E ntire M onetary O bligation Clause Samples
The "Entire Monetary Obligation" clause defines the full financial responsibility that one party owes to another under the terms of an agreement. This clause typically clarifies that all amounts due, including principal, interest, fees, and any other related charges, are encompassed within the party's obligation. For example, it may specify that late fees or additional costs incurred due to non-payment are also included in the total sum owed. Its core function is to ensure there is no ambiguity about the scope of the monetary commitment, thereby preventing disputes over what constitutes the full amount payable under the contract.
E ntire M onetary O bligation. In no event, and notwithstanding anything else in this Agreement (except with respect to any obligations they may be required to incur with respect to implementation of the structural changes described in Section IV below), shall the Defendant or its insurers be required to pay any amounts other than (i) the Settlement Amount and (ii) the costs of the Independent Fiduciary up to Twenty-Five Thousand Dollars ($25,000). It is understood and agreed that the Defendant’s and its insurers’ monetary obligations under this Settlement Agreement will be fully discharged by paying the amount specified in Sections 2.9(a) and 3.1(a) above, and that the Defendant and its insurers shall have no other monetary obligations, or obligations to make any other payments under this Agreement or otherwise.