Maximum Limiting Amount Clause Samples
The Maximum Limiting Amount clause sets a cap on the total financial liability or exposure that one party may incur under a contract. In practice, this means that regardless of the number or nature of claims made, the responsible party will not be required to pay more than the specified maximum amount. This clause is commonly used in service agreements, construction contracts, or insurance policies to provide certainty and predictability regarding potential losses. Its core function is to allocate and limit risk, ensuring that parties are aware of and can plan for the maximum possible financial impact arising from the agreement.
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Maximum Limiting Amount. The total amount that may be paid to the Consultant for all services and expenses under this Agreement shall not exceed the maximum limiting amount of $ . The City shall not be liable to Consultant for any amount exceeding the maximum limiting amount without duly authorized written approval.
Maximum Limiting Amount. The total amount that may be paid to the Contractor for all services and expenses under this Contract shall not exceed the maximum limiting amount of $[ ]. The City shall not be liable to Contractor for any amount exceeding the maximum limiting amount without duly authorized written approval.
Maximum Limiting Amount. The Maximum Limiting Amount or MLA is the maximum amount to be paid to Subcontractor hereunder for all Services, as set forth below. It is understood that the MLA will include all of Subcontractor’s costs and expenses to perform the Services. Subcontractor will not exceed the MLA or Work Order NTE except when overages have been approved by VEIC in a written amendment to this Subcontract or applicable Work Order in accordance with the provisions of Section 36 prior to Subcontractor exceeding the Subcontract MLA or Work Order Not to Exceed. SUBCONTRACTOR BEARS ALL RISKS FOR COST OVERRUNS INCURRED BY EXCEEDING THE SUBCONTRACT MLA OR WORK ORDER NTE WITHOUT NEGOTIATING AND EXECUTING A WRITTEN AMENDMENT TO THE SUBCONTACT MLA OR WORK ORDER NTE BEFORE THE COST OVERRUNS OCCUR.
Maximum Limiting Amount. The total amount that may be paid to the Vendor for all services and expenses under this Agreement shall not exceed the maximum limiting amount of $ . The City shall not be liable to Vendor for any amount exceeding the maximum limiting amount without duly authorized written approval.
Maximum Limiting Amount. The total amount to be paid to Consultant for all services, including overhead shall not exceed a maximum limiting amount of TWENTY FOUR THOUSAND FIVE HUNDRED AND EIGHTY EIGHT DOLLARS ($24,588).
Maximum Limiting Amount. The total cumulative amount that may be paid to the Contractor for all services and expenses under any Work Assignment Contract executed pursuant to this Agreement shall not exceed the maximum limiting amount of $100,000. The City shall not be liable to Contractor for any amount exceeding the maximum limiting amount without duly authorized written approval. If this Agreement is renewed or extended, the Parties shall execute an amendment to this Agreement which identifies the maximum limiting amount for the renewal term.
Maximum Limiting Amount. The total amount to be paid to the Bidder for all services shall not exceed a maximum limiting amount of Twenty Thousand Dollars ($20,000.00).
Maximum Limiting Amount. The total amount that may be paid to the Contractor for all services and expenses under this Agreement shall not exceed the maximum limiting amount of
Maximum Limiting Amount. The total amount that may be paid to the Consultant for all services and expenses under this Contract shall not exceed the maximum limiting amount of
Maximum Limiting Amount. The total amount to be paid to the CONSULTANT for all services shall not exceed a maximum limiting amount of $ 65,887.00. Under the prior contract and the three amendments thereto, the Contract for services maximum limiting amount increased as follows:
1. $24,588 for the initial Phase 1 contract;
2. Amendment 1, Adding $26,262 for Phase II of the project, totaling $51,150;
3. Amendment 2, Adding $6,851 for the extension of time caused by the ROW acquisition difficulties totaling $57,701
4. Amendment 3. Adding $8,186 to the previous total to accommodate a design change on the project caused by landowner concerns for a total of $65,887. To date, $64,065.88 of the Maximum Limiting Amount under Amendment 3 has been expended, leaving $1,821.12 remaining. This Amendment 4 increases the amount remaining for the remaining scope of work as noted in paragraph 1 by $12,000, thereby increasing the total Maximum Limiting Amount to $77,887 and the Amount remaining to $13,821.12.