Ceiling Amount Clause Samples
The Ceiling Amount clause sets a maximum financial limit on the total payments or liabilities that one party may be required to make under a contract. In practice, this means that regardless of the number or value of claims, invoices, or damages that arise, the responsible party will not be obligated to pay more than the specified ceiling amount. This clause is commonly used in service agreements, construction contracts, or indemnity provisions to cap potential exposure. Its core function is to provide certainty and manage risk by preventing unlimited financial liability for the obligated party.
Ceiling Amount. CONTRACTOR shall not be obligated to pay the Subcontractor any amount in excess of the ceiling amount set forth in the Order, and the Subcontractor shall not be obligated to continue performance if to do so would exceed the ceiling amount set forth in the Order, unless and until the Subcontract Administrator shall have notified the Subcontractor in writing that the ceiling amount has been increased and shall have specified in the notice a revised ceiling that shall constitute the ceiling amount for performance under the Order(s). When and to the extent that the ceiling amount set forth in this article has been increased, any hours expended by the Subcontractor in excess of the ceiling amount before the increase shall be allowable to the same extent as if the hours expended had been incurred after the increase in the ceiling amount.
Ceiling Amount. The aggregate liability for indemnification under Section 14.1 of the Shareholders shall in no event exceed the Purchase Price (the "Indemnification Ceiling").
Ceiling Amount. In no event shall the aggregate liability of Seller and Nexans (taken as a whole) under Section 10.02(a) exceed twenty percent (20%) of the Purchase Price, provided that such aggregate liability (taken as a whole) under Section 10.02(a) shall not exceed the Purchase Price with respect to any Losses arising from a breach by Seller of its representation set forth in Section 3.07(b) hereof.
Ceiling Amount. An estimate of the cost of the Services is set forth in Appendix C (Remuneration) and Appendix D ([Reimbursable expenses]).