Common use of Essential Elements Clause in Contracts

Essential Elements. The Parties acknowledge that the Fees, limitations of liability, waivers, and ▇▇▇▇▇▇▇▇’s express waiver in Section 5.8 (Intellectual Property Waiver) for the license granted hereunder and the Company’s provision of Services reflect the allocation of risk between the Parties, are essential elements of the basis of the bargain between the Parties and absent such provisions, including the limitation of liability, the economic terms would be substantially different.

Essential Elements. The Parties acknowledge that the Feesfees, limitations of liability, waivers, and ▇▇▇▇▇▇▇▇Customer’s express waiver in Section 5.8 6.8 (Intellectual Property Waiver) for the license granted hereunder and the CompanyMDP’s provision of Services reflect the allocation of risk between the Parties, are essential elements of the basis of the bargain between the Parties and absent such provisions, including the limitation of liability, the economic terms would be substantially different.