Liability for Abandonment Sample Clauses

The 'Liability for Abandonment' clause defines the responsibilities and potential financial consequences if one party unilaterally abandons a project or contract before its completion. Typically, this clause outlines what constitutes abandonment, the process for notifying the other party, and the damages or penalties that may be incurred as a result. Its core function is to deter parties from leaving obligations unfinished and to provide a clear mechanism for compensating the non-abandoning party, thereby allocating risk and ensuring accountability in contractual relationships.
Liability for Abandonment. A withdrawing Party shall remain liable and obligated for its share of all net costs and obligations that in any way relate to the abandonment of Joint Operations or a sole risk project in which such withdrawing Party participated, including the legal obligations related to assignment of ownership of the licence to the Danish State. Unless otherwise agreed, such share shall be the proportion which the withdrawing Party's cumulative deliveries of CO2 up to the effective date of withdrawal bears to the aggregate cumulative deliveries of CO2 of all the Parties up to the occurrence of abandonment, and prior to withdrawal such withdrawing Party shall provide the other Parties with such security therefor as is acceptable to all such other Parties based upon the then best estimate of aggregate cumulative deliveries.
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Liability for Abandonment. A withdrawing Party shall remain liable and obligated for its share of all net costs and obligations that in any way relate to the abandonment of Joint Operations or a Sole Risk Project in which such withdrawing Party participated. Prior to withdrawal such withdrawing Party shall provide the other Parties with such security therefore as is acceptable to all such other Parties. A Party's withdrawal shall not relieve it from liability to the non-withdrawing Parties with respect to any obligations or liabilities attributable to the withdrawing Party under this Article X merely because such obligations or liabilities are not identifiable at the time of withdrawal.
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Related to Liability for Abandonment

  • Liability for Damage Each party shall be liable to the other for all damage to the property of the other negligently, recklessly or intentionally caused by that party (or their agents, employees or invitees), except to the extent the loss is insured and subrogation is waived under the owner's policy.

  • Liability for Loss If Included Timber is destroyed or damaged by an unexpected event that significantly changes the nature of Included Timber, such as fire, wind, flood, insects, disease, or similar cause, the party holding title shall bear the timber value loss resulting from such destruction or damage; except that such losses after removal of timber from Sale Area, but before Scaling, shall be borne by Purchaser at Current Contract Rates and Required Deposits. Deterioration or loss of value of salvage timber is not an unexpected event, except for deterioration due to delay or interruption that qualifies for Contract Term Adjustment or under B8.33.

  • Liability for defects 5.1 The Customer is required to inspect the delivered Products without undue delay after delivery and to report any defects. 5.2 The delivered Products are deemed to have been approved if ▇▇▇▇, with regard to obvious defects, obvious shortages or other defects which were or would have been identifiable in the course of an immediate, careful inspection, has not received notifi- cation of the defect within 7 days of delivery of the product, or otherwise – in the case of unclear or hidden defects – within 7 days of the discovery of the defect or the time at which the defect was identifiable to the Customer in the course of normal use of the Product without closer inspection. 5.3 In the event of a justified complaint, the Customer will be entitled to two attempts to rectify defects or make a replacement delivery at ▇▇▇▇'▇ discretion free of charge within a reasonable period of time. Shortages will be delivered subsequently. If two attempts to rectify defects or make a replacement delivery within a reasonable period of time are unsuccessful, the Customer will be entitled to the statutory rights, subject to the provisions of clause 7. Subsequent performance will include neither removal of the defective item nor reassembly if ▇▇▇▇ was not originally required to carry out assembly. The expenses required for the purpose of inspection and subsequent performance, in particular transport, travel, labour and material costs (not: removal and assembly costs), insofar as these are not increased because the subject matter of the contract is located at a place other than our Customer's place of performance, will be borne by ▇▇▇▇ if there is actually a defect. Otherwise, ▇▇▇▇ may demand compensation from the Customer for the costs incurred by the unjustified request for rectification of the defect (in particular inspection and transport costs), unless the lack of defectiveness was not identifiable for the Customer. ▇▇▇▇ can refuse to rectify defects or make a replacement delivery if the Customer does not fulfil its payment obligations towards ▇▇▇▇ to an extent that corresponds to the defect-free part of the service provided. 5.4 No warranty will be assumed, in particular, in the following cases: Unsuitable or in- correct use by the Customer or by third parties instructed by the Customer, in particular through the use of insufficiently qualified personnel, faulty assembly or commission- ing, natural wear and tear (wearing parts), faulty or negligent handling, improper maintenance, unsuitable operating materials, defective construction work, unsuitable construction land, chemical, electrochemical or electrical influences, provided ▇▇▇▇ is not responsible for these circumstances. 5.5 ▇▇▇▇ is also not required to provide a warranty insofar as defects of Products are based on defective materials supplied by the Customer or insofar as defects of Products are based on the fact that the Customer has prescribed the execution of the order ac- cording to construction plans of third parties. 5.6 A delivery of used Products agreed with the Customer in the individual case is made to the exclusion of any warranty, unless ▇▇▇▇ has caused the defect intentionally or through gross negligence or has fraudulently concealed the defect. 5.7 The warranty period will be one year from delivery or, where acceptance was stipu- lated, from acceptance. Replaced parts will become our property and must be sent to us at our request. If shipping, assembly or commissioning is delayed through no fault of our own, our liability will expire no later than twelve months after the transfer of risk. 5.8 The right of recovery in accordance with sections 445a, 445b German Civil Code (BGB) is excluded, unless ▇▇▇▇ has caused the defect intentionally or by gross neg- ligence or has fraudulently concealed the defect.

  • Liability for Damages 1. The Purchaser shall be liable for any damages sustained by the State arising from Purchaser’s breach of the terms of this Contract and the State may cause all or part of the performance bond to be forfeited to recover such damages. 2. In the event that a portion of the timber sale under this Contract is resold as a result of the Purchaser’s forfeiture and the stumpage rate pursuant to the resold contract is lower than the stumpage rate provided herein, the difference between the original rate and the new rate shall be considered damages and the Purchaser shall be liable to the State for those damages. The State may cause all or part of the Purchaser’s performance bond to be forfeited to recover such damages.

  • Liability for Losses Subject to the limitations and exclusions of liability in this Agreement, the Custodian will be liable for Losses suffered or incurred by the Client to the extent such Losses are caused by the negligence, wilful default, or fraud of the Custodian in the performance of its obligations under this Agreement. The parties agree that “negligence” will mean a breach by the Custodian of its obligation to exercise the standard of care described in Section 17.1 above.