Financial Limits Clause Samples
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Financial Limits. Subject to Clause 34.1 (Unlimited Liability), the Supplier’s total aggregate liability: in respect of all: Service Credits; and Compensation for Critical Service Level Failure; incurred in any rolling period of 12 Months shall be subject in aggregate to the Service Credit Cap; in respect of all other Losses incurred by the Customer under or in connection with this Call Off Contract as a result of Defaults by the Supplier shall in no event exceed: in relation to any Defaults occurring from the Call Off Commencement Date to the end of the first Call Off Contract Year, the higher of [one million pounds (£1,000,000)] and a sum equal to [one hundred and fifty per cent (150%)] of the Estimated Year 1 Call Off Contract Charges; in relation to any Defaults occurring in each subsequent Call Off Contract Year that commences during the remainder of the Call Off Contract Period, the higher of [one million pounds (£1,000,000)] in each such Call Off Contract Year and a sum equal to [one hundred and fifty percent (150%)] of the Call Off Contract Charges payable to the Supplier under this Call Off Contract in the previous Call Off Contract Year; and in relation to any Defaults occurring in each Call Off Contract Year that commences after the end of the Call Off Contract Period, the higher of [one million pounds (£1,000,000)] in each such Call Off Contract Year and a sum equal to [one hundred and fifty percent (150%)] of the Call Off Contract Charges payable to the Supplier under this Call Off Contract in the last Call Off Contract Year commencing during the Call Off Contract Period. Subject to Clauses 34.1 (Unlimited Liability) and 34.2 (Financial Limits) and without prejudice to its obligation to pay the undisputed Call Off Contract Charges as and when they fall due for payment, the Customer's total aggregate liability in respect of all Losses as a result of Customer Causes shall be limited to: in relation to any Customer Causes occurring from the Call Off Commencement Date to the end of the first Call Off Contract Year, a sum equal to the Estimated Year 1 Call Off Contract Charges; in relation to any Customer Causes occurring in each subsequent Call Off Contract Year that commences during the remainder of the Call Off Contract Period, a sum equal to the Call Off Contract Charges payable to the Supplier under this Call Off Contract in the previous Call Off Contract Year; and in relation to any Customer Causes occurring in each Call Off Contract Year that commences after ...
Financial Limits.
(a) Subject to Sections 8.2.2(b) and 8.2.2(c), in respect of each Project, the relevant Seller shall have no liability to the Buyer under this Agreement in respect of any Claim or series of related Claims arising from the same or substantially similar facts or circumstances concerning such Project, unless the amount of that Claim (together with the aggregate amount of any other Claims) shall exceed a total sum of RMB150,000 (“Minimum Sum”), and in that event, the relevant Seller shall be liable for the entire amount of the Indemnifiable Losses under such Claim(s) and not only for such amount in excess of the Minimum Sum. The limitation on each Seller’s indemnification obligations under this Section 8.2.2(a) shall not apply in the case of fraud or gross negligence.
(b) Subject to Section 8.2.2(c), in respect of each Project, the relevant Seller shall have no liability to the Buyer under this Agreement unless and until the aggregate amount of the Indemnifiable Losses suffered or incurred by the Buyer (without taking into account any Claims excluded pursuant to Section 8.2.2(a)) concerning such Project exceeds RMB1,500,000, in which case the relevant Seller shall be liable to the Buyer for any and all Claims other than those excluded pursuant to Section 8.2.2(a), provided that the limitation on each Seller’s indemnification obligations under this Section 8.2.2(b) shall not apply in the case of fraud or gross negligence.
