Common use of Systems Failure Clause in Contracts

Systems Failure. Edison shall promptly notify the Buyer of any total systems failure for more than one Business Day with respect to itself and shall advise the Buyer of the estimated time required to remedy such total systems failure. Until such a total systems failure is remedied, Edison (i) will furnish to the Buyer such periodic status reports and other information relating to such total systems failure as the Buyer may reasonably request and (ii) will promptly notify the Buyer if Edison believes that such total systems failure cannot be remedied by the estimated date, which notice shall include a description of the circumstances which gave rise to such delay and the action proposed to be taken in response thereto. Edison shall promptly notify the Buyer when such a total systems failure has been remedied.

Appears in 2 contracts

Sources: Purchase and Contribution Agreement (Edison Schools Inc), Purchase and Contribution Agreement (Edison Schools Inc)