No Effect on Liability Clause Samples
The "No Effect on Liability" clause clarifies that certain actions, such as the termination or expiration of an agreement, do not eliminate or reduce any liabilities or obligations that have already accrued under the contract. In practice, this means that if a party has incurred debts, breached terms, or otherwise become responsible for something before the contract ends, those responsibilities remain enforceable even after the agreement concludes. This clause ensures that parties cannot escape accountability for their actions or obligations simply because the contract has ended, thereby protecting the interests of the non-breaching party and maintaining fairness.
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No Effect on Liability. In the event Mortgagee (a) releases any part of the security described herein or any person liable for any indebtedness secured hereby; (b) grants one or more renewals, modifications or extensions of any Note for any period or periods of time; (c) takes other or additional security for the payment thereof; or (d) waives or fails to exercise any right granted herein or in any Note, said act or omission shall not release Mortgagor, subsequent purchasers of the Mortgaged Premises or any part thereof, or makers, guarantors or sureties of this Mortgage or of any Note, under any covenant of this Mortgage or of the Notes or the Credit Agreement, nor preclude Mortgagee from exercising any rights, power or privilege herein granted or intended to be granted in the event of any default then made or any subsequent default.
No Effect on Liability. None of (i) the consummation of the transactions contemplated by this Agreement or the Related Agreements, (ii) the delay or omission of any party to exercise any of its rights under this Agreement or any Related Agreement or (iii) any investigation or disclosure that any party makes, any notice that any party gives, or any knowledge that any party obtains as a result thereof, or otherwise, shall (A) affect the liability of the parties to one another for Breaches (defined below) of this Agreement or any Related Agreement or (B) prevent any party from relying on the representations or warranties contained in this Agreement or any Related Agreement.
No Effect on Liability. None of (i) the consummation of the Transactions, (ii) the delay or omission of any party to exercise any of its rights under this Agreement or (iii) any investigation or disclosure that any party makes, any notice that any party gives, or any knowledge that any party obtains as a result thereof, or otherwise, shall (x) affect the liability of the parties to one another for breaches of their covenants contained in this Agreement, (y) affect the liability of the parties to one another for misrepresentation under this Agreement, or (z) prevent any party from relying on the representations contained in this Agreement.
No Effect on Liability. Without affecting the liability of any other Person liable with respect to the Obligations and without affecting the lien or charge of the Mortgage upon any portion of the Premises not then or theretofore released as security for the Obligations, Lender may from time to time and without notice (a) release any Person so liable, (b) extend the maturity or alter any of the terms of any of the Obligations, (c) grant other indulgences, (d) release or reconvey, or cause to be released or reconveyed, any parcel, portion or all of the Premises, (e) take or release any other or additional security for any Obligation, or (f) make compositions or other arrangements with debtors in relation thereto. No sale of the Premises shall in any way affect the liability of any party to the Note, or any Person liable or to become liable with respect to the Obligations. The defenses of impairment of Collateral and impairment of recourse and any requirement of diligence on Lender's part in collecting the Obligations are hereby waived.
No Effect on Liability. In the event Lender: (a) releases any part of the security described herein or any person liable for any of the Indebtedness; (b) grants one or more renewals, modifications or extensions of the Note for any period or periods of time; (c) takes other or additional security for the payment thereof; or (d) waives or fails to exercise any right granted herein or in the Note, said act or omission shall not release the Trustor, subsequent purchasers of the Trust Property or any part thereof, or makers, guarantors or sureties of this Deed of Trust or of the Note, under any covenant of this Deed of Trust or of the Note or Loan Documents, nor preclude Lender from exercising any rights, powers or privileges herein granted or intended to be granted in the event of any default then made or any subsequent default.
No Effect on Liability. The requirement that the Contractor, Subcontractors or General Contractor furnish certain minimum insurance coverages is not to be interpreted as in any way limiting the liability of the Contractor or General Contractor as the case may be, nor does either party, by furnishing or requiring evidence of certain minimum insurance, assume, or intend to assume, any liability that it would not otherwise have in the absence of such a requirement.
No Effect on Liability. The subscription by the Project Company for insurance policies required hereby shall not affect the liability of the Project Company under any indemnity provisions of this Agreement, however, NEPCO undertakes (subject to the rights of the Lenders which shall in all cases take precedence) to seek, if and to the extent so applicable, satisfaction from the relevant insurance policy first and may only if and to the extent such insurance provides no or not sufficient coverage, hold, to the extent applicable and as contemplated in this Agreement or by law, the Project Company liable.
No Effect on Liability. None of (i) the consummation of the Transactions, or (ii) the delay (except for such delays that would result in prejudice to the indemnifying party) or omission of any party to exercise any of its rights under this Agreement or any Related Agreement, or (iii) any investigation or disclosure that any party makes, any notice that any party gives, or any knowledge that any party obtains as a result thereof, or otherwise (other than with respect to disclosure made in, or knowledge obtained from, this Agreement, the Disclosure Schedules or the Related Agreements), shall (A) affect the liability of the parties to one another for Breaches of this Agreement or any Related Agreement or (B) prevent any party from relying on the representations or warranties contained in this Agreement or any Related Agreement.
No Effect on Liability. The insurance amounts indicated in clause 2 are minimum requirements that do not limit the Contractor’s liability and these amounts are not to be construed as Client’s consent to be liable in excess of these amounts set forth.
No Effect on Liability. The requirement that Contractor or Owner furnish certain minimum insurance coverage is not to be interpreted as in any way limiting the liability of Contractor, or Owner as the case may be, nor does either party, by furnishing or requiring evidence of certain minimum insurance, assume, or intend to assume, any liability that it would not otherwise have in the absence of such a requirement. EXHIBIT P List of Approved Subcontractors ====================================================================================================== MAJOR EQUIPMENT SUPPLIERS AND SUBCONTRACTORS ------------------------------------------------------------------------------------------------------ EQUIPMENT VENDOR ------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------ Air Dryers Zum Lectrodryer ▇▇▇▇▇▇▇▇ Pneumatic Products Corp. ------------------------------------------------------------------------------------------------------ Air Compressors Sull-Air Ingersoll-▇▇▇▇ ▇▇▇▇▇▇▇ Denver Atlas Copco Joy ------------------------------------------------------------------------------------------------------ Architectural ▇.▇. ▇▇▇▇▇▇ ------------------------------------------------------------------------------------------------------ Batteries & Chargers Exide GNB CND Solidstate Controls Alcad Saft-American ------------------------------------------------------------------------------------------------------ Boiler Feed Pumps Goulds Pumps, Inc. Ingersoll-Dresser KSB Pumps, Inc. ▇▇▇▇▇ ▇▇▇▇▇▇▇ Sulzer ▇▇▇▇▇▇▇ ------------------------------------------------------------------------------------------------------ Building Construction ▇▇▇▇▇▇▇▇▇ PSI ▇▇▇ ▇▇▇▇▇▇▇▇ Corp. ▇▇ ▇▇▇▇▇ & Sons Hill Brothers Four F Corp. ------------------------------------------------------------------------------------------------------ Bus Duct ▇▇▇▇▇▇▇ Control Power Limited Delta-Unibus CPC Square D ABB Power T&D, Inc. EXHIBIT P List of Approved Subcontractors ====================================================================================================== MAJOR EQUIPMENT SUPPLIERS AND SUBCONTRACTORS ------------------------------------------------------------------------------------------------------ EQUIPMENT VENDOR ------------------------------------------------------------------------------------------------------ --------------------------------------------...