Common use of Cessation of liabilities Clause in Contracts

Cessation of liabilities. Subject to Clause 14.1, each Owner shall on ceasing to be the Owner of any Share, cease to be liable for any matter or liabilities under this Deed other than in respect of any breach of this Deed by him prior to his ceasing to be an Owner.

Appears in 11 contracts

Sources: Deed of Mutual Covenant and Management Agreement, Deed of Mutual Covenant and Management Agreement, Deed of Mutual Covenant and Management Agreement

Cessation of liabilities. Subject to Clause 14.1, each Each Owner shall on ceasing to be the Owner of any Undivided Share, cease to be liable for any matter or liabilities under this Deed other than in respect of any breach of this Deed by him prior to his ceasing to be an Owner.

Appears in 1 contract

Sources: Deed of Mutual Covenant and Management Agreement