Failure to Meet Performance Requirements Sample Clauses
Failure to Meet Performance Requirements. (a) In the event any of the Operations Tests, the Systems Acceptance Test or the Monthly Operations and Maintenance Reports of ongoing operating performance do not yield results which meet or are better than a Guaranteed Performance Requirement, TSP shall become obligated hereunder to pay Performance Liquidated Damages in the amounts set forth in Exhibit N for any shortfall in performance below the Performance Requirements based upon such test results.
(b) TSP’s obligation to pay Performance Liquidated Damages for failure to meet Guaranteed Performance Requirements shall apply from and after the first Revenue Service Date. If TSP becomes obligated to pay Performance Liquidated Damages, such Performance Liquidated Damages shall be due and payable directly to the Joint Board or to such other person as directed by the Joint Board in writing, without notice or demand, on the tenth day of the following month and if not paid when due shall thereafter accrue interest as provided in Section 12.7. The Joint Board may, in its sole discretion, offset such Performance Liquidated Damages against amounts otherwise payable by the Joint Board to the TSP.
Failure to Meet Performance Requirements. (a) In the event any of the Operations Tests, the Systems Acceptance Test or the Monthly Operations and Maintenance Reports of ongoing operating performance do not yield results which meet or are better than a Guaranteed Performance Requirement, TSP shall become obligated hereunder to pay Performance Liquidated Damages in the amounts set forth in Exhibit N for any shortfall in performance below the Performance Requirements based upon such test results.
(b) TSP’s obligation to pay Performance Liquidated Damages for failure to meet Guaranteed Performance Requirements shall apply from and after the first Revenue Service Date. If TSP becomes obligated to pay Performance Liquidated Indiana Finance Authority/Joint Board 51. Toll Services Agreement LSIORB Toll Services Project Execution Version Damages, such Performance Liquidated Damages shall be due and payable directly to the Joint Board or to such other person as directed by the Joint Board in writing, without notice or demand, on the tenth day of the following month and if not paid when due shall thereafter accrue interest as provided in Section 12.7. The Joint Board may, in its sole discretion, offset such Performance Liquidated Damages against amounts otherwise payable by the Joint Board to the TSP.
Failure to Meet Performance Requirements. In the event the Licensee fails to meet any of the milestones or performance criteria set forth in Schedule D, or observe and perform the obligations set forth under any of Sections 4.1 or 4.3, such shall constitute a default under this Agreement pursuant to Section 13.2 hereof.
Failure to Meet Performance Requirements. In the event the Licensee fails to meet any of the milestones or performance criteria, or observe and perform the obligations set forth under any of Sections 4.1, including Schedule “D”, 4.2, 4.3 such shall constitute a default under this Agreement and shall entitle the University to terminate this Agreement pursuant to Section 13.2 hereof.