Test Notice definition

Test Notice has the meaning set forth in Section 10.01(b).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Test Notice has the meaning set forth in Section 10.1(b). “Tests” means collectively, actions taken to verify the performance of the Project, including achievement of the Performance Requirements. “Vendor” means any supplier, manufacturer or vendor of Equipment to Contractor or any Subcontractor. “Version” means a version of the Software, as signified by the number to the left of the decimal point (i.e., a change in numbers to the left of the decimal point represents a new Version, such as Version 1.0 to Version 2.

Test Notice has the meaning set forth in Section 10.1.2, Test Notice, of Article X, SYNCHRONIZATION, TESTS, MECHANICAL COMPLETION, PROVISIONAL ACCEPTANCE AND FINAL ACCEPTANCE

Examples of Test Notice in a sentence

• Upon receipt of such Breach of Asset Cover Test Notice the Issuer will (continue to) use its best efforts to transfer or procure the transfer of sufficient Eligible Assets to the CBC, either directly or indirectly by it.

• Upon receipt of such Breach of Asset Cover Test Notice the Issuer will (continue to) use its best efforts to procure the transfer of sufficient Eligible Assets by the Transferors to the CBC.

• Upon receipt of such Breach of Asset Cover Test Notice the Issuer will (continue to) use its best efforts to transfer or procure the transfer of sufficient Eligible Receivables to the CBC, either directly or indirectly by it.

• Contractor shall deliver a Test Notice at least ten (10) Business Days prior to the commencement of any Test.

• If at any time, after the occurrence of an Assignment Notification Event or the service of a Breach of Asset Cover Test Notice, a Notice to Pay or a CBC Acceleration Notice, an Originator or the Transferor receives moneys from a Borrower and it is unsure as to whether such moneys have been paid in respect of the relevant Mortgage Loan or a relevant other mortgage loan, it will promptly pay such amount into the CBC Account as a payment in respect of the relevant Mortgage Loan.

• Upon receipt of such Breach of Asset Cover Test Notice the Issuer will (continue to) use its best efforts to transfer or procure the transfer of sufficient Eligible Receivables, either directly by the Issuer or, upon instruction of the Issuer, by the other Transferors to the CBC.

• If Owner, within five (5) Business Days after its receipt of such Test Notice, delivers to Contractor a written notice (i) denying that the prerequisites for performing such Test have been completed and (ii) stating the facts upon which such reasonable denial is based, then upon receipt of such notice, Contractor shall take such action as is appropriate to remedy the conditions described in such notice from Owner.

• Distributor shall hold inventory of Test Products in quantities consistent with the Test Notice.

• If a Breach of Asset Cover Test Notice is served, the CBC will not be obliged to make payments under Clause 8 above until (a) an Issuer Acceleration Notice and a Notice to Pay have been served or (b) a CBC Event of Default has occurred and a CBC Acceleration Notice has been served.

• Distributor shall work with UFPC after a receipt of a Test Notice to ensure: (i) adequate supply of Test Products by the start date and throughout the test; and (ii) appropriate inventory levels of Test Products are in Distributor’s distribution centers at the UFPC requested times.