(c) In respect of each Project, the maximum aggregate liability of a relevant Seller to the Buyer for all Claims (other than Claims for breach of Fundamental Warranties) concerning such Project under this Agreement shall not exceed 30% of its relevant Liability Cap Reference Amount. The maximum aggregate liability of a Seller to the Buyer for all Claims for breach of Fundamental Warranties concerning a Relevant Project owned by such Seller under this Agreement in total shall not exceed 100% of its relevant Liability Cap Reference Amount. The maximum aggregate liability of a Seller to the Buyer for all Claims concerning a Relevant Project owned by such Seller under this Agreement in total shall not exceed 100% of its relevant Liability Cap Reference Amount.
Financial Limits. Subject to Clause 14.1, the Contractor's total aggregate liability:
14.2.1. in respect of all claims, losses or damages, whether arising from tort (including negligence), breach of contract or otherwise under or in connection with this Agreement in each Contract Year shall in no event exceed 150% (one hundred and fifty percent) of the aggregate annual Charges paid, due or under this Agreement.
Financial Limits. The Chief Finance Officer will arrange for the budget for members allowances to be monitored to ensure that budgetary issues are reported to Members.
(a) Increases in Allowances Basic Allowances as quoted will be updated for 2017/18 by any 2017/18 increases as agreed under the annual Local Government Pay Settlement of the Joint Negotiating Committee for Chief Officers of Local Authorities or its replacement under the local pay agreement. The amounts so calculated are to be rounded up to be divisible for payment purposes. The amended basic allowance will be found on the Internet once any annual % uplifts have been agreed. The Travelling and Subsistence allowances will be increased in line with the increase in officer rates.
Financial Limits. 2.1. Each Seller shall not be liable in respect of any Fundamental Warranty Claim, any Business Warranty Claim or any Tax Claim unless the liability in respect of that Claim would exceed $[***]. For the purposes of this paragraph, Fundamental Warranty Claims, Business Warranty Claims or Tax Claims arising from the same events or causes shall be regarded as a single Fundamental Warranty Claim, Business Warranty Claim or Tax Claim.
2.2. Each Seller shall not be liable in respect of any Fundamental Warranty Claim, Business Warranty Claim or Tax Warranty Claim unless the aggregate liability in respect of all such Claims (excluding Claims for which the Sellers have no liability by reason of paragraph 2.1) would exceed $[***], in which circumstances the relevant Seller in respect of a Fundamental Warranty Claim or the Sellers in respect of a Business Warranty Claim or a Tax Warranty Claim shall be liable for the entire amount and not just the excess over $[***]. The Sellers shall not be liable in respect of any Claims under the Tax Covenant (other than in respect of Payroll Tax) unless the aggregate liability in respect of all Claims under the Tax Covenant exceeds $[***], in which circumstances the Sellers shall be liable for the excess.
2.3. Subject to paragraph 2.6, the aggregate liability of the Sellers for:
(a) all Business Warranty Claims and all Tax Warranty Claims shall not exceed the total aggregate value of the Indemnity Shares (as determined in accordance with clause 8.4); and
(b) all Claims under the Tax Covenant shall not exceed the total aggregate value of the Indemnity Shares (as determined in accordance with clause 8.4) plus any future Milestone Amount that would otherwise be recognised and any issued but unredeemed Loan Notes, in each case, to the extent not otherwise withheld against another Agreed Claim.
2.4. The liability of each Seller for a Fundamental Warranty Claim in respect of that Seller (together with all other Claims), and including any liability for costs and interest, shall not exceed the sum of: (i) the aggregate value of the Indemnity Shares issued to such Seller (as determined in accordance with clause 8.4); (ii) such Seller’s Pro Rata Proportion of the Cash Consideration (as set out in the column (C) of Schedule 1); (iii) the amount of any cash previously received by the relevant Seller upon the redemption of any Loan Notes; and (iv) any future Milestone Amount that would otherwise be recognised in respect of such Seller or any ...
