Repair Threshold definition
Examples of Repair Threshold in a sentence
E.g. if a piece of Reactive Maintenance Works costs £550 and the Inclusive Repair Threshold is £500.
Please note this value is over and above any Inclusive Repair Threshold you may have set.
If the Works cost £600, £500 of the cost would be covered under the Inclusive Repair Threshold and £100 would require written approval as this would exceed the £50 limit.
Please see definition within Joint Schedule 1 – Definitions; Inclusive Repair Threshold – here you must state whether you will operate an Inclusive Repair Threshold under which the costs of individual Reactive Maintenance Works are included in the tendered fixed cost and the Baseline Monthly Payment i.e., not billable to the Buyer in addition to the Baseline Monthly Payment.
Please see definition within Joint Schedule 1 – Definitions; Inclusive Repair Threshold – here you must state whether you will operate an Inclusive Repair Threshold under which the costs of individual Reactive Maintenance Works are included in the tendered fixed cost and the Baseline Monthly Payment i.e., not billable to the Buyer in addition to the Baseline Monthly Payment.
You agree to notify us immediately if you change your bank, or if your balance is not sufficient to cover potential expenses in the amount of the Repair Threshold.
However, in no event shall Tenant be obligated to expend more than $5,000, in the aggregate, in any twelve month period (the “Repair Threshold”) on any repair(s) to, or replacement(s) of, either or both the Chiller System and/or the RO/DI System, and in the event the Repair Threshold occurs, Tenant shall not be obligated to perform any further repairs on, or to otherwise continue to maintain, the Chiller System and/or the RO/DI System for the balance of the Term.
The Replace/Repair Service is included in the PC Care Support subscription, up to the Repair Threshold, whereas customer will be billed any overage costs that exceed the Repair Threshold.
If the reasonably estimated cost of such capital repairs for a Closed Fee Property is less than the Individual Repair Threshold, Purchaser and Seller shall proceed to the Settlement with respect to each such Closed Fee Property, with no abatement of the Purchase Price for same.
The Replace/Repair Service is included in the PC Support and Premium Support subscriptions, up to the Repair Threshold, whereas customer will be billed any overage costs that exceed the Repair Threshold.