Service Level Failure means a failure to perform the Software Support Services fully in compliance with the Support Service Level Requirements.
Contractor Default shall have the meaning set forth in Clause 23.1;
Minor Default means any Event of Default that is not a Major Default.
Default under Specified Transaction provisions of Section 5(a)(v) will not apply to Party A and will not apply to Party B.
Service Level means the standard set forth below by which IBM measures the level of service it provides in this SLA.
Customer Default has the meaning set out in clause 8.3.
Non-Monetary Default Cure Period shall have the meaning assigned to such term in Section 11(d).
Service Level Credit is defined in Section 8.
Excused Downtime means the number of minutes in the Charging Period that the LSP is unavailable due to:
Network Termination Point (NTP) means the physical point at which a subscriber is provided with access to a public communications network; in the case of networks involving switching or routing, the NTP is identified by means of a specific network address, which may be linked to a subscriber number or name;
Periodic Term SOFR Determination Day has the meaning specified in the definition of “Term SOFR”.
Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).
Service Level Agreement (SLA) means the Contractual Commitment that prevails between the Buyer and the Service Provider with regard to type of service to be provided, deliverables, desired performance level, reliability and responsiveness, monitoring process and service level reporting, response and issue resolution time-frame, repercussions / penalties / remedies for service provider not meeting its commitment. The SLA of a particular contract may carry the matrix regarding the delivery of the goods and/or services and the corresponding penalties or remedies and liquidated damages as applicable.
Reference Interest Rate Transition Event means the occurrence of one or more of the following events with respect to the then-current Reference Interest Rate:
Financial Covenant Event of Default has the meaning specified in Section 8.01(b).
SOFR Benchmark Transition Event means the occurrence of a Benchmark Transition Event with respect to the then-current Benchmark;
Service Levels means the service levels to be met by the Services as referenced in the Contract Letter and set out in the Specification Schedule.
Benchmark Transition Event means the occurrence of one or more of the following events with respect to the then-current Benchmark:
Critical Service Failure shall have the meaning given in paragraph 5.4 of the Order Form;
Service Level Agreement or SLA means the processes, deliverables, key performance indicators and performance standards relating to the Services to be provided by the Service Provider;
Financial Covenant Default has the meaning assigned to such term in Section 8.01(6).
mandatory control level RBC ’ means the product of .70 and the authorized control level RBC.
Liquidity Provider Ratings Event Termination Date means the date established by the Tender and Paying Agent, acting upon instructions of the Fund pursuant to the Tender and Paying Agent Agreement, for termination of the VRDP Purchase Agreement upon the occurrence of a Liquidity Provider Ratings Event, which date shall be not less than 16 days nor more than 30 days following such Liquidity Provider Ratings Event.
Employer default means having an outstanding balance or liability to the old fund or to the uninsured employers' fund or being in policy default, as defined in W. Va. Code § 23-2c-2, failure to maintain mandatory workers' compensation coverage, or failure to fully meet its obligations as a workers' compensation self-insured employer. An employer is not in employer default if it has entered into a repayment agreement with the Insurance Commissioner and remains in compliance with the obligations under the repayment agreement.
Force Majeure Event means an event beyond the reasonable control of any party including an outbreak of a serious disease or epidemic, or quarantine or other public health emergencies, fire, flood, earthquake, explosion or other casualty or accident or act of God, or war or other violence, strike, lock-out, labour dispute, acts of any governmental body, war, insurrection, sabotage, embargo, interruption of or delay in transportation, unavailability of or interruption or delay in telecommunications or inability to obtain raw materials, supplies or power.
Customer channel termination point means the location where the customer either inputs or receives the communications.