Total Systems Failure definition

Total Systems Failure means, in respect of any Distribution Date, a total failure of the computer system (including but not limited to off-site backup systems) of the Servicer or the Administrative Servicer which contain records relating to the Receivables, the effect of which would make it impossible or impracticable for the Servicer or the Administrative Servicer to perform the acts required to be performed hereunder on or in anticipation of such Distribution Date.
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Examples of Total Systems Failure in a sentence

  • The Servicer shall promptly notify the Trustee, each Purchaser Representative and each Enhancement Provider when a Total Systems Failure has been remedied.

  • The Servicer shall promptly notify the Trustee, each Purchaser Representative and each Enhancement Provider of any Total Systems Failure and shall advise the Trustee and each Purchaser Representative of the estimated time required in order to remedy such Total Systems Failure and of the estimated date on which a monthly Servicer's report can be delivered.

  • Debtors and Canopy believe this Stipulation to be in the best interests of the estate and Canopy, and respectfully request the Court approve this Stipulation according to its terms.

  • The Servicer shall promptly notify the Trustee and each Certificateholder in writing when a Total Systems Failure has been remedied.

  • The Servicer shall promptly notify the Agent when a Total Systems Failure has been remedied.

  • The Servicer shall promptly notify the Agent of any Total Systems Failure and shall advise the Agent of the estimated time required in order to remedy such Total Systems Failure and of the estimated date on which a Servicer Report can be delivered.

  • The Servicer shall promptly notify the Trustee and each Enhancement Provider of any Total Systems Failure and shall advise the Trustee of the estimated time required in order to remedy such Total Systems Failure and of the estimated date on which a Monthly Servicer's Report can be delivered.

  • The Servicer shall promptly notify the Trustee, each Purchaser Representative and each Enhancement Provider of any Total Systems Failure and shall advise the Trustee and each Purchaser Representative of the estimated time required in order to remedy such Total Systems Failure and of the estimated date on which a monthly Servicer’s report can be delivered.

  • The Servicer shall promptly notify the Issuer, the Indenture Trustee when a Total Systems Failure has been remedied.

  • The Servicer shall promptly notify the Trustee and each Enhancement Provider when a Total Systems Failure has been remedied.

Related to Total Systems Failure

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

  • Technical Failure means the discontinuation of Development or Commercialization of a Product for technical, scientific, medical or regulatory reasons, including, but, not limited to, unacceptable preclinical toxicity, demonstration of a side effect profile significantly worse than currently marketed products, or inability to manufacture in an acceptable purity or for an acceptable price.

  • total system means the transmission system and the distribution system of the Board taken together;

  • 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)

  • Supply Failure has the meaning given to it in Section 7.5.2 (Supply Failure).

  • 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;

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

  • 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 Days during the five (5) Trading Day period ending on the Trading Day immediately preceding such date of determination (such period, the “Volume Failure Measuring Period”), is less than $250,000 (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.

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

  • Listing Failure Event means that:

  • 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.

  • Network Availability means the capability of the equipment to resume functions after a remotely initiated trigger has been detected by a network port;

  • Generator Planned Outage means the scheduled removal from service, in whole or in part, of a generating unit for inspection, maintenance or repair with the approval of the Office of the Interconnection in accordance with the PJM Manuals.

  • Price Failure means, with respect to a particular date of determination, the VWAP of the Common Stock on any Trading Day during the seven (7) 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 date hereof). 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.

  • 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.

  • System Availability means, with respect to any particular calendar month, the ratio obtained by subtracting Unscheduled Downtime during such month from the Total Monthly Time, and thereafter dividing the difference so obtained by the Total Monthly Time. Represented algebraically, System Availability for any particular calendar month is determined as follows:

  • Planned Outage means the removal of equipment from service availability for inspection and/or general overhaul of one or more major equipment groups. To qualify as a Planned Outage, the maintenance (a) must actually be conducted during the Planned Outage, and in Seller’s sole discretion must be of the type that is necessary to reliably maintain the Project, (b) cannot be reasonably conducted during Project operations, and (c) causes the generation level of the Project to be reduced by at least ten percent (10%) of the Contract Capacity.

  • Daily Failure Amount means the product of (x) .005 multiplied by (y) the Closing Sale Price of the Common Stock on the applicable Share Delivery Date.

  • Excused Outage means any disruption to or unavailability of Services caused by or due to (i) Scheduled Maintenance,

  • Subproject means a specific activity carried out under Part 1 of the Project, financed or proposed to be financed through a Subproject Loan (as hereinafter defined).

  • Major renovation means the renovation of a building where: