Liability under Contracts Sample Clauses

The "Liability under Contracts" clause defines the extent to which each party is responsible for losses, damages, or claims arising from the contract. Typically, this clause outlines the types of liabilities covered, such as direct or indirect damages, and may set limits on the amount or types of compensation one party must pay if a breach occurs. By clearly allocating financial risk and responsibility, this clause helps prevent disputes over damages and ensures both parties understand their potential exposure under the agreement.
Liability under Contracts. Unless otherwise decided by the Operating Committee, agreements with third parties shall be such that no Party other than the Operator shall be directly liable thereunder to such third party in connection with Joint Operations. The assumption of joint liability to a third party shall always require the unanimous vote of the Operating Committee. It shall be the responsibility of the Operator in concluding agreements to ensure that they are drafted so as to incorporate the legal position required by this Section 4.6.3.
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Liability under Contracts. Notwithstanding anything in this Security Agreement to the contrary, (a) the execution of this Security Agreement shall not release any Grantor from its obligations and duties under the contracts and agreements included in the Collateral to the extent set forth therein, (b) the exercise by the Agent of any of its rights hereunder shall not release any Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral, and (c) neither the Agent nor any Bank shall have any obligation or liability under the contracts and agreements included in the Collateral by reason of the execution and delivery of this Security Agreement, nor shall the Agent or any Bank be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.
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Liability under Contracts. Anything herein to the contrary notwithstanding, each Grantor shall remain liable under each of the Contracts and the Leases to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms thereof. Neither the Security Trustee nor any Secured Party shall have any obligation or liability under any Contract or Lease by reason of or arising out of this Agreement or the receipt by the Security Trustee or any Secured Party of any payment relating thereto, nor shall the Security Trustee or any Secured Party be obligated in any manner to perform any of the obligations of any Grantor under or pursuant to any Contract or Lease, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party thereunder, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.
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Liability under Contracts. Notwithstanding anything in this Security Agreement to the contrary, (a) the execution of this Security Agreement shall not release the Grantor from its obligations and duties under the contracts and agreements included in the Collateral to the extent set forth therein, (b) the exercise by the Agent of any of its rights hereunder shall not release the Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral, and (c) neither the Agent nor any Bank shall have any obligation or liability under the contracts and
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Liability under Contracts. ‌ Any written instrument creating an obligation of a Fund shall be conclusively taken to have been executed or done by the Manager on behalf of the relevant Fund in its capacity as Manager under this Trust Agreement. The Manager shall use its commercially reasonable efforts to ensure that any written instrument creating a material obligation of the Funds refers to the Trust Agreement and contains a term or other provision to the effect that the obligations created thereunder are not personally binding upon, nor shall resort be had to, nor recourse or satisfaction sought from, the private property of any of the Unitholders. The omission of such recital, term or other provision shall not impose or have the effect of imposing personal liability on the Manager or its directors, officers, employees or agents or on any of the Unitholders or agents of a Fund, whether in contract, tort or otherwise. DESCRIPTION OF UNITS‌
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Liability under Contracts. Notwithstanding anything herein to the contrary (i) each Borrower shall remain liable under all of its Contracts and any other contracts and agreements between each Borrower and any Contract Obligors or otherwise included in or related to the Collateral, to the extent set forth therein, and shall perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (ii) the exercise by Lender of any rights under any of the Loan Documents shall not release any Borrower from any of its duties or obligations under any Contracts or any such other contracts and agreements, and (iii) Lender shall not have any obligation or liability under the Contracts or any such other contracts and agreements, nor shall Lender be obligated to perform any of the obligations or duties of any Borrower thereunder or to take any action to collect or enforce any rights thereunder.
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Liability under Contracts. Anything herein to the contrary notwithstanding, (i) the Company shall remain liable under any contracts, agreements and other documents included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the Secured Party’s exercise of any of the rights hereunder shall not release the Company from any of its duties or obligations under such contracts, agreements and other documents, and (c) the Secured Party shall not have any obligation or liability under such contracts, agreements and other documents by reason of this Agreement, nor shall the Secured Party be obligated to perform any of the Secured Obligations or duties of the Company thereunder or to take any action to collect or enforce any such contract, agreement or other document.
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Liability under Contracts. Subject to each Loan Party's rights and duties under the Bankruptcy Code (including section 365 of the Bankruptcy Code), it is expressly agreed by each Loan Party that, anything herein to the contrary notwithstanding, such Loan Party shall remain liable under its Contracts to observe and perform all the conditions and obligations to be observed and performed by it thereunder. Neither the Administrative Agent nor any Secured Party shall have any obligation or liability under any Contract by reason of or arising out of this Agreement, the Loan Documents, or the granting to the Administrative Agent of a security interest therein or the receipt by the Administrative Agent or any Lender of any payment relating to any Contract pursuant hereto, nor shall the Administrative Agent be required or obligated in any manner to perform or fulfill any of the obligations of any Loan Party under or pursuant to any Contract, or to make any payment, or to make any inquiry as to the nature or the sufficiency of any payment received by it or the sufficiency of any performance by any party under any Contract, or to present or file any Claim, or to take any action to collect or enforce any performance or the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times.
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Liability under Contracts. Any written instrument creating an obligation of the Fund (including the loan documents in respect of any borrowing) shall be conclusively taken to have been executed or done by the Trustee only in the capacity of Trustee under this Trust Agreement. Any written instrument creating an obligation of the Fund shall refer, where applicable, to this Trust Agreement and contain a disavowal of liability upon and waiver of claim against Unitholders and indicate that the obligations thereunder are not personally binding upon, nor shall resort be had to the private property of, the Trustee, the Manager, an Investment Advisor, any Unitholder, or any director, officer, employee or agent of the Trustee, the Manager or an Investment Advisor, but the Fund Property or a specific portion thereof only shall be bound, but the omission of such provision shall not operate to impose personal liability on the Trustee, the Manager, an Investment Advisor, any Unitholder, or any of the officers, directors, employees or agents of the Trustee, the Manager or an Investment Advisor.
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Related to Liability under Contracts

