Payment After Limit Sample Clauses

The 'Payment After Limit' clause defines the obligations of parties regarding payments that arise after a specified monetary limit has been reached under a contract. Typically, this clause outlines whether a party must continue to make payments for claims, damages, or services once the agreed-upon cap or limit has been exhausted. For example, in an insurance or indemnity context, it may clarify if the insurer or indemnifying party remains responsible for costs beyond the policy or contract limit. The core function of this clause is to allocate financial risk and provide certainty about each party's liability once contractual limits are met.