Common use of Consequential and Punitive Damages Clause in Contracts

Consequential and Punitive Damages. The Parties have agreed on liquidated damages for various beaches that are the basis for a Party’s exercise of its right to terminate this Agreement under certain provisions, and the Parties have also agreed to the liability limits set forth in Section 15. Except with respect to consequential damages authorized under the first sentence of Section 15.1 and an action for indemnification under the last sentence of Section 15.1 and the last sentence of Section 15.2, neither Party shall be liable for, nor will the measure of damages include, any punitive or special damages or amounts for loss of income or profits, even if such damages were foreseeable.