  • Warranty Obligations ‌ (a) Project Co represents, warrants and covenants that: (i) the Works shall conform to the requirements of this Project Agreement, Good Industry Practice, Applicable Law and all professional engineering principles generally accepted as standards of the industry in the Province of Ontario; (ii) the Works shall be free of defects, including design defects, errors and omissions; and (iii) materials and equipment shall be of good quality and in compliance with this Project Agreement. (b) During the Warranty Period and subject to Section 11.15(c), Project Co shall promptly, at its sole cost and expense, correct and Make Good all Construction Defects arising in respect of the Works. For greater certainty, Project Co is required to correct and Make Good Construction Defects related to any Product during the applicable Warranty Period despite Project Co having obtained on Contracting Authority’s behalf industry- standard or other equipment warranties in accordance with Section 11.15(f). For all work to correct Construction Defects, the applicable Warranty Period shall be extended for a further two years from the date of the last work completed in respect of such corrective Works. For clarity, any extension of a Warranty Period for the purposes of a correction shall only apply to the relevant Construction Defect and not the Works as a whole.‌ (c) In addition to the obligation to correct and Make Good Construction Defects during the Warranty Period, Project Co shall at its expense correct and Make Good any Construction Defects that could not reasonably have been ascertained by a competent person in accordance with Good Industry Practice during a visual inspection of the‌ Works (“Construction Latent Defect”), provided Contracting Authority gives Project Co written Notice of the Construction Latent Defect within the time frame applicable to such Construction Latent Defect pursuant to the Limitations Act, 2002 (Ontario). (d) The warranties described in this Section 11.15 shall cover labour and material, including, the costs of removal and replacement of covering materials. The warranties shall not limit extended warranties on any Product or item of equipment called for elsewhere in the Output Specifications or otherwise provided by any manufacturer of such Product or equipment. (e) If Project Co fails to correct and Make Good any Construction Defects or Construction Latent Defects in accordance with Sections 11.15(b) and 11.15(c) and in the time period specified in Section 11.16(a) or Section 11.16(b), as applicable, without prejudice to any other right or remedy Contracting Authority may have, Contracting Authority may correct such Construction Defects or Construction Latent Defects at Project Co’s sole cost and expense. (f) Project Co shall obtain warranties from the manufacturers of each of the Products for the duration(s) and in accordance with the applicable requirements specified in the Output Specifications in the name of and to the benefit of both Project Co and Contracting Authority. Where, in respect of a Product warranty, the Output Specifications do not specify a specific duration and/or other requirements, Project Co shall obtain industry-standard warranties from the applicable manufacturers in the name of and to the benefit of Project Co and Contracting Authority which shall extend no less than two years from the Substantial Completion Date. Each Product warranty shall be issued by the applicable manufacturer and delivered to Project Co no later than 30 days prior to the Substantial Completion Date. Project Co shall ensure that each Product warranty, including any Product warranty extended under this Section 11.15(f), is fully assigned to Contracting Authority, at no cost or expense to Contracting Authority, at the end of the Warranty Period, as such Warranty Period may be extended in accordance with Section 11.15(b).‌

  • Exceptions from Liability Without limiting the generality of any other provisions hereof, neither the Custodian nor any Domestic Subcustodian shall be under any duty or obligation to inquire into, nor be liable for:

  • LIMITATION OF CONTRACTOR’S LIABILITY Except as specified in any separate writing between the Contractor and an END USER, Contractor’s total liability under this Agreement, whether for breach of contract, warranty, negligence, strict liability, in tort or otherwise, but excluding its obligation to indemnify H-GAC, is limited to the price of the particular products/services sold hereunder, and Contractor agrees either to refund the purchase price or to repair or replace product(s) that are not as warranted. In no event will Contractor be liable for any loss of use, loss of time, inconvenience, commercial loss, loss of profits or savings or other incidental, special or consequential damages to the full extent such use may be disclaimed by law. Contractor understands and agrees that it shall be liable to repay and shall repay upon demand to END USER any amounts determined by H-GAC, its independent auditors, or any agency of State or Federal government to have been paid in violation of the terms of this Agreement.

  • Liability of Seller Seller shall be liable in accordance herewith only to the extent of the obligations in this Agreement specifically undertaken by Seller and the representations and warranties of Seller.

  • Liabilities for Breach of Contract 11.1 The Parties agree and acknowledge that, if any Party (“Defaulting Party”) is materially in breach of any provision of this Agreement, or materially fails to perform or delays in performing any of its obligations hereunder, such breach, failure or delay shall constitute a default hereunder (the “Default”), and the non-defaulting Party shall be entitled to demand the Defaulting Party to rectify such Default or take remedial actions within a reasonable period of time. If the Defaulting Party fails to rectify such Default or take remedial actions within such reasonable period of time or ten (10) days from the receipt of the written notice from the non-defaulting Party requiring such rectification, the non-defaulting Party shall be entitled to make a decision at its sole discretion: 11.1.1 the WFOE shall be entitled to terminate this Agreement and claim from the Defaulting Party for damages if the Defaulting Party is any of the Existing Shareholders or the Company; 11.1.2 the non-defaulting Party shall be entitled to claim from the Defaulting Party for damages if the Defaulting party is the WFOE, provided that under no circumstances shall the Non-defaulting Party be entitled to terminate or rescind this Agreement unless otherwise provided by laws. 11.2 Notwithstanding anything to the contrary in this Agreement, this Article shall survive the termination of this Agreement.