Service Guarantee Payment definition

Service Guarantee Payment means any payment or other benefit that 1 party provides to the other party if it fails to meet a Service Standard for which a guarantee payment is required to be paid if that Service Standard is not met;
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Service Guarantee Payment means any payment or other benefit that one party provides to the other party if it fails to meet a Service Standard in Schedule 1 for which a service guarantee payment is required to be paid if that Service Standard is not met.
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Examples of Service Guarantee Payment in a sentence

  • Except as provided in clause 9.10, the Trader’s only remedy if the Distributor fails to meet the timeframes in clause 4.11 is the payment of a Service Guarantee Payment in accordance with Schedule 1.

  • If the Trader becomes aware of or suspects a breach of a Service Standard that is subject to a Service Guarantee Payment by the Distributor, the Trader must give the Distributor notice of the breach or the reasons why it suspects that there has been a breach.

Related to Service Guarantee Payment

  • Guarantee 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.

  • Performance Guarantee means the security to be provided by the Contractor in accordance with Sub Clause 10.1 for the due performance of the Contract.

  • Guarantee Amount means the maximum amount payable under a guarantee which amount shall be specifically set forth in writing at the time the guarantee is entered into by the authority.

  • Collection Date means the date on which the aggregate outstanding principal amount of the Advances Outstanding have been repaid in full and all Yield and Fees and all other Obligations (other than unmatured contingent obligations for which no claim has been made) have been paid in full, and the Borrower shall have no further right to request any additional Advances.

  • Bond Service Charges means principal, including mandatory sinking fund requirements for retirement of obligations, and interest, and redemption premium, if any, required to be paid by the state on obligations.

  • Guarantor Obligations with respect to any Guarantor, all obligations and liabilities of such Guarantor which may arise under or in connection with this Agreement (including, without limitation, Section 2) or any other Loan Document to which such Guarantor is a party, in each case whether on account of guarantee obligations, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be paid by such Guarantor pursuant to the terms of this Agreement or any other Loan Document).