Common use of Liability for Loss Clause in Contracts

Liability for Loss. If Included Timber is destroyed or damaged by an unexpected event that signifi- cantly 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 caused by insect or disease after felling of timber shall be borne by Contractor, unless Contractor is prevented from removing such timber for reasons that would qualify for Contract Term Adjustment. Deterioration or loss of value of salvage timber is not an unexpected event, except for deterioration due to delay or interruption that qualifies for Con- tract Term Adjustment or under IT.3.3.

Liability for Loss. If Included Timber is destroyed or damaged by an unexpected event that signifi- cantly significant- ly changes the nature of Included Timber, such as fire, wind, flood, insects, disease, or similar cause, the party holding hold- ing title shall bear the timber value loss resulting from such destruction or damage; except that such losses caused by insect or disease after felling of timber shall be borne by Contractor, unless Contractor is prevented from removing such timber for reasons that would qualify for Contract Term Adjustment. Deterioration or loss of value of salvage timber ▇▇▇- ber is not an unexpected event, except for deterioration due to delay or interruption that qualifies for Con- tract Contract Term Adjustment or under IT.3.3IT.