Normal Limitation Sample Clauses
A Normal Limitation clause sets standard boundaries on the extent of liability or obligations that a party assumes under a contract. Typically, this clause specifies maximum amounts for damages, restricts the types of losses recoverable, or excludes certain indirect or consequential damages. For example, it may cap a party’s liability to the value of the contract or exclude liability for lost profits. The core function of this clause is to allocate risk fairly and predictably between parties, preventing disproportionate or unexpected financial exposure.
Normal Limitation. Except as provided in Section 5.02, the maximum amount of Deferred Compensation for any Participant for any taxable year, shall not exceed the lesser of the Dollar Limitation or the Percentage Limitation.
Normal Limitation. The maximum amount of Deferred Compensation for any Participant for any taxable year (other than amounts referred to in Sections 6.09, 6.10, and 6.11).
Normal Limitation. Except as provided in Sections 3.05 and 3.06, a Participant's maximum Deferral Contributions (excluding Rollover Contributions and Transfers) under this Plan for a Taxable Year may not exceed the lesser of:
Normal Limitation. The maximum amount deferred shall not exceed the lesser of the Applicable Dollar Amount (as described in Section 2.18(c) below) or 100% of the Participant’s Includible Compensation, as adjusted by Section 2.18(d) below. Notwithstanding the preceding provisions of this paragraph, for calendar years prior to 2002, the maximum amount deferred shall not exceed such limit or limits in effect for the applicable year pursuant to Code Section 457.