Specific Limits Clause Samples

The 'Specific Limits' clause sets defined maximum amounts for certain liabilities, obligations, or coverages within a contract. For example, it may cap the amount a party must pay for damages, or set a maximum payout under an insurance policy for particular types of claims. By establishing these boundaries, the clause provides predictability and protects parties from unlimited or unforeseen financial exposure.
Specific Limits. In the first Agreement Period, the Government of the Socialist Republic of Vietnam shall limit exports to the United States of cotton, wool, man-made fiber, silk blend and non-cotton vegetable fiber textiles of Vietnamese origin to two-thirds of the Specific Limits set out in Annex B, as such Specific Limits may be adjusted in accordance with this Agreement. During each subsequent Agreement Period, the Government of the Socialist Republic of Vietnam shall limit exports to the United States of cotton, wool, man-made fiber, silk blend and non-cotton vegetable fiber textiles of Vietnamese origin to the Specific Limits set out in Annex B, as increased by the appropriate annual growth rates, and as such Specific Limits may be adjusted in accordance with this Agreement.
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Specific Limits. The Covenantors shall not be liable in respect of a Tax Claim or Tax Warranty Claim to the extent that: (1) allowance, provision or reserve in respect of the matter or thing giving rise to the Tax Claim or Tax Warranty Claim has been made in the Completion Accounts; or (2) the Tax Claim or Tax Warranty Claim would not have arisen but for any increase in rates of Tax or any change in law, published practice or any withdrawal of any extra-statutory concession by a Taxation Authority, being an increase, change or withdrawal made after Completion with retrospective effect; or (3) the Tax Claim or Tax Warranty Claim would not have arisen but for a change, after the date of this Agreement, in Accounting Practices other than a change required to ensure compliance with the law or with applicable accounting practices to the relevant Group Company at Completion; or (4) the Tax Claim or Tax Warranty Claim arises or is increased as a consequence of the voluntary withdrawal or postponement by any Group Company after Completion of any valid claim for Relief made on or before Completion; or (5) the Tax Claim or Tax Warranty Claim would not have arisen but for a cessation of, or change in the nature or conduct of, any trade carried on by any Group Company, being a cessation or change occurring on or after Completion; or (6) the Tax Claim or Tax Warranty Claim arises by virtue of the average rate of tax of any Group Company increasing as a consequence of the Buyer acquiring the Shares; or (7) the Tax Claim is, or the Tax Warranty Claim relates to, a Tax Liability that has been discharged on or before Completion and such discharge has been taken into account in the Accounts; or (8) the Buyer has made recovery for the Tax Liability under any other provision of this Agreement; or (9) a Relief other than a Buyer’s Relief is available, at no cost, to any Group Company; or (10) the Tax Claim or Tax Warranty Claim would not have arisen but for a voluntary transaction or action carried out or effected by the Buyer or any Group Company at any time after Completion in circumstances where the Buyer or that Group Company was aware or should have been aware that the transaction or action in question would give rise to a Tax Liability, other than any such transaction or action: (1) carried out or effected pursuant to a legally binding commitment created on or before Completion; or (2) carried out or effected to comply with any law, regulation or the request of any Taxation Authority; or...
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Specific Limits. For Payment Orders that are subject to Article 4A of the UCC, Bank is liable only for damages required to be paid under Article 4A or the Fedwire Regulations, as applicable, except as otherwise agreed in this Agreement, provided that Client has otherwise complied with any duties imposed on Client under these General Terms or any applicable Service Terms & Conditions (which includes the Wire Transfer Service Terms & Conditions). For all Payment Orders and Entries not subject to Article 4A, and for all other obligations under Bank’s ACH Origination Service, Bank’s liability is limited to actual damages, resulting directly from Bank’s gross negligence, willful misconduct or bad faith or Bank’s failure to exercise reasonable care, not exceeding the following, as applicable: (i) in case of an excessive debit to Client’s Account, the amount of the excess plus compensation equivalent to interest from the date of the excessive debit to the date of the refund; (ii) in case of payment to an account not specified by Client, the amount of the payment plus compensation equivalent to interest from the date of the payment to the date of the refund; (iii) in case of any delay in crediting a Debit Entry to Client’s Account, the amount of compensation equivalent to interest for the period of delay; or (iv) in all other cases, the damages specified in subsection (c) below. If Bank fails to credit an Account utilized in connection with any Service in accordance with the Service Terms & Conditions, as of the date such credit was earned, upon discovery or notification of such error, Bank will properly credit such Account, but Bank shall not incur any liability therefore except as otherwise provided herein or in the Service Terms & Conditions. Client must use Bank may place limitations on any Service based on its risk management procedures, and it may consider the creditworthiness of, and its experience and transactions with, Client for that purpose. Such limits may be changed by Bank in its sole discretion from time to time. Bank will notify Client of the applicable limits.‌
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Specific Limits. For Payment Orders that are subject to Article 4A of the UCC, Bank is liable only for damages required to be paid under Article 4A or the Fedwire Regulations, as applicable, except as otherwise agreed in this Agreement, provided that Client has otherwise complied with any duties imposed on Client under these General Terms or any applicable Service Terms & Conditions (which includes the Wire Transfer Service Terms & Conditions). For all Payment Orders and Entries not subject to Article 4A, and for all other obligations under Bank’s ACH
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Specific Limits. CUSTOMER will not exceed any limits set out on the Order Form, including the maximum amount of storage, bandwidth and User Accounts.
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Specific Limits 
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Related to Specific Limits

