Noun
A specified wager amount that must be met exactly if a wager is to be made, rather than a specified range of allowable wagers. Different than a flat limit because a fixed limit may change between rounds within a given hand. Commonly referred to simply as the limit.
Adjective
Structured limit; in which the bets, raises, or reraises must be made for a specific amount rather than being allowed to fall between a minimum and maximum amount, usually with a lower amount for earlier rounds and a higher amount for latter rounds; as opposed to spread limit.