Common use of Exclusion of losses Clause in Contracts

Exclusion of losses. Frontline is not liable to KTL under Clause 8.1 for any loss: (i) to the extent it arises solely as a result of an intentional act of or comission by KTL after Closing; (ii) to the extent the loss occurs solely as a result of any legislation not in force at the date hereof or any change of law which comes into force after the date hereof and (in each case) which could not reasonably have been foreseen at the date hereof; or (iii) which is contingent unless and until the contingent liability becomes an unconditional liability, provided that this shall not be interpreted so as to prevent KTL from meeting the time limitations set out in Clause 8.4 by notifying Frontline of a potential claim relating to any contingent liability.

Exclusion of losses. Frontline is not liable to KTL under Clause 8.1 for any loss: (i) to the extent it arises solely as a result of an intentional act of or comission omission by KTL after the relevant Closing; (ii) to the extent the loss occurs solely as a result of any legislation not in force at the date hereof or any change of law which comes into force after the date hereof and (in each case) which could not reasonably have been foreseen at the date hereof; or (iii) which is contingent unless and until the contingent liability becomes an unconditional liability, provided that this shall not be interpreted so as to prevent KTL from meeting the time limitations set out in Clause 8.4 by notifying Frontline of a potential claim relating to any contingent liability.