Serial Defect shall have the meaning ascribed in Section 16.3.
Serial Defect shall have the meaning given to such term in the Depository Agreement.
Serial Defect has the meaning set forth in Section 13.7.
Examples of Serial Defect in a sentence
In no event shall Buyer and Supplier’s failure to agree on the Corrective Action Plan delay the timely notification of a potential safety hazard, non-compliance or Serial Defect to users of the goods, cause either party to be non-compliant with applicable Law or prevent Buyer from taking reasonable actions to prevent injury or damage to persons, equipment or other property.
More Definitions of Serial Defect
Serial Defect means more than five percent (5%) of the delivered goods and services are defective as to the same component or have a comparable cause. A Serial Defect shall also be deemed to exist, even if more than five percent (5%) of the delivered goods have not exhibited a defect as to the same component or have a comparable cause, if SMA has a reasonable belief that more than five (5%) of the goods will have a Serial Defect on the basis of a detected defect in production, the use of materials and/or the respective product design.
Serial Defect means any failure or non-conformance has occurred with respect to five percent (5%) or more units of any particular item of Equipment, and such failure or non-conformance could reasonably be expected to result from the same cause.
Serial Defect means a manufacturing, material or design defect of a substantially identical nature that has occurred to fifteen percent (15%) or more of the Units of the Facility.
Serial Defect shall be defined as defects that (1) are discovered and fully disclosed to GE Aviation in reasonable detail within four (4) years of delivery of the engine/part, (2) impact fifteen (15) or more engines within the same variant/model and affecting more than one Site, facility and operator where engines are being operated within applicable installation specifications/requirements as set forth in the aero-derivative engine IDM, as provided by or agreed to by GE Aviation, and (3) have not otherwise been satisfactorily addressed by GE Aviation through execution of the Field Event Process. Under the “Field Event Process,” upon notice of any field event with a LM Product or Spare Part provided by GE Aviation, GE Aviation will undertake an investigation sufficient to identify the root cause of such failure and, where appropriate, will take subsequent actions to notify the installed base and recommend actions to mitigate potential related future failures through service bulletins or other similar operator notifications.
Serial Defect shall have the meaning set forth in Section 8.03(a)(v)(A).
Serial Defect means (a) with respect to Inverters, the failure of the greater of (i) 20% and (ii) 150 units, of a given Inverter model within the first five years of operation, which is determined to be a model-wide defect by the Administrative Agent (acting in consultation with the Independent Engineer and taking into account relevant information provided by the Sponsor or available to the Administrative Agent or Independent Engineer from publicly available sources or otherwise) and (b) with respect to Batteries, the failure of the greater of (i) 20% and (ii) 25 units, of a given Battery model within the first five years of operation, which is determined to be a model-wide defect by the Administrative Agent (acting in consultation with the Independent Engineer and taking into account relevant information provided by the Sponsor or available to the Administrative Agent or Independent Engineer from publicly available sources or otherwise).”
Serial Defect means a series of repeating, comparable and material Defects with the same or substantially similar root cause relating to the same Goods and which shall be as set out in the Specification or, if none during any twelve (12) month period within the Warranty Period is determined in at least three per cent (3%) of the Delivered Goods. Regulatory Authority means all governmental, statutory or regulatory bodies and any other competent authorities in any jurisdiction having responsibility for the regulation or governance of any of the activities of KBRS or Supplier.