{"component": "clause", "props": {"groups": [{"size": 17, "snippet": "Lessee shall have the right to terminate this Agreement with respect to any Hotel (for the purposes of this Section 2.03(b)(i) called \u201cSubject Hotel\u201d), subject to the payment of a termination fee as set forth in subsection (ii) below, in the event of the occurrence of the following (collectively herein called, the \u201cPerformance Test\u201d):\n(1) If for any Fiscal Year (a) a Subject Hotel\u2019s Gross Operating Profit Margin for such Fiscal Year is less than seventy-five percent (75%) of the average Gross Operating Profit Margin of comparable hotels in similar markets and geographic locations to the applicable Hotel as reasonably determined by Lessee and Manager, and (b) such Subject Hotel\u2019s REVPAR Yield Penetration is less than the Targeted REVPAR Yield Penetration for such Fiscal Year (herein (a) and (b) collectively called \u201cPerformance Failure\u201d); then\n(2) Manager shall have a period of two (2) years, commencing with the next ensuing Fiscal Year (the \u201cPerformance Cure Period\u201d), to cure the Performance Failure after Manager\u2019s receipt of Notice from Lessee of such Performance Failure and Lessee\u2019s intent to terminate this Agreement with respect to the Subject Hotel if the Performance Failure is not cured within such Performance Cure Period; and\n(3) If after the first full Fiscal Year during the Performance Cure Period, the Performance Failure remains uncured, then upon written Notice to Manager by Lessee, Manager shall engage a consultant reasonably acceptable to Manager and Lessee (with significant experience in the hotel lodging industry) to make a written determination (within forty-five (45) days of such Notice) as to whether another management company (with comparable breadth of knowledge and experience as any of the hotel management companies owned and/or controlled by \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587. and/or \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587, including with respect to number and type of hotels managed in similar markets and geographical areas) could manage the Subject Hotel in a materially more efficient manner. If such consultant determination is in the negative, then Manager will be deemed not to be in default under the Performance Test. If such consultant determination is in the affirmative, then Manager agrees to engage such consultant (such cost and expense to be shared by Lessee and Manager equally) to assist Manager during the second Fiscal Year of the Performance Cure Period with the cure of the Performance Failure; and\n(4) If after the end of the Performance Cure Period, the Performance Failure remains uncured and the consultant again makes a written determination that another management company (with comparable breadth of knowledge and experience as any of the hotel management companies owned and/or controlled by \u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587, \u2587\u2587. and/or \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587, including with respect to number and type of hotels managed in similar markets and geographical areas) could manage the Subject Hotel in a materially more efficient manner, then Lessee may, at its election, terminate this Agreement upon forty-five (45) days\u2019 prior Notice to Manager.", "samples": [{"hash": "fiEJUTLdcgK", "uri": "/contracts/fiEJUTLdcgK#performance-test", "label": "Master Management Agreement", "score": 31.3408622742, "published": true}, {"hash": "51bbkf4ebxW", "uri": "/contracts/51bbkf4ebxW#performance-test", "label": "Loan Agreement (Ashford Hospitality Prime, Inc.)", "score": 28.0636558533, "published": true}, {"hash": "g6PSkh7Hm8J", "uri": "/contracts/g6PSkh7Hm8J#performance-test", "label": "Master Management Agreement (Braemar Hotels & Resorts Inc.)", "score": 27.6160163879, "published": true}], "snippet_links": [{"key": "lessee-shall", "type": "clause", "offset": [0, 12]}, {"key": "right-to-terminate-this-agreement", "type": "clause", "offset": [22, 55]}, {"key": "with-respect-to", "type": "clause", "offset": [56, 