Downturn definition

Downturn is defined as an event such as a corporate divestiture, merger, acquisition, or significant restructuring or reorganization of Your business that causes a reduction of Your Knowledge Workers by 20% or more. After the first 12 months of the Suite Term, upon proof of an applicable event, You have the ability to reduce Your Knowledge Worker quantity for the Cisco Collaboration Webex Suite Enrollment by up to 20% of Your then-current Entitlement, if such reduction is: a) attributed to Downturn; and, b) does not cause Your Knowledge Worker quantity to fall below the minimum requirement of 250 Knowledge Workers. You may request only one Downturn reduction for the Collaboration Webex Suite during the Suite Term. If You reduce Your Knowledge Worker quantity for the Cisco Collaboration Webex Suite due to Downturn, You may be required to provide Cisco with a revised order. No refunds or credits will be provided for any services that have been delivered and/or invoiced. Collab Flex True Forward Provision

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Downturn. A scheduled, twenty-four (24) hour or less period of time when the owner’s production equipment is shut down for periodic maintenance and repair.

Examples of Downturn in a sentence

Any termination by the Company for Cause or after the occurrence of a Substantial Downturn, or by the Executive for Good Reason, shall be communicated by Notice of Termination to the other party hereto given in accordance with Section 13(b) of this Agreement.
The Impact of the Economic Downturn on American Police Agencies (Washington, DC: Office of Community Oriented Policing Services, 2011), ▇▇▇▇://▇▇▇-▇▇▇-▇▇▇.▇▇▇/Publications/cops-w0713-pub.pdf.
In the event of a Significant Economic Downturn between January 1, 2030 and December 31, 2032, the Company, at its discretion, shall be permitted to extend the Maturity Date, for an additional two (2) years, without being considered in default.
The Company may terminate the Executive's employment after the occurrence of a "Substantial Downturn" in the oil and gas industry.
After the first 12 months of the Suite Term, upon proof of a Downturn event, You can reduce Your Knowledge Worker quantity by up to 20% of Your then-current Entitlement, if such reduction is: a) attributed to such Downturn; and, b) does not cause Your Knowledge Worker quantity to fall below the 250 minimum requirement.
To initiate a Downturn reduction, You must provide Your Approved Source with notice 60 days prior to the reduction.
Pursuant to the Business Downturn clause of the Agreement, Company will waive the Underutilization Charges which have accrued but are as of yet unpaid under the Agreement as of the 1St Amendment Effective Date.
Subject to the re- quirements of Section 3(b)(ii) below, if Customer experiences a Busi- ness Divestiture or Business Downturn (as defined below), Cohere will negotiate in good faith with Customer to reduce the monthly re- curring charges obligation that will apply after the occurrence of the Business Divestiture or Business Downturn.
By way of illustration and not by limitation, Business Downturn shall not include a change in Cus- tomer’s usage of any Cohere services resulting from a decision by Customer to reduce its overall use of telecommunications services, to alter or optimize its telecommunications network architecture, or to utilize services being provided by another vendor in lieu of Co- here’s services.
Downturn for Cisco Collaboration Webex Suite “Downturn” only applies to Cisco Collaboration Webex Suite that includes Cisco Webex Calling (A-FLEX-EA-SUITE) and is not applicable to other Suites in Your Enrollment (e.g., Cisco Collaboration Webex Customer Experience Essentials, Webex Suite including On-Premises Unified Communications Manager Calling or Webex Suite for FedRAMP).

More Definitions of Downturn

Downturn means an event such as a corporate divestiture, merger, acquisition, or significant restructuring or