Maximum Cash Out Clause Samples
The Maximum Cash Out clause sets a limit on the total amount of cash that can be withdrawn or paid out under a contract or agreement. Typically, this clause specifies a monetary cap, ensuring that disbursements do not exceed a predetermined threshold, regardless of other circumstances or entitlements. By establishing this upper limit, the clause helps manage financial risk and provides certainty to both parties about the maximum potential cash exposure.
Maximum Cash Out. If the Mortgage Loan was made to a Mortgagor who owned the Mortgaged Property prior to the origination of such Mortgage Loan and the proceeds of which were used in whole or part to satisfy an existing mortgage, the proceeds of the Mortgage Loan did not exceed the amount of the existing mortgage by more than $150,000.
Maximum Cash Out. By December 1 of each year, an employee may annually make an irrevocable advance election to cash out a maximum of forty (40) hours of administrative leave that will be accrued in the next calendar year. The election shall be made on the form provided by the City for this purpose. The hours selected for cash-out will be paid in the first non-payroll week of January of the following year.
Maximum Cash Out. Upon written request, employees in the Police Officers' Association shall be paid for up to 40 hours, per fiscal year, of recorded compensatory time. Payment will be at the earliest payroll period. The City, at its option, may reimburse an employee in the Police Officers' Association up to 40 accrued hours of compensatory time at the end of any fiscal year. Any additional employee requests are subject to the approval of the department head or designated representative.