Performance Acceptance definition

Performance Acceptance shall apply to the Initial Commercial Products only and shall mean the Parties' mutual certification that the Initial Commercial Products satisfy the Product Performance Criteria set forth in Exhibit C.
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Performance Acceptance means the condition achieved when PRODUCT has achieved READY FOR START UP and has satisfactorily passed the performance tests.
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Performance Acceptance means, for the Initial Order, Customer's written notification to Seller of the Certificate of Performance Acceptance specified in Exhibit C, that the Products satisfy the Performance Criteria set forth in Exhibit C.
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Examples of Performance Acceptance in a sentence

  • In addition to the Salary, the Executive shall be to entitled to participate in the Company's existing short-term incentive plan for executives, as the same may be amended from time to time by the Board, and shall also be entitled to receive a bonus of one-half of his then Salary at the "Performance Acceptance Date" with respect to the Company's electric arc furnace as that term is defined under the Company's Term Loan Agreement as of the Effective Date.

  • The Performance Acceptance Procedure consists of a comparison of test results from a baseline period prior to commercial operation of Products (Baseline Performance Collection Phase) with results from a period of time in which the Products are installed and have been optimized in the SWCO's network (Performance Collection, Evaluation and Acceptance Phase) The Performance Acceptance Procedure consists of separate tests for Analog and CDMA.

  • For the Initial Order only, SWCO shall certify to Supplier that the Equipment has been accepted upon the successful achievement of the Performance Acceptance Procedure as specified in Article V.

  • During the Performance Acceptance Procedure, Supplier agrees to furnish sufficient resources to perform the tests and activities as outlined in this Article and in the time frames established between SWCO and Supplier.

  • After Final Performance Acceptance of the Biodiesel Project or the earlier take over and use of the Plant by the Purchaser, the Purchaser shall supply such security and take such steps to secure and protect such Biodiesel Project from loss, damage or destruction as the Purchaser shall reasonably deem necessary and prudent.

  • Notwithstanding Crown's acceptance of Products during the period in which Performance Acceptance has not occurred, Crown shall have the right to terminate this Agreement as set forth in the following paragraph.

  • The Purchaser and the Contractor hereby acknowledge and agree that the terms, conditions and amounts fixed pursuant to this Clause 34 for delay liquidated damages are reasonable and shall be deemed to be the genuine pre-estimate and reasonable loss which the Purchaser will suffer, considering the reduction in the value of the Plant or losses that the Purchaser will sustain in the event of the Contractor's failure to achieve Final Performance Acceptance within the Time for Completion.

  • If any component fails to complete the Performance Acceptance Period successfully within 10 days from the initial installation, INS, at its option may require replacement of the component or the entire system.

  • Notwithstanding the foregoing, if Crown elects to reduce the amount of the Initial Order to one hundred (100) Products pursuant to Section 8.1, the Initial Exclusivity Period shall be reduced to a period of sixty (60) days following the date of Performance Acceptance.

  • As soon as practicable following completion of Performance Acceptance, but in any event no later than forty five (45) days thereafter, Crown shall give Metawave a rolling four quarter Crown Forecast for the projected quantity of Products to be ordered by Crown pursuant to Follow-On Orders.


More Definitions of Performance Acceptance

Performance Acceptance. Owner" will review progress of developer on a weekly basis and sign-off on completed portions of the project.
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Performance Acceptance means that the FACILITIES have been commissioned and successfully operated by SAUDI ARAMCO and the SAUDI ARAMCO operating organization has issued a Performance Acceptance Certificate to Company Representative in accordance with GI 2.710 and the Job Specification.
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Performance Acceptance means, for the Initial Order, Customer's written notification to Seller of the Certificate of Performance Acceptance specified in Exhibit C, that the Products satisfy the Performance Criteria set forth in Exhibit C. "Performance Acceptance Procedure" shall mean, for the Initial Order, the testing procedures and protocols used to determine Product performance levels as described in Exhibit C. "Performance Criteria" shall mean the [**] set forth in Exhibit C, Section 3.7.3. to be [**] for the [**] Products [**] Initial Order [**] Performance Evaluation Period. "Performance Evaluation Period" shall mean the [**] in Exhibit C 3.7.2.1. [**] Products will [**] in [**] Performance Criteria. "Products" shall mean the SpotLight(TM) 2000 spectrum management systems, consisting of hardware and Software, listed in Exhibit A hereto or any additional products set forth in any amendments thereto as may be subsequently agreed to from time to time by Seller and Customer. "Purchase Order" shall mean any purchase order Customer may deliver to Seller for the purchase of the Products and/or Services which incorporates the terms and conditions of this Agreement and which has been accepted by Seller. "Purchase Price" shall mean the price of the Products and the price of the Services shown in Exhibit A or any other amount set forth in any amendments to Exhibit A as may be subsequently agreed to from time to time by Seller and Customer. "Services" shall mean the engineering services set forth in Exhibit A or any additional services set forth in any amendments to Exhibit A as may be subsequently agreed to from time to time by Seller and Customer. "Site" shall mean each of the Customer cell site locations at which a Product is installed. [***] CERTAIN INFORMATION ON THIS PAGE(S) HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.
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Performance Acceptance refers to such a fact that Buyer checks and accepts contract equipments when performance acceptance test results indicate that all safety values have been required upon technical agreement under this contract.
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Performance Acceptance means the acceptance by the Owner of final Performance of the Project pursuant to the conditions set out hereof and more particularly specified in Schedule [•].
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Related to Performance Acceptance

