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We demonstrate that the conditions of spaser generation and the full losscompensation in a resonant plasmonic-gain medium (metamaterial) are identical.Consequently, attempting the full compensation or overcompensation of losses bygain will lead to instability and a transition to a spaser state. This willlimit (clamp) the inversion and lead to the limitation on the maximum losscompensation achievable. The criterion of the loss overcompensation, leading tothe instability and spasing, is given in a analytical and universal(independent from system's geometry) form.

Spaser Action, Loss Compensation, and Stability in Plasmonic Systems with Gain