Performance Variance definition

Performance Variance means a failure of the Goods to comply with performance criteria or meet performance guarantees or pass performance tests stated in or required by the Contract.
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Examples of Performance Variance in a sentence

  • We are not responsible to the extent the cause of any Performance Variance is outside the scope of Our obligations under the Contract.

  • If an Operating Performance Variance has occurred and Owner desires to terminate this Agreement, then Owner must, no later than thirty (30) days after the occurrence of such Operating Performance Variance, deliver written notice thereof to Manager (the “Owner Notice”).

  • If Owner provides an Owner Notice, then no later than ten (10) business days after Owner’s delivery of the Owner Notice, Manager shall deliver to Owner an “action plan” of measures that it proposes to undertake in an effort to cause the Property’s operations to no longer have an Operating Performance Variance.

  • If an Agreement service is not within the ten percent (10%) level, written explanation must be provided on the Monthly Expenditure and Performance Variance Report.

  • If Manager is unable to restore the Property’s performance to eliminate the Operating Performance Variance by the end of such three (3) month period, then, no later than thirty (30) days after the expiration of such three (3) month period, Owner shall have the right, as its sole and exclusive remedy, to terminate this Agreement by providing written notice of such termination to Manager.

  • In the event that an Operating Performance Variance (as defined below) occurs, Owner shall have the right, as its sole and exclusive remedy, to terminate this Agreement on the terms and conditions hereinafter set forth.

Related to Performance Variance

  • Performance Measure means one or more of the following selected by the Committee to measure Company, Affiliate, and/or business unit performance for a Performance Period, whether in absolute or relative terms (including, without limitation, terms relative to a peer group or index): basic, diluted, or adjusted earnings per share; sales or revenue; earnings before interest, taxes, and other adjustments (in total or on a per share basis); basic or adjusted net income; returns on equity, assets, capital, revenue or similar measure; economic value added; working capital; total shareholder return; and product development, product market share, research, licensing, litigation, human resources, information services, mergers, acquisitions, sales of assets of Affiliates or business units. Each such measure shall be, to the extent applicable, determined in accordance with generally accepted accounting principles as consistently applied by the Company (or such other standard applied by the Committee) and, if so determined by the Committee, and in the case of a Performance Compensation Award, to the extent permitted under Code Section 162(m), adjusted to omit the effects of extraordinary items, gain or loss on the disposal of a business segment, unusual or infrequently occurring events and transactions and cumulative effects of changes in accounting principles. Performance Measures may vary from Performance Period to Performance Period and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in the alternative.

  • Annual performance report means a written appraisal of the teaching staff member's performance prepared by the teaching staff member’s designated supervisor based on the evaluation rubric for his or her position.

  • Performance Standard means the acceptable range of performance for a Performance Indicator or a Service Volume that results when a Performance Corridor is applied to a Performance Target;

  • Performance Standards or “PS” shall mean the cleanup levels and other measures of achievement of the remedial action objectives, as set forth in the ROD.

  • Performance Review means a summative evaluation of a teacher other than a beginning teacher and used to determine whether the teacher’s practice meets school district expectations and the Iowa teaching standards, and to determine whether the teacher’s practice meets school district expectations for career advancement in accordance with Iowa Code section 284.7.