Minimum Performance Requirement Clause Samples
A Minimum Performance Requirement clause sets a baseline level of performance that a party must meet under a contract. Typically, it outlines specific metrics, targets, or standards—such as sales quotas, service levels, or delivery timelines—that must be achieved within defined periods. If the party fails to meet these minimums, the other party may have rights such as withholding payment, seeking remedies, or even terminating the agreement. This clause ensures accountability and helps prevent underperformance, thereby protecting the interests of the party relying on the promised performance.
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Minimum Performance Requirement. During the Services Term, Seller shall be required to deliver to Buyer Delivered Energy annually in each Contract Year in an amount equal to at least fifty-two percent (52%) of the MPR Base Amount of the Project (“Minimum Performance Requirement”). In each Contract Year of the Services Term if the amount of Delivered Energy delivered to Buyer at the Delivery Point from the Project pursuant to the terms of the Agreement (and giving credit to Seller for Deemed Generated Energy attributable for such Contract Year) is less than the Minimum Performance Requirement, Seller shall pay to Buyer an amount equal to $25 total per MWh for the deficit amount of Energy and associated RECs below the Minimum Performance Requirement. Damages payable by Seller to Buyer pursuant to the terms of this Section 3.15 for failure to meet the Minimum Performance Requirement shall be capped at $1,500,000 per year and $10,000,000 in the aggregate over the Services Term. Buyer shall have the right to terminate the Agreement pursuant to Section 12.2 in the event the amount of damages payable by Seller to Buyer pursuant to this Section 3.15 reaches the cumulative limit of $10,000,000 prior to the end of the Services Term, which such occurrence shall be deemed a Seller’s Event of Default.
Minimum Performance Requirement. There shall be no issuance of Common Shares under the PERS Units unless total EBITDA for the Performance Period equals at least $90,000,000 (“Minimum Performance Requirement”). If the Minimum Performance Requirement is achieved, Shares may be issued to the Grantee provided that the threshold Performance Requirements are achieved for ROIC or EBITDA as set forth below.
Minimum Performance Requirement. Affiliate and Association acknowledge that if Affiliate's or Association's annual Enrollment Applications do not exceed FIFTY (50), or, in the case of an Association, if the Association's enrolled membership is not more than ONE HUNDRED (100), it is not economically viable for RCI to maintain the Affiliation, and this Agreement is likewise terminable at the sole option and discretion of RCI upon sixty (60) days notice to Affiliate and Association.
Minimum Performance Requirement. Affiliate acknowledges that if Affiliate's annual RCI Member Enrollment Applications do not exceed fifty (50), it is not economically viable for RCI to maintain the Affiliation, and this Agreement is likewise terminable at the sole option and discretion of RCI upon sixty (60) days notice to Affiliate.
Minimum Performance Requirement. Association acknowledges that if its enrolled membership is not more than one hundred (100), it is not economically viable for RCI to maintain the Affiliation, and this Agreement is likewise terminable at the sole option and discretion of RCI upon sixty (60) days notice to Association.
Minimum Performance Requirement. A VIP could be designed to meet at least the minimum insulating requirements for the application throughout its functional life. Thus, a VIP would be over-designed, so that it would retain the minimum desired R-value at the end of its intended service life of the application. Moisture and gases that degrade the insulating characteristics of a properly prepared VIP enter through two primary routes: the seal and the barrier film. The seal area is the more vulnerable path. Increasing the size of a panel can lessen the impact of seal leaks on the life of a panel. An increase in panel thickness increases the volume of core material, but the length of the panel seal remains unchanged. This means that the rate of moisture and gas infiltration through the seam should be unchanged but their impact on thermal resistance is diluted due to the greater volume of core material. The panel's thermal performance would decrease at a slower rate and the panel life would increase. Much the same can be said for increasing the length and/or the width of a panel, except that the seal length increases but not-at the same rate as the volume of core material. Although barrier films are not as susceptible to infiltration as the seal, they become more important in larger panels as the impact of the seal diminishes. Given this, more attention must be given to selecting a barrier film for them. Quality assurance in the fabrication of VIPs is of paramount importance to the life of the panel. Care must be taken in sealing the film so that the seals are not wrinkled. Also the barrier film must not be wrinkled, sharply bent or folded during fabrication. The INSTILL Core material is supplied with a subtle grid pattern imprinted on the surface to take up excess film material in the vacuum process to prevent wrinkling. Component choices are also important factors affecting panel life. The two primary components that will affect the life of the panel are desiccants and getters that will be incorporated into the panel and the barrier film. During the fabrication of VIPs, it is impossible to evacuate all of the residual gases from the panel. Desiccants and getters remove both residual gases and those gases that enter through the barrier film and the seal during the service life of the panel. Desiccants remove moisture, and more sophisticated and expensive adsorbents called getters are designed to remove molecules of atmospheric gases. Panels that are required to have long service lives must be f...
Minimum Performance Requirement. The Master Franchisee acknowledges and agrees that its performance under this Agreement will be measured, in part, by the capacity of IP Telephony provided by the Master Franchisee and its Franchisees during the Agreement Term as a result of the Master Franchisee's efforts in accordance with the Deployment/Performance Schedule set forth in Exhibit D. The Master Franchisee shall be relieved of its responsibilities with respect to the Deployment/Performance requirements in Exhibit D during any period of time in which Franchisor has not met its performance requirement as stated in Exhibit D.
Minimum Performance Requirement. 10.1. You must introduce at least six (6) new Settled Loans each Calendar Month, or such other amount of Settled Loans as may be advised to you from time to time by Aussie in its absolute discretion.