Material Damage Floor Sample Clauses
A Material Damage Floor clause sets a minimum threshold for physical damage that must be met before certain contractual remedies or insurance coverage are triggered. In practice, this means that minor or insignificant damages below the specified floor amount do not qualify for claims or remedial actions under the contract. For example, if the floor is set at $50,000, only losses exceeding this amount would be considered material and actionable. The core function of this clause is to prevent parties from making claims for trivial damages, thereby reducing administrative burdens and focusing attention on significant losses.
Material Damage Floor. Damage in excess of Twenty-Five Thousand and No/100ths Dollars ($25,000.00) suffered by Buyer as a result of any inaccuracy or breach of any representation or warranty or covenant (on a cumulative basis and not per occurrence) by Seller hereunder.