Material Defect definition

Material Defect. As defined in Section 2.02(c) hereof.

Material Defect means the Deliverable fails to substantially comply with the applicable and corresponding acceptance criteria for that Deliverable set forth in the Order Form.

Material Defect. The meaning specified in Section 2.02(a).

Examples of Material Defect in a sentence

• If Customer fails to reject any Deliverable within the Acceptance Period, in a written document specifying the Material Defect, Customer shall be deemed to have accepted such Deliverable as of the 10th day of the Acceptance Period.

• If Customer notifies SAP that it has rejected the Deliverable due to a Material Defect, Customer shall provide written notice, within such 10-day period, specifying the basis of the Material Defect.

• If Prime Contractor fails to reject any Deliverable within the Acceptance Period, in a written document specifying the Material Defect, Prime Contractor shall be deemed to have accepted such Deliverable as of the 10th day of the Acceptance Period.

• If Prime Contractor notifies SAP that it has rejected the Deliverable due to a Material Defect, Prime Contractor shall provide written notice, within such 10-day period, specifying the basis of the Material Defect.

• Upon delivery by SAP of a completed Deliverable, Customer shall have 10 calendar days to accept or reject the Deliverable due to a Material Defect, based on the acceptance criteria set forth in the Order Form for that Deliverable (“ Acceptance Period”).

More Definitions of Material Defect

Material Defect. With respect to any Mortgage Loan, a Material Breach or a Material Document Defect, as the case may be, with respect to such Mortgage Loan.

Material Defect. With respect to any Mortgage Loan, as defined in Section 2.02(c) hereof.

Material Defect. As defined in Section 2.02(c) hereof. MERS: Mortgage Electronic Registration Systems, Inc., a Delaware corporation, or any successor in interest thereto.

Material Defect means the Deliverable fails to substantially comply with the applicable and corresponding acceptance criteria for that Deliverable set forth in the Order Form. If the relevant Deliverable passes the agreed acceptance criteria set forth in the Order Form, Prime Contractor shall accept the Deliverable. Acceptance will not be unreasonably withheld by Prime Contractor. If Prime Contractor notifies SAP that it has rejected the Deliverable due to a material defect, Prime Contractor shall provide written notice, within such 10 day period, specifying the basis of the defect. SAP shall have a reasonable period to cure and redeliver the Deliverable for an additional Acceptance Period. If Prime Contractor fails to reject any Deliverable within the Acceptance Period, in a written document specifying the defect, Prime Contractor shall be deemed to have accepted such Deliverable as of the 10th day of the Acceptance Period. Upon acceptance of a Deliverable, all Services associated with such Deliverable shall be deemed accepted and SAP shall have no further obligation with respect to an accepted Deliverable. A Deliverable shall not be made available for productive use, unless it has been accepted by Prime Contractor (either expressly or by passage of time). Where acceptance criteria is not specified in the Order Form for a Deliverable, such Deliverable will be deemed complete and accepted by Prime Contractor the day after SAP performs it or delivers it.

Material Defect shall include:

Material Defect. The meaning specified in Section 2.02(a) of the Sale and Servicing Agreement.

Material Defect shall have the meaning given such term in Section 7 of this Agreement.