Service Level Credit is defined in Section 8.

Service Level Credit has the meaning provided in Section 4.3(b) of this Schedule B.

Service Level Credit means a credit calculated as described in section 5 below which Customer may apply to the invoice issued to Customer by SAP for the HEC Service in the month subsequent to the date that the Service Level Credit is issued.

Examples of Service Level Credit in a sentence

Sensus will apply each valid Service Level Credit to the Customer’s invoice within 2 billing cycles after Sensus’ receipt of Customer’s request and confirmation of the failure to meet the applicable Service Level Credit.
To receive a Service Level Credit, Customer must issue a written request no later than ten (10) days after the Service Level Credit has accrued.
Sensus records and data will be the sole basis for all Service Level Credit calculations and determinations, provided that such records and data must be made available to Customer for review and agreement by Customer.
No Service Level Credit will apply if Customer is not current in its undisputed payment obligations under the Agreement.
Vendor shall notify the State of Iowa in writing if the State of Iowa becomes entitled to a Service Level Credit, which notice shall be included in the monthly performance reports as described in this Exhibit.

More Definitions of Service Level Credit

Service Level Credit means an amount equal to five percent (5%) of the Monthly Fee for the calendar month in which the Service Level Default occurs, where “Monthly Fee” means the subscription fees paid to Entrust for the applicable Offering divided by the number of months in the applicable Term. The total aggregate amount of the Service Level Credit to be issued by Entrust to Customer for all Service Level Defaults that occur in a single calendar month will be capped at five percent (5%) of the Monthly Fee for such calendar month. Service Level Credits can only be applied against the renewal subscription fees due to Entrust for the applicable Offering and any unused Service Level Credits are forfeited upon termination of the Agreement. For clarity, Entrust is not required to issue refunds or make payments against such Service Level Credits under any circumstances, including upon termination of this Agreement. The Service Level Credit is Customer’s sole and exclusive remedy for any Service Level Default.

Service Level Credit means the financial amount that the Cloud Provider will credit to the Cloud Customer’s account if the Cloud Provider fails to meet an Agreed Service Level for a service;

Service Level Credit shall have the meaning set forth in Attachment A (Definitions) of Exhibit B (Service Level Agreement).

Service Level Credit. The credit or price reduction that USAC is entitled to receive or apply against the Fees as a result of a failure to meet or exceed an applicable CSLA or KPI.

Service Level Credit has the meaning given in Section 5.7 below.

Service Level Credit has the meaning specified in Section 2.4(b).

Service Level Credit means an amount credited to LS&Co. as a result of a Service Level Failure.