Common use of Responsibility For Use Clause in Contracts

Responsibility For Use. (a) BNYM shall have no liability or responsibility for any Loss of Company caused in whole or in part by Company's use of the Licensed Rights or Licensed System or by data or information of any nature inputted into the Licensed System by Company; provided, however, this Section 2.3 shall not relieve BNYM of its obligation to act in accordance with the Standard Of Care with respect to the services described in Section 3 of the Main Agreement. Company shall be responsible and solely liable for the cost or expense of regenerating any output if Company shall have failed to transmit properly and in the correct format any data or information, shall have transmitted erroneous or incorrect information or data, or shall have failed to verify timely any such data or information in accordance with Section 2.3 when it is generated by the System ("Data Faults"). (b) Company warrants that the data transmitted by Company will not disrupt, disable, harm, or otherwise impede in any manner the operation of the Licensed System or any associated software, firmware, hardware, or BNYM computer system or network.