Maximum Allowable Cost Sample Clauses

The Maximum Allowable Cost clause sets a ceiling on the amount that can be charged or reimbursed for a specific product or service, typically within contracts involving pharmaceuticals, construction, or procurement. In practice, this clause limits payments to a predetermined maximum, regardless of the actual cost incurred, and may reference published price lists or negotiated rates. Its core function is to control expenses and prevent excessive charges, thereby protecting the paying party from unexpected or inflated costs.
Maximum Allowable Cost. (MAC) shall mean the lowest reimbursement rate established by the Department for the Covered Product.
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Maximum Allowable Cost. The Contractor shall establish, subject to approval by the Department, and maintain a generic drug Maximum Allowable Cost (MAC) program in order to promote generic utilization and cost containment. The Contractor shall update MAC and other pricing benchmarks on a schedule at least as consistent as is required by CMS for Medicare Part D plans found at 42 CFR 423.505(b)(21) or state law.
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Maximum Allowable Cost or MAC means the unit price established by the PBM Vendor for a drug with more than two sources included on the MAC drug list applicable to Client, which list may be amended from time to time by the PBM Vendor in maintaining its generic pricing program.
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Maximum Allowable Cost. The Maximum Allowable Cost (MAC List) means the list established by HNI only for those prescription medications that will be reimbursed through the PBM at a generic level. The MAC List includes, adjacent to each prescription medication listed, the corresponding Maximum Allowable Cost per unit that will be used in calculating reimbursement by HNI. This MAC List is subject to periodic review and modification by HNI. HNI shall provide advance notice of any change made to any item contained within the MAC List. 3. The following Sections of the Agreement are hereby deleted in their entirety and replaced with the following Sections:
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Maximum Allowable Cost. The CONSULTANT shall not exceed the “Cost Per Parcel” Rate established for this Work Assignment identified below. Estimated Cost Total number of per Cost Function Parcels Parcel Maximum Project Costs = ______________________ [Use for Labor Hour/Unit Cost Projects]
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Maximum Allowable Cost. Contract Maximums: City of Diamondhead, Mississippi By: ▇▇▇▇▇▇▇▇▇ Firm, Inc.
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Related to Maximum Allowable Cost

  • Allowable Costs A. Allowable Costs are restricted to costs that are authorized under Texas Uniform Grant Management Standards (TxGMS) and applicable state and federal rules and laws. This Grant Agreement is subject to all applicable requirements of TxGMS, including the criteria for Allowable Costs. Additional federal requirements apply if this Grant Agreement is funded, in whole or in part, with federal funds. B. System Agency will reimburse Grantee for actual, allowable, and allocable costs incurred by Grantee in performing the Project, provided the costs are sufficiently documented. Grantee must have incurred a cost prior to claiming reimbursement and within the applicable term to be eligible for reimbursement under this Grant Agreement. At its sole discretion, the System Agency will determine whether costs submitted by Grantee are allowable and eligible for reimbursement. The System Agency may take repayment (recoup) from remaining funds available under this Grant Agreement in amounts necessary to fulfill Grantee’s repayment obligations. Grantee and all payments received by Grantee under this Grant Agreement are subject to applicable cost principles, audit requirements, and administrative requirements including applicable provisions under 2 CFR 200, 48 CFR Part 31, and TxGMS. C. OMB Circulars will be applied with the modifications prescribed by TxGMS with effect given to whichever provision imposes the more stringent requirement in the event of a conflict.

  • Intent to Limit Charges to Maximum Lawful Rate In no event shall the interest rate or rates payable under this Agreement, plus any other amounts paid in connection herewith, exceed the highest rate permissible under any law that a court of competent jurisdiction shall, in a final determination, deem applicable. Borrower and the Lender Group, in executing and delivering this Agreement, intend legally to agree upon the rate or rates of interest and manner of payment stated within it; provided, however, that, anything contained herein to the contrary notwithstanding, if said rate or rates of interest or manner of payment exceeds the maximum allowable under applicable law, then, ipso facto, as of the date of this Agreement, Borrower is and shall be liable only for the payment of such maximum as allowed by law, and payment received from Borrower in excess of such legal maximum, whenever received, shall be applied to reduce the principal balance of the Obligations to the extent of such excess.

  • Unallowable Costs Costs that are unallowable under other sections of these principles shall not be allowable under this section solely on the basis that they constitute personnel compensation.

  • Maximum or Minimum Interest Rate If specified on the face hereof, this Note may have either or both of a Maximum Interest Rate or a Minimum Interest Rate. If a Maximum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever exceed such Maximum Interest Rate and in the event that the interest rate on any Interest Reset Date would exceed such Maximum Interest Rate (as if no Maximum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Maximum Interest Rate. If a Minimum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever be less than such Minimum Interest Rate and in the event that the interest rate on any Interest Reset Date would be less than such Minimum Interest Rate (as if no Minimum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Minimum Interest Rate. Notwithstanding anything to the contrary contained herein, the interest rate on a Floating Rate Note shall not exceed the maximum interest rate permitted by applicable law.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.