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Service Level Agreement

This “Service Level Agreement” is made a part of and incorporated by reference into the Order Form and MSA between Leapfin and Customer.

  1. Definitions. For purposes of this Service Level Agreement, the following terms have the meaning ascribed to each term below:
    “Downtime” means if Customer is unable to access the Service by means of a web browser and/or API as a result of failure(s) in the Service or architecture, as confirmed by Leapfin.
    “Monthly Uptime Percentage” means the total number of minutes in a calendar month minus the number of minutes of Downtime suffered in a calendar month, divided by the total number of minutes in a calendar month.
    “Service Credit” means the number of days that Leapfin will add to the end of the Term, at no charge to Customer.
  2. Service Level Warranty. During the Term, the Service will be operational and available to Customer at least 99.5% of the time in any calendar month (“Service Level Warranty”). If the Monthly Uptime Percentage does not meet the Service Level Warranty in any calendar month, and if Customer meets its obligations under this Agreement, then Customer will be eligible to receive Service Credit as follows: 

    Uptime

    Days Credited

    < 99.0% – ≥98.0%

    3

     < 98.0% – ≥ 95.0%

    7

    < 95.0%

    15
  3. Customer Must Request Service Credit. In order to receive Service Credit, Customer must notify Leapfin within 30 days from the time Customer becomes eligible to receive a Service Credit under the terms of this Agreement.  Failure to comply with this requirement will forfeit Customer’s right to receive Service Credit.
  4. Maximum Service Credit. The aggregate maximum amount of Service Credit to be issued by Leapfin to Customer for all Downtime that occurs in a single calendar month will not exceed 15 days. Service Credit may not be exchanged for, or converted into, monetary amounts.
  5. Exclusions. The Service Level Warranty does not apply to any performance issues that: (i) are caused by riots, insurrection, fires, flood, storm, explosions, acts of God, war, terrorism, earthquakes, or any other causes that are beyond Leapfin ’s reasonable control so long as Leapfin uses commercially reasonable efforts to mitigate the effects of such force majeure; (ii) resulted from Customer’s equipment or third party equipment or service (e.g. Customer’s internet connection), or both; or (iii) resulted from Customer’s violation of the Agreement.
  6. Exclusive Remedy. This Service Level Agreement sets forth Customer’s sole and exclusive remedy for any failure by Leapfin to meet the Service Level Warranty.
  7. Chronic Failure & Termination Right. Customer shall have the right to terminate the Agreement upon notice to Leapfin in the event Leapfin fails to substantially comply with the Service Level Warranty as follows: (a) if the Service Level Warranty is not met on two (2) or more separate occasions in a 1-month period; or (b) if the Service Level Warranty is not met on three (3) or more separate occasions in a 6 month period.