  • Performance Bank Guarantee means the irrevocable unconditional bank guarantee to be submitted by the successful bidder as per the RfS.

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • XXXX Acceptance Form means the “Acceptance Form for End User License Agreement (for SAP On Premise indirect sales)” which will be provided by SAP on a deal by deal basis.

  • Performance Agreement means an agreement between an HSP and its CEO that requires the CEO to perform in a manner that enables the HSP to achieve the terms of this Agreement and any additional performance improvement targets set out in the HSP’s annual quality improvement plan under the Excellent Care for All Act, 2010;

  • Performance Objective means a standard established by the Committee to determine in whole or in part whether a Performance Award shall be earned.

  • Performance Condition means a condition related to performance which is specified by the Committee under Rule 4.1 (Terms of grant);

  • Performance Security means monetary guarantee to be furnished by the successful Tenderer for due performance of the contract placed on it. Performance Security is also known as Security Deposit or Performance Bank Guarantee.

  • Performance Bank Guarantee/ Security Deposit means interest free amount to be deposited by the Contractor with NMRC as per terms and conditions of Contract Agreement as a security against the performance of the Contract agreement

  • Performance Award Formula means, for any Performance Award, a formula or table established by the Committee pursuant to Section 10.3 which provides the basis for computing the value of a Performance Award at one or more levels of attainment of the applicable Performance Goal(s) measured as of the end of the applicable Performance Period.

  • Performance Formula means, for a Performance Period, the one or more objective formulae applied against the relevant Performance Goal to determine, with regard to the Performance Compensation Award of a particular Participant, whether all, some portion but less than all, or none of the Performance Compensation Award has been earned for the Performance Period.

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Performance Bond means the financial security for performance a USF Service Provider must furnish in accordance with section 54 of this RFA;

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.

  • Conditional Acceptance means a conditional acceptance by the Liquidity Provider of an extension of the Scheduled Termination Date.

  • Confirmation of Acceptance shall have the meaning specified in paragraph 2B(5).

  • Performance Unit Award means an award of Performance Units under this Plan.

  • Performance Stock Unit means a right granted to a Participant pursuant to Section 8.2, to receive Stock, the payment of which is contingent upon achieving certain Performance Goals or other performance-based targets established by the Committee.

  • Additional Performance Security means the Bank Guarantee to be submitted by Successful Bidder in accordance with Clause 8.7 of this RFP Document

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • Performance Date means December 31, 2025. If the Locality, in consultation with VEDP, deems that good faith and reasonable efforts have been made and are being made by the Company to achieve the Targets, on or before the Performance Date the Locality may request an extension of the Performance Date by up to 15 months. Any extension of the Performance Date shall require the prior approval of the Company and the Board of Directors of VEDP (the “Board”). If the Performance Date is extended, the Locality shall send written notice of the extension to the Authority, the Company and VEDP and the date to which the Performance Date has been extended shall be the “Performance Date” for the purposes of this Agreement.

  • Performance Objectives means the performance objective or objectives established by the Committee pursuant to the Plan. Any Performance Objectives may relate to the performance of the Company or one or more of its Subsidiaries, divisions, departments, units, functions, partnerships, joint ventures or minority investments, product lines or products, or the performance of the individual Participant, and may include, without limitation, the Performance Objectives set forth in Section 13(b). The Performance Objectives may be made relative to the performance of a group of comparable companies, or published or special index that the Committee, in its sole discretion, deems appropriate, or the Company may select Performance Objectives as compared to various stock market indices. Performance Objectives may be stated as a combination of the listed factors.

  • Performance audit means an objective and systematic assessment of a state agency or agencies or any of their programs, functions, or activities by the state auditor or designee in order to help improve agency efficiency, effectiveness, and accountability. Performance audits include economy and efficiency audits and program audits.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • Performance Standard means the acceptable range of performance for a Performance Indicator or a Service Volume that results when a Performance Corridor is applied to a Performance Target.

  • Performance Letter of Credit means any Letter of Credit of the Borrower or a Guarantor that is issued for the benefit of a municipality, other governmental authority, utility, water or sewer authority, or other similar entity for the purpose of assuring such beneficiary of the Letter of Credit of the proper and timely completion of construction work.

  • Performance Unit means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10.