Common use of Software as a Service Clause in Contracts

Software as a Service. credits EFI’s exceeding, meeting, or failing to meet the SaaS Services Uptime Metric as measured over any quarter may be reflected in adjustments to the duration of the initial contract year for SaaS pursuant to the following schedule (“Service Credits”): Quarterly SaaS rating Rating SaaS service credit Between 99.7% - 100% Meets goals Between 99.0% - 99.6% Tolerable Five (5) day extension of term of the SaaS at no cost to Customer Below 99.0% Unacceptable Ten (10) day extension of term of the SaaS at no cost to Customer SaaS Ratings below 99% for a quarter shall be escalated by both parties to the vice president level (or equivalent), as outlined in this schedule. The SaaS Service Credits shall be cumulative and extend the initial term of the SaaS agreements as set out in the SaaS Legal Quote at no cost to Customer. Therefore, any renewal of SaaS agreement shall be effective after SaaS Service Credits have been fully utilized. The annual Service Credits are capped at thirty (30) days per annum.

Appears in 2 contracts

Samples: lms365.com, www.lms365.com

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Software as a Service. credits EFI’s exceeding, meeting, or failing to meet the SaaS Services Uptime Metric as measured over any quarter may be reflected in adjustments to the duration of the initial contract year for SaaS pursuant to the following schedule (“Service Credits”): Quarterly SaaS rating Rating SaaS service credit QUARTERLY SAAS RATING RATING SAAS SERVICE CREDIT Between 99.7% - 100% Meets goals Between 99.0% - 99.6% Tolerable Five (5) day extension of term of the SaaS at no cost to Customer Below 99.0% Unacceptable Ten (10) day extension of term of the SaaS at no cost to Customer SaaS Ratings below 99% for a quarter shall be escalated by both parties to the vice president level (or equivalent), as outlined in this schedule. The SaaS Service Credits shall be cumulative and extend the initial term of the SaaS agreements as set out in the SaaS Legal Quote at no cost to Customer. Therefore, any renewal of SaaS agreement shall be effective after SaaS Service Credits have been fully utilized. The annual Service Credits are capped at thirty (30) days per annum.

Appears in 2 contracts

Samples: lms365.com, www.elearningforce.com

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