Examples of Performance Credit in a sentence

Authorized Users have the right to sign a maintenance agreement that increases the Performance Credit as stated, but the Performance Credit can’t be eliminated through negotiation.
No more than quarterly, City shall have the right to audit Contractor’s books, records, and measurement and auditing tools to verify service level obligations achievement and to determine correct payment of any Performance Credit.
Where it is determined that any Performance Credit was due to City but not paid, Contractor shall immediately owe to City the applicable Performance Credit.
If the Index Return is negative and extends beyond the Buffer, then the Performance Credit for that Index Option is equal to the Index Return plus the Buffer.
Where Contractor fails to provide a report for a service level standard described herein in the applicable timeframe, the service level standard shall be deemed to be completely failed for the purposes of calculating a Performance Credit.

More Definitions of Performance Credit

Performance Credit means a Letter of Credit used directly or indirectly to cover a default in the performance of any non-financial or commercial obligations of the Company or any Subsidiary under specific contracts, and any Letter of Credit issued in favor of a bank or other surety who in connection therewith issues a guarantee or similar undertaking, performance bond, surety bond or other similar instrument that covers a default of any such performance obligations, that is classified as a performance standby Letter of Credit by the FRB and by the OCC.

Performance Credit has the meaning set forth in Exhibit 3.

Performance Credit means credit, if any, due to City by Contractor with regard to Contractor’s service level obligations in the accompanying Purchase Order, Corresponding Documents and/or Exhibit 3 (Service Level Obligations: Minimum Requirements), as the case may be.

Performance Credit means credit due to City by Contractor with regard to Contractor’s service level obligations in Appendix D (Service Level Obligations)for Contractor’s failure to meet Performance Requirements in Appendix D (Performance Requirements) in an amount determined in Appendix F (Liquidated Damages).

Performance Credit will be subtracted from the annual calculation of Net Performance Gain (Loss) (as described in #2 above) in the same Side-by-Side Calendar Year Portfolio in which the Performance Credit was generated (as described in #2 above) in each of the next seven years or until all securities in the same Side-by-Side Calendar Year Portfolio are liquidated, whichever occurs first. Performance Credits shall be deemed to include outstanding performance credits, if any, for purposes of performance fee calculations under the investment advisory and management agreement between Client and Equitable Capital Management Corporation (the "Equitable Capital Agreement") which this agreement replaces. For Side-by-Side Calendar Year Portfolios established through 1989, a Net Performance Gain can occur (and a Performance-Based Fee would be earned) in the event of a Portfolio Loss if the Hurdle Amount is negative by an amount greater than the Portfolio Loss and any applicable Performance Credits are less than the amount of such difference. Portfolio Gain (Loss) means for each Side-by-Side Calendar Year Portfolio during the computation period, the sum of any realized gains, earned or accrued interest and dividends, interest accrued on original issue discount instruments, any write-ups as provided in b) of the definition of "Asset-Based Fee" above minus any realized losses and any write-downs as provided in a) of such definition.

Performance Credit means a credit in an amount calculated in accordance with Section 1.5 (Overview of Performance Credit Process for Service Level Failures) payable to Chordiant by Supplier in connection with Service Level Failures.