Financial Limits. C14 Where there is only one UK location being considered for a project the financial limits are governed by EU State Aid rules. Where a potential investor is considering two or more locations in the UK the Concordat requires that the administrations involved will agree the appropriate level of financial support, subject always to compliance with State Aid rules. C15 Financial assistance to industry is an area which is subject to EU State Aid rules. In particular, the EU has certain powers under Articles 107and 108 of the Treaty on the Functioning of the European Union. As regards relations with the European Union, Ministers and officials of the devolved administrations will be fully involved in discussions within the UK Government about the formulation of the UK’s policy position on all issues which touch on financial assistance to industry. This will require mutual respect for the confidentiality of those discussions and adherence to the resultant UK line. All parties to the Concordat are covered and will abide by EU rules on state aid. C16 The UK Government commits itself to adequate consultation to a reasonable timescale with the devolved administrations on its dealings with the European Commission (and other European Union institutions as appropriate) on State Aids policy. By the same token, the devolved administrations undertake to maintain adequate consultation to a reasonable timescale with the UK Government on any measure which may require notification, and to respond within a reasonable timescale to enquiries received from the UK Government on actual or potential State aid measures or on consultation about new policy developments. C17 The designation of assisted areas, including related domestic legislation, is a reserved function and will remain the responsibility of the UK Government. There will, however, be adequate consultation to a reasonable timescale by the UK Government with the devolved administrations on the methodology and detail of any proposed revisions to the assisted areas map prior to putting proposals to the European Commission.
Financial Limits. (a) The Sellers shall have no obligation to indemnify the Buyer in respect of the indemnity contained in Clause 9.1(a) (but excluding any claim for any breach of the Fundamental Warranties which shall not be subject to any limitation under this Clause 9.3(a)) unless and until the Losses in connection with any single occurrence (or series of connected occurrences) giving rise to indemnification obligations under 9.1(a) exceed €500,000, and its Losses, in the aggregate, exceed €1,500,000 in which case the Sellers shall be liable for the whole amount and not just the excess over €1,500,000.
(b) The aggregate amount of Losses for which payment is made by the Sellers in respect of the indemnities contained in Clause 9.1(a) (but excluding any claim for any breach of the Fundamental Warranties which shall not be limited other than as set out in Clause 9.3(d)), Clause 9.2(b) and the covenants under the Tax Deed (excluding the covenant at clause 2.1(d) of the Tax Deed which shall not be limited in amount) shall not exceed €100,000,000.
(c) Where a claim relating to a breach of the Tax Warranties and/or to the covenants under the Tax Deed (excluding the covenant at clause 2.1(d) of the Tax Deed which shall not be limited in amount) is made on or after the second anniversary of the Closing Date but within the period permitted by Clause 9.4(b), the limitation in Clause 9.3(b) (exclusive of any claims notified but not then determined) shall be reduced to the lesser of (i) the outstanding maximum liability under Clause 9.3(b) and (ii) €50,000,000.
(d) The aggregate amount of Losses for which payment is made by the Sellers in respect of a breach of the Fundamental Warranties shall not exceed the Purchase Price as finally determined.
(e) There shall be no financial limitation in respect of the indemnity contained in Clause 9.1(b), Clause 9.2(a), or paragraph 6.1 of Schedule 3, or the covenant contained in clause 2.1(d) of the Tax Deed.
Financial Limits. Subject to clause 6.1.1, the liability of either party for Defaults shall be limited as stated below:
(a) the liability of either party under the Contract for any one Default resulting in direct loss of or damage to tangible property of the other party or any series of connected Defaults resulting in or contributing to the loss of or damage to the tangible property of the other party shall not exceed the sum of £5,000,000 (five million pounds);
(b) the aggregate liability of either party under the Contract for all Defaults, other than those governed by paragraph (a) above, shall not exceed the Contract Price.
Financial Limits. The maximum the Underwriter will pay for any claim under the various Sections of the Policy is:
Section 3.1 Cover during the Construction Period Housing Unit or £100,000 whichever is the lesser.
Financial Limits. Subject to clause 53.1, the Contractor's total aggregate liability: