Catastrophic Failure Period definition

Catastrophic Failure Period means (a) with respect to any Key Equipment described in clause (a) of such definition, eighteen (18) consecutive months after the failure of such Key Equipment and (b) with respect to any other Key Equipment, twelve
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Catastrophic Failure Period means (i) eighteen (18) consecutive months if the Catastrophic Failure includes a Catastrophic Failure of the generator step-up transformers at the offshore substation or the transformers at the onshore substation, and (ii) twelve
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Examples of Catastrophic Failure Period in a sentence

  • A failure of the Biennial Average Real-Time High Operating Limit for any two consecutive Contract Years to be at least fifty percent (50%) of the Actual Facility Size, except to the extent excused by (i) a Force Majeure (without affecting Buyer’s right to terminate this Agreement under Section 10.1(c)), (ii) a Catastrophic Failure not caused by a Force Majeure, unless and until such Catastrophic Failure exceeds the duration of the Catastrophic Failure Period or (iii) a Reliability Curtailment.

Related to Catastrophic Failure Period

  • Epidemic Failure means a series of repeating failures or defects resulting in at least a 0.5% failure rate for the same Product or Material during any twelve-month period.

  • Catastrophic Event : means an unforeseen event of biotic or abiotic nature caused by human action that leads to important disturbances of agricultural production systems and forest structures, eventually causing important economic damage to the farming or forestry sectors;

  • Supply Failure shall have the meaning ascribed to it in Section 2.8.

  • MI Failure means when an MI report: a) contains any material errors or material omissions or a missing mandatory field; or b) is submitted using an incorrect MI reporting Template; or c) is not submitted by the reporting date(including where a Nil Return should have been filed);

  • Service Failure means a failure by the Contractor to provide the Services in accordance with any individual service level described above (measured on a monthly/quarterly/annual basis)

  • Persistent Failure means any two (2) or more failures by the Supplier in any rolling period of twelve (12) months to comply with obligations in respect of the Contract Services under the Contract;

  • Technical Failure means a failure of the court's hardware, software, and/or telecommunications facility which results in the impossibility of submitting a file electronically. Technical failure does not include malfunctioning of the equipment of the person submitting an e-file.

  • GEP Failure means Seller’s failure to produce Delivered Energy in an amount equal to or greater than the Guaranteed Energy Production amount for the applicable Performance Measurement Period.

  • Service Level Failure means a failure to perform the Software Support Services fully in compliance with the Support Service Level Requirements.

  • Milestone Failure means a failure by the Grant Recipient fully to achieve any Milestone by the relevant Milestone Date;

  • Excused Outage means any disruption to or unavailability of Services caused by or due to (i) Scheduled Maintenance,

  • Catastrophic illness or “injury” means an illness or injury that is expected to incapacitate the employee for an extended period of time, or that incapacitates a member of the employee’s family which incapacity requires the employee to take time off from work for an extended period of time to care for that family member, and taking extended time off work creates a financial hardship for the employee because he or she has exhausted all of his or her sick leave and other paid time off.

  • Catastrophic Damage as used hereunder is major change or damage to In- cluded Timber on Sale Area, to Sale Area, to access to Sale Area, or a combination thereof:

  • Listing Failure Event means that:

  • Volume Failure means, with respect to a particular date of determination, the aggregate daily dollar trading volume (as reported on Bloomberg) of the Common Stock on the Principal Market on any Trading Day during the twenty (20) Trading Day period ending on the Trading Day immediately preceding such date of determination (such period, the “Volume Failure Measuring Period”), is less than $2,000,000 (as adjusted for any stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions occurring after the Subscription Date). All such determinations to be appropriately adjusted for any stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions during such Volume Failure Measuring Period.

  • Transaction Failure Date means the 18-month anniversary of the Effective Date (or the 24 month anniversary of the Effective Date, if a letter of intent, agreement in principle or definitive agreement has been executed within 18 months after the Effective Date and the Business Combination relating thereto has not yet been consummated within such 18-month period).

  • Excused Downtime means the number of minutes in the Charging Period that the LSP is unavailable due to:

  • Interruption Period shall have the meaning set forth in Section 5 hereof.

  • Price Failure means, with respect to a particular date of determination, the VWAP of the Common Stock on any Trading Day during the twenty (20) Trading Day period ending on the Trading Day immediately preceding such date of determination fails to exceed the Floor Price (as adjusted for stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions occurring after the Subscription Date). All such determinations to be appropriately adjusted for any stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions during any such measuring period.

  • Performance Failure shall have the meaning as set forth in Section 2.03(b)(i)(1).

  • Potential Failure to Pay means the failure by a Reference Entity to make, when and where due, any payments in an aggregate amount of not less than the Payment Requirement under one or more Obligations, without regard to any grace period or any conditions precedent to the commencement of any grace period applicable to such Obligations, in accordance with the terms of such Obligations at the time of such failure.

  • Cure Period means the period specified in this Agreement for curing any breach or default of any provision of this Agreement by the Party responsible for such breach or default and shall:

  • major accident means an incident involving loss of life inside or outside the site or 10 or more injuries inside and / or one or more injuries outside or release of toxic chemical or explosion or fire or spillage of hazardous chemicals resulting in ‘on-site’ or ‘off-site’ emergencies or damage to equipment leading to stoppage of process or adverse effects to the environment.

  • Persistent Breach means a Default which has occurred on three or more separate occasions with a continuous period of six (6) months.

  • Force Majeure Period has the meaning specified in Section 13.1.

  • Critical Service Failure shall have the meaning given in paragraph 5.4 of the Order Form;