Performance Assurance Services Program Term Clause Samples

The Performance Assurance Services Program Term clause defines the duration and conditions under which performance assurance services are provided under an agreement. Typically, this clause specifies the start and end dates of the program, outlines any renewal or extension options, and may detail the circumstances under which the term can be modified or terminated. By clearly establishing the timeframe for these services, the clause ensures both parties understand their obligations and the period during which performance standards must be maintained, thereby reducing ambiguity and potential disputes over service expectations.
Performance Assurance Services Program Term. The term of the PASP shall commence on the Guarantee Date and shall extend for either: (a) the term of the Performance Guarantee Period where multi-year obligations are allowed; or (b) for twelve