71]}, {"key": "for-the-purposes-of", "type": "clause", "offset": [83, 102]}, {"key": "subject-hotel", "type": "definition", "offset": [135, 148]}, {"key": "payment-of", "type": "definition", "offset": [167, 177]}, {"key": "termination-fee", "type": "definition", "offset": [180, 195]}, {"key": "in-the-event-of", "type": "definition", "offset": [235, 250]}, {"key": "gross-operating-profit-margin", "type": "definition", "offset": [386, 415]}, {"key": "five-percent", "type": "clause", "offset": [458, 470]}, {"key": "the-applicable", "type": "clause", "offset": [590, 604]}, {"key": "by-lessee", "type": "clause", "offset": [636, 645]}, {"key": "targeted-revpar-yield-penetration", "type": "definition", "offset": [730, 763]}, {"key": "performance-failure", "type": "definition", "offset": [826, 845]}, {"key": "period-of", "type": "clause", "offset": [879, 888]}, {"key": "commencing-with-the", "type": "clause", "offset": [904, 923]}, {"key": "ensuing-fiscal-year", "type": "definition", "offset": [929, 948]}, {"key": "performance-cure-period", "type": "definition", "offset": [955, 978]}, {"key": "the-performance", "type": "clause", "offset": [990, 1005]}, {"key": "receipt-of-notice", "type": "definition", "offset": [1030, 1047]}, {"key": "intent-to-terminate", "type": "clause", "offset": [1101, 1120]}, {"key": "the-subject", "type": "clause", "offset": [1152, 1163]}, {"key": "full-fiscal-year", "type": "definition", "offset": [1274, 1290]}, {"key": "notice-to-manager", "type": "clause", "offset": [1386, 1403]}, {"key": "the-hotel", "type": "clause", "offset": [1525, 1534]}, {"key": "written-determination", "type": "definition", "offset": [1563, 1584]}, {"key": "management-company", "type": "definition", "offset": [1652, 1670]}, {"key": "knowledge-and-experience", "type": "definition", "offset": [1699, 1723]}, {"key": "management-companies", "type": "clause", "offset": [1744, 1764]}, {"key": "to-number", "type": "clause", "offset": [1857, 1866]}, {"key": "type-of", "type": "definition", "offset": [1871, 1878]}, {"key": "geographical-areas", "type": "clause", "offset": [1917, 1935]}, {"key": "default-under", "type": "clause", "offset": [2101, 2114]}, {"key": "agrees-to", "type": "clause", "offset": [2206, 2215]}, {"key": "cost-and-expense", "type": "clause", "offset": [2245, 2261]}, {"key": "to-assist", "type": "clause", "offset": [2306, 2315]}, {"key": "the-consultant", "type": "definition", "offset": [2528, 2542]}, {"key": "prior-notice", "type": "definition", "offset": [3033, 3045]}], "hash": "752bc4ca205c21573ed9080c5142f06a", "id": 1}, {"size": 3, "snippet": "No Performance Test is currently being breached.", "samples": [{"hash": "ewdNQN3dtYh", "uri": "/contracts/ewdNQN3dtYh#performance-test", "label": "Loan and Security Agreement (Hill-Rom Holdings, Inc.)", "score": 31.3189601898, "published": true}, {"hash": "1JvzxmgHEUx", "uri": "/contracts/1JvzxmgHEUx#performance-test", "label": "Loan and Security Agreement (Hill-Rom Holdings, Inc.)", "score": 30.3333339691, "published": true}, {"hash": "gyIndNdMbgI", "uri": "/contracts/gyIndNdMbgI#performance-test", "label": "Loan and Security Agreement (Hill-Rom Holdings, Inc.)", "score": 27.3367557526, "published": true}], "snippet_links": [{"key": "no-performance", "type": "clause", "offset": [0, 14]}], "hash": "4871f32d2870f2f1543a36ed1a756e4c", "id": 7}, {"size": 4, "snippet": "(6.1) After the plant has been started up per Article 5.2 and has reached nameplate capacity, but no longer than 90 (ninety) days from the date LICENSEE has completed the required modifications per Article 5.1, LICENSOR shall notify LICENSEE that the Plant is ready for the Performance Test.\n(6.2) LICENSEE shall then have the obligation of calling for the first Performance Test by setting a date for same not less than fourteen (14) days nor more than thirty (30) days from the date of the Notice from LICENSOR mentioned above. Delays caused by other portions of the plant outside the \u201cBattery Limits\u201d of the Licensed Process shall not be deemed to constitute a material cause for a delay of Performance Test, unless LICENSOR accepts such a delay.