Guarantee Limits Sample Clauses
The Guarantee Limits clause defines the maximum financial responsibility or liability that a guarantor is obligated to cover under a contract. Typically, this clause specifies a fixed monetary cap or a formula for calculating the upper limit of the guarantee, ensuring that the guarantor is not exposed to unlimited risk. For example, it may state that the guarantor will only be liable up to a certain dollar amount or a percentage of the contract value. The core function of this clause is to provide certainty and manage risk for the guarantor by clearly outlining the extent of their financial commitment.
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Guarantee Limits. Guarantor’s obligations under Section 2(a) of this Guarantee in the aggregate shall be limited to the amounts shown below with respect to sums as payable by HEP to HELCO pursuant to the PPA as the result of events or circumstances during the period shown opposite such amounts: From the Agreement Date to the End of Term $ 3,000,000
Guarantee Limits. Guarantor's obligations under Section 2(a) ---------------- hereof in the aggregate shall be limited to the amounts shown below with respect to sums as payable by SELLER to HELCO pursuant to the Agreement as the result of events or circumstances during the period shown opposite such amounts: Period Amount* ------ ------ Until PUC Approval $ -0- From PUC Approval through Closing Date $ 100,000 From the Closing Date through the Phase 2 $ 500,000 In-Service Date From Phase 2 In-Service Date to end of Term $1,500,000 *Guarantor's obligations in any given period shall be reduced by any amounts paid by Guarantor with respect to such obligations in all preceding periods.