Critical Functions Sample Clauses
Critical Functions. Notwithstanding anything in this Section 18.8 to the contrary, upon the occurrence of an event described in Section 18.8.1 that substantially prevents, hinders or delays performance of services necessary for the performance of "critical functions" of such Party for more than seven (7) consecutive days, such Party to whom such affected or delayed performance is due will have the right to immediately terminate this Agreement. For the purposes of this Section 18.8.3, "critical functions" means with respect to a Party, those business functions that are essential and critical to its business operations or the business operations of its Members.
Critical Functions. Notwithstanding anything in this Section 18.8 to the contrary, upon the occurrence of an event described in Section 18.8.1 that substantially prevents, hinders or delays performance of services necessary for the performance of "critical functions" of such Party for more than seven (7) consecutive days, such Party to whom such affected or delayed performance is due will have the right to immediately terminate this Agreement. For the purposes of this Section 18.8.3, "critical
Critical Functions. For purposes of this sec- tion, critical functions include, at a minimum, the fol- lowing:
(1) Private security functions, as that term is de- fined in section 864(a)(6) of the National Defense Au- thorization Act for Fiscal Year 2008 [Pub. L. 110–181] (10 U.S.C. 2302 note) [now 10 U.S.C. 4571 note prec.].
(2) Training and advising Government personnel, including military and security personnel, of a host nation.
(3) Conducting intelligence or information oper- ations.
(4) Any other functions that are closely associated with inherently governmental functions, including the functions set forth in section 7.503(d) of the Fed- eral Acquisition Regulation.
(5) Any other functions that are deemed critical to the success of the operation.
Critical Functions. 7.1 Functions that are fundamental to carrying out Abacus’ core business are considered to be critical functions. A Critical Function is defined as a function that is fundamental to carrying out Abacus’ core business; the failure of which would result in one or more of the following:
7.1.1 A financial loss of sufficient magnitude to require a draw-down of the capital adequacy requirement
7.1.2 Failure to meet the contractual obligations to policyholders
7.1.3 A potential loss of license or penalty being imposed by the Regulator; financial or otherwise
7.2 The Control Functions in the business shall automatically be deemed to be critical functions.
7.3 The RC shall determine whether or not a function, activity or service is Critical.
7.4 The following must not be considered Critical Functions:
7.4.1 The provision to the Company of advisory services and other services, which do not form part of the core insurance activities, such as legal advice, the training of personnel, billing services and the security of premises and personnel;
7.4.2 The purchase of standardised services, including market information services and the provision of price feeds;
7.4.3 The provision of logistical support, for example, cleaning or catering;
7.4.4 The provision of elements of human resources support, for example, sourcing temporary employees and processing payroll.