Penalties for Failure to Meet Performance Standards Sample Clauses

Penalties for Failure to Meet Performance Standards. If Liberty fails to meet agreed upon tolerances of the Performance Standards set forth in Exhibit 3.2.1 in any month and, upon notice by Customer, fails to correct the performance for the same Performance Standard within the following month, Customer shall be entitled to an abatement of three percent (3%) of the monthly Services Fees or Minimum Fees for each month thereafter until the Performance Standards are met. For example, if Liberty receives notice from Customer of a failure to meet a specific Performance Standard in January, and Liberty fails to correct the performance during February, then Customer shall be entitled to the 3% abatement in March and any subsequent month(s) during which Liberty fails to meet the specific Performance Standards.
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Penalties for Failure to Meet Performance Standards which reads as follows shall be deleted: “If Liberty meets or exceeds the Performance Standards identified in Exhibit 3.2,1 and Customer achieves DALBAR, Inc. overall ranking scores in the 1st quartile for three consecutive months, Liberty is entitled to receive a bonus equal to 3% of the monthly Service Fees or Minimum Fees, as applicable, for the entire period during which Customer achieved the 1st quartile ranking and for any continuing periods thereafter during which Customer continues to achieve the 1st quartile ranking. Liberty shall include any such bonus awards to which it is entitled as a line item in the monthly invoice to Customer. If Customer achieves one of DALBAR, Inc.’s top annual awards, Liberty becomes eligible for a lump sum award.
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Penalties for Failure to Meet Performance Standards. “ If Liberty meets or exceeds the Performance Standards identified in Exhibit 3.2.1 and Customer meets or exceeds DALBAR, Inc. “
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Penalties for Failure to Meet Performance Standards. If Liberty fails, for two (2) consecutive months, to meet the same performance level for a Performance Standard set forth in Exhibit 3.2.1 and, upon notice by Customer, Liberty fails to correct its performance level within the month following the two (2) consecutive months in which the failure occurred, Customer shall be entitled to an abatement of three percent (3%) of the monthly Services Fees or Minimum Fees, as applicable, for that entire period during which Liberty failed to correct its performance, until Liberty corrects its performance. {For example, if Liberty fails to meet the same Performance Standard during January and February, and Liberty fails to correct its performance level for that same Performance Standard during March, then Customer shall be entitled to the 3% abatement for the months of January, February and March, and in any subsequent month(s) until Liberty’s performance meets the Performance Standard for that service.} Notwithstanding the foregoing, in no event will Customer be entitled to reduce the Service Fees or Minimum Fees by more than 3%, in the aggregate, regardless of the number of Performance Standards not being achieved by Liberty under these circumstances. For each month thereafter during which Liberty continues to fail to meet the same Performance Standard, Customer shall be entitled to an additional 7% abatement for the entire period during which Liberty failed to meet and correct its performance. {For example, if Liberty fails to meet the same Performance Standard during January, February, March and April, then Customer shall be entitled to a 10% abatement for the months of January, February, March and April.} However, if Liberty and Customer have mutually agreed upon a fix to remedy the Performance Standard shortfall during this period, Customer shall not be entitled to the additional 7% abatement during the period Liberty is working on the mutually agreed upon fix. Notwithstanding the foregoing, in no event will Customer be entitled to reduce the Service Fees or Minimum Fees by more than 10% for any failure to correct Performance Standards, in the aggregate, that remains uncorrected, regardless of the number of Performance Standards not being achieved by Liberty under these circumstances. However, continued failure by Liberty to meet the Performance Standards will result in immediate escalation to the dispute resolution procedures as set forth in Section 13.2. Payment of a fee reduced pursuant to this Section 3.7 sha...
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Related to Penalties for Failure to Meet Performance Standards

  • Performance Standards The Custodian shall use its best efforts to perform its duties hereunder in accordance with the standards set forth in Schedule C hereto. Schedule C may be amended from time to time as agreed to by the Custodian and the Trustees of the Fund.

  • Performance Standard Consultant represents and warrants that Services will be performed in a thorough and professional manner, consistent with high professional and industry standards by individuals with the requisite training, background, experience, technical knowledge and skills to perform Services.

  • Service Levels (1) DTI shall perform the Services in accordance with the service levels (the "Service Levels") as may be agreed to from time to time in writing by DTI and the Funds (the "Service Level Agreement"). Failure to perform in a manner which equals or exceeds the Service Levels shall result in fee credits ("Fee Credits") or the Funds' right to terminate this Agreement, as set forth in the Service Level Agreement.

  • Events Excusing Performance Neither party shall be liable to the other party for failure to perform any of the services required herein in the event of strikes, lock-outs, calamities, acts of God, unavailability of supplies or other events over which that party has no control for so long as such events continue, and for a reasonable period of time thereafter.

  • Performance Requirements To receive the Monthly Capacity Payment in Section 8.1.2.1, Seller shall provide the Contract Capacity in each Peak Month for all on-peak hours as such peak hours are defined in Edison's Tariff Schedule No. TOU-8 on file with the Commission, except that Seller is entitled to a 20% allowance for Forced Outages for each Peak Month. Seller shall not be subject to such performance requirements for the remaining hours of the year.

  • Service Level Standards The parties agree to negotiate in good faith certain service level standards that, once agreed upon, will be incorporated into this Agreement subsequent to the effective date of the Agreement.

  • Service Level Service Provider will classify incidents at its own discretion. Such classifications shall be consistent with the priorities Service Provider set for itself as a recipient of services. Incidents classified using this methodology will be triaged as documented in Attachment A.

  • Suspension of Performance During the period that the performance by one of the parties of its obligations under this Agreement has been suspended by reason of an event of Force Majeure, the other party may likewise suspend the performance of all or part of its obligations hereunder to the extent that such suspension is commercially reasonable.

  • Performance Warranty Each Party hereby warrants and guarantees the performance of any and all rights and obligations of this Agreement by its Affiliates and Sublicensees.

  • Time for Performance Time is of the essence in this Agreement.

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