Maximum Total Amount Payable Clause Samples
The Maximum Total Amount Payable clause sets a cap on the total financial liability or payments that one party is obligated to make under a contract. In practice, this means that regardless of the number or value of claims, invoices, or damages that may arise, the responsible party will not be required to pay more than the specified maximum amount. For example, in a service agreement, this clause might limit the total fees payable to a contractor over the contract term. Its core function is to provide financial certainty and limit risk exposure for the paying party by ensuring that their total outlay cannot exceed a predetermined sum.
Maximum Total Amount Payable. The Maximum Total Amount Payable by the AGENCY to the CONSULTANT under this AGREEMENT shall not exceed the amount shown in the heading of this AGREEMENT. The Maximum Total Amount Payable is comprised of the Total Amount Authorized, and the MRF. The Maximum Total Amount Payable does not include payment for Extra Work as stipulated in Section XIII, “Extra Work.” No minimum amount payable is guaranteed under this AGREEMENT.
Maximum Total Amount Payable. The Maximum Total Amount Payable by the City to the Consultant shall not exceed the amount shown in the heading of this Agreement under “Original Agreement Amount”. The Maximum Total Amount may be adjusted by any mutually agreed change order – see Section 10 – “Changes in Work”.
Maximum Total Amount Payable. The maximum total amount payable, by the AGENCY to the CONSULTANT under this AGREEMENT, shall not exceed the amount shown in the heading of this AGREEMENT as maximum amount payable, which includes the Fixed Fee, unless a supplemental agreement has been negotiated and executed by the AGENCY prior to incurring any costs in excess of the maximum amount payable.
Maximum Total Amount Payable. The maximum total amount payable, by the City to the CONSULTANT under this agreement, shall not exceed the amount shown in the heading of this agreement, as adjusted by any mutually agreed Change Orders.