Remedies for Failed Performance Clause Samples

Remedies for Failed Performance. (i) If, during any calendar month, FDR fails six (6) or more of the Performance Guidelines, then such failure shall be considered a "Failed Month" for purposes of this Section 2.10(b). (ii) If FDR has three (3) or more consecutive Failed Months, Customer may, at its option and upon prior written notice to FDR, initiate a cure period during which FDR shall use all reasonable efforts to cure the failed Performance Guidelines (the "Cure Period"), which Cure Period shall remain in effect for three (3) calendar months from the date of such notice. (iii) If, during the Cure Period, FDR has a Failed Month, then Customer may, at its option, elect to terminate this Agreement upon providing FDR written notice of such intention to terminate. Such termination shall become effective on a date specified by Customer, which date shall not be later than twelve (12) calendar months after Customer's delivery to FDR of written notice of its intention to so terminate, provided that FDR will be given a minimum of one hundred eighty (180) days to perform the Deconversion. (iv) In the event FDR does not have a Failed Month during the Cure Period, then Customer may not initiate another Cure Period unless and until FDR has another three (3) consecutive Failed Months, as set forth above. (v) Anything in this Section 2.10 to the contrary notwithstanding, in no event shall the provisions of this Section 2.10 be effective until a date ninety (90) days following the date of the Transfer.