Ceiling Amount Clause Samples

The Ceiling Amount clause sets a maximum financial limit on the total payments or liabilities that one party may be required to make under a contract. In practice, this means that regardless of the number or value of claims, invoices, or damages that arise, the responsible party will not be obligated to pay more than the specified ceiling amount. This clause is commonly used in service agreements, construction contracts, or indemnity provisions to cap potential exposure. Its core function is to provide certainty and manage risk by preventing unlimited financial liability for the obligated party.
Ceiling Amount. CONTRACTOR shall not be obligated to pay the Subcontractor any amount in excess of the ceiling amount set forth in the Order, and the Subcontractor shall not be obligated to continue performance if to do so would exceed the ceiling amount set forth in the Order, unless and until the Subcontract Administrator shall have notified the Subcontractor in writing that the ceiling amount has been increased and shall have specified in the notice a revised ceiling that shall constitute the ceiling amount for performance under the Order(s). When and to the extent that the ceiling amount set forth in this article has been increased, any hours expended by the Subcontractor in excess of the ceiling amount before the increase shall be allowable to the same extent as if the hours expended had been incurred after the increase in the ceiling amount.
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Ceiling Amount. The aggregate liability for indemnification under Section 14.1 of the Shareholders shall in no event exceed the Purchase Price (the "Indemnification Ceiling").
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Ceiling Amount. In no event shall the aggregate liability of Seller and Nexans (taken as a whole) under Section 10.02(a) exceed twenty percent (20%) of the Purchase Price, provided that such aggregate liability (taken as a whole) under Section 10.02(a) shall not exceed the Purchase Price with respect to any Losses arising from a breach by Seller of its representation set forth in Section 3.07(b) hereof.
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Ceiling Amount. An estimate of the cost of the Services is set forth in Appendix C (Remuneration) and Appendix D ([Reimbursable expenses]).
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Related to Ceiling Amount

  • Maximum Drawing Amount The maximum aggregate amount that the beneficiaries may at any time draw under outstanding Letters of Credit, as such aggregate amount may be reduced from time to time pursuant to the terms of the Letters of Credit.

  • Bidding Amount 8.1. The Auctioneer shall have discretion to determine the increase of bidding rate based on the total number of Registered E-Bidders and value of the property auctioned. 8.2. In the event there is only one Registered E-Bidders during the auction, the public auction will begin at the property's reserve price while if there are more than one Registered E-Bidders, the public auction will begin at the increment rate which to be determined.

  • Funding Amount “Funding Amount” means an amount not to exceed One Million Four Hundred Thousand Dollars ($1,400,000.00) of tax increment finance revenues to be used for paying the costs associated with the construction, equipping, inspection, and delivery of the Local Public Improvements.

  • 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.

  • Intent to Limit Charges to Maximum Lawful Rate In no event shall the interest rate or rates payable under this Agreement, plus any other amounts paid in connection herewith, exceed the highest rate permissible under any law that a court of competent jurisdiction shall, in a final determination, deem applicable. Borrower and the Lender Group, in executing and delivering this Agreement, intend legally to agree upon the rate or rates of interest and manner of payment stated within it; provided, however, that, anything contained herein to the contrary notwithstanding, if said rate or rates of interest or manner of payment exceeds the maximum allowable under applicable law, then, ipso facto, as of the date of this Agreement, Borrower is and shall be liable only for the payment of such maximum as allowed by law, and payment received from Borrower in excess of such legal maximum, whenever received, shall be applied to reduce the principal balance of the Obligations to the extent of such excess.