Duplicate Benefits Sample Clauses
The Duplicate Benefits clause prevents a party from receiving compensation or reimbursement more than once for the same loss or expense. In practice, this means that if a party has already been compensated for a particular damage or cost by one source, such as insurance or another contract, they cannot claim the same amount again under this agreement. This clause ensures fairness by avoiding overcompensation and helps to allocate risk appropriately between the parties.
Duplicate Benefits. Spirit and IAE agree that it is not the intention to provide duplicate benefits under the terms of this Agreement and the Existing Fleet GTA or under any other arrangement between IAE or IAE’s suppliers or Airbus and Spirit. In the event of any such duplication of benefits, Spirit may, at the relevant time in respect of the relevant circumstances receive any one such benefit (at Spirit’s discretion) to the exclusion of all other duplicate benefits.
Duplicate Benefits. Vuela and IAE agree that it is not the intention to provide duplicate benefits under the terms of this Agreement and the Support Contract or under any other arrangement between IAE or IAE’s suppliers or Airbus and Vuela. In the event of any such duplication of benefits, Vuela may, at the relevant time in respect of the relevant circumstances, opt to receive any one such benefit to the exclusion of all other duplicate benefits.
Duplicate Benefits. All payments, benefits and amounts provided under this Agreement shall be in addition to and not in substitution for any pension rights under any Company or Employer pension plan and any disability, workers’ compensation or other Company or Employer benefit plan distribution that the Executive is entitled to at his or her Effective Date of Termination. Notwithstanding the foregoing, this Agreement shall not create an inference that any duplicate payments shall be required. No payments made pursuant to this Agreement shall be considered compensation for purposes of any such benefit plan; provided that any amount paid pursuant to Section 3.4(c) shall not be subject to such limitation. Payment of the Executive’s accrued and unpaid Base Salary or vacation pay, if any, through the Executive’s Effective Date of Termination shall be deemed to not duplicate any benefit contemplated by this Agreement and shall not result in an offset pursuant to Section 3.3(f). Any acceleration of vesting, lapse of restrictions and/or payout occasioned by a Change in Control pursuant to the provisions of any long-term incentive plan and/or individual award agreement under such a long-term incentive plan shall be deemed to not duplicate any benefit contemplated by this Agreement and shall not result in an offset pursuant to Section 3.3(f).
Duplicate Benefits. All payments, benefits and amounts provided under this Agreement shall be in addition to and not in substitution for any disability, workers’ compensation or other Company benefit plan distribution that the Executive is entitled to at his Effective Date of Termination. Notwithstanding the foregoing, this Agreement shall not create an inference that any duplicate payments shall be required. No payments made pursuant to this Agreement shall be considered compensation for purposes of any such benefit plan. Payment of the Executive’s accrued and unpaid Base Salary and accrued vacation pay through the Executive’s Effective Date of Termination shall be deemed to not duplicate any benefit contemplated by this Agreement and shall not result in an offset pursuant to Section 3.2(e).
Duplicate Benefits. ▇▇▇▇▇▇ and P&W agree that it is not the intention to provide duplicate benefits under the terms of this Agreement or under any other arrangement between P&W or P&W’s suppliers or any applicable lessor and ▇▇▇▇▇▇. In the event of any such duplication of benefits, ▇▇▇▇▇▇ may, at the relevant time in respect of the relevant circumstances receive any one such benefit to the exclusion of all other duplicate benefits.
Duplicate Benefits. ▇▇▇▇▇▇ and IAE agree that it is not the intention to provide duplicate benefits under the terms of this Agreement or under any other arrangement between IAE or IAE’s suppliers or any applicable lessor and ▇▇▇▇▇▇. In the event of any such duplication of benefits, ▇▇▇▇▇▇ may, at the relevant time in respect of the relevant circumstances receive any one such benefit to the exclusion of all other duplicate benefits.