Common use of Breach of Contract Liability Clause in Contracts

Breach of Contract Liability. 7.1 Any breach of any provision of this Agreement or any misrepresentation or warranty made by a party under this Agreement that is untrue or inaccurate constitutes a breach, and the breaching party shall be liable to the non-breaching party. Depending on the specific breach, such liability may include but is not limited to continuing performance, paying liquidated damages, indemnification for losses, and rescinding this Agreement. 7.2 Unless otherwise specified in the relevant provisions of this Agreement, the breaching party shall indemnify the other party for the direct losses caused by its breach, including but not limited to arbitration costs (including but not limited to case acceptance fees, processing fees, etc.), litigation costs (including but not limited to case acceptance fees, preservation fees, execution fees, etc.), appraisal fees, audit fees, lawyer fees, travel expenses, and other expenses incurred by the other party in recovering such losses.