Common use of Other Limitations of Liability Clause in Contracts

Other Limitations of Liability. A Party is not liable in respect of any Claim (other than a Claim under clause 9.1(a) or 9.2(a)) for any Loss to the extent that: (a) the Loss arises out of anything done or omitted to be done in accordance with the terms of any Transaction Document or with the prior written approval of: (i) in respect to USG Claims, USG; or (ii) in respect to Boral Claims, Boral; or (b) the Loss arises from any of the following after the date of this Agreement; (i) the enactment or amendment of any legislation, regulations or other Legal Requirement; (ii) a change in the judicial or administrative interpretation of any Legal Requirement; or (iii) a change in the practice or policy of any Regulatory Authority; (c) the Loss would not have arisen but for a change after Completion in any accounting policy or practice of any member of the Joint Venture Group, any USG Contributed Entity, any Boral Joint Venture or: (i) in the case of USG Claims, any member of the USG Group; and (ii) in the case of Boral Claims, and member of the Boral Group, that (in each case) applied before Completion; (d) the Loss is remediable, provided that: (i) in the case of USG Claims, it is remedied at the cost of the Boral Group to the satisfaction of USG, acting reasonably, within 60 days after the relevant Claimant Party gives written notice of the Claim under clause 11.1; and (ii) in the case of Boral Claims, it is remedied at the cost of the USG Group to the satisfaction of Boral, acting reasonably, within 60 days after the relevant Claimant Party gives written notice of the Claim under clause 11.1; or (e) the Loss is Consequential Loss, provided that this will not prevent recovery of Loss by the Claimant Party to the extent such Loss comprises costs associated with monitoring and ensuring compliance with anti-corruption or anti-bribery measures as required by any applicable law, regulation or regulator (including for avoidance of doubt the United States Foreign Corrupt Practices ▇▇▇ ▇▇▇▇ and the Securities and Exchange Commission) resulting from the matter giving rise to the relevant Claim.

Appears in 1 contract

Sources: Share Sale and Subscription Agreement (Usg Corp)

Other Limitations of Liability. A Party is not liable in respect of any Claim (other than a Claim under clause 9.1(a) or 9.2(a)) for any Loss to the extent that: (a) the Loss arises out of anything done or omitted to be done in accordance with the terms of any Transaction Document or with the prior written approval of: (i) in respect to USG Claims, USG; or (ii) in respect to Boral Claims, Boral; or (b) the Loss arises from any of the following after the date of this Agreement; (i) the enactment or amendment of any legislation, regulations or other Legal Requirement; (ii) a change in the judicial or administrative interpretation of any Legal Requirement; or (iii) a change in the practice or policy of any Regulatory Authority; (c) the Loss would not have arisen but for a change after Completion in any accounting policy or practice of any member of the Joint Venture Group, any USG Contributed Entity, the Boral Joint Venture, any Boral USG Joint Venture or: (i) in the case of USG Claims, any member of the USG Group; and (ii) in the case of Boral Claims, and member of the Boral Group, that (in each case) applied before Completion; (d) the Loss is remediable, provided that: (i) in the case of USG Claims, it is remedied at the cost of the Boral Group to the satisfaction of USG, acting reasonably, within 60 days after the relevant Claimant Party gives written notice of the Claim under clause 11.1; and (ii) in the case of Boral Claims, it is remedied at the cost of the USG Group to the satisfaction of Boral, acting reasonably, within 60 days after the relevant Claimant Party gives written notice of the Claim under clause 11.1; or (e) the Loss is Consequential Loss, provided that this will not prevent recovery of Loss by the Claimant Party to the extent such Loss comprises costs associated with monitoring and ensuring compliance with anti-corruption or anti-bribery measures as required by any applicable law, regulation or regulator (including for avoidance of doubt the United States Foreign Corrupt Practices ▇▇▇ ▇▇▇▇ and the Securities and Exchange Commission) resulting from the matter giving rise to the relevant Claim.

Appears in 1 contract

Sources: Share Sale and Subscription Agreement (Usg Corp)