Activity Noncompliance Occurrences and Activity Noncompliance Events Sample Clauses

Activity Noncompliance Occurrences and Activity Noncompliance Events. Noncompliance Points and associated Deductions will be assessed for Activity Noncompliance Events in accordance with the Contract Documents and in particular Section 16 and Exhibit 4D of the Agreement. Such Activity Noncompliance Events will be assessed as described below: • failure to timely respond (if applicable) to an Activity Noncompliance Occurrence within the Response Time will result in an Activity Noncompliance Event being assessed; • failure to timely rectify an Activity Noncompliance Occurrence within the Rectification Time will result in an Activity Noncompliance Event being assessed; and • continuing failure to timely rectify an Activity Noncompliance Occurrence following the expiration of a Rectification Time or Application (Maximum Exposure) Time (as applicable) within any further Application (Maximum Exposure) Time will result in an Activity Noncompliance Event being assessed. Response Time and Rectification Time begin simultaneously at the time any member of Concessionaire’s personnel becomes aware of the Activity Noncompliance Occurrence and run concurrently; not sequentially. Concessionaire’s personnel will be deemed to be aware of an Activity Noncompliance Occurrence upon the earliest to occur of the following: (a) when the Activity Noncompliance Occurrence is reported in the real-time database, (b) when the Activity Noncompliance Occurrence is received on the reporting hot line, or (c) when the Activity Noncompliance Occurrence is received in the Activity Noncompliance Occurrence and Noncompliance Event log. The Application (Maximum Exposure) Time begins at the end of the Rectification Time or previous Application (Maximum Exposure) Time (as applicable). Examples are provided below. Example 1: With a Response Time of 1D, Rectification Time of 1M, and an Application (Maximum Exposure) Time of 1 SNC per W: • Failure to respond in one day would result in an Activity Noncompliance Event; • Failure to rectify within one month would result in an additional Activity Noncompliance Event; and • Continued failure to rectify would result in one additional Activity Noncompliance Event each successive week until the Activity Noncompliance Occurrence is rectified. Example #2: With a Response Time of W, Rectification Time of M, and an Application (Maximum Exposure) Time of 1 SNC per W: • Failure to respond in one week would result in an Activity Noncompliance Event; • Failure to rectify within one month would result in an additional Activity Noncompl...
Sample 1
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Related to Activity Noncompliance Occurrences and Activity Noncompliance Events

  • Force Majeure If by reason of Force Majeure, either party hereto shall be rendered unable wholly or in part to carry out its obligations under this Agreement then such party shall give notice and full particulars of Force Majeure in writing to the other party within a reasonable time after occurrence of the event or cause relied upon, and the obligation of the party giving such notice, so far as it is affected by such Force Majeure, shall be suspended during the continuance of the inability then claimed, except as hereinafter provided, but for no longer period, and such party shall endeavor to remove or overcome such inability with all reasonable dispatch. Choice of Law The Agreement between the Vendor and TIPS/ESC Region 8 and any addenda or other additions resulting from this procurement process, however described, shall be governed by, construed and enforced in accordance with the laws of the State of Texas, regardless of any conflict of laws principles. Venue, Jurisdiction and Service of Process Any Proceeding arising out of or relating to this procurement process or any contract issued by TIPS resulting from or any contemplated transaction shall be brought in a court of competent jurisdiction in Camp County, Texas and each of the parties irrevocably submits to the exclusive jurisdiction of said court in any such proceeding, waives any objection it may now or hereafter have to venue or to convenience of forum, agrees that all claims in respect of the Proceeding shall be heard and determined only in any such court, and agrees not to bring any proceeding arising out of or relating to this procurement process or any contract resulting from or any contemplated transaction in any other court. The parties agree that either or both of them may file a copy of this paragraph with any court as written evidence of the knowing, voluntary and freely bargained for agreement between the parties irrevocably to waive any objections to venue or to convenience of forum. Process in any Proceeding referred to in the first sentence of this Section may be served on any party anywhere in the world. Venue for any dispute resolution process, other than litigation, between TIPS and the Vendor shall be located in Camp or Xxxxx County, Texas.

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • Definitions For purposes of this Agreement:

  • Confidentiality (a) Subject to Section 7.15(c), during the Term and for a period of three

  • Notices Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

  • Term The term of this Agreement will be ten (10) years from the Effective Date (as such term may be extended pursuant to Section 4.2, the “Term”).

  • Waiver The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any other or subsequent breach.

  • Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  • Entire Agreement This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

  • WHEREAS the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

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