Common use of Monetary Limits Clause in Contracts

Monetary Limits. 1.1 The Seller is not liable in respect of a Warranty Claim unless the amount that would otherwise be recoverable from the Seller (but for this paragraph 1.1) in respect of that Warranty Claim exceeds US$ 100,000. 1.2 The Seller is not liable in respect of a Warranty Claim unless and until the amount that would otherwise be recoverable from the Seller (but for this paragraph 1.2) in respect of that Warranty Claim, when aggregated with any other amount or amounts recoverable in respect of other Warranty Claims (excluding any amounts in respect of a Warranty Claim for which the Seller has no liability because of paragraph 1.1), exceeds US$ 1,000,000, in which case the Purchaser shall be entitled to recover the entire amount and not merely the excess. 1.3 The Seller’s total Liability in respect of all Warranty Claims, other than Fundamental Warranty Claims and Tax Claims, is limited to 15% (fifteen percent) of the Purchase Price. 1.4 The maximum aggregate Liability of the Seller under this Agreement shall be an amount equal to the Purchase Price.