Performance Notices Clause Samples
A Performance Notices clause establishes the requirement for one party to formally notify the other if there are issues related to the performance of contractual obligations. Typically, this clause outlines the process for delivering such notices, including the method, timing, and content required, and may specify the consequences of failing to provide notice, such as waiving certain rights or remedies. Its core practical function is to ensure that both parties are promptly informed of performance problems, enabling timely resolution and minimizing the risk of disputes or contract breaches.
Performance Notices. Borrowers shall timely pay and perform each of the obligations of Borrowers under or in connection with each Lease and shall otherwise pay such sums and take such action as shall be necessary or required in order to maintain such Lease in full force and effect in accordance with its terms. Borrowers shall within five (5) Business Days following receipt thereof, furnish to Administrative Agent copies of (i) any notices given to any Borrower by the Tenant under any Lease (a) alleging the default by any Borrower in the timely payment or performance of such Borrower’s obligations under such Lease, (b) purporting to terminate or cancel such Lease prior to its stated expiration date, or (c) requiring or demanding the expenditure of any sum by any Borrower (or demanding the taking of any action by any Borrower), and (ii) any subsequent communications related thereto. Borrowers shall enforce all of the material terms, covenants and conditions contained in the Leases upon the part of the Tenant or any other party that is not any Borrower thereunder to be observed or performed. No Borrower shall permit or consent to any assignment or subletting of any Lease unless such assignment or subletting is consummated in accordance with the terms of such Lease, and no Borrower shall consent to any assignment or subletting of any Lease to a Required Tenant without the prior written consent of Administrative Agent. Borrowers agree that, during the existence of an Event of Default, Administrative Agent, in Administrative Agent’s sole discretion, may (following written notice to Borrowers) advance any sum or take any action that Administrative Agent reasonably believes is necessary or required to maintain the Leases in full force and effect, and all such sums advanced by Administrative Agent and/or Lender, together with all costs and expenses incurred by Administrative Agent and/or Lender in connection with any action taken by Administrative Agent and/or Lender pursuant to this Section 7.1.13, shall be due and payable by Borrowers to Administrative Agent not later than ten (10) days following Administrative Agent’s demand therefor, shall bear interest at the Default Rate from the date such sums are advanced by Administrative Agent and/or Lender until the date such sums (together with the applicable interest thereon 153251886 Loan Agreement (NY Loan) - GTJ Portfolio Refinancing - AIG at the Default Rate) are paid by Borrowers to Administrative Agent, and shall be part of the Secur...
Performance Notices. AT may, at its discretion, issue a notice (a Performance Notice) to the Operator within three months after the occurrence of each of the following events: a the Operator’s service reliability performance in any month falls below the ‘fail’ threshold specified in the Performance Regime Schedule for service reliability; b the Operator’s service punctuality performance in any month falls below the ‘fail’ threshold specified in the Performance Regime Schedule for service punctuality; c the level of customer satisfaction achieved by the Operator in any Quarter, as determined by a customer satisfaction survey conducted under the Performance Regime Schedule, falls below the ‘fail’ threshold specified in the Performance Regime Schedule for customer satisfaction; d AT, or an expert appointed under the incident management regime set out in the Performance Regime Schedule, determines that a significant incident has occurred for which the Operator should pay a Rebate of not less than or Passenger Services Agreement e AT issues a written notice to the Operator requesting the Operator to remedy a Significant Breach and the Operator fails within 10 Business Days after the date on which such notice is given to: i remedy such breach; and ii implement effective measures that ensure such a breach does not recur.
Performance Notices. (a) Supplier shall notify Customer of any known contamination or non-conformity that may impact the Product within (3) Business Days of receipt by Supplier of notice of same.
(b) Supplier shall notify Customer within one (1) Business Day if Supplier becomes the subject of any regulatory investigations or actions initiated by any governmental, administrative or regulatory agency relating to a Product or to Supplier’s performance or ability to perform under the Agreement, or receives any initial contact or communication from any governmental, administrative or regulatory agency relating to a Product or to Supplier’s performance or ability to perform under the Agreement.
Performance Notices. The Chief of Police, and subject to the review of the Chief of Police, the Lieutenant and Sergeant, may issue Performance Notices to employees at any time for (1) favorable performance/behavior (issued on green paper) or (2) unfavorable performance/behavior (issued on yellow paper).
i. Performance Notices shall be categorized as “major” or “minor” and shall be retained in the employee’s personnel file and used, in part, during the Evaluation process authorized in paragraphs c and d of this subsection.
1. A “major” unfavorable Performance Notice shall be considered a serious matter and shall typically indicate an ongoing performance issue, an issue related to life and safety or serious behavior issue such as insubordination or ethics violations.