Common use of Limit of Servicer's Liability Clause in Contracts

Limit of Servicer's Liability. The Servicer shall have no obligation to indemnify or in any way compensate or reimburse the Owner for losses due to the Owner's gross negligence, bad faith or willful misconduct under this Agreement, and, if the same is determined by an arbitrator or a court of competent jurisdiction from which no appeal is available, the Servicer shall be entitled to a direct reimbursement for indemnification payments previously made to the Owner under this Section 20 by the Servicer if such determination is made.

Limit of Servicer's Liability. The Servicer shall have no obligation to indemnify or in any way compensate or reimburse the Owner for losses due to the Owner's ’s gross negligence, bad faith or willful misconduct under this Agreement, and, if the same is determined by an arbitrator or a court of competent jurisdiction from which no appeal is available, the Servicer shall be entitled to a direct reimbursement for indemnification payments previously made to the Owner under this Section 20 by the Servicer if such determination is made.