Liability Neither Clause Samples

The 'Liability Neither' clause serves to clarify that neither party will be held liable to the other for certain types of damages or losses arising from the agreement. Typically, this clause excludes liability for indirect, incidental, or consequential damages, such as lost profits or business interruptions, regardless of the cause. Its core function is to allocate risk between the parties by limiting exposure to potentially significant and unpredictable claims, thereby providing both sides with greater certainty and protection in their contractual relationship.
Liability Neither the Agent nor any of its directors, officers, employees or agents shall be liable to the Lenders for anything done or omitted to be done by the Agent under or in connection with any of the Relevant Documents unless as a result of the Agent’s gross negligence or wilful misconduct.
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Liability Neither the Agent nor the Security Trustee nor any of their respective directors, officers, employees or agents shall be liable to any of the other Finance Parties for anything done or omitted to be done by the Agent or the Security Trustee under or in connection with the Security Documents unless as a result of the Agent’s or the Security Trustee’s wilful misconduct or gross negligence.
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Liability Neither the Seventh Issuer Security Trustee nor the Receiver of the Seventh Issuer shall be liable to the Seventh Issuer in the absence of breach of the terms of this Deed by them, or wilful default, fraud, negligence or wilful misconduct on their part or that of their officers, employees or agents in respect of any loss or damage which arises out of the exercise or the attempted or purported exercise of or failure to exercise any of their respective powers.
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Liability Neither the Chargee nor any Receiver shall, if it has exercised due care in selecting the Delegate, be in any way liable or responsible to the Chargor for any loss or liability arising from any act, default, omission or misconduct on the part of any Delegate. 14. APPLICATION OF PROCEEDS 14.1 Order of application of proceeds Subject to the claims of any person having prior rights thereto, all monies received by the Chargee, a Receiver or a Delegate pursuant to this Deed, after the Security constituted by this Deed has become enforceable, shall be applied in the following order of priority: (a) first, in or towards payment of or provision for all costs, charges and expenses incurred by or on behalf of the Chargee (and any Receiver, Delegate, attorney or agent appointed by it) under or in connection with this Deed, and of all remuneration due to any Receiver under or in connection with this Deed;
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Related to Liability Neither

  • Liability of the Company The Company shall be liable in accordance herewith only to the extent of the obligations specifically imposed upon and undertaken by the Company herein.

  • Liability of Company The Indemnitee agrees that neither the stockholders nor the directors nor any officer, employee, representative or agent of the Company shall be personally liable for the satisfaction of the Company's obligations under this Agreement and the Indemnitee shall look solely to the assets of the Company for satisfaction of any claims hereunder.

  • Liability of General Partner Except as otherwise provided in this Agreement, the liability of the General Partner arising from the conduct of the business affairs or operations of the Partnership or from the debts of the Partnership is unrestricted.

  • 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 Each party of this agreement shall exonerate the other from any civil liability for damages suffered by him or his staff as a result of performance of this agreement, provided such damages are not the result of serious and deliberate misconduct on the part of the other party or his staff. The National Agency of [country], the European Commission or their staff shall not be held liable in the event of a claim under the agreement relating to any damage caused during the execution of the mobility period. Consequently, the National Agency of [country] or the European Commission shall not entertain any request for indemnity of reimbursement accompanying such claim.