Common use of Quantity Limitations Clause in Contracts

Quantity Limitations. 1.1 The Seller shall not be liable for any Relevant Claim: (a) where the liability of the Seller for any particular claim (or the aggregate liability of the Seller for several related claims) whether relating to Pioneer Anaguid and/or Pioneer Tunisia is less than three hundred and fifty thousand US dollars (US$350,000) (such claims being “de minimis claims”) provided that once the threshold set forth in paragraph 1.1(b) of this Schedule 4 is exceeded the Seller shall not be liable for any Relevant Claim where the liability of the Seller for any particular claim (or the aggregate liability of the Seller for several related claims) is less than five hundred thousand US dollars (US$500,000) and each such claim which does not so exceed five hundred thousand US dollars (US$500,000) shall constitute a “de minimis claim” provided further that any claim which constitutes a de minimis claim shall not count or be taken into consideration when determining whether the threshold set forth in paragraph 1.1(b) of this Schedule 4 has been exceeded; and (b) where the aggregate liability of the Seller for all Relevant Claims that are not de minimis claims does not exceed a threshold amount equal to 2% of the Adjusted Bid Amount, provided that once the aggregate amount of all such claims (excluding all de minimis claims) exceeds such sum the Seller shall be liable for: (i) 50% of the threshold amount referred to in this paragraph 1.1(b) of Schedule 4 and the Seller shall pay such amount to the Buyer within twenty (20) Business Days of being notified by the Buyer that the threshold amount referred to in this paragraph 1.1(b) has been exceeded and receipt by the Seller from the Buyer of reasonable documentation evidencing that the threshold has been exceeded; and (ii) subject to the other limitations set forth in this Agreement, any excess liability over and above the threshold amount referred to in this paragraph 1.1(b) of Schedule 4. 1.2 The aggregate liability of the Seller in respect of: (a) all Relevant Claims in respect of paragraphs 1 and 2.1, and, subject to paragraph 1.2(b) below, paragraph 9(c) and 10(a), 10(b), 10(c) and 10(d) of Part I of Schedule 3 shall not in any event exceed, in the aggregate, an amount equal to the Adjusted Bid Amount; (b) all Relevant Claims in respect of the Warranties in paragraphs 9(c), 10(a), 10(b), 10(c) and 10(d) of Part I of Schedule 3 shall not in any event exceed, in the aggregate, an amount equal to the value allocated to the particular Interest (as set forth in Schedule 18) affected by such breaches of Warranty; (c) except as provided in paragraph 1.2(a) of this Schedule 4, all Relevant Claims shall not in any event exceed, in the aggregate, an amount equal to fifty percent (50%) of the Adjusted Bid Amount; and (d) all Relevant Claims referred to in (a), (b) and (c) of this paragraph 1.2 shall not in any event exceed, in the aggregate, an amount equal to the Adjusted Bid Amount.