\n(6.3) The Performance Test shall be conducted by LICENSEE according to instructions by LICENSOR and the guarantee made in Article 4 shall be deemed to have been met as soon as the Plant has satisfied the requirements of the Performance Test.\n(6.4) LICENSOR shall have the right to conduct two (2) Performance Tests at LICENSEE\u2019S expense. Thereafter, LICENSOR shall have the right and LICENSEE shall permit LICENSOR to conduct as many Performance Tests as LICENSOR deems necessary, at LICENSOR\u2019S expense, provided LICENSEE shall not be obligated to permit a Performance Test 180 days beyond the date of the first test; further provided, however, that such time limit shall be exclusive of periods of delay caused by LICENSEE or by matters beyond the control of either party.\n(6.5) Within a reasonable period of time after completion of each Performance Test, LICENSOR shall submit to LICENSEE in writing the results thereof, and shall certify in writing whether the guarantee relating to such Performance Test has been met. Such guarantee shall be deemed to have been met if LICENSOR certified that the Performance Test was successful and if LICENSEE, within 30 (thirty) days after notification by LICENSOR of the results of such Performance Test, does not respond in writing to LICENSOR in what respect, in LICENSEE\u2019S opinion, such guarantee has not been met.\n(6.6) LICENSEE shall furnish, at no cost to LICENSOR, Fresh Substrate Charge, yeast culture, enzymes, chemicals, utilities, operating and maintenance personnel, maintenance materials and necessary services, such as adequate laboratory inspection, operating supplies as are required for the operation of the Plant in order to meet the guarantees as herein made. LICENSEE will be responsible to process \u201cfresh substrate charge\u201d at a rate as required by LICENSOR during the Performance Test, provided that such rate shall not exceed 115% of daily capacity, as specified in Schedule B, Product Guarantee.\n(6.7) Failure of LICENSEE to call for the Performance Test within a period of 3 (three) years after the effective date of this Agreement or 6 (six) months after start of commercial operation, whichever comes earlier, or to perform any of its other obligations under this Article 6 shall constitute a waiver of the requirement of a Performance Test or LICENSEE may voluntarily waive the requirement for such test, in which either event shall result in LICENSOR\u2019S guarantees being deemed met, as per Article 3.2 of this Agreement.", "samples": [{"hash": "kL9BR4LNLC7", "uri": "/contracts/kL9BR4LNLC7#performance-test", "label": "Process Guarantee (Agassiz Energy, LLC)", "score": 21.0, "published": true}, {"hash": "jQluA23P1xz", "uri": "/contracts/jQluA23P1xz#performance-test", "label": "Process Guarantee (Agassiz Energy, LLC)", "score": 21.0, "published": true}, {"hash": "dkLW3aNt8tU", "uri": "/contracts/dkLW3aNt8tU#performance-test", "label": "Process Guarantee (Agassiz Energy, LLC)", "score": 21.0, "published": true}], "snippet_links": [{"key": "nameplate-capacity", "type": "definition", "offset": [74, 92]}, {"key": "required-modifications", "type": "definition", "offset": [171, 193]}, {"key": "the-performance", "type": "clause", "offset": [270, 285]}, {"key": "licensee-shall", "type": "clause", "offset": [298, 312]}, {"key": "the-obligation", "type": "clause", "offset": [323, 337]}, {"key": "the-notice", "type": "clause", "offset": [488, 498]}, {"key": "caused-by", "type": "clause", "offset": [537, 546]}, {"key": "battery-limits", "type": "definition", "offset": [588, 602]}, {"key": "licensed-process", "type": "clause", "offset": [611, 627]}, {"key": "material-cause", "type": "definition", "offset": [664, 678]}, {"key": "delay-of-performance", "type": "clause", "offset": [685, 705]}, {"key": "by-licensee", "type": "clause", "offset": [796, 807]}, {"key": "according-to", "type": "definition", "offset": [808, 820]}, {"key": "by-licensor", "type": "clause", "offset": [834, 845]}, {"key": "article-4", "type": "clause", "offset": [872, 881]}, {"key": "requirements-of-the", "type": "clause", "offset": [954, 973]}, {"key": "right-to-conduct", "type": "clause", "offset": [1022, 1038]}, {"key": "performance-tests", "type": "clause", "offset": [1047, 