Material IT Contract definition
Material IT Contract means a contract pursuant to which any Group Company uses Business IT;
Material IT Contract means a Material Contract pursuant to which any Group Company uses Business IT.
Material IT Contract has the meaning given in paragraph 19.1 of Schedule 4.
More Definitions of Material IT Contract
Material IT Contract means any contract, agreement or arrangement under which any Third Party (including any Retained Group Member and any source code deposit agent) provides any element of, or services relating to, the IT Systems (including leasing, hire purchase, licensing, maintenance, website hosting, outsourcing, security, back up, disaster recovery, insurance, cloud computing and other types of services agreements) that is of material importance to the conduct of the Business.
Material IT Contract means any Contract included in the DTI IT Assets (i) having, for each such Contract, a value of at least $500,000 calculated by adding any payments due under the Contract after the date of this Agreement until the first date that DuPont or its Affiliates have a right to terminate such Contract plus any termination fees or charges or (ii) the termination or breach of which would reasonably be expected to directly and proximately result in a site, plant or strategic business unit within the DTI Business being unable to operate in all material respects as operated at the Closing Date, and for which there are no commercially reasonable and timely work-arounds to enable such operation to continue in all material respects; PROVIDED, HOWEVER, that multiple licenses or contracts for the same or substantially similar services, products or applications will not be aggregated when determining the above thresholds set forth in (i) and (ii).
Material IT Contract shall have the meaning set forth in Section 4.18 (IT Systems).