Common use of Credit Application Process Clause in Contracts

Credit Application Process. Credits are not cumulative month to month. If the SLA issue exceeds 30 days or spans across two or more months, credits generated in a succeeding month do not accumulate to an existing credit for a preceding month. Each month’s credits are determined on its own. The maximum credit within any one month for the aggregate SLA credits within that month is 100% of the total Managed SBD MRC for any one site. Verizon’s data and calculations will be used to determine if an SLA has been missed and a credit is due. Verizon will issue a credit within 90 days following its determination of non-compliance with an SLA. The next months credits will not accumulate to the existing credit, and, the customer will receive credits for the new months based on the original schedule