Standard of Care definition
Examples of Standard of Care in a sentence
Administrative Agent shall administer and service its obligations under this Agreement and the other Transaction Documents, and shall make such decisions and take such actions as it shall in its reasonable judgment deem necessary, desirable or appropriate in connection therewith, in each case consistent with the Standard of Care.
Provider warrants and covenants that it will use adequate numbers of qualified Provider Personnel with suitable training, education, experience and skill to perform the Services in accordance with the Standard of Care.
Notwithstanding anything to the contrary in Section 7 (Standard of Care; Limitations of Liability; Indemnification) of the Agreement, BNY Mellon shall be liable for Liabilities sustained or incurred in connection with the aforementioned service in an amount in the aggregate in each twelve (12) month period no more than three (3) times the fees received by BNY Mellon for such aforementioned service with respect to such twelve (12) month period.
Unless otherwise agreed in writing by the Parties, to the extent possible, Provider will promptly correct any errors or inaccuracies in BFA Data caused by Provider’s failure to meet the Standard of Care or in the reports delivered to the applicable BFA Recipients hereunder.
If Provider becomes aware of a situation where it has failed or reasonably expects to fail (or a Subcontractor has failed or reasonably expects to fail) to comply with the Service Levels, or otherwise with its other obligations hereunder, Provider will use Commercially Reasonable Efforts to reprioritize or reset the schedule for Provider Personnel’s existing work activities without impacting the established schedule for other tasks or the performance of the Services in accordance with the Standard of Care.