Common use of Reliability Clause in Contracts

Reliability. The reliability of the Storage Facility in any quarter shall be measured in terms of the number of Forced Closures occurring in the Storage Facility (the “Reliability”), but only if it is caused by any event other than Force Majeure, and the Concessionaire shall procure Reliability such that there are no more than 1 (one) Forced Closure in the Storage Facility in each quarter. In the event of a lower Reliability during any quarter, the Concessionaire shall pay Damages in accordance with the provisions of Article 15.

Appears in 6 contracts

Samples: Concession Agreement, Concession Agreement, Concession Agreement

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.