Performance Guarantees Sample Clauses
A Performance Guarantees clause sets out the obligations and assurances that a party will meet specified performance standards or outcomes under a contract. Typically, this clause details the metrics or benchmarks that must be achieved, the timeframe for meeting them, and the consequences if these standards are not met, such as penalties or the right to terminate the agreement. Its core function is to provide certainty and accountability, ensuring that the parties have clear expectations regarding performance and remedies if those expectations are not fulfilled.
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Performance Guarantees. Contractor agrees to provide the County the performance guarantees specified in Attachment A and to pay any penalties incurred in accordance with the terms of Attachment A.
Performance Guarantees a. Association will take whatever lawful steps are necessary to prevent any interruption of work in violation of this agreement, recognizing with Authority that all matters of controversy within the scope of this agreement shall be settled by the grievance procedure as per the existing Civil Service Rules of the Department.
b. Each party consents to, and waives any defenses against, an injunctive action by the other party to restrain any violation of this section.
Performance Guarantees. 1. Contractor shall offer competitive and aggregate Performance Service Guarantees values in which its organization takes full financial risk for unsatisfied guarantees.
2. Contractor shall place annual penalties at risk for successfully maintaining Service Performance Guarantees as set forth in Attachment D. The County reserves the right to allocate the percent of the penalties at risk for each performance guarantee with no more than 20% allocated to any one performance standard. Additionally, the County requires the ability to re-allocate the amount at risk for each performance standard on an annual basis, with 30 days notification prior to the measurement period start date.
3. Guarantees shall be reported according to the appropriate measurement either the County-specific or BOB. Reports shall show actual results for the current period versus: (a) prior periods and (b) the guaranteed standard. The County shall not be responsible for requesting reports.
4. Contractor agrees that member satisfaction, account satisfaction, network access and system availability shall be measured and reported to the County within 60 days of each calendar year. All other service performance guarantees shall be measured and reported directly to the County within 60 days from the close of each quarter.
5. When performance issues are identified, Contractor will agree to provide a corrective action plan within 72 hours of identification of the issue. Once agreed to by the County, the actions and timelines will be adhered to.
6. Penalties associated with Performance Guarantees shall be reported and reconciled 60 days from the end of the Contract year and penalties, if any, shall be based on annual aggregate results and paid within 90 days after the end of the Contract year, and the County will not be required to request payment.
7. Penalties, if any, shall be paid annually based upon annual aggregated results no later than 90 days after the end of the Contract year Annually, County will select a sampling of performance guarantees and request detailed back-up documentation to validate results. If Contractor failed to make timely penalties payment, than all monies due to County for Contractor’s failure to meet a Performance Standard set forth below shall be automatically deducted from any monies due or owing to Contractor from County.
8. The service performance standards indicating Book of Business (BOB) shall be measured by the Contractor for all Contractor customers utilizing the...
Performance Guarantees. TSP hereby guarantees that the TCS shall comply with each of the Performance Requirements set forth in TR Section PR, as demonstrated by the System Acceptance Test required to achieve System Acceptance to be conducted by TSP following the commencement of full Revenue Service on the Bridges, as specified in TR Section TP.
Performance Guarantees. Performance guarantees have the appropriate annual penalties listed by each guarantee as stated in Exhibit with a maximum amount of $ annually. The penalties, if any, are to be paid annually upon an annual review meeting within thirty (30) days after the end of the plan year.
Performance Guarantees. Vendor guarantees that the Plant shall achieve each of the following performance levels, as determined in accordance with Exhibit C – Performance Tests and Procedures (the “Performance Guarantees”):
Performance Guarantees. Any performance guarantees applicable to the Aircraft will be expressly included in this Agreement. Where performance guarantees are included in this Agreement other than within the Detail Specification, such guarantees will be treated as being incorporated in the Detail Specification by this reference.
Performance Guarantees. Seller guarantees to Buyer that the following Performance Guarantees shall be satisfied in accordance with Appendix F (Performance Tests):
(a) the LNG production capacity (measured in MTPA) for each individual Liquefaction Train, as measured and adjusted in accordance with Appendix F (Performance Tests), shall be equal to or greater than the Liquefaction Train Production Capacity Performance Guarantee on or before the Guaranteed Liquefaction Train Substantial Completion Date for such Liquefaction Train;
(b) the LNG production capacity (measured in lbs/hr) for the Liquefaction Train System, in its entirety, with all of the Liquefaction Trains operating simultaneously, as measured and adjusted in accordance with Appendix F (Performance Tests), shall be equal to or greater than the Liquefaction Train System Production Capacity Performance Guarantee on or before the Guaranteed Liquefaction Train System Substantial Completion Date;
(c) (i) the minimum performance guarantee with respect to power demand (measured in kWh/Tonne) for each individual Liquefaction Train, as measured and adjusted in accordance with Appendix F (Performance Tests), shall be less than or equal to the Liquefaction Train Power Demand Minimum Performance Guarantee on or before the Guaranteed Liquefaction Train Substantial Completion Date for such Liquefaction Train; and
Performance Guarantees. Insurer’s performance under this Contract is subject to the performance guarantees, including reporting requirements, and associated Financial Consequences established in Attachment C. The inclusion of performance guarantees and the related Financial Consequences in this Contract is intended to address unsatisfactory performance in the context of ongoing operations without resort to the Event of Default remedies set forth in section 44.10. If Insurer's performance falls below the minimum level of performance for the same performance guarantee set forth in this Contract for three (3) consecutive measurement periods or fails to meet a total of five (5) or more performance standards in six (6) out of twelve (12) months (regardless of standard), and such failure is not otherwise excused, then FHKC may follow the process outlined in section 44.6 in lieu of accepting any Financial Consequences.
Performance Guarantees. Within 60 days after Customer's acceptance of any Options, Boeing will provide to Customer revisions to the Performance Guarantees to reflect the effects, if any, of the incorporation of such Options on Aircraft performance. Such revisions will be incorporated by written amendment.