Common use of Reduction of Liability Clause in Contracts

Reduction of Liability. The liability of Champion Regal in respect of any claim under this Agreement is reduced or extinguished (as the case may be) to the extent that: (a) the subject matter of any claim is provided for in the Accounts or the Management Accounts; or (b) except as otherwise provided in clause 9.14(c), the claim occurs or is increased as a result of legislation not in force or in effect at the date of this Agreement; or (c) except as otherwise provided in clause 9.14(c), the claim occurs as a result of a change after the date of this Agreement in any law or interpretation of law and administrative practice of a government or regulatory body; or (d) any act or omission of Valspar after the Closing Date, committed or effected outside the ordinary course of business and which is inconsistent with the Group’s past practice in the knowledge that such act or omission would reasonably give rise to or increase the extent of a claim under this Agreement (but the reduction under this clause 9.12(d) only relates to the extent the claim is increased).