Common use of Threshold and Cap Clause in Contracts

Threshold and Cap. PROTEC and the PROTEC Members shall not have any liability or obligation to PAYM, ▇▇▇▇▇▇▇▇▇ or the PAYM Representatives under Section 8.02(b) unless and until the amount of Losses accrued thereunder is equal to or greater than $50,000 (the “Indemnity Threshold”), in which even PROTEC and the PROTEC Members shall only be required to pay or be liable for all such Losses above the Indemnity Threshold.