1064]}, {"key": "time-limit", "type": "definition", "offset": [1405, 1415]}, {"key": "periods-of", "type": "clause", "offset": [1438, 1448]}, {"key": "control-of", "type": "definition", "offset": [1499, 1509]}, {"key": "either-party", "type": "definition", "offset": [1510, 1522]}, {"key": "reasonable-period-of-time", "type": "definition", "offset": [1539, 1564]}, {"key": "completion-of", "type": "definition", "offset": [1571, 1584]}, {"key": "to-licensee", "type": "definition", "offset": [1630, 1641]}, {"key": "relating-to", "type": "definition", "offset": [1725, 1736]}, {"key": "after-notification", "type": "clause", "offset": [1925, 1943]}, {"key": "respond-in-writing", "type": "definition", "offset": [2006, 2024]}, {"key": "to-licensor", "type": "definition", "offset": [2025, 2036]}, {"key": "at-no-cost", "type": "definition", "offset": [2140, 2150]}, {"key": "maintenance-personnel", "type": "definition", "offset": [2248, 2269]}, {"key": "maintenance-materials", "type": "definition", "offset": [2271, 2292]}, {"key": "necessary-services", "type": "definition", "offset": [2297, 2315]}, {"key": "laboratory-inspection", "type": "definition", "offset": [2334, 2355]}, {"key": "operating-supplies", "type": "clause", "offset": [2357, 2375]}, {"key": "operation-of-the-plant", "type": "clause", "offset": [2400, 2422]}, {"key": "in-order-to", "type": "clause", "offset": [2423, 2434]}, {"key": "the-guarantees", "type": "clause", "offset": [2440, 2454]}, {"key": "licensee-will", "type": "clause", "offset": [2471, 2484]}, {"key": "responsible-to", "type": "clause", "offset": [2488, 2502]}, {"key": "as-required-by", "type": "clause", "offset": [2546, 2560]}, {"key": "provided-that", "type": "definition", "offset": [2599, 2612]}, {"key": "daily-capacity", "type": "clause", "offset": [2648, 2662]}, {"key": "as-specified", "type": "clause", "offset": [2664, 2676]}, {"key": "schedule-b", "type": "definition", "offset": [2680, 2690]}, {"key": "product-guarantee", "type": "definition", "offset": [2692, 2709]}, {"key": "of-licensee", "type": "clause", "offset": [2725, 2736]}, {"key": "agreement-or", "type": "definition", "offset": [2838, 2850]}, {"key": "commercial-operation", "type": "clause", "offset": [2881, 2901]}, {"key": "other-obligations", "type": "clause", "offset": [2953, 2970]}, {"key": "article-6", "type": "definition", "offset": [2982, 2991]}, {"key": "waiver-of-the", "type": "clause", "offset": [3011, 3024]}, {"key": "licensee-may", "type": "clause", "offset": [3062, 3074]}], "hash": "70be80d5c9f45ac9cfa510a66f30e863", "id": 6}, {"size": 2, "snippet": "The \u2587\u2587\u2587 Facility shall have successfully completed the Performance Test.", "samples": [{"hash": "iMjEZGetLrp", "uri": "/contracts/iMjEZGetLrp#performance-test", "label": "Asset Purchase Agreement (Huntsman International LLC)", "score": 21.0, "published": true}, {"hash": "4WQAO3CoqtU", "uri": "/contracts/4WQAO3CoqtU#performance-test", "label": "Asset Purchase Agreement (Huntsman International LLC)", "score": 21.0, "published": true}], "snippet_links": [{"key": "the-\u2587", "type": "clause", "offset": [0, 5]}, {"key": "facility-shall", "type": "clause", "offset": [8, 22]}, {"key": "successfully-completed", "type": "definition", "offset": [28, 50]}, {"key": "the-performance", "type": "clause", "offset": [51, 66]}], "hash": "270b13bd43eab01a6e844858f530b9d9", "id": 10}, {"size": 6, "snippet": "6.6.1. Tyres retreaded to comply with this Regulation shall be capable of meeting the load/speed endurance test as specified in Annex 7 to this Regulation.\n6.6.2. A retreaded tyre which after undergoing the load/speed endurance test does not exhibit any tread separation, ply separation, cord separation, chunking or broken cords shall be deemed to have passed the test.