Limit of Liability and Retention Sample Clauses

The "Limit of Liability and Retention" clause sets a maximum amount that one party (typically an insurer or indemnifying party) is obligated to pay under a contract, and establishes the portion of loss or claim that the other party must bear themselves before coverage or indemnification applies. In practice, this means that if a claim arises, the responsible party will only pay up to the agreed limit, and the other party must cover any losses up to the retention amount before the limit is triggered. This clause is essential for managing financial risk, ensuring that liability exposure is capped and that both parties understand their respective responsibilities in the event of a loss.
Limit of Liability and Retention. The amount stated in Item 2(a). of the Declarations for this coverage section shall be the maximum aggregate liability of the Insurer under this coverage section for all Loss from all Claims for which this coverage section provides coverage, regardless of the time of payment by the Insurer, and regardless of whether such Claims are made or initiated during the Policy Period or during any Discovery Period (if purchased). The amount stated in Item 2(b). of the Declarations for this coverage section will be the maximum aggregate liability of the Insurer for all Voluntary Settlements and Defense Expenses covered under Insuring Clause 2. which are incurred by the Insureds as a result of all Settlement Program Notices for which this coverage section provides coverage, regardless of the time of payment by the Insurer. The amount stated in Item 2(b). of the Declarations for this coverage section is a sublimit which further limits and does not increase the Insurer's maximum liability under this coverage section. All Related Claims will be treated as a single Claim made when the earliest of such Related Claims was first made, regardless of whether such date is before or during the Policy Period. The applicable Retention shall apply only once to each such single Claim. The Insurer's liability with respect to all Loss resulting from each Claim shall apply only to that part of Loss which is excess of the applicable Retention set forth in Item 3. or Item 4. of the Declarations for this coverage section, which shall be borne by the Entity uninsured and at its own risk. No Retention shall apply to (i) Loss under Insuring Clause 1 incurred by any Insured Person for which the Entity or Insured Plan is not permitted or required by common or statutory law to indemnify or is permitted or required by law to indemnify but does not do so by reason of Financial Impairment, (ii) any HIPAA civil money penalty covered by reason of subparagraph (i)(3) of the definition of Loss above, or (iii) Voluntary Settlement or Defense Expenses under Insuring Clause 2. The respective Retention for Indemnifiable Loss set forth in Items 3. and 4. of the Declarations for this coverage section shall apply to all other Loss, except as otherwise provided in the next succeeding paragraph. For purposes of this subsection 9. the resolutions of the Entity or Insured Plan shall be deemed to provide indemnification for Loss to the fullest extent permitted by common or statutory law. If the Entity or Insured ...
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Limit of Liability and Retention. Limit of Liability
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Limit of Liability and Retention. The Insurer's maximum Limit of Liability under this Policy for all Insuring Agreements combined shall not exceed the Total Policy Limit set forth in Item 3 of the Declarations regardless of whether such Insuring Agreement is provided as a sublimit or a separate limit, and regardless of the time of payment by the Insurer.
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Limit of Liability and Retention. Subsection A. of the General Terms and Conditions Applicable to All Coverage Parts is amended to add the following: The Employee Theft Limit of Liability shown in the SCHEDULE above is the most the Insurer will pay for all loss in connection with any Employee Theft during the Policy Period, regardless of the number of such Employee Thefts made against the Insureds. The limit described herein is a sublimit, included within, and not in addition to, the applicable Professional Liability Limit of Liability set forth in Item 4. of the Declarations Page. Notwithstanding any applicable Retention specified in the Declarations Page, the amount shown in the SCHEDULE above shall be the Retention applicable to all Loss in connection with each Claim made under this EMPLOYEE THEFT Insuring Agreement. The applicable Retention specified in the Declarations Page shall continue to apply with respect to each Claim outside of the EMPLOYEE THEFT Insuring Agreement. In the event more than one Retention applies to any Claim, the maximum total Retention applicable to such Claim shall be the highest of such applicable Retentions.
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Limit of Liability and Retention 
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Related to Limit of Liability and Retention

  • Limit of Liability Under no circumstances will the Company or an Affiliate be liable for any indirect, incidental, consequential or special damages (including lost profits) of any form incurred by any person, whether or not foreseeable and regardless of the form of the act in which such a claim may be brought, with respect to the Plan.

