Common use of Service Credits Clause in Contracts

Service Credits. 8.1 The Supply Order defines the circumstances in which UBS is entitled to receive, and the associated method of calculation for, Service Credits. UBS shall be entitled to receive Service Credits as a refund of Charges paid, as a direct payment, or as set off against the next invoice(s). 8.2 The accrual and payment of Service Credits shall not relieve Supplier of its other obligations under the Agreement. Service Credits are UBS’s sole financial remedy within the Service Level regime. However, if a failure to meet the Services Levels also constitutes a breach of the Agreement, UBS shall have available to it all other rights and remedies. 8.3 A Multiple Service Level Default shall constitute an irremediable material breach pursuant to clause 10.3(e) of the General Terms and Conditions.

Service Credits. 8.1 6.1 The Supply Order defines the circumstances in which UBS is entitled to receive, and the associated method of calculation for, Service Credits. UBS shall be entitled to select and receive Service Credits as a refund of Charges paid, as a direct payment, or as to be set off against the next invoice(s). 8.2 6.2 The accrual and payment of Service Credits shall not relieve Supplier of its other obligations under the Agreement. Service Credits are UBS’s sole financial remedy within the Service Level regime. However, if a failure to meet the Services Levels also constitutes a breach of the Agreement, UBS shall have available to it all other rights and remedies. 8.3 6.3 A Multiple Service Level Default shall constitute an irremediable material breach pursuant to clause 10.3(e) of the General Terms and Conditions.

Service Credits. 8.1 5.1 The Supply Order defines the circumstances in which UBS is entitled to receive, and the associated method of calculation for, Service Credits. UBS shall be entitled to select and receive Service Credits as a refund of Charges paid, as a direct payment, or as to be set off against the next invoice(s). 8.2 5.2 The accrual and payment of Service Credits shall not relieve Supplier of its other obligations under the Agreement. Service Credits are UBS’s sole financial remedy within the Service Level regime. However, if a failure to meet the Services Levels also constitutes a breach of the Agreement, UBS shall have available to it all other rights and remedies. 8.3 5.3 A Multiple Service Level Default shall constitute an irremediable material breach pursuant to clause 10.3(e) of the General Terms and Conditions.