Performance Assurance Requirement Clause Samples

A Performance Assurance Requirement clause sets out the standards or benchmarks that a party must meet to demonstrate satisfactory performance under a contract. Typically, this clause details specific metrics, reporting obligations, or testing procedures that will be used to measure whether the agreed-upon services or deliverables meet the required quality or timeliness. By clearly defining how performance will be assessed and what constitutes compliance, this clause helps prevent disputes and ensures both parties have a mutual understanding of expectations.
Performance Assurance Requirement. The amount of Performance Assurance to be posted with respect to any Product Order in effect shall be equal to the sum of the Collateral Requirement across all Designated Systems included in such Product Order. The total amount of Performance Assurance to be posted under this Agreement shall be equal to the sum of the Collateral Requirement across all Designated Systems included in this Agreement (“Performance Assurance Requirement”). The actual amount posted by Seller and held by Buyer is the Performance Assurance Amount, which shall be required to be at least equal to the Performance Assurance Requirement.
View SourceView Similar (15)
Performance Assurance Requirement. The amount of Performance Assurance to be posted with respect to any Product Order in effect shall be equal to the sum of the Collateral Requirement across all Designated Systems included in such Product Order. The total amount of Performance Assurance to be posted under this Agreement shall be equal to the sum of the Collateral Requirement across all Designated Systems included in this Agreement (“Performance Assurance Requirement”). The actual amount posted by Seller and held by Buyer is the Performance Assurance Amount, which shall be required to be at least equal to the Performance Assurance Requirement. Notwithstanding the foregoing, if there is an increase in the Collateral Requirement for a Community Renewable Energy Generation Project in the quarterly payment adjustments pursuant to Sections 2.6(a)-(b), Seller shall not be required to post additional Performance Assurance Amount at the time of such payment adjustment(s). Additionally, if there is an increase in the Collateral Requirement for a Community Renewable Energy Generation Project based on information in Seller’s ABP Part I Application and ABP Part II Application for such Designated System, Seller shall not be required to post additional Performance Assurance Amount at the time of Energization.
View SourceView Similar (15)
Performance Assurance Requirement. With respect to Aggregate Transactions, if at any time and from time to time during the term of this Agreement, Aggregate Buyer’s Exposure exceeds the Unsecured Credit on any Business Day, then Buyer shall request that Seller post Performance Assurance in an amount equal to the amount by which Aggregate Buyer’s Exposure exceeds the Unsecured Credit (rounding upwards to the nearest $100,000), less any Performance Assurance already posted with Buyer. Notwithstanding the above, Seller shall only be required to post the required Performance Assurance to the extent the amount of the total required Performance Assurance is equal to or greater than $500,000. Subsequent and incremental requests for Performance Assurance shall be in $100,000 increments. ▇▇▇▇▇’s request for Performance Assurance shall not be disputed by Seller.
View SourceView Similar (12)
Performance Assurance Requirement. The amount of Performance Assurance to be posted with respect to any Product Order in effect shall be equal to the sum of the Collateral Requirement across all Designated Systems included in such Product Order. The total amount of Performance Assurance to be posted under this Agreement shall be equal to the sum of the Collateral Requirement across all Designated Systems included in this Agreement (“Performance Assurance Requirement”). The actual amount posted by Seller and held by Buyer is the Performance Assurance Amount, which shall be required to be at least equal to the Performance Assurance Requirement. Notwithstanding the foregoing, if there is an increase in the Collateral Requirement for a Community Renewable Energy Generation Project in the payment adjustment pursuant to Sections 2.6(a)-(b), Seller shall not be required to post additional Performance Assurance Amount at the time of such payment adjustment.
View SourceView Similar (3)
Performance Assurance Requirement. Not later than the Open Season Deadline, the Customer shall provide Performance Assurance: (i) in the case of requested PTP transmission service, equal to the requested PTP Reserved Capacity times the long-term firm PTP transmission service rate in section II.A. of Bonneville’s PTP rate schedule (in effect at the time of the Open Season Deadline) for one year, or,
View SourceView Similar (2)
