Technical and Financial Responsibility Clause Samples

Technical and Financial Responsibility. The Third Party shall provide all personnel, facilities, equipment and materials necessary for the proper perfor- ▇▇▇▇▇ of this Third Party Agreement and shall assume the technical and financial responsibility for the work specified in Appendix 1. The Third Party undertakes to indemnify ▇▇▇▇▇▇▇ University and/or other members of ELE 2 project consortium against any failure on its part to discharge its aforementioned responsibilities.
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Technical and Financial Responsibility. THE SHIPYARD: 5.1.1 It shall ensure that all the works the SHIP YARD will do or get done either in the SHIP YARD or outside for the building and delivery as per the provisions of the contract are complete. In the event of defective or incomplete works, it shall fix and/