Limitation of Responsibility for Budgets Clause Samples

Limitation of Responsibility for Budgets a. All budgets are intended only to be reasonable estimates based on Manager’s best business judgment and Manager shall not be liable or responsible in any event if any of the budgeted figures are not attained or there is any variance between the actual revenues and expenditures and the amounts set forth in any budgets. Owner acknowledges that Manager has not made any guarantee, warranty or representation of any nature concerning or related to the amounts of Gross Revenue to be generated and Operating Expenses to be incurred from the operation of the Facility during the Term of this Agreement. b. In the event that following the second full fiscal year of operation of the Facility, any of the following shall occur: (i) [*****]; or (ii) [*****]; Then [*****].
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Limitation of Responsibility for Budgets. All budgets are intended only to be estimates. Operator shall not be liable or responsible in any event if any of the budgeted figures are not attained or there is any variance between the actual revenues and expenditures and the amounts set forth in any budgets. Subject to adherence to a reasonable good faith standard, to the fullest extent legally permitted, NYRA does hereby release and exculpate Operator and Operator’s Affiliates and their employees, officers, agents, directors and legal representatives from any and all liabilities, claims, damages and actions of whatsoever kind or nature arising directly or indirectly from or out of: (i) any variance between actual revenues and expenditures and the amounts set forth in any of the budgets, (ii) budgets prepared by third party companies, and (iii) any of the budgets to be prepared or submitted under the terms of this Agreement. NYRA acknowledges that Operator has not made any guarantee, warranty or representation of any nature concerning or related to the amounts of Gross Revenue and Operating Expenses to be generated or incurred from the operation of the Project during the Term by Operator. Nothing herein shall release Operator from liability for willful misrepresentation or deliberate misfeasance or malfeasance with respect to such budgets.
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Related to Limitation of Responsibility for Budgets

  • Limitation of Responsibility Notwithstanding any other provisions ---------------------------- hereof, Committee Members shall be liable to the parties only for actions constituting bad faith, gross negligence or breach of an express provision of this Agreement (so long as such breach remains uncured after ten (10) days of receiving notice of the nature of such breach). In all other respects, Committee Members shall not be liable for negligence or mistakes of judgment.

  • Allocation of Responsibility The City assumes no responsibility for the tax consequences of any VEBA contributions made by or on behalf of any member. Each union that elects to require VEBA contributions for the benefit of its members assumes sole responsibility for insuring that the VEBA complies with all applicable laws, including, without limitation, the Internal Revenue Code, and agrees to indemnify and hold the City harmless for any taxes, penalties and any other costs and expenses resulting from such contributions.

  • Allocation of Responsibilities The persons responsible for the Plan and the duties and responsibilities allocated to each are as follows:

  • Delegation of Responsibilities The Advisor is authorized to delegate any or all of its rights, duties and obligations under this Agreement to one or more sub-advisors, and may enter into agreements with sub-advisors, and may replace any such sub-advisors from time to time in its discretion, in accordance with the 1940 Act, the Advisers Act, and rules and regulations thereunder, as such statutes, rules and regulations are amended from time to time or are interpreted from time to time by the staff of the Securities and Exchange Commission ("SEC"), and if applicable, exemptive orders or similar relief granted by the SEC and upon receipt of approval of such sub-advisors by the Board of Trustees and by shareholders (unless any such approval is not required by such statutes, rules, regulations, interpretations, orders or similar relief).

  • RESPONSIBILITY FOR AWARDS The Supplier acknowledges that each Contracting Body is independently responsible for the conduct its award of Call-Off Contracts under this Framework Agreement and that the Authority is not responsible or accountable for and shall have no liability whatsoever in relation to: 6.1 the conduct of Other Contracting Bodies in relation to this Framework Agreement; or 6.2 the performance or non-performance of any Call-Off Contracts between the Supplier and Other Contracting Bodies entered into pursuant to this Framework Agreement.