Good Faith Contest means the contest of an item if: (1) the item is diligently contested in good faith, and, if appropriate, by proceedings timely instituted (2) adequate reserves are established with respect to the contested item (3) during the period of such contest, the enforcement of any contested item is effectively stayed and (4) the failure to pay or comply with the contested item during the period of the contest is not likely to result in a Material Adverse Change. Good Faith Efforts means actions undertaken by a bidder or contractor to achieve a Contract Specific Goal that the CPO or his or her designee has determined, by their scope, intensity, and appropriateness to the objective, can reasonably be expected to fulfill the program’s requirements. Good Faith Deposit has the meaning given such term in Section 2.6(a) of this Agreement. Good faith means that degree of diligence which a reasonable person would exercise in the performance of legal duties and obligations īad Faith means, with respect to any determination, action or omission, of any Person, board or committee, that such Person, board or committee reached such determination, or engaged in or failed to engage in such act or omission, with the belief that such determination, action or omission was adverse to the interest of the Partnership.
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