Reciprocal Waiver of Recourse Sample Clauses

A Reciprocal Waiver of Recourse clause establishes that both parties agree not to pursue legal claims or seek compensation from each other beyond what is expressly provided in the contract. In practice, this means that if a dispute arises or a loss occurs, neither party can hold the other liable for damages or remedies outside the agreed contractual framework. This clause is commonly used in financial or insurance agreements to limit liability and prevent protracted litigation. Its core function is to allocate risk clearly between the parties and provide certainty by restricting recourse to only those remedies specified in the contract.
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Reciprocal Waiver of Recourse. The LESSEE expressly waives, and shall have its insurer waive, any recourse against the LESSOR and its insurers because of the destruction or deterioration of all or part of the equipment, furnishings, and any values and goods whatsoever, due to deprivation or disturbance of enjoyment of the Premises and even in case of total or partial loss of business assets, including intangible elements. Conversely, the LESSOR expressly waives, and shall have its insurer waive, any recourse they are entitled to exercise against the LESSEE and its insurers.
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Reciprocal Waiver of Recourse. The Lessee waives the right to any recourse that it may exercise against the Lessor, its principals or representatives, or its insurers. It agrees to obtain the same waiver from its insurers, any of its occupants and their insurers, and to indemnify the Lessor for the direct or indirect consequences of any claim or legal action that its occupants, employees and/or insurers may frame or bring against the Lessor, including all costs and expenses that the Lessor may incur when exercising its rights. Reciprocally, the Lessor, its principles and representatives waive the right to any recourse against the Lessee and against its insurers. They agree to obtain the same waiver from their insurers.
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Related to Reciprocal Waiver of Recourse

  • Termination and Waiver of Rights of First Refusal The rights of first refusal established by this Section 4 shall not apply to, and shall terminate upon the earlier of (i) the effective date of the registration statement pertaining to the Company’s Initial Offering or (ii) an Acquisition. Notwithstanding Section 5.5 hereof, the rights of first refusal established by this Section 4 may be amended, or any provision waived with and only with the written consent of the Company and the Major Investors holding a majority of the Registrable Securities held by all Major Investors, or as permitted by Section 5.5.

  • RELEASE AND WAIVER OF LIABILITY YOU HEREBY WAIVE, RELEASE, COVENANT NOT TO SUE AND FOREVER DISCHARGE BLUE CHIP AND ALL OTHER PERSONS ASSOCIATED WITH THE EVENT, FOR ALL LIABILITIES, CLAIMS, ACTIONS, OR DAMAGES THAT YOU MAY HAVE AGAINST THEM ARISING OUT OF OR IN ANY WAY CONNECTED WITH YOUR REGISTRATION AND/OR PARTICIPATION IN THE EVENT, INCLUDING WITHOUT LIMITATION ANY LIABILITIES, CLAIMS, ACTIONS, OR DAMAGES CAUSED BY NEGLIGENCE OF THE ABOVE PARTIES (INCLUDING ANY NEGLIGENT RESCUE ATTEMPT), THE ACTION OR INACTION OF ANY OF THE ABOVE PARTIES, OR OTHERWISE. BLUE CHIP, ITS SUBSIDIARIES, AFFILIATES, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, PARTNERS AND LICENSORS SHALL NOT BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES, INCLUDING, BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES (EVEN IF BLUE CHIP HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), RESULTING FROM: (A) THE USE OR THE INABILITY TO USE THE BLUE CHIP SITES, PRODUCTS OR SERVICES;

  • Non-Waiver of Rights The omission by either party at any time to enforce any default or right reserved to it, or to require performance of any of the terms, covenants, or provisions hereof by the other party at the time designated, shall not be a waiver of any such default or right to which the party is entitled, nor shall it in any way affect the right of the party to enforce such provisions thereafter.

  • Waiver of Liability Seller hereby waives, acquits, and forever releases, and agrees to defend and hold harmless, the Agency, its officer(s), director(s), employee(s), contractor(s), associate(s), and representative(s) from any responsibility or liability whatsoever concerning any photos or videos generated from the Photographic Services or their distribution.

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