Technical Currency Clause Samples
The Technical Currency clause defines the specific currency to be used for all technical calculations, payments, or valuations under an agreement. In practice, this means that regardless of the currencies involved in the parties' operations or transactions, all technical matters—such as performance metrics, penalties, or adjustments—are calculated using the designated currency, such as US dollars or euros. This clause ensures consistency and avoids confusion or disputes that could arise from currency fluctuations or conversions, thereby providing clarity and stability in the contractual relationship.
Technical Currency. Contractor shall establish and manage the On-Going Program for Technical Currency that accomplishes the goals of Refresh and Software Currency and coordinates the activities of Government, Customers, Service Providers, and other vendors. This program produces and executes the Technical Currency Plan that ensures the execution of refresh projects and Software currency projects by the Integrated Service Providers. Contractor shall manage assets to be within the targeted currency as specified in the Technology Plan, which shall at a minimum specify the targeted age of all assets and the targeted release or version level of all software. Contractor shall develop a consolidated annual plan for Technical Currency (the Currency Plan) in coordination with the Integrated Service Providers, Customers, and the Government, and obtain approval of the Currency Plan from the Government and EITS Governance. Contractor shall work with Integrated Service Providers to coordinate, monitor and manage the execution of Technical Currency responsibilities. Contractor and Service Providers will deploy Equipment and Software associated with any Refresh in accordance with the standards of the Technology Plan. Contractor and Integrated Service Providers will deploy equipment and software on the schedule of the Currency Plan, as approved by the Government and coordinated with the Customers.
Technical Currency. This criterion reflects the breadth of technical knowledge of the Tier FTE across various technology programs/packages.
Technical Currency. Grantee shall at its own expense take necessary technical steps and provide necessary technical assistance, including the acquisition of all necessary equipment, to insure that the quality of service of the PEG channels on the cable system remain equivalent to commercial channels and services.
Technical Currency. Contractor warrants that the Licensed Software will remain technically current and will not require State to use third-party database software, network technology, computing hardware, or operating systems that are not supported by their respective manufacturers or that require the payment of a maintenance premium for annual support.