Common use of Availability Credits Clause in Contracts

Availability Credits. Provider’s failure to comply with Service Availability Service Level shall be deemed a Default for the purposes of this Schedule 4.1 for which service credits shall be awarded to the applicable Recipient Party (“Availability Credits”). Availability Credits shall be awarded for a Default regarding Provider’s obligations pursuant to Section 2.1.2 of this Schedule 4.1 in accordance with the following table: Service Availability (for each Measurement Period) Availability Credits (as a percentage of the Payment Processing Fees payable for such Measurement Period) Greater than or equal to 99% but less than 99.8% 0.2% for every 0.1% below 99.8 % Greater than or equal to 90% but less than 99% 0.15% for every 0.5% below 99 % Greater than or equal to 50% but less than 90% 0.1% for every 1% below 90 % Lower than 50% 100 % For example, if the Service Availability over a Measurement Period pursuant to Section 2.1.2 of this Schedule 4.1 is determined to be 98% for a Recipient Party, Provider shall award an Availability Credit to such Recipient Party in an amount equal to 1.9% of the Payment Processing Fees payable by such Recipient Party to Provider for such Measurement Period (i.e., the sum of (a) (99.8-99.0)/0.1) x 0.2% and (b) (99.0-98.0)/0.5) x 0.15%).

Appears in 2 contracts

Sources: Commercial Agreement, Commercial Agreement (Alibaba Group Holding LTD)

Availability Credits. Provider’s failure to comply with Service Availability Service Level shall be deemed a Default for the purposes of this Schedule 4.1 for which service credits shall be awarded to the applicable Recipient Party (“Availability Credits”). Availability Credits shall be awarded for a Default regarding Provider’s obligations pursuant to Section 2.1.2 of this Schedule 4.1 in accordance with the following table: Service Availability (for each Measurement Period) Availability Credits (as a percentage of the Payment Processing Fees payable for such Measurement Period) Greater than or equal to 99% but less than 99.8% 0.2% for every 0.1% below 99.8 99.8% Greater than or equal to 90% but less than 99% 0.15% for every 0.5% below 99 99% Greater than or equal to 50% but less than 90% 0.1% for every 1% below 90 90% Lower than 50% 100 100% For example, if the Service Availability over a Measurement Period pursuant to Section 2.1.2 of this Schedule 4.1 is determined to be 98% for a Recipient Party, Provider shall award an Availability Credit to such Recipient Party in an amount equal to 1.9% of the Payment Processing Fees payable by such Recipient Party to Provider for such Measurement Period (i.e., the sum of (a) (99.8-99.0)/0.1) x 0.2% and (b) (99.0-98.0)/0.5) x 0.15%).

Appears in 1 contract

Sources: Commercial Agreement (Alibaba Group Holding LTD)