  • LIMITATION OF LIABILITY AND INDEMNITY 19.1. Subject to the provisions of the relevant laws that are applicable in the Republic of Cyprus from time to time: a) AM CY and any Affiliates make no warranties either expressly or impliedly as to merchantability, fitness for a particular purpose, or otherwise (including as to accuracy, availability, completeness or quality), with respect to any services offered by virtue of the Agreement, including, without limitation, AM CY’s trading platform; b) AM CY and its Affiliates are excluded from all liability in contract or otherwise relating to or resulting from use of any service to be provided under this Agreement and for any loss incurred by you directly or indirectly without limitation as a result of or arising out of: i. any inaccuracy, error or delay in or omission from any information provided to you under this Agreement; ii. any delays or failures or inaccuracies, or loss of access to, the provision of a service to you including, without limitation, any delay, failure or inaccuracy in, or the loss of access to, the trading platform or in respect of the transmission of orders, instructions or any other information; iii. any misinterpretation of your order or instructions which are unclear, ambiguous, or not specific; or iv. a service disruption event. 19.2. AM CY and its Affiliates are not liable in contract, tort (including negligence) or otherwise for any loss of prospective profits or expenses or special, indirect or consequential damages resulting from the supply of a service and the provision of custodial or depository services (as and if applicable). 19.3. To the fullest extent permitted by law, you release, discharge and indemnify and agree to keep AM CY, its Affiliates and their directors, officers, employees, associates, agents and representatives as well as their affiliates indemnified from and against all claims arising out of: a) any default, whether by your act or omission under this Agreement or any order, instruction or transaction; b) any breach by you of any applicable law; c) any representation or warranty made or given by you under this Agreement proven to be untrue or incorrect; d) any error, omission, fraud, malfeasance, negligence, misappropriation or criminal act or omission by you or by any of your clients, employees, agents or authorised persons, consultants or servants; e) any failure of any of your computer or electronic systems or networks to perform, be available or successfully transmit data to AM CY, or any error or inadequacy in the data or information input into such systems or networks by you; f) any delays in processing any order or instruction including, for instance, as a result of systems or market delays, or due to verification procedures or unauthorised processes or due to call waiting time or adherence to internal policies and procedures; g) anything lawfully done by AM CY in accordance with, pursuant or incidental to this Agreement; h) any instruction, request or direction given by you; i) by reason of AM CY complying with any direction, request or requirement of applicable law, any financial market, any government body or any regulatory body having jurisdiction over AM CY; j) arising from and in connection with or in any way related to AM CY in good faith accepting and acting on instructions received by facsimile transmission, email or by other means which are signed by or purported to be signed by you or any authorised person; k) arising out of AM CY’s observance of this Agreement; or l) payable in connection with the acquisition of any financial product or in relation to any calls or demands for payments (including unpaid capital) in respect of them.

  • Limitation of Liability and Indemnification State Street shall be held to a standard of reasonable care in carrying out its duties under this Agreement. State Street shall be responsible for the performance of only such duties as are set forth in this Agreement and, except as otherwise provided under Section XVI, shall have no responsibility for the actions or activities of any other party, including other service providers. State Street shall have no liability for any error of judgment or mistake of law or for any loss or damage resulting from the performance or nonperformance of its duties hereunder unless caused by or resulting from the negligence, reckless misconduct, willful malfeasance or lack of good faith of State Street, its officers or employees and, in such event, such liability will be subject to the limitations set forth in Section XIII herein. STATE STREET SHALL NOT BE LIABLE FOR ANY SPECIAL, INDIRECT, INCIDENTAL, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER (INCLUDING, WITHOUT LIMITATION, ATTORNEYS’ FEES) IN ANY WAY DUE TO THE TRUST’S USE OF THE SERVICES DESCRIBED HEREIN OR THE PERFORMANCE OF OR FAILURE TO PERFORM STATE STREET’S OBLIGATIONS UNDER THIS AGREEMENT. This disclaimer applies without limitation to claims regardless of the form of action, whether in contract (including negligence), strict liability, or otherwise and regardless of whether such damages are foreseeable. The Trust, or, if applicable, the relevant Portfolio, will indemnify and hold harmless State Street and its stockholders, directors, officers, employees, agents, and representatives (collectively, the “Trust Indemnified Persons”) for, and will pay to the Trust Indemnified Persons the amount of, any actual and direct damages, whether or not involving a third-party claim (collectively, the “Damages”), arising from or in connection with (i) any act or omission by State Street (or any of its affiliates) pursuant to this Agreement which does not constitute negligence, reckless misconduct, willful malfeasance or lack of good faith in fulfilling the terms and obligations of this Agreement, (ii) any act or omission by the Trust (or any of its affiliates) which constitutes a breach of any representation, warranty, term, or obligation contained in this Agreement, or (iii) any act or omission by the Trust (or any of its affiliates) which constitutes negligence, reckless misconduct, willful malfeasance, or lack of good faith in fulfilling the terms and obligations of this Agreement. The remedies provided in this paragraph are not exclusive of or limit any other remedies that may be available to State Street or any other Trust Indemnified Person. State Street will indemnify and hold harmless the Trust, and its respective shareholders, trustees, directors, officers, agents, and representatives (collectively, the “State Street Indemnified Persons”) for, and will pay to the State Street Indemnified Persons the amount of, any Damages, arising from or in connection with (i) any act or omission by State Street (or any of its affiliates) which constitutes a breach of any representation, warranty, term, or obligation contained in this Agreement or (ii) any act or omission by State Street (or any of its affiliates) which constitutes negligence, reckless misconduct, willful malfeasance, or lack of good faith in fulfilling the terms and obligations of this Agreement; provided, however, that State Street shall not be required to provide indemnification for damages arising from errors caused by inaccurate prices received from independent pricing services and reasonably relied upon by State Street. In the event that State Street is required to provide indemnification under this Section XII, its liability shall be limited as described under Section XIII below. The remedies provided in this paragraph are not exclusive of or limit any other remedies that may be available to the Trust or any other State Street Indemnified Person. The indemnification and limitation of liability contained herein shall survive the termination of this Agreement.