Major Equipment Failure definition

Major Equipment Failure. The failure of any major piece of equipment, systems or facilities forming part of the Complex that materially interrupts or materially and adversely affects the continued operation of the Complex.
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Major Equipment Failure means that Major Equipment Failure has occurred and that the equipment or major parts, cannot be repaired and that replacement, along with components and appurtenances, is required for the resumption of normal first-class service to the system.
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Major Equipment Failure means the failure of any major piece of equipment, system or facility forming part of a Unit or the Plant (as applicable) for which a spare is not required to be maintained on or in proximity to the Site in accordance with Good Industry Practices and which an independent expert, the appointment of whom is agreed between the Parties, confirms causes a Forced Outage or Partial Forced Outage that impacts the ability of Seller to meet the Minimum Availability and for which a replacement piece of equipment, system or facility cannot, through Seller’s Reasonable Endeavours, be obtained so as to prevent Seller failing to meet the Minimum Availability for the relevant Contract Year.
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Examples of Major Equipment Failure in a sentence

  • If Annual Available Capacity cannot be restored to the minimum levels within one year for a reason other than an Availability Event, Major Equipment Failure or a Force Majeure Event, Buyer may elect to terminate this Agreement (and such termination shall constitute a Seller Default).


More Definitions of Major Equipment Failure

Major Equipment Failure means any failure of Goods and/or Services provided to the Client by Voda pursuant to the terms of this Agreement which prevents the Client's business from operating in critical sectors, including:
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Related to Major Equipment Failure

  • Major Equipment means the items of Equipment listed as such in Attachment G.

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

  • 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;

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

  • 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)

  • Consistent Failure means any of:

  • 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);

  • 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.

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

  • 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.

  • 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.

  • Listing Failure means the situation where the Bonds have not been listed on the corporate bond list of Nasdaq Stockholm (or any other Regulated Market) within sixty (60) calendar days after the Issue Date.

  • 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.

  • 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.

  • Warranty Period /„Maintenance Period‟ shall mean the period during which the Contractor shall remain liable for repair or replacement of any defective part of the Works performed under the Contract.

  • Contractor Equipment means all appliances and things of whatsoever nature (other than temporary works) required for execution and completion of works and remedying of any defects, therein. But does not include plant, materials or other things intended to form or forming part of the permanent works.

  • Major renovation means the renovation of a building where:

  • Reporting Failure has the meaning set forth in Section 2.4.

  • Installation Date means the date specified in the Statement of Work by which the Contractor must have the ordered Equipment ready (certified) for use by the State.

  • Transaction Failure means the failure to consummate a Business Combination within 18 months of the Effective Date (or 24 months after 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).

  • 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).

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;

  • Major Work means any Work to Construct or Maintain the Distribution System that costs more than One Hundred Thousand ($100,000.00) Dollars;

  • Improvement warranty period means a period:

  • Listing Failure Event means that:

  • Project Commencement Date means the commencement date notified to the Minister pursuant to clause 4(1);