\n6.6.3. The outer diameter of the tyre, measured six hours after the load/speed endurance test, must not differ by more than \u00b1 3.5 per cent from the outer diameter as measured before the test.", "samples": [{"hash": "kVJnoapqyUO", "uri": "/contracts/kVJnoapqyUO#performance-test", "label": "Agreement Concerning the Adoption of Uniform Technical Prescriptions for Wheeled Vehicles", "score": 26.4496917725, "published": true}, {"hash": "kS5Y32PpmLR", "uri": "/contracts/kS5Y32PpmLR#performance-test", "label": "Agreement Concerning the Adoption of Uniform Technical Prescriptions for Wheeled Vehicles", "score": 21.406337738, "published": true}, {"hash": "dychtWGylJU", "uri": "/contracts/dychtWGylJU#performance-test", "label": "Agreement Concerning the Adoption of Uniform Technical Prescriptions for Wheeled Vehicles", "score": 21.4050979614, "published": true}], "snippet_links": [{"key": "comply-with", "type": "definition", "offset": [26, 37]}, {"key": "this-regulation", "type": "definition", "offset": [38, 53]}, {"key": "capable-of", "type": "definition", "offset": [63, 73]}, {"key": "endurance-test", "type": "clause", "offset": [97, 111]}, {"key": "as-specified", "type": "clause", "offset": [112, 124]}, {"key": "annex-7", "type": "definition", "offset": [128, 135]}, {"key": "tread-separation", "type": "definition", "offset": [254, 270]}, {"key": "ply-separation", "type": "definition", "offset": [272, 286]}, {"key": "cord-separation", "type": "definition", "offset": [288, 303]}, {"key": "outer-diameter", "type": "clause", "offset": [382, 396]}, {"key": "per-cent", "type": "definition", "offset": [501, 509]}], "hash": "0ab28371ec175aaeb5ae28e12c67d8ee", "id": 4}, {"size": 4, "snippet": "Commencing on the sixth (6th) full fiscal year following the closing (\u201cTest Trigger Date\u201d), New Propco may terminate the Management Agreement for a Property without payment of any termination fee if the Property has for two (2) consecutive fiscal years following the Test Trigger Date (a \u201cTesting Period\u201d):", "samples": [{"hash": "kpTXrsFforG", "uri": "/contracts/kpTXrsFforG#performance-test", "label": "Memorandum of Understanding (Station Casinos Inc)", "score": 19.3805618286, "published": true}, {"hash": "2G6JkVwtY4j", "uri": "/contracts/2G6JkVwtY4j#performance-test", "label": "Plan Support Agreement (Station Casinos Inc)", "score": 19.3394927979, "published": true}, {"hash": "ktM4RrZ6CHN", "uri": "/contracts/ktM4RrZ6CHN#performance-test", "label": "Memorandum of Understanding (Station Casinos Inc)", "score": 19.238193512, "published": true}], "snippet_links": [{"key": "commencing-on-the", "type": "clause", "offset": [0, 17]}, {"key": "full-fiscal-year", "type": "definition", "offset": [30, 46]}, {"key": "following-the-closing", "type": "clause", "offset": [47, 68]}, {"key": "trigger-date", "type": "clause", "offset": [76, 88]}, {"key": "new-propco", "type": "definition", "offset": [92, 102]}, {"key": "agreement-for", "type": "clause", "offset": [132, 145]}, {"key": "payment-of", "type": "definition", "offset": [165, 175]}, {"key": "termination-fee", "type": "definition", "offset": [180, 195]}, {"key": "property-has", "type": "definition", "offset": [203, 215]}, {"key": "fiscal-years", "type": "clause", "offset": [240, 252]}, {"key": "testing-period", "type": "clause", "offset": [289, 303]}], "hash": "5cda93981385d09141a55cac6dbb6ced", "id": 5}, {"size": 7, "snippet": "The contractor shall give a satisfactory performance test of the entire installation as per standard specifications before the work is finally accepted and nothing extra whatsoever shall be payable to the contractor for this test.", "samples": [{"hash": "d6RNTjWbG7j", "uri": "/contracts/d6RNTjWbG7j#performance-test", "label": "Comprehensive Maintenance Contract", "score": 26.7960300446, "published": true}, {"hash": "kqimbHj1ZSQ", "uri": "/contracts/kqimbHj1ZSQ#performance-test", "label": "Comprehensive Maintenance Contract (Cmc)", "score": 26.7111568451, "published": true}, {"hash": "hg5Rp1aXdEi", "uri": "/contracts/hg5Rp1aXdEi#performance-test", "label": "Construction Contract", "score": 25.729637146, "published": true}], "snippet_links": [{"key": "the-contractor-shall", "type": "clause", "offset": [0, 20]}, {"key": "satisfactory-performance", "type": "definition", "offset": [28, 52]}, {"key": "standard-specifications", "type": "definition", "offset": [92, 115]}, {"key": "the-work", "type": "definition", "offset": [123, 131]}, {"key": "to-the-contractor", "type": "clause", "offset": [198, 215]}], "hash": "0db1b1b6c18f7d3a654cf5e7dfdecb0c", "id": 3}, {"size": 3, "snippet": "Upon submission of the Completion Certificate, the WDO shall be required to carry out tests on the Washery as specified below, at the cost and expense of the WDO.