Performance Assurance Requirement. The amount of Performance Assurance to be posted with respect to any Product Order in effect shall be equal to the sum of the Collateral Requirement across all Designated Systems included in such Product Order. Following the posting of required The total amount of Performance Assurance for any Product Order in effect, the total amount of such Seller’s Performance Assuranceto be posted under this Agreement shall be equal to the sum of the Collateral Requirement across all Designated Systems included in this Agreement (“Performance Assurance Amount”). Requirement”). The actual amount posted by Seller and held by Buyer is the Performance Assurance Amount, which shall be required to be at least equal to the Performance Assurance Requirement. If a Designated System is otherwise Energized as of the Trade Date pending the full establishment of the Standing Order and where such Standing Order request has been initiated by Seller as of the Trade Date, Seller may request for Buyer to withhold, and if so requested, Buyer shall withhold, a portion of the first REC payment in the amount of the Collateral Requirement of such Designated System as Seller’s Performance Assurance in respect of such Designated System in lieu of the timing required by the first paragraph of this Section.
View SourceView Similar (2)
Performance Assurance Requirement. The amount of Performance Assurance to be posted with respect to any Product Order in effect shall be equal to the sum of the Collateral Requirement across all Designated Systems included in such Product Order. Following the posting of required The total amount of Performance Assurance for any Product Order in effect, the total amount of such Seller’s Performance Assuranceto be posted under this Agreement shall be equal to the sum of the Collateral Requirement across all Designated Systems included in this Agreement (“Performance Assurance Amount”). Requirement”). The actual amount posted by Seller and held by Buyer is the Performance Assurance Amount, which shall be required to be at least equal to the Performance Assurance Requirement. Notwithstanding the foregoing, if there is an increase in the Collateral Requirement for a Community Renewable Energy Generation Project in the quarterly payment adjustments pursuant to Sections 2.6(a)-(b), Seller shall not be required to post additional Performance Assurance Amount at the time of such payment adjustment(s). Additionally, if there is an increase in the Collateral Requirement for a Community Renewable Energy Generation Project based on information in Seller’s ABP Part I Application and ABP Part II Application for such Designated System, Seller shall not be required to post additional Performance Assurance Amount at the time of Energization. If a Designated System is otherwise Energized as of the Trade Date pending the full establishment of the Standing Order and where such Standing Order request has been initiated by Seller as of the Trade Date, Seller may request for Buyer to withhold, and if so requested, Buyer shall withhold, a portion of the first REC payment in the amount of the Collateral Requirement of such Designated System as Seller’s Performance Assurance in respect of such Designated System in lieu of the timing required by the first paragraph of this Section.
View SourceView Similar (2)
Performance Assurance Requirement. The amount of Performance Assurance to be posted with respect to any Product Order in effect shall be equal to the sum of the Collateral Requirement across all Designated Systems included in such Product Order. Following the posting of required The total amount of Performance Assurance for any Product Order in effect, the total amount of such Seller’s Performance Assuranceto be posted under this Agreement shall be equal to the sum of the Collateral Requirement across all Designated Systems included in this Agreement (“Performance Assurance Amount”). Requirement”). The actual amount posted by Seller and held by Buyer is the Performance Assurance Amount, which shall be required to be at least equal to the Performance Assurance Requirement.
View Source
Performance Assurance Requirement. The amount of Performance Assurance to be posted with respect to any Product Order in effect shall be equal to the sum of the Collateral Requirement across all Designated Systems included in such Product Order. The total amount of Performance 25 For example, if a Community Renewable Energy Generation Project is Energized on May 15, 2021 and assigned Payment Cycle C, then the Community Solar First Year Report would be due on June 10, 2022 for the period May 15, 2021 through May 31, 2022. 26 For example, if the effective date of the Agreement falls between June 1 and July 15 of a calendar year, then the first REC Annual Report is to be submitted by July 15 of the following year. Assurance to be posted under this Agreement shall be equal to the sum of the Collateral Requirement across all Designated Systems included in this Agreement (“Performance Assurance Requirement”). The actual amount posted by Seller and held by Buyer is the Performance Assurance Amount, which shall be required to be at least equal to the Performance Assurance Requirement.
View Source

