Stacking Limit Sample Clauses
A Stacking Limit clause sets a maximum cap on the total liability or coverage available under an insurance policy or contract, regardless of the number of claims, occurrences, or policies involved. In practice, this means that even if multiple claims arise from the same event or multiple policies could potentially apply, the total payout cannot exceed the specified stacking limit. This clause is commonly used to prevent the insured from combining, or "stacking," the limits of several policies or coverage periods to increase the total amount recoverable. Its core function is to control the insurer's or obligor's financial exposure and provide predictability in the event of multiple claims.
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Stacking Limit. If the Program Guide, Schedule A or Schedule B contains any government funding stacking limitation or restriction applicable to the Project ("Stacking Limit"), then the Applicant shall comply with such Stacking Limit. If there is such a Stacking Limit, then:
(a) for the purposes of monitoring the Stacking Limit, the Applicant shall disclose to Alberta Innovates all funding assistance received from any government body for the Project ("Government Funding") both before the Effective Date and throughout the Term; and
(b) if the total amount of Government Funding received by the Applicant, Including the Investment, is in excess of the Stacking Limit at any time during the Term, Alberta Innovates may Elect to unilaterally reduce the Investment such that the Stacking Limit is not exceeded, or to reclaim any portions of the Investment paid in excess of the Stacking Limit. Alberta Innovates will provide prompt Notice to the Applicant of any such reduction or reclamation.
Stacking Limit. The maximum level of total government assistance (whether from federal, provincial/territorial, and/or municipal departments, governmental agencies or Crown corporations) cannot exceed seventy-five (75%) percent of the total Project Costs (the “Stacking Limit”). At times where the total government assistance to the Applicant exceeds the Stacking Limit, Alberta Innovates reserves the right to unilaterally and without notice reduce its investment such that the Stacking Limit is not exceeded.
Stacking Limit. For simplified and guaranteed issue policies to be reinsured under automatic reinsurance, the total amount of insurance, for simplified and guaranteed issue policies, in force and applied for, in all companies shall not exceed the Stacking Limit as shown in Schedule A.
Stacking Limit. For clarity, the Applicant’s matching Contribution described in Section 3.5 above, must be from the Applicant’s own funds and must not be paid from any form of government assistance (whether from federal, provincial/territorial, and/or municipal departments, government agencies or Crown Corporations.
Stacking Limit. 7.1 The City will declare to DND all sources and amounts of funding for this Project at the time of application, at any time throughout the Project, and at the end of the Project. In that regard, the City declares that it will not receive any contribution other than that provided for in this Agreement.
7.2 The maximum total government assistance (i.e. total federal, provincial, and municipal assistance) is one hundred percent (100%) of Eligible Costs but the total DND Contribution pursuant to this Agreement cannot and will not exceed ninety seven percent (97%) of Eligible Costs up to a maximum of $19.
Stacking Limit. Each Party acknowledges and agrees that any Party, which for clarity includes a Team Participant, may receive funding or in-kind contributions from third parties for this Collaborative, including Other Government Assistance. Nothing in this Agreement shall prohibit any Party from using third-party funding to assist it to carry out its obligations under this Agreement. However, if the Stacking Limit is exceeded as a result of receiving Other Government Assistance, then the offend- ing Party must provide a written explanation how the funds received were spent, if at all (“Excess Funding”).