  • Specific Limitations No Member shall have the right or power to: (a) withdraw or reduce such Member’s Capital Contribution except as a result of the dissolution of the Company or as otherwise provided by law or in this Agreement; (b) make voluntary Capital Contributions or to contribute any property to the Company other than cash; (c) bring an action for partition against the Company or any Company assets; (d) cause the termination and dissolution of the Company, except as set forth in this Agreement; or (e) upon the Distribution of its Capital Contribution require that property other than cash be distributed in return for its Capital Contribution. Each Member hereby irrevocably waives any such rights.

  • Coverage Types and Policy Limits The types of coverage and policy limits required from the Contractor are specified in Paragraph B Insurance Requirements below.

  • Minimum Limits The minimum limits to be maintained by the School (inclusive of any amounts provided by an umbrella or excess policy) shall be $1 million per occurrence/$3 million annual aggregate.

  • Public Liability Insurance (a) The public liability insurance referred to in paragraph 12.1(b) shall (i) provide that in as much as such policies cover more than one insured, all terms, conditions, insuring agreements and endorsements, with the exception of limits of liability, deductibles or retentions and liability for premiums, commissions, assessments or calls (which shall be solely a liability of Lessee), shall operate in the same manner as if there were a separate policy or policies covering each insured, (ii) waive any rights of subrogation of the insurers against Owner Participant, Lessor, the Trust Company, the Indenture Trustee, the Policy Provider and Loan Participant (iii) provide that neither Owner Participant, Lessor, the Trust Company, the Policy Provider, the Indenture Trustee nor Loan Participant shall have any responsibility for any insurance premiums, whether for coverage before or after cancellation or termination of any such policies as to Lessee and (iv) be primary without contribution from any similar insurance maintained by Owner Participant, Lessor, the Trust Company, the Indenture Trustee, the Policy Provider or Loan Participant. (b) Lessee shall use its reasonable efforts to obtain public liability insurance policies which stipulate that coverage thereunder will not be invalidated (as to Owner Participant, Loan Participant, Lessor, as Lessor of the Units and in its individual capacity, and the Indenture Trustee) by any act or neglect of Lessee, or any breach or violation by Lessee of any warranties, declarations or conditions contained in such policies, but shall be under no obligation to obtain such policies containing such stipulations if they are not available to Lessee at commercially reasonable rates in the markets in which Lessee has then placed its insurance program. (c) In the event any public liability insurance policy or coverage thereunder which are required to be maintained under Section 12.1(b) shall not be available to Lessee in the commercial insurance market on commercially reasonable terms, Lessor shall not unreasonably withhold its agreement to waive such requirement. Lessee shall make written request for any such waiver in writing, accompanied by written reports prepared, at Lessee's option, either by (i) one independent insurance advisor chosen by Lessee and Lessor or (ii) three independent insurance advisors, one chosen by Lessor, one chosen by Lessee and one chosen by the other two advisors (one of which may be the regular insurance broker or brokers of Lessee). The fees and expenses of all such advisors shall be paid by Lessee. The written reports required hereunder shall unanimously (x) state that such insurance (or the required coverage thereunder) is not reasonably available to Lessee at commercially reasonable premiums in the commercial insurance markets within which Lessee or the Manager normally purchases its insurance from insurers, acceptable to Lessee, with "A.M. Best's" rating of A- or better for railcars of similar type and capacity and (y) explain in detail the basis for such conclusions. At any time after the granting of such waiver, but not more often than once a year, Lessor may make a written request for a supplemental report (in form reasonably acceptable to Lessor) from such insurance advisor(s) updating the prior report and reaffirming the conclusions set forth therein. Lessee shall provide any such required supplemental report within 60 days after receipt of the written request therefor. Any such waiver shall be effective for only as long as such insurance is not reasonably available to Lessee in the commercial markets in which Lessee normally purchases its insurance at commercially reasonable rates, it being understood that the failure of Lessee to furnish timely any such supplemental report shall be conclusive evidence that such condition no longer exists. If such supplemental report shows that such coverage is available, Lessee shall within 90 days of such report obtain such insurance coverage. During any period with respect to which such waiver has been granted and remains in effect under this Section 12.3(c), Lessee shall obtain public liability insurance as set forth in Section 12.1(b) from such carriers, in such amounts and with coverage limits and deductibles as may be reasonable in its judgment under the circumstances, but in any event (i) no less than prudent industry standards and (ii) in an amount that may be purchased for a premium equal to 200% of Lessee's cost (on a fleet-wide basis) of public liability insurance premiums for the coverage on a fleet-wide basis required by Section 12.1(b) for the final year immediately preceding the fiscal year in which such waiver first was granted.

  • Excess Public Liability Insurance over and above the Employers’ Liability Commercial General Liability and Comprehensive Automobile Liability Insurance coverage, with a minimum combined single limit of Twenty Million Dollars ($20,000,000) per occurrence/Twenty Million Dollars ($20,000,000) aggregate.