Maximum Entitlements Sample Clauses
The Maximum Entitlements clause sets a cap on the total benefits, payments, or rights that a party can receive under a contract. In practice, this clause might limit the amount of compensation, damages, or other entitlements available, regardless of the circumstances or number of claims made. By establishing a clear upper limit, the clause provides certainty for both parties and helps manage financial risk, preventing excessive or unforeseen liabilities.
POPULAR SAMPLE Copied 1 times
Maximum Entitlements. Notice or pay in lieu of notice shall be given to employees with one
(1) year or more service who are terminated because of changes in administrative procedures, automation, consolidation or suspension of business. The amount of notice or pay in lieu of notice shall be one (1) week at the employee's current regular salary for each year of service to a maximum of eight (8) weeks.
Maximum Entitlements. 7.4.1 Where in any Financial Year there is Adjusted Global Net Income but there is either a US Net Loss or a Non-US Net Loss, the Partnership shall, subject to Clause 9, only distribute the Sempra Maximum Entitlement to SG (in the case of a Non-US Net Loss) or the Sempra Maximum Entitlement to SETI (in the case of a US Net Loss), and shall, subject to Clause 9, only distribute the RBS Maximum Entitlement to RBS.
7.4.2 Where in any Financial Year there is Adjusted Global Net Income but there is either a US Net Loss or a Non-US Net Loss, then an amount equal to the product of the Sempra Allocation Percentage and the US Net Loss or the Non-US Net Loss (as appropriate) shall be deducted from the SG Adjusted Contribution Amount (in the case of a US Net Loss) or from the SETI Adjusted Contribution Amount (in the case of a Non-US Net Loss).
7.4.3 Where in any Financial Year there is Adjusted Global Net Income but there is either a US Net Loss or a Non-US Net Loss, then an amount equal to the product of the Sempra Allocation Percentage and the US Net Loss or the Non-US Net Loss (as appropriate) shall be added to the SG Adjusted Contribution Amount (in the case of a Non-US Net Loss) or to the SETI Adjusted Contribution Amount (in the case of a US Net Loss).
Maximum Entitlements. A principal terminating employment after having completed no less than
Maximum Entitlements. The Parties shall agree the specifications of the Maximum Transfer Limits for the Interconnector. These specifications shall be based on the line and terminal equipment capacities of the Interconnector, the capacity of the parts of the transmission systems of both Transmission Companies which service the Interconnector. If one of the Parties wishes the Maximum Transfer Limit to be increased the Transmission Company shall submit an application to the ▇▇▇▇ ▇▇ under the ▇▇▇▇ ABOM to increase the limit. The Transmission Companies and the ▇▇▇▇ ▇▇ shall acknowledge that if the scheduled transactions exceed the Maximum Transfer Limit: this may cause damage to the Interconnector and its terminal equipment; and this may adversely affect the Transmission Companies to supply services to each other and any other users of the Interconnector. The Transmission Companies shall notify each other if one Party has reason to believe the other has exceeded the Maximum Transfer Limit or if there is a material risk they may do so to ensure necessary steps are taken to ensure the Maximum Transfer Limit is not exceeded in the future. If any Party exceeds the Maximum Transfer Limit on more than one occasion the ▇▇▇▇ ▇▇ shall consider it reasonably required for the protection of both Parties systems and/or the security of supply of the interconnected ▇▇▇▇ system, to require the exceeding Party to install equipment to ensure that the Party does not exceed the Maximum Transfer Limit in the future. The exceeding Party shall comply within the time indicated by the ▇▇▇▇ ▇▇ any such requirement within the time the ▇▇▇▇ ▇▇ and provide to the ▇▇▇▇ ▇▇ evidence to confirm compliance.