Percent Spent Calculates More than Contract Line Hard Limit

We have a scenario where we have a contract line with a hard limit at the start of a contract. When we generate Percent Spent, the system is calculating and creating an event for the line beyond the hard limit, even though the hard limit is present, have others observed the same?

Revenue is not generated but the percent spent calculates which is not ideal. Ideally, the event should not calculate beyond the hard limit to begin with.