proposed Equivalent Availability Factor targets and Minimum Performance Thresholds, and all supporting calculations and documentation, to PREB for its review.
- - - ANNUAL PERFORMANCE TEST. If the EBITDA for any fiscal year 2002 through 2005 equals or exceeds the EBITDA Target for such fiscal year, on the Determination Date for such fiscal year, a portion of the Basic Option shall become exercisable as follows:
(A) An installment consisting of 11.25% of the shares covered by the Basic Option shall become exercisable on the Determination Date for fiscal year 2002 if EBITDA for such fiscal year equals or exceeds the EBITDA Target for such year; and
(B) An installment consisting of 16.25% of the shares covered by the Basic Option shall become exercisable on the Determination Date for each fiscal year 2003 through 2005 if EBITDA for such fiscal year equals or exceeds the EBITDA Target for such year.