\n16.3.1 The WDO shall notify the Authority of the readiness of the Washery for conducting performance tests and indicate a trial window of 7 (seven) Days during which the trial runs shall be conducted.\n16.3.2 The trial runs shall be conducted in the presence of the designated Engineer in Charge of Authority or their authorized representative.\n16.3.3 In a continuous period of 72 (seventy-two) hours, the Washery should demonstrate achievement of the performance criteria - minimum Throughput of 16,500 (sixteen thousand and five hundred) tonnes b) the Washery operations during the test period should conform to the DPR submitted by the WDO along with the Completion Certificate; and c) the Engineer in Charge may conduct a physical verification of the assets /P&M present at the Washery and tally them with the provisions made in the DPR submitted with the Completion Certificate.\n16.3.4 The Authority shall ensure to supply required quantity of coal corresponding to 7 (seven) Days of ACQ to the WDO for the trial runs.\n16.3.5 In case the WDO fails to meet the performance criteria then the Engineer in Charge or his authorized representative may establish any defects or deficiencies in the Washery and WDO shall take such remedial measures as would be necessary to address the defects or deficiencies and notify the Authority of its readiness for conduct of performance tests. The Engineer in Charge of the Authority will issue a Performance Certificate only upon satisfactory completion of the processes set out in Clause 16.3.", "samples": [{"hash": "47r8gGsNpLh", "uri": "/contracts/47r8gGsNpLh#performance-test", "label": "Washery Development and Operations Agreement", "score": 35.6674842834, "published": true}, {"hash": "lfZDrxAXe3C", "uri": "/contracts/lfZDrxAXe3C#performance-test", "label": "Washery Development and Operations Agreement", "score": 35.1905136108, "published": true}], "snippet_links": [{"key": "the-completion-certificate", "type": "definition", "offset": [19, 45]}, {"key": "as-specified", "type": "clause", "offset": [107, 119]}, {"key": "cost-and-expense", "type": "clause", "offset": [134, 150]}, {"key": "notify-the", "type": "clause", "offset": [184, 194]}, {"key": "authority-of-the", "type": "clause", "offset": [195, 211]}, {"key": "performance-tests", "type": "clause", "offset": [252, 269]}, {"key": "trial-runs", "type": "clause", "offset": [333, 343]}, {"key": "in-the-presence-of", "type": "clause", "offset": [405, 423]}, {"key": "designated-engineer", "type": "definition", "offset": [428, 447]}, {"key": "authorized-representative", "type": "clause", "offset": [480, 505]}, {"key": "period-of", "type": "clause", "offset": [530, 539]}, {"key": "performance-criteria", "type": "definition", "offset": [614, 634]}, {"key": "test-period", "type": "definition", "offset": [746, 757]}, {"key": "submitted-by", "type": "clause", "offset": [784, 796]}, {"key": "the-engineer-in-charge", "type": "definition", "offset": [851, 873]}, {"key": "the-assets", "type": "clause", "offset": [913, 923]}, {"key": "the-provisions", "type": "clause", "offset": [972, 986]}, {"key": "quantity-of", "type": "clause", "offset": [1099, 1110]}, {"key": "in-case", "type": "clause", "offset": [1193, 1200]}, {"key": "defects-or-deficiencies", "type": "definition", "offset": [1327, 1350]}, {"key": "remedial-measures", "type": "clause", "offset": [1390, 1407]}, {"key": "conduct-of", "type": "clause", "offset": [1515, 1525]}, {"key": "the-authority-will", "type": "clause", "offset": [1571, 1589]}, {"key": "performance-certificate", "type": "definition", "offset": [1598, 1621]}, {"key": "completion-of-the", "type": "clause", "offset": [1645, 1662]}, {"key": "set-out", "type": "definition", "offset": [1673, 1680]}, {"key": "in-clause", "type": "clause", "offset": [1681, 1690]}], "hash": "b0db5a3d2314afd4835b3917cca5ac61", "id": 8}, {"size": 9, "snippet": "The Contractor shall