Common use of LIABILITY AND SANCTIONS Clause in Contracts

LIABILITY AND SANCTIONS. In case that Applicant breaches any of its obligations hereunder, Applicant agrees to pay to LP a contractual penalty in the amount of CZK 100,000 (in words: one hundred thousand Czech crowns) per each individual breach, however aggregately not more than CZK 1,000,000 (in words: one million Czech crowns). The contractual penalty shall be due within fourteen (14) days of the receipt of a written call of LP to Applicant for payment. In such written call, LP will reasonably identify the underlying breach of obligation. Applicant hereby agrees explicitly to indemnify LP for any non-material harm incurred to LP by breaching the obligation of Applicant hereunder and/or in relation thereto. In order to avoid any doubts, Applicant hereby declares and agrees to be responsible in full extent for any breach by its Representatives and/or third parties to whom any Confidential information of LP was disclosed by Applicant in any manner, and shall indemnify LP for any harm in full extent as well as indemnify LP for any and all non-material harm in connection therewith. In case that Applicant breaches its contractual obligation under this Agreement, as a result of which LP would have according to a legal regulation, a judicial or other decision or any other fact, an obligation to pay any payment to any third party, Applicant undertakes to fulfil such an obligation if requested so by LP. In such request, LP will reasonably identify the underlying breach of obligation. In case Applicant is to pay any financial amount bearing interest to LP, the Parties expressly agree that interest on interest may be claimed.