Fundamental Defect definition

Fundamental Defect means a fundamental breach of Clauses 15.2.1 and/or 15.2.2 and/or 15.1.1(i) (to the extent a breach of Clause 15.1.1(i) would also constitute a breach of Clauses 15.2.1 and 15.2.2 had it occurred during the Warranty Period) in relation solely to the release(s) relating to the Billing System (currently planned to be Release 3) which causes a severe adverse effect on the British Gas Business;

Related to Fundamental Defect

  • Fundamental Change Purchase Price has the meaning specified in Section 3.01(a).

  • Fundamental Change Repurchase Price shall have the meaning specified in Section 15.02(a).

  • Title Defect means any lien, charge, Encumbrance, defect, or other matter that, as of the Execution Date, causes Seller or any Selling Subsidiary not to have Defensible Title in and to the Conveyed Interests; provided that the following shall not be considered Title Defects:

  • Fundamental Change Purchase Notice has the meaning specified in Section 3.01(a)(i).

  • Environmental Defect means, with respect to any given Asset, a material violation of Environmental Laws in effect as of the Effective Time in the jurisdiction in which such Asset is located.