Downtime Credit definition
Downtime Credit means a credit for production downtime, if any, in excess of downtime identified in the Budget delivered on or prior to the Closing Date, in an amount equal to US$2,500,000 for every 10,000 tons of production downtime in excess of downtime identified in the Budget taken in any month ending on or prior to July 31, 2009 (other than, in any event, downtime associated with maintenance activity in the ordinary course of business), provided that the cumulative amount of the Downtime Credit during all periods shall not exceed US$20,000,000. In the event the amount of production downtime in excess of downtime identified in the Budget is more or less than 10,000 tons, the Downtime Credit for such month shall be prorated based upon the actual number of tons of production downtime in excess of the downtime identified in the Budget (but in any event not to exceed the US$20,000,000 cap set forth above).
Downtime Credit means an amount determined in accordance with Section 1.7(a)(xiii) of the Seller Disclosure Letter.
Downtime Credit has the meaning in Section 5.1.
Examples of Downtime Credit in a sentence
The Facility Fee shall be reduced by Downtime Credit for any applicable period.
More Definitions of Downtime Credit
Downtime Credit is a prorated amount of the Fees attributable to Downtime that causes the Service Level Availability of Dedicated SaaS to not meet or exceed the Service Level Objective (“SLO”) as defined herein.