Common use of Maximum Contract Amount Clause in Contracts

Maximum Contract Amount. (1) Notwithstanding any other provision of the Agreement, the City’s maximum incentive payment obligation shall not exceed ($ ) (the “Maximum Contract Amount”). (2) The City’s payment obligation, whether direct or contingent, extends only to funds appropriated annually by the Denver City Council, paid into the Treasury of the City, and encumbered for purposes of the Agreement. The City does not by this Agreement irrevocably pledge present cash reserves for payment or performance in future fiscal years. The Agreement does not and is not intended to create a multiple fiscal year direct or indirect debt or financial obligation of the City.

Maximum Contract Amount. (1) Notwithstanding any other provision of the Agreement, the City’s maximum incentive payment obligation shall will not exceed ($ ) (the “Maximum Contract Amount”).SAMPLE (2) The City’s payment obligation, whether direct or contingent, extends only to funds Federal Funds received and budgeted for the Program, appropriated annually by the Denver City Council, paid into the Treasury of the City, and encumbered for purposes the purpose of the Agreement. The City does not by this the Agreement irrevocably pledge present cash reserves for payment or performance in future fiscal years. The Agreement does not and is not intended to create a multiple multiple-fiscal year direct or indirect debt or financial obligation of the City.