De Minimis Amount Clause Samples
The De Minimis Amount clause sets a minimum threshold for claims or losses that must be exceeded before a party can seek compensation or take action under a contract. In practice, this means that minor or trivial breaches or losses below the specified amount are disregarded and cannot be pursued, streamlining the claims process and reducing administrative burdens. Its core function is to prevent parties from making insignificant claims, thereby focusing attention and resources on more substantial issues and promoting efficiency in contract enforcement.
POPULAR SAMPLE Copied 1 times
De Minimis Amount. Notwithstanding the foregoing, no payment pursuant to this Section SECTION 3 shall be made unless the aggregate amount of payments required under this Section SECTION 3 exceeds $10,000.
De Minimis Amount. In order to avoid paying claims in situations where the cost of processing the claim exceeds the payment made, no claim will be paid to any claimant if the total payment to that claimant would be $10 or less; in such an event, the payment amount will revert back to the Net Settlement Fund.
De Minimis Amount. (i) IP RemainCo shall not be required to indemnify, defend and hold harmless the Product SpinCo Indemnitees from and against any Indemnifiable Losses pursuant to Section 7.2 unless the aggregate amount of all such Indemnifiable Losses arising from a single claim or a series of related claims arising out of substantially similar facts, circumstances or occurrences exceeds $25,000 (the “De Minimis Amount”); provided, that in the event that the aggregate amount of Indemnifiable Losses which were not in excess of the De Minimis Amount exceeds $10,000,000 (the “Section 7.10(a) Basket”), the De Minimis Amount shall no longer apply, after which IP RemainCo shall be obligated for all Indemnifiable Losses under Section 7.2 from the first dollar regardless of the Section 7.10(a) Basket.
(ii) Product SpinCo shall not be required to indemnify, defend and hold harmless the IP RemainCo Indemnitees from and against any Indemnifiable Losses pursuant to Section 7.3 unless the aggregate amount of all such Indemnifiable Losses arising from a single claim or a series of related claims arising out of substantially similar facts, circumstances or occurrences exceeds the De Minimis Amount; provided, that in the event that the aggregate amount of Indemnifiable Losses which were not in excess of the De Minimis Amount exceeds the Section 7.10(a) Basket, the De Minimis Amount shall no longer apply, after which Product SpinCo shall be obligated for all Indemnifiable Losses under Section 7.3 from the first dollar regardless of the Section 7.10(a) Basket.
De Minimis Amount. Stockholder shall not be required to ----------------- indemnify, defend or hold Merger Subsidiary and Eastwind harmless from or against any Liability for the breach of any representation, warranty, covenant obligation or agreement contained in this Agreement unless and until the amount of such Liabilities incurred by Merger Subsidiary and Eastwind in the aggregate exceeds $10,000, and Stockholder shall then be obligated to indemnify only with respect to amounts which exceeds $10,000.
De Minimis Amount. The Sellers and Clariant Corp. shall not be liable, unless:
(i) in case of a Business Representation Claim (other than a Compliance Representation Claim, an Ironman Claims Representation Claim, or Tax Representation Claim or claim relating to an Affiliate Agreement Representation Breach) Losses resulting from a particular Business Representation Breach exceed an amount of EUR 150,000 (in words: Euro one hundred and fifty thousand) (the "De Minimis Amount");
(ii) in case of a Compliance Representation Claim, Losses resulting from the individual Compliance Representation Breach exceed an amount of EUR 100,000 (in words: Euro one hundred thousand);
(iii) in case of an Other Environmental Claim, the respective individual claim for indemnity exceeds an amount of EUR 100,000 (in words: Euro one hundred thousand); and
(iv) in case of a Tax Claim, such respective liability resulting from the individual Tax Claim exceeds in the aggregate an amount of EUR 25,000 (in words: Euro twenty five thousand).
De Minimis Amount. The Employer may distribute a Participant's vested balance in all Deferred Compensation Account(s) of the Participant at any time, whether or not a Qualifying Distribution Event has occurred if the balance does not exceed the limit in Section 402(g)(1)(B) of the Code and results in the termination of the Participant's entire interest in the Plan and any other Employer plan subject to aggregation under Section 409A of the Code.
De Minimis Amount. Seller shall not be required to ----------------- indemnify, defend or hold Buyer harmless from or against any Liability for the breach of any representation, warranty, covenant obligation or agreement contained in this Agreement unless and until the amount of such Liabilities incurred by Buyer in the aggregate exceeds $25,000, and Seller shall then be obligated to indemnify only with respect to amounts which exceeds $25,000.
De Minimis Amount. The Purchasers shall only be entitled to any claims for breach of any Seller's Guarantee to the extent each individual claim (or a series of claims arising from substantially identical facts or circumstances) exceeds an amount of EUR 50,000 (in words: Euro fifty thousand) ("DE MINIMIS AMOUNT"). Where the liability agreed or determined in respect of any such claim or series of claims exceeds the De Minimis Amount, the liability of the Seller shall be limited to the amount of the excess.
De Minimis Amount. Subject to Clause 12.4 below, a Party may bring a Claim against the other Party only if and to the extent the amount of such individual Claim or a series of similar Claims exceeds the sum of EUR 5,000 (in words: five thousand Euros).
De Minimis Amount. Sellers shall not be obligated to indemnify pursuant to this Article IX for breaches of representations and warranties (but which limitation shall not apply to breaches of covenants and agreements) with respect to any particular single or individual claim or Loss to the extent that such particular single or individual claim or Loss resulting from such breach is less than the De Minimis Amount, as defined and set forth in Schedule VIII; provided that (i) if the amount of such particular single or individual claim or Loss equals or exceeds the De Minimis Amount, then Sellers shall be liable for all claims or Losses related thereto (subject to the other provisions of this Article IX) and (ii) in each case, any claim or Loss or series of claims or Losses arising out of or relating to the same, substantially similar or substantially related facts, circumstances, occurrences, transactions or conditions shall be aggregated and constitute one single or individual claim or Loss hereunder; provided, however, that the De Minimis Amount shall not apply in respect of, or otherwise count against or be reduced by (and Sellers shall be fully and solely liable without limitation for), all Excluded Claims.