be responsible for carrying out performance tests on all equipment supplied by him and/or procured by the Purchaser as indicated in the Technical specifications covered in this Tender document, in the presence of the Purchaser\u2019s representative. This responsibility shall rest with the Contractor regardless of whether the erection has been carried out by him or any other agency. On the satisfactory completion of the performance test, the Purchaser will issue an Acceptance certificate on written request from the Supplier. The date of the acceptance certificate shall be considered to be the date of satisfactory completion of the performance test.", "samples": [{"hash": "buOQufWAKhF", "uri": "/contracts/buOQufWAKhF#performance-test", "label": "Tender Document", "score": 26.1937026978, "published": true}, {"hash": "hroKmYPzyC3", "uri": "/contracts/hroKmYPzyC3#performance-test", "label": "Tender Agreement", "score": 25.9733066559, "published": true}, {"hash": "9yfq8rLaqWP", "uri": "/contracts/9yfq8rLaqWP#performance-test", "label": "Tender Document", "score": 25.9336071014, "published": true}], "snippet_links": [{"key": "the-contractor-shall", "type": "clause", "offset": [0, 20]}, {"key": "responsible-for", "type": "clause", "offset": [24, 39]}, {"key": "performance-tests", "type": "clause", "offset": [53, 70]}, {"key": "equipment-supplied", "type": "clause", "offset": [78, 96]}, {"key": "by-the-purchaser", "type": "clause", "offset": [120, 136]}, {"key": "as-indicated", "type": "definition", "offset": [137, 149]}, {"key": "technical-specifications", "type": "definition", "offset": [157, 181]}, {"key": "tender-document", "type": "definition", "offset": [198, 213]}, {"key": "of-the-purchaser", "type": "clause", "offset": [231, 247]}, {"key": "other-agency", "type": "definition", "offset": [387, 399]}, {"key": "the-performance", "type": "clause", "offset": [435, 450]}, {"key": "the-purchaser-will", "type": "clause", "offset": [457, 475]}, {"key": "acceptance-certificate", "type": "clause", "offset": [485, 507]}, {"key": "written-request", "type": "definition", "offset": [511, 526]}, {"key": "the-supplier", "type": "definition", "offset": [532, 544]}, {"key": "date-of", "type": "clause", "offset": [550, 557]}, {"key": "the-acceptance", "type": "clause", "offset": [558, 572]}], "hash": "d79da08f675925c6fa61e2b0f89df445", "id": 2}, {"size": 2, "snippet": "If for any two consecutive six-month periods (each six-month period is an \u201cOperating Period\u201d) beginning with the first day of the second Full Operating Year (as defined in the Management Contract) (each two consecutive six- month period is a \"Testing Period\"), each of the following occurs in both of such Operating Periods:\n(a) the aggregate Gross Operating Profit (as defined in the Management Contract) achieved by the Properties for each Operating Period is less than 90% of the aggregate Gross Operating Profit set forth in the Approved Business Plan for such Operating Period, and (b) the average RevPAR for all of the Properties for each such Operating Period is less than 90% of the average RevPAR for hotels in the Competitive Set for the same Operating Period (collectively, the \"Performance Test\"). If no Approved Business Plan has been approved by the Parties for any Operating Year (as defined in the Management Contract), the applicable Approved Business Plan for purposes of computing the Performance Test shall be that from the preceding Operating Year. As promptly as reasonably possible after the end of each Testing Period, the Managing Member shall obtain the relevant RevPAR reports (i.e., STAR Reports from STR Global) and provide to the Members such RevPAR reports and the Gross Operating Profit information needed to confirm whether the Performance Test has been achieved for such Testing Period. If the Performance Test is not achieved for any Testing Period, then the Company (subject to the provisions regarding decisions of the Board as set forth in Section 9.2.7(b)) may exercise its right to cause the termination of the Management Contracts for all of the Properties by delivering a notice of termination to Management Company given