Common use of De Minimis Threshold Clause in Contracts

De Minimis Threshold. Notwithstanding anything to the contrary herein, if the absolute value of 42.54% of the Total Projection Adjustment Amount is equal to or less than US$95,000,000, there shall be no amounts payable pursuant to the SDC Commercial Projection Representation Indemnity or the Corning Commercial Projection Representation Indemnity by any Party and 42.54% of the Total Projection Adjustment Amount shall be deemed to be zero U.S. Dollars (US$0.0) in calculating the Final Adjustment Amount under Section 10.11 above; provided that if the absolute value of the 42.54% of the Total Projection Adjustment Amount is greater than US$95,000,000, then 42.54% of the Total Projection Adjustment Amount shall be determined from the first dollar (i.e., without regard to the US$95,000,000 threshold).

Appears in 2 contracts

Sources: Framework Agreement (Corning Inc /Ny), Framework Agreement (Corning Inc /Ny)