Common use of Monetary Limitation Clause in Contracts

Monetary Limitation. Buyer shall have no claim under this Agreement against Seller or any other member of the BP Group for any Losses unless and until the aggregate of all such Losses incurred or sustained by the Buyer Indemnified Parties exceeds Two Million Five Hundred Thousand Dollars ($2,500,000) and then only for the excess over Two Million Five Hundred Thousand Dollars ($2,500,000) (the "Threshold"); provided that Losses amounting to less than Two Hundred Thousand Fifty Dollars ($250,000) in the aggregate arising out of the same occurrence or matter shall not be aggregated with other Losses for purposes of determining whether and when the Threshold has been reached. After the Threshold has been reached, Seller shall have no obligation to indemnify the Buyer Indemnified Parties under this Agreement with respect to such matters for any Losses amounting to less than Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate arising out of the same occurrence or matter. For purposes of this Section 15(j), Losses shall exclude Remediation Losses and Rights-of-Way Losses, which are addressed in Section 15(l) and 15(m), respectively, below.

Monetary Limitation. Except as otherwise provided in this Agreement, Buyer shall have no claim under this Agreement against Seller or any other member of the BP Group for any Losses unless and until the aggregate of all such Losses incurred or sustained by the Buyer Indemnified Parties (excluding any expenditures pursuant to Section 5.3(b)(i)(B)) exceeds Two Million Five Hundred Thousand Dollars five million dollars ($2,500,0005,000,000) and then only for the excess over Two Million Five Hundred Thousand Dollars five million dollars ($2,500,0005,000,000) (the "“Threshold"”); provided that Losses amounting to less than Two Hundred Thousand Fifty Dollars four hundred thousand dollars ($250,000400,000) in the aggregate arising out of the same occurrence or matter shall not be aggregated with other Losses for purposes of determining whether and when the Threshold has been reached. After the Threshold has been reached, Seller shall have no obligation to indemnify the Buyer Indemnified Parties under this Agreement with respect to such matters for any Losses amounting to less than Two Hundred Fifty Thousand Dollars four hundred thousand dollars ($250,000400,000) in the aggregate arising out of the same occurrence or matter. For purposes of this Section 15(j)8.11, Losses shall exclude Remediation Losses and Rights-of-Way Losses, which are addressed in Section 15(l) and 15(m), respectively, 8.13 below.

Monetary Limitation. Buyer shall have no claim under this Agreement against Seller or any other member of the BP Group for any Losses unless and until the aggregate of all such Losses incurred or sustained by the Buyer Indemnified Parties exceeds Two Four Million Five Hundred Thousand Dollars ($2,500,0004,000,000) and then only for the excess over Two Four Million Five Hundred Thousand Dollars ($2,500,0004,000,000) (the "Threshold"); provided that Losses amounting to less than Two Hundred Fifty Thousand Fifty Dollars ($250,000) in the aggregate arising out of the same occurrence or matter shall not be aggregated with other Losses for purposes of determining whether and when the Threshold has been reached. After the Threshold has been reached, Seller shall have no obligation to indemnify the Buyer Indemnified Parties under this Agreement with respect to such matters for any Losses amounting to less than Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate arising out of the same occurrence or matter. For purposes of this Section 15(j), Losses shall exclude Remediation Losses and Rights-of-Way Losses, which are addressed in Section Sections 15(l) and 15(m), respectively, below.

Monetary Limitation. Buyer shall have no claim under this Agreement against Seller or any other member of the BP Group for any Losses unless and until the aggregate of all such Losses incurred or sustained by the Buyer Indemnified Parties exceeds Two Five Million Five Hundred Thousand Dollars ($2,500,0005,000,000) and then only for the excess over Two Five Million Five Hundred Thousand Dollars ($2,500,0005,000,000) (the "Threshold"); provided that Losses amounting to less than Two Hundred Fifty Thousand Fifty Dollars ($250,000) in the aggregate arising out of the same occurrence or matter shall not be aggregated with other Losses for purposes of determining whether and when the Threshold has been reached. After the Threshold has been reached, Seller shall have no obligation to indemnify the Buyer Indemnified Parties under this Agreement with respect to such matters for any Losses amounting to less than Two Hundred Fifty Thousand Dollars ($250,000) in the aggregate arising out of the same occurrence or matter. For purposes of this Section 15(j), Losses shall exclude Remediation Losses and Rights-of-Way Losses, which are addressed in Section 15(l) and 15(m), respectively, below.