Common use of Monetary Limits Clause in Contracts

Monetary Limits. 16.9.1 Subject to clauses 16.9.2 to 16.9.5 the Vendor is not liable to the Purchaser for any Claim or series of Claims unless the amount finally adjudicated or agreed as being payable in respect of the Claim exceeds $10,000. 16.9.2 The maximum amount which the Purchaser may recover from the Vendor in respect of a Claim relating to an item of Plant and Equipment is the Liquidation Value for that item of Plant and Equipment. 16.9.3 The Vendor is only liable to the Purchaser for amounts by which Claims adjudicated or agreed under clause 16.9.1 exceed $100,000 in aggregate. 16.9.4 Subject to clause 16.9.5, the maximum aggregate which the Purchaser may recover from the Vendor in respect of all Claims is 30% of the Purchase Price for the Business Assets. 16.9.5 The Purchaser may not, in respect of a Claim, recover from the Vendor any proceeds (including, but not limited to, damages and any amounts referable to the damage or destruction of the Excluded Assets) of the Vendor’s insurance claims in respect of the Excluded Assets.