How is Service Commitment defined in a legal contract?
- Service Commitment means the duration that a customer has committed to pay for services, even if they are not used or terminated. This duration begins from the Service Activation Date as established in the [agreement] or [contract]. When this period expires, the services continue until terminated by either party in accordance with the terms of the [agreement] or [contract].
Seen in 9 SEC filings - Service Commitment means the duration post the Activation Date where a customer is obligated to pay for a specific service, as designated in the [agreement].
Seen in 6 SEC filings - Service Commitment means the compensation provided in case a transfer does not complete within the specified Transfer Time, as detailed in [clause].
Seen in 4 SEC filings - Service Commitment means a specific duration where a customer is pledged to pay for a particular service, as indicated in the [agreement]. The commitment starts on the Service Activation date related to that service.
Seen in 4 SEC filings - Service Commitment means a guarantee of 99.9% uptime within a month.
Seen in 2 SEC filings
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for ‘Definitions of service commitment’ yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Service Commitment means the duration a customer is obligated to pay for a certain service starting from the Service Activation Date, as per the [agreement].
Relevant Contract Type
Relevant Circumstances
- An organization offering subscription services where payment is required for a specified duration.
- A customer entering an agreement to utilize certain services for a certain time period.
- An agreement between two parties in which one party agrees to provide a specific service for a defined duration.
Relevant Sectors
Genie Definition 2
Service Commitment means a pledged uptime of 99.9% within a defined period.
Relevant Contract Type
Relevant Circumstances
- An Internet service provider guaranteeing a certain level of service availability to customers.
- A software provider committing to a certain uptime for their platform.
Relevant Sectors
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Service Commitment means the duration a customer is obligated to pay for a certain service starting from the Service Activation Date, as per the [agreement].
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