within sixty (60) days after receipt by the Company of the certified financial statements for the Properties for the second such Operating Period, specifying a termination date not less than sixty (60) days nor more than one hundred- twenty (120) days after the delivery of such notice. Notwithstanding the foregoing, the Company's right to cause termination of Management Contracts under this Section 9.2.7(c) shall not be exercisable if the applicable level of aggregate Gross Operating Profit or the applicable relative RevPAR results is not achieved as a result of: (i) Force Majeure (as defined in the Management Contract) affecting the Properties, (ii) a failure of Owners to fund a Funds Request that Section 5.5.2 of the Management Contract requires Owners to fund, or (iii) the performance of approved Building Capital Improvements (as defined in the Management Contract) or ROI Capital Improvements (as defined in the Management Contract) adversely affecting a material portion of the income generating areas of the Properties or any other area material to the operation of the Properties ).", "samples": [{"hash": "j5SEUo2d0Iz", "uri": "/contracts/j5SEUo2d0Iz#performance-test", "label": "Membership Interest Purchase Agreement (Red Lion Hotels CORP)", "score": 26.3470230103, "published": true}, {"hash": "93BlfUOyrwn", "uri": "/contracts/93BlfUOyrwn#performance-test", "label": "Limited Liability Company Agreement (Red Lion Hotels CORP)", "score": 24.3470230103, "published": true}], "snippet_links": [{"key": "beginning-with-the", "type": "clause", "offset": [94, 112]}, {"key": "day-of", "type": "clause", "offset": [119, 125]}, {"key": "operating-year", "type": "definition", "offset": [142, 156]}, {"key": "testing-period", "type": "clause", "offset": [243, 257]}, {"key": "operating-periods", "type": "definition", "offset": [306, 323]}, {"key": "gross-operating-profit", "type": "definition", "offset": [343, 365]}, {"key": "approved-business-plan", "type": "definition", "offset": [533, 555]}, {"key": "competitive-set", "type": "definition", "offset": [724, 739]}, {"key": "approved-by-the-parties", "type": "definition", "offset": [848, 871]}, {"key": "the-applicable", "type": "clause", "offset": [936, 950]}, {"key": "for-purposes-of", "type": "clause", "offset": 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"Survival"], ["contractors-pollution-liability-insurance", "Contractors Pollution Liability Insurance"]], "title": "Performance Test", "id": "performance-test", "related": [["performance-tests", "Performance Tests", "<strong>Performance Tests</strong>"], ["performance-testing", "Performance Testing", "Performance Testing"], ["performance-review", "Performance Review", "Performance Review"], ["statewide-achievement-testing", "STATEWIDE ACHIEVEMENT TESTING", "STATEWIDE ACHIEVEMENT TESTING"], ["performance-standard", "Performance Standard", "Performance Standard"]], "related_snippets": [], "updated": "2026-03-11T06:07:41+00:00", "also_ask": ["What objective metrics should be included to ensure the Performance Test is measurable and enforceable?", "How can the Performance Test be structured to minimize manipulation or subjective interpretation?", "What are the most common negotiation points or carve-outs related to Performance Test clauses?", "How do courts typically assess the reasonableness and sufficiency of Performance Test provisions?", "How does this Performance Test compare to industry standards or similar clauses in competitor contracts?"], "drafting_tip": "Specify performance metrics, set clear testing procedures, and define acceptance criteria to ensure objective evaluation and minimize disputes.", "explanation": "A Performance Test clause sets out the criteria and procedures for evaluating whether a product, service, or system meets specified performance standards. Typically, it outlines the methods, metrics, and timelines for conducting tests, and may specify who is responsible for performing and witnessing the tests. This clause ensures that deliverables function as intended before acceptance, thereby reducing the risk of disputes over quality or functionality."}, "json": true, "cursor": ""}}