Examples of CAP Notice in a sentence
In the event that either (i) DIR reasonably determines that Service Provider has failed or is reasonably likely to fail to deliver the Services, or (ii) Service Provider has determined that it has failed or is reasonably likely to fail to deliver the Services, then DIR or Service Provider, as applicable, will notify the other Party of such failure (a "CAP Notice").
Concurrently with such CAP Notice, Service Provider will immediately take steps to mitigate any harmful effects of such failure, promptly (and in any event as soon as reasonably practical) perform a Root Cause Analysis, and prepare a corrective action plan (each a "Corrective Action Plan" or "CAP") with respect to such failure.
In the event that thirty (30) days after the CAP Notice, if Service Provider has not submitted a Corrective Action Plan or the Corrective Action Plan has not, in DIR's reasonable judgment remedied the failure identified in the CAP (a "CAP Failure Event"), DIR may impose a CAP Failure Credit as set forth in Exhibit 3.
The CAP Failure Credit will be applied to the monthly invoice until such time as Service Provider has demonstrated effective Service delivery, as evidenced by either (i) no reoccurrence of the Service Level Defaults which triggered the applicable Service Delivery Failure or (ii) in DIR's reasonable judgment, Service Provider has remedied the failure which is the subject of the CAP Notice.
In the event that either (i) DIR reasonably determines that Service Provider has failed or is reasonably likely to fail to deliver the Transition Services, or (ii) Service Provider has determined that it has failed or is reasonably likely to fail to deliver the Transition Services, then DIR or Service Provider, as applicable, will notify the other Party of such failure (a "Transition CAP Notice").
In the event that either (i) DIR reasonably determines that Service Provider has failed or is reasonably likely to fail to deliver the Transformation Services, or (ii) Service Provider has determined that it has failed or is reasonably likely to fail to deliver the Transformation Services, then DIR or Service Provider, as applicable, will notify the other Party of such failure (a "Transformation CAP Notice").
Administrative Actions may include issuance of any or all of the following: Notice of Concern, a mandate for CAP, Notice to Cure (NTC), and Sanctions, including but not limited to monetary penalties, reducing the amount of the allocation, terminating the allocation, or denying future funding.
In the event that thirty (30) days after the CAP Notice, Service Provider has not submitted a CAP or the CAP has not, in DIR's judgment remedied the failure identified in the CAP (a "CAP Failure Event"), DIR may impose a CAP Failure Credit as set forth in Exhibit 3.
Administrative Actions may include issuance of any or all of the following: Notice of Concern, a mandate for Corrective Action Plan (CAP), Notice to Cure (NTC), and Sanctions, including but not limited to monetary penalties, reducing the amount of the allocation, terminating the allocation, or denying future funding.
If Krang receives a Competing Acquisition Proposal, it shall provide written notice thereof to VHI (the "CAP Notice") as soon as possible, but in any event prior to 10:00 a.m. (Calgary time) on the day following receipt thereof.