Related to Performance Assurance Requirement

  • Performance Requirements A. There is no guaranteed minimum amount of work which will be ordered under this Contract. B. The total Contract amount will not exceed $4,900,000. C. This is a Contract for work specified in individual Job Orders. Work ordered prior to but not completed by the expiration of the Contract period, and any additional work required as a result of unforeseen conditions encountered during construction up to six (6) months after the contract expiration date, will be completed with all provisions of this Contract still in force. Performance time for each Job Order issued under this Contract will be determined in accordance with the Contract. This performance time will be determined and agreed upon by both Parties for each individual Job Order. Contractor must self-perform 20% of the Work under this Contract for ‘A’ and ‘B’ licenses. Contractor must self-perform 75% of the Work under this Contract, unless otherwise approved by the County, for ‘C’ licenses. D. This is an indefinite-quantity Contract for the supplies or services specified and effective for the period stated. Work or performance shall be made only as authorized by Job Orders issued in accordance with the ordering procedures clause. The Contractor agrees to furnish to the County when and if ordered, the supplies or services specified in the Contract up to and including the quantity designated in the Job Orders issued as the maximum designated in the Contract.

  • Quality Assurance Requirements There are no special Quality Assurance requirements under this Agreement.

  • SYSTEM PERFORMANCE REQUIREMENTS Certain functions of the Platform are subject to the service level agreement described in the Agreement. The following additional terms apply to Electronic Communication Services (as defined below). Such terms control in the event of a conflict with the terms of the Agreement. 1. These terms apply only to NCR Voyix’s provision of electronic communication services, such as NCR Voyix Pulse Real Time Text Paging, certain NCR Voyix online ordering functionalities and NCR Voyix Consumer Marketing (collectively, “Communication Services”). The Communication Services may enable you to send communications to your patrons, end-users or other recipients (collectively, “Recipients”), including e-mails, text messages or other electronic messages (collectively, “Communications”). Communications may be routed through wireless or mobile carriers, internet service providers or other communication service providers (each, a “CSP”). 2. You are entirely responsible for your use of the Communication Services, including, but not limited to: (a) proper account setup and configuration settings; (b) obtaining consents or opt-ins from Recipients to receive Communications; (c) compliance with requests to opt-out or unsubscribe from Communications; (d) providing all required disclosures; and (e) use of valid phone numbers, e-mail addresses or other communications identifiers as appropriate for the particular type of Communication. You are responsible for compliance with (i) all laws, rules, regulations and ordinances (including, without limitation, the Telephone Consumer Protection Act, the Federal Trade Commission Act, and the CAN-SPAM Act) and (ii) all industry standards and CSP requirements and policies (including, without limitation, all “S.H.A.F.T” rules and similar standards), in each case, as applicable to your use of the Communication Services or the conduct of your business (collectively, “Applicable Legal Requirements”). You will not use the Communication Services in violation of Applicable Legal Requirements or to engage in any illegal or unethical activity. You are solely responsible for the content and accuracy of your Communications and any products or services offered for sale therein. You will not send any misleading, inaccurate, threatening, libelous, obscene, harassing, or offensive Communication. If NCR Voyix provides images or other materials as part of the Communication Services, you may only use them for your permitted use of the Communication Services. Further, you may not use any third-party or purchased e-mail list(s) in connection with the Communication Services. NCR Voyix may immediately suspend or terminate your use of the Communication Services if you breach any obligation under this Section. You agree to immediately report any violation of this Section to NCR Voyix and provide cooperation, as requested by NCR Voyix, to investigate and/or remedy that violation. You are responsible for any and all charges (including, but not limited to, fees associated with text or email messaging) imposed by your CSP. Message and data rates may apply. Such charges include those from your mobile carrier or other CSP. 3. Communications may not be encrypted, so you should use appropriate care when determining the content of any Communications. Delivery and receipt of Communications may be delayed or impacted by technical or other issues with CSPs or other third parties or due to other reasons outside of NCR Voyix’s control. NCR Voyix will not be liable for any losses or damages arising from the disclosure of any Communication to any third party or the non-delivery, delayed delivery, misdirected delivery or mishandling of, or inaccurate content in, any Communication sent via the Communication Services. 4. You will indemnify, defend and hold harmless NCR Voyix and its affiliates, suppliers, agents and representatives against any and all claims, losses, costs, fines, fees, liabilities or obligations arising from: (a) your use of the Communication Services or the conduct of your business; or (b) your violation of Applicable Legal Requirements. The indemnified parties hereunder are intended third-party beneficiaries of this Section.