Threshold Amount; Limitations Sample Clauses
The "Threshold Amount; Limitations" clause sets minimum financial thresholds and caps on liability or claims under an agreement. Typically, it specifies that a party is only responsible for losses or damages exceeding a certain monetary amount (the threshold), and may also establish a maximum limit on the total liability that can be claimed. For example, a contract might state that claims are only valid if they exceed $10,000, and total liability cannot surpass $100,000. This clause helps manage risk by preventing minor claims and ensuring that exposure to liability is predictable and limited for the parties involved.
Threshold Amount; Limitations. No claim may be made by any Indemnified Party for indemnification pursuant to Section 6.2(a) or Section 6.3(a)(i) herein unless and until the aggregate amount of Losses for which the Indemnified Party seeks to be indemnified exceeds *** , in which case the Indemnifying Party shall be liable for the full amount of the aggregate Losses. Further, an Indemnified Party shall not be entitled to receive indemnification more than once with respect to the same Loss even if the state of facts giving rise to such Loss constitutes a breach of more than one representation, warrant, covenant or agreement.
Threshold Amount; Limitations. No claim may be made by any Indemnified Party for indemnification pursuant to Section 6.2(a)(i), Section 6.3.1(a)(i), Section 6.3.2(a)(i), Section 6.3.3(a)(i), or Section 6.3.4(a)(i) herein unless and until the aggregate amount of Losses for which the Indemnified Party seeks to be indemnified exceeds ten thousand dollars ($10,000.00), and then, only to the extent of such excess.
Threshold Amount; Limitations. Neither party which is an Indemnifying Party hereunder shall be required to indemnify, defend or hold harmless the other party which is an Indemnified Party from and against any Losses under Section 14.1 with respect to any breach of any representation, warranty, covenant or agreement hereunder unless and until the amount of such Losses exceeds $100,000 in the aggregate (the "THRESHOLD AMOUNT") and shall only be obligated to indemnify the Indemnified Party with respect to amounts in excess of the Threshold Amount up to a maximum aggregate indemnity limit of $23.8 million. The Indemnifying Party shall pay the Indemnified Party up to $5,000,000 at the Closing Date and that shall increase (a) to $7,500,000 on Marc▇ ▇▇, ▇▇▇▇, (▇) ▇▇ $10,000,000 on March 31, 2002, (c) to $13,000,000 on Marc▇ ▇▇, ▇▇▇▇, (▇) ▇▇ $16,750,000 on March 31, 2004, and (e) to $18,800,000 on March 31, 2005 and any additional amounts equal to the Supplemental Payments made to the Seller by the Buyer up to each of those dates. Amounts due to the Indemnified Party shall be paid up to the maximum aggregate indemnity limit in accordance with the schedule above and without regard to the date such claim for indemnification is made. In determining whether and to what extent the Threshold Amount has been exceeded, only individual Losses, or related series of Losses, of $10,000 or greater in magnitude shall be counted.