Material Deficiencies Sample Clauses
A material deficiencies clause defines what constitutes a significant shortcoming or failure in performance, quality, or compliance within a contract. Typically, this clause outlines the standards or benchmarks that must be met and specifies the process for identifying, reporting, and remedying such deficiencies, such as requiring the contractor to correct the issue within a set timeframe. Its core practical function is to ensure that critical problems are addressed promptly and to provide a clear mechanism for resolving substantial failures, thereby protecting the interests of the non-breaching party.
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Material Deficiencies. If material deficiencies are discovered during the Inspection Period that exceed $25,000.00 in the aggregate to repair and Buyer has given Seller written notice of such deficiency, Seller will have the option of fixing such deficiency for a period of 30 days following the Inspection Period. If Seller does not fix such material objection during the cure period, Buyer, Seller and Eateries shall have the absolute right, in their sole discretion, to terminate this Agreement by giving written notice of such termination or decision not to close to the other party. For purposes of Section 5.1 "material deficiency" shall mean a deficiency that interferes with the customary efficiency, operations or safety of a Restaurant and not related to normal wear and tear associated with Facilities or the age of the respective Restaurants and Facilities, but assuming a normal level of maintenance.
Material Deficiencies
Material Deficiencies. If Tenant receives a Facility survey or inspection report with material deficiencies that threatens a loss of licensure or, if applicable, certification of the Facility or the imposition of a ban on admissions to the Facility (the “Material Deficiencies”) or notice of failure to comply with a previously submitted plan of correction or an HIPDB adverse action report related to any Material Deficiencies, Tenant shall cure all of the Material Deficiencies and implement all corrective actions with respect thereto by the date required by the regulatory authority and shall deliver evidence of same to Landlord.