PERFORMANCE ASSURANCE PLAN Sample Clauses
A Performance Assurance Plan clause establishes a framework for monitoring and ensuring that contractual obligations are met to specified standards. Typically, it outlines the metrics, reporting requirements, and evaluation processes used to assess the performance of one or both parties, such as regular progress reports, audits, or performance reviews. The core function of this clause is to provide a structured mechanism for accountability, helping to identify and address performance issues early and ensuring that the contract's objectives are achieved efficiently.
PERFORMANCE ASSURANCE PLAN. At Buyer’s direction, Seller will provide Buyer with a Performance Assurance Plan prepared in accordance with procedures established by Buyer showing Seller’s work in process and yield factors for each major process step. This plan will be imposed by Buyer where, in ▇▇▇▇▇’s opinion, there is a significant risk in meeting performance or delivery requirements. The Performance Assurance Plan will demonstrate Seller’s work in process and yield factors in Seller’s format.
PERFORMANCE ASSURANCE PLAN. If Honeywell, in its sole discretion, determines there is a significant risk that Subcontractor will fail, or that Subcontractor has failed, to meet, its performance or delivery obligations under this Subcontract, then Honeywell may require Subcontractor to perform under a Honeywell or Honeywell-approved Performance Assurance Plan. The Performance Assurance Plan may include specific reporting and performance requirements reasonably tailored to ensure or measure Subcontractor’s adequate performance under identified provisions of this Subcontract. Any failure by Subcontractor to satisfy the terms of the Performance Assurance Plan is a material breach. Additionally, Honeywell has the right to intervene in the management of this Subcontract. Such intervention will be in the form of management assistance, and loan or lease of manpower and/or equipment to Subcontractor or sub-tier suppliers, as deemed appropriate by Honeywell. Subcontractor must provide Honeywell with access to the facilities, engineers, employees, and sub-tier suppliers. This intervention may continue until Subcontractor’s performance or delivery is at a level acceptable to Honeywell and, in Honeywell’s reasonable judgment, Subcontractor is able to maintain a satisfactory level of performance or delivery. The Performance Assurance Plan or intervention will not relieve Subcontractor of its obligations under this Subcontract. Subcontractor is liable for all work, costs and expenses Honeywell incurs or sustains by providing resources to assist Subcontractor in meeting its performance obligations under this Subcontract. Honeywell will have the right to seek recovery of all costs on a monthly basis. Subcontractor will pay Honeywell’s costs within 30 days after receipt of invoice or Honeywell may setoff the costs from payments owing from Honeywell to Subcontractor.
PERFORMANCE ASSURANCE PLAN. At NuCon’s direction, Supplier will provide NuCon with documentation showing Supplier’s work in process and yield factors for each major process step. NuCon may impose this where, in NuCon’s opinion, there is a significant risk in meeting performance or delivery requirements. The documentation will demonstrate Supplier’s work in process in Supplier’s format.
PERFORMANCE ASSURANCE PLAN. If Honeywell, in its sole discretion, determines there is a significant risk that Subcontractor will fail, or that Subcontractor has failed, to meet, its performance or delivery obligations under this Agreement, then Honeywell may require Subcontractor to perform under a Honeywell or Honeywell-approved Performance Assurance Plan. The Performance Assurance Plan may include specific reporting and performance requirements reasonably tailored to ensure or measure Subcontractor’s adequate performance under identified provisions of this Agreement. Any failure by Subcontractor to satisfy the terms of the Performance Assurance Plan is a material breach. Subcontractor is liable for all work, costs and expenses Honeywell incurs or sustains by providing resources to assist Subcontractor in meeting its performance obligations under this Agreement. Honeywell will have the right to seek recovery of all costs on a monthly basis. Subcontractor will pay Honeywell’s costs within 30 days after receipt of invoice or Honeywell may setoff the costs from payments owing from Honeywell to Subcontractor.
PERFORMANCE ASSURANCE PLAN. If MCC, in its sole discretion, determines there is a material risk that Supplier will fail to meet its performance or delivery requirements under the Purchase Order, MCC may require Supplier to perform under a MCC Performance Assurance Plan. The Performance Assurance Plan may include specific reporting and performance requirements reasonably tailored to ensure Supplier's adequate performance under identified provisions of the Purchase Order. Any failure by Supplier to satisfy the terms of the Performance Assurance Plan is a material breach of the Agreement.
PERFORMANCE ASSURANCE PLAN. If Honeywell, in its sole discretion, determines there is a significant risk that Supplier will fail to meet its performance or delivery requirements under this Purchase Order, Honeywell may require Supplier to perform under a Honeywell or Honeywell-approved Performance Assurance Plan. The Performance Assurance Plan may include specific reporting and performance requirements reasonably tailored to ensure Supplier’s adequate performance under identified provisions of this Purchase Order. Any failure by Supplier to satisfy the terms of the Performance Assurance Plan is a material breach of this Purchase Order.