Maximum Amount Limitation Clause Samples
The Maximum Amount Limitation clause sets a cap on the total financial liability or obligation that one party may incur under a contract. In practice, this means that regardless of the number or nature of claims made, the responsible party will not be required to pay more than the specified maximum amount, such as a fixed dollar value or a percentage of contract value. This clause is essential for managing risk, as it provides certainty and predictability regarding potential financial exposure for both parties.
Maximum Amount Limitation. Anything in the MLA, this First Supplement, or the other Loan Documents to the contrary notwithstanding, Borrower shall not be required to pay unearned interest on the Construction Note or any of the Loan Obligations, or ever be required to pay interest on the Construction Note or any of the Loan Obligations at a rate in excess of the Maximum Rate, if any. If the effective rate of interest which would otherwise be payable under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents would exceed the Maximum Rate, if any, then the rate of interest which would otherwise be contracted for, charged, or received under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents shall be reduced to the Maximum Rate, if any. If any unearned interest or discount or property that is deemed to constitute interest (including, without limitation, to the extent that any of the fees payable by Borrower for the Loan Obligations to the Lender under the MLA, this First Supplement, the Construction Note, or any of the other Loan Documents are deemed to constitute interest) is contracted for, charged, or received in excess of the Maximum Rate, if any, then such interest in excess of the Maximum Rate shall be deemed a mistake and canceled, shall not be collected or collectible, and if paid nonetheless, shall, at the option of the holder of the Construction Note, be either refunded to the Borrower, or credited on the principal of the Construction Note. It is further agreed that, without limitation of the foregoing and to the extent permitted by applicable law, all calculations of the rate of interest or discount contracted for, charged or received by the Lender under the Construction Note, or under any of the Loan Documents, that are made for the purpose of determining whether such rate exceeds the Maximum Rate applicable to the Lender, if any, shall be made, to the extent permitted by applicable laws (now or hereafter enacted), by amortizing, prorating and spreading during the period of the full terms of the Advances evidenced by the Construction Note, and any renewals thereof all interest at any time contracted for, charged or received by Lender in connection therewith. This section shall control every other provision of all agreements among the parties to the MLA pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in ...
Maximum Amount Limitation. The Borrower hereby agrees to pay an effective rate of interest that is the sum of the interest rate provided for herein and in the Note, together with any additional rate of interest resulting from any other charges of interest or in the nature of interest paid or to be paid in connection with the Loan, including, without limitation, any late charges, and any fees or charges to be paid by the Borrower pursuant to the provisions of each of the Loan Documents. Lender and the Borrower agree that none of the terms and provisions contained herein shall be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate in excess of the Maximum Rate. In such event, if Lender shall collect monies which are deemed to constitute interest which would otherwise increase the effective rate under any of the Loan Documents to a rate in excess of the Maximum Rate, all such sums deemed to constitute interest in excess of the Maximum Rate shall, at the option of Lender, to the extent permitted by applicable laws, be credited to the payment of other amounts payable by the Borrower hereunder by amortizing, prorating and spreading over the period of the Loan. This section shall control every other provision of all agreements among the parties to this Agreement pertaining to the transactions contemplated by or contained in the Loan Documents, and the terms of this section shall be deemed to be incorporated in every Loan Document and communication related thereto.
Maximum Amount Limitation. The total aggregate liability of an Indemnifying Party under this Article 8 for Claims shall not exceed an amount equal to the Market Value (as defined below) of 17,000,000 shares of EAG's Common Stock, $.001 par value per share ("EAG Common Stock"), calculated as of the date of final determination of the Claim(s) ("Determination Date"). The "Market Value" with respect to EAG's Common Stock shall mean the quotient of (i) the sum of the average of the final bid and final asked prices of EAG Common Stock for the previous ten trading days, divided by (ii) ten. Notwithstanding any other provision herein set forth, (y) Tenfore Europe shall have the right to transfer to EAG in full and final satisfaction of any Claim(s) all of the EAG Shares or such number of EAG Shares as upon a deemed conversion thereof calculated as of the Determination Date of the Claim(s) will have a Market Value equal to the value of such Claim(s), and (z) EAG shall have the right to transfer to Tenfore Europe in full and final satisfaction of any Claim(s) such number of shares of EAG's Common Stock as will have a Market Value calculated as of the Determination Date of the Claims(s) equal to the value of such Claim(s).