Performance Credits Sample Clauses
The Performance Credits clause establishes a system of financial credits or compensation when a party fails to meet specified performance standards or service levels. Typically, this clause outlines the criteria for measuring performance, the method for calculating credits, and the process for applying them to future invoices or payments. Its core practical function is to incentivize consistent service quality and provide a remedy for underperformance, thereby allocating risk and ensuring accountability between the parties.
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Performance Credits. If the Contractor fails to maintain the Product within the times specified by the maintenance agreements between the Contractor and the Authorized User, it is understood and the Contractor hereby agrees that the amount of 1/30th of the monthly maintenance value, up to the monthly value of the maintenance service, shall be deducted from the monies due the Contractor, for maintenance, for each intervening calendar day any work remains incomplete, as a performance credit. The Contractor shall not be liable if failure to perform arises out of causes beyond its control and without the fault or negligence of the Contractor (Acts of God, the public enemy, fires, floods, strikes, freight embargoes, regulated telephone company delays, etc.). Authorized Users have the right to sign a maintenance agreement that increases the Performance Credit as stated, but the Performance Credit can’t be eliminated through negotiation.
Performance Credits. In the event of a Service Level Failure, Vendor shall incur the Performance Credit associated with the Service Level that Vendor failed to achieve. If more than one Service Level Failure has occurred in a single month, the sum of the corresponding Performance Credits shall be paid to Customer; provided, however that, notwithstanding the amount of Performance Credits incurred by Vendor, in no event shall the total amount of Performance Credits incurred by Vendor in a single month exceed $25,000. All Performance Credits incurred by Vendor in a given month shall be Customer’s sole remedy for Service Level Failures and shall be credited to Customer on the next monthly invoice.
Performance Credits. Supplier and Aetna agree that the damage resulting from Supplier’s failure to meet the Service Levels set forth herein may be difficult to calculate. If Supplier fails to meet such Service Levels, Supplier and Aetna agree that, as liquidated damages for such failure, and not as a penalty, Aetna shall be entitled to receive, with respect to each such failure, an amount specified on the applicable Schedule (each a “Performance Credit”) for each [*] Supplier is not in compliance with the Maintenance Resolution Time Frames. Performance Credits will begin to accrue at [*] from Supplier’s receipt of the service call for Severity 1 problems, [*] from a Severity 2 service call, and [*] for Severity 3 problems. Such Performance Credits may, at Aetna’s sole discretion, be paid by Supplier to Aetna as a credit to be applied against the Maintenance fee next due. Aetna may, in its sole discretion, waive acceptance of, and not receive, any Performance Credits relating to such failure and may pursue any other remedies that may be available to it in law or equity or otherwise.
Performance Credits. In the event that a performance credit for any month is requested by Sprint in writing as provided in Exhibit C [Hosting Service Level Agreement] or Exhibit J [Software Maintenance Service Level Agreement], Service Provider shall issue a credit memo detailing the percentage of the applicable month’s Fees due as a credit to Sprint within [*] days of the end of the applicable month and Sprint may credit such amount against the next payment due to Service Provider. If the amount of any performance credits exceeds the amount otherwise to be paid, Sprint will carry such credits forward on each subsequent remittance until fully credited to Sprint, and, if a credit balance remains at the end of the Term, Service Provider will then refund the credit balance to Sprint.
Performance Credits. If the actual availability (HA) of the Technical Helpdesk in any calendar month is less than [**]% in any calendar month commencing with the first full calendar month after the System has been placed in production (currently scheduled for 25 August 2000), DBS will pay the following Performance Credits to CBOT or a party designated by CBOT. Actual Availability Performance Credit for each [**]% (or in a Calendar Month portion thereof) Between [**]% and [**]% [**] Between [**]% and [**]% [**]
Performance Credits. In the event that a Service Affecting Event (as defined below) shall have occurred for any reason other than the occurrence of a Force Majeure Event or a Customer/User Delay, Contractor shall pay to Customer or affected Users, as applicable, as “Performance Credits” (and as liquidated damages and not as a penalty) an aggregate sum equal to the amount set forth under the heading “Performance Credit Amount” for each such Service Affecting Event, as set forth in Exhibit G; provided, however, that in no event shall the annual aggregate amount of Performance Credits exceed $[* * *], which equals CA$[* * *] under the current conversion factor required under Exhibit E. For purposes hereof, a “
Performance Credits. In the event Registry Operator fails to meet the performance specifications set forth in Exhibit F of this Agreement, Registry Operator shall provide a credit to Registrar in an amount equal to its proportionate share of applicable performance credits set forth in Exhibit G to this Agreement. Such performance credits shall constitute the sole and exclusive remedy available to Registrar with regard to Registry Operator's failure to meet the performance specifications.
Performance Credits. In the event of a failure to provide the Services in accordance with the applicable Service Levels, Vendor shall incur the Performance Credits identified in and according to the schedule set forth in Exhibit 5.
Performance Credits. If the actual availability (AV) of the System is less than [**] in any calendar month commencing with the first full calendar month after the System has been placed in production (currently scheduled for 25 August 2000), DBS will pay the following Performance Credits to CBOT or a party designated by CBOT. Actual Availability Performance Credit for each [**]% (or in a Calendar Month portion thereof) between [**]% and [**]% [**] between [**]% and [**]% [**]
Performance Credits. If PwCES fails to meet a Critical Service Level for any one (1) month period, or if PwCES fails to meet any other Service Level for three (3) consecutive months, Equifax shall be entitled to the Performance Credits set forth in Exhibit 1.