Calculation, Pyramiding Clause Samples

The "Calculation, Pyramiding" clause defines how multiple penalties, damages, or remedies are calculated when more than one may apply to the same event or breach. Typically, this clause clarifies that penalties or remedies should not be "pyramided"—that is, stacked or multiplied—so that a party does not recover more than once for the same loss or violation. For example, if a contract breach triggers both a liquidated damages provision and a penalty, this clause may specify that only the greater of the two applies, not both. Its core function is to prevent double recovery and ensure fairness by avoiding excessive or overlapping financial consequences for a single incident.
Calculation, Pyramiding. For purposes of calculating overtime pay and compensatory time only, time worked shall be rounded to the nearest one-tenth (1/10) of an hour. There shall be no pyramiding of overtime pay or compensatory time.
View SourceView Similar (10)

Related to Calculation, Pyramiding

  • Calculation of Charges Contractor shall provide an invoice to the City on a monthly basis for goods delivered and/or Services completed in the immediate preceding month, unless a different schedule is set out in Appendix B, “Calculation of Charges.” Compensation shall be made for goods and/or Services identified in the invoice that the City, in his or her sole discretion, concludes has been satisfactorily performed. In no event shall the amount of this Agreement exceed [insert whole dollar amount in numbers and words -- no pennies and no “.00”]. The breakdown of charges associated with this Agreement appears in Appendix B, “Calculation of Charges.” A portion of payment may be withheld until conclusion of the Agreement if agreed to by both Parties as retainage, described in Appendix B. In no event shall City be liable for interest or late charges for any late payments. City will not honor minimum service order charges for any services covered by this Agreement.