STANDARD OF PERFORMANCE AND ACCEPTANCE OF SOFTWARE Clause Samples

STANDARD OF PERFORMANCE AND ACCEPTANCE OF SOFTWARE. The intent of this clause is to establish Company's standard of performance which must be met before the Software is accepted by Company. Company's Software Acceptance criteria will be contained in the mutually agreed upon Quality Plan. Software Acceptance only occurs when the exit criteria for Q2, as defined in the Quality Plan, has been met. If, according to Company's determination, Supplier fails to meet the exit criteria for Q2, Company will notify Supplier within thirty (30) days. If the exit criteria for Q2 is met and thereby acceptance by Company occurs, Suppler will be notified within thirty (30) days. Company shall have the right to accept portions of the Software. If Software is rejected by Company, Supplier shall use its best efforts to correct each error leading to the rejection in accordance with the Quality Plan. If the corrected Software passes the acceptance tests, Supplier shall incorporate the correction(s) in the Software according to Company's requirements. For Software that has not been accepted by Company in accordance with the criteria specified in the Quality Plan within **************************** after the scheduled delivery date, Company shall have the right, at its option: (i) to retain the Software at an equitable adjustment in the license fees as may be agreed to by the parties, in which case the Software shall be deemed accepted; (ii) to afford Supplier one (1) or more correction extensions for a period or periods to be specified by Company without prejudice to Company's rights to thereafter exercise its option under either section (i) or (iii) of this paragraph without further notice to Supplier, if the errors have not been corrected; or (iii) to be entitled to a prompt and full refund of all monies previously paid under the Order, Supplemental Agreement or TCL. If option (iii) is exercised, Company shall have no further obligation to Supplier under the Order, Supplemental Agreement or TCL for the Software and may elect to terminate the such at any time by written notice to Supplier. In addition, if Company has not accepted that Software as set forth above in the previous paragraph, then Company may also return (i) any Supplier provided Product that cannot be applied to another use by Company purchased for the specific Software Release, in the form in which it may have been assembled, and (ii) any associated Software that it is mutually agreed cannot be applied to another use by Company, to Supplier for, at Company's option...
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Related to STANDARD OF PERFORMANCE AND ACCEPTANCE OF SOFTWARE

  • Acceptance of Employment; Standard of Performance The Subadviser accepts its employment as a discretionary series adviser of the Designated Series and agrees to use its best professional judgment to make investment decisions for the Designated Series in accordance with the provisions of this Agreement and as set forth in Schedule D attached hereto and made a part hereof.

  • Detailed Description of Services / Statement of Work Describe fully the services that Contractor will provide, or add and attach Exhibit B to this Agreement.

  • Acceptance of Appointment; Standard of Performance Adviser accepts the appointment as discretionary portfolio manager and agrees to use its best professional judgment to make timely investment decisions for the Fund in accordance with the provisions of this Agreement.

  • Standard of Performance Consultant represents and warrants that it has the qualifications, experience and facilities necessary to properly perform the services required under this Agreement in a thorough, competent and professional manner. Consultant shall at all times faithfully, competently and to the best of its ability, experience and talent, perform all services described herein. In meeting its obligations under this Agreement, Consultant shall employ, at a minimum, generally accepted standards and practices utilized by persons engaged in providing services similar to those required of Consultant under this Agreement.

  • Statement of Work The Statement of Work to which Grantee is bound is incorporated into and made a part of this Grant Agreement for all purposes and included as Attachment A.