Define: Major Problem

How is Major Problem defined in a legal contract?

• Major Problem means a substantial error that significantly hampers the usage of services but does not make them fully non-functional. This can include an issue that obstructs the use of an essential feature, or a fault needing constant input to maintain effective operation. The responsible entity will respond and aim to rectify Major Problems within a certain time frame. Seen in 4 SEC filings
• Major Problem means an error that largely restricts the use of services but does not render them unusable. This could be the inability to launch a crucial application, function, or feature, or a failure requiring ongoing intervention to preserve productive use. Seen in 2 SEC filings
• Major Problem means software inadequacies that prevent initiation or block user access. Namely, repetitive periods of 36 months during which the Software and Services are provided. Seen in 1 SEC filing
• Major Problem means a considerable issue that significantly impacts business operations and necessitates immediate attention due to causing severe disruption in important service features. An alternate process is available to manage the affected operations. Seen in 1 SEC filing
• Major Problem means significant software deficiencies that prevent its operation according to documentation or cause a substantial impact on a production system. Seen in 1 SEC filing
• Major Problem means a failure in Services compliance that affects an entity's ability to provide services to itself or customers, assuming the failure is not triggered by the entity, its customers, or any installed data or program. Seen in 1 SEC filing
• Major Problem means a failure that restricts the performance of critical system functions but can be bypassed temporarily. It could severely impair vital system administration or maintenance functions, substantially increase user complaints, or result in intermittent service failure or loss of some user functions. Seen in 1 SEC filing
• Major Problem means one where the software or technology will not initialize, or no users can access it. Seen in 1 SEC filing

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 major problem' yourself to verify these results. We are always keen to point people to source documents.

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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.

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Genie Definition 1

Major Problem means a substantial issue causing significant hampering to service or software usage, yet allowing partial functioning.

Relevant Contract Types

• Software as a Service Agreement
• Data Processing Agreement
• Software Development Agreement
• Consultancy Agreement
• Service Agreement

Relevant Circumstances

• System or software malfunction, disruption, or failure
• Downgraded functionality of a digital product, software, or service
• Adverse impact on user experience or performance

Relevant Sectors

• Technology
• eCommerce
• Information Services

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Genie Definition 2

Major Problem means a severe failure requiring continued intervention, impacting business operation or user access.

Relevant Contract Types

• Supply of Goods Agreement
• Software Licensing Agreement
• Outsourcing Services Agreement
• Product Agreement
• Non-exclusive Distribution Agreement

Relevant Circumstances

• Interruptions in supply chain or distribution
• Serious faults in a product or service requiring long-term fixes
• Failures that impede business operation or limit user access

Relevant Sectors

• Manufacturing
• Distribution
• Software
• Telecommunications
• Retail

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