Aggregate Payout Amount Clause Samples

The Aggregate Payout Amount clause sets a maximum limit on the total amount that can be paid out under a contract, regardless of the number or size of individual claims. In practice, this means that if multiple claims are made, the combined payments to all claimants cannot exceed the specified aggregate cap. This clause is commonly used in insurance and indemnity agreements to control the financial exposure of the party providing coverage. Its core function is to allocate and limit risk by ensuring that the total liability remains predictable and manageable for the responsible party.
Aggregate Payout Amount. If you reach the Aggregate Payout Amount, you will no longer be eligible to receive a Payout Amount until the aggregate Payout Amounts paid for covered Service Requests during any rolling twelve (12) month period, as measured by the date you filed your first covered Service Request, during the applicable period are less than the Aggregate Payout Amount for that rolling twelve (12) month period. During this time period, you will still be eligible to submit a Service Request for a Covered Item(s), subject to the Repair Maximum and the Post Payout Repair Limitation. If the repair of your Covered Item will exceed the Repair Maximum or cannot be repaired as determined by us in our sole discretion as described in this Plan Agreement, you will be responsible for any costs necessary to complete the repair or replacement of your Covered Item. In order to continue to receive coverage on the Covered Item during the Plan Agreement Term, you may be required to provide Frontdoor with proof of repair or replacement upon our request. Payout Amounts received for Additional Covered Options Covered Items are not included in the calculation of the Aggregate Payout Amount.
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Aggregate Payout Amount. (a) If the Company’s Pre-Tax Margin for a Plan Year is less than or equal to ten percent (10%), the Aggregate Payout Amount for such Plan Year shall be equal to ten percent (10%) of Income for such Plan Year, provided such amount is in excess of $1,000,000.00. (b) If the Company’s Pre-Tax Margin for a Plan Year is greater than ten percent (10%), the Aggregate Payout Amount for such Plan Year shall be equal to the sum of (i) ten percent (10%) of that portion of Income for such Plan Year which portion would have resulted in the Pre-Tax Margin being equal to ten percent (10%) (the “10% Margin Portion”) and (ii) fifteen percent (15%) of Income for such Plan Year in excess of the 10% Margin Portion, provided the sum of (i) and (ii) is in excess of $1,000,000.00. (c) If the amount determined under (a) or (b) is less than $1,000,000.00, the Aggregate Payment Amount shall be zero.
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Aggregate Payout Amount. The amount determined under the provisions of Section 4.1 below for any Plan Year.
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Related to Aggregate Payout Amount

  • Aggregate Purchase Price The aggregate purchase price for the Notes (the “Aggregate Purchase Price”) shall equal the result of (x) divided by (y), where (x) equals the Aggregate Principal Amount and (y) equals 1.25. Each date upon which a Closing occurs is a “Closing Date”.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • Maximum Total Payment Including the reimbursable expenses shown above (if any), the maximum total payment under this Contract is $ ; this is a not-to-exceed amount, and the District will not pay more than this amount unless specifically agreed to in an amendment executed by the parties.

  • Maximum Contribution The total amount you may contribute to an IRA for any taxable year cannot exceed the lesser of 100 percent of your compensation or $6,000 for 2019 and 2020, with possible cost- of-living adjustments each year thereafter. If you also maintain a ▇▇▇▇ ▇▇▇ (i.e., an IRA subject to the limits of Internal Revenue Code Section (IRC Sec.) 408A), the maximum contribution to your Traditional IRAs is reduced by any contributions you make to your ▇▇▇▇ IRAs. Your total annual contribution to all Traditional IRAs and ▇▇▇▇ IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your compensation.

  • Payment Amount Payment for the Services shall be as follows: (choose one) ☐ - $______________________ for the Services (“Payment”). ☐ - At an hourly rate of $____ per hour (“Payment”). ☐ - Other. ______________________________________________ (“Payment”) If the Subcontractor asserts a claim which involves, in whole or in part, acts or omissions which are the responsibility of the Client or another person for whom a claim may be submitted, including but not limited to, claims for failure to pay, an extension of time, impacts, delay damages, or extra work, the Contractor shall present the Subcontractor's claim to the Client or other responsible party provided the Subcontractor presents to Contractor competent supporting evidence and in sufficient time for the Contractor to do so. The Subcontractor shall cooperate fully with the Contractor in any and all steps the Contractor takes in connection with prosecuting such a claim and shall hold harmless and reimburse the Contractor for all expenses, including legal expenses, incurred by the Contractor which arise out of the Contractor's submission of the Subcontractor's claims to the Client or other responsible party(ies). The Subcontractor shall be bound by any adjudication or award in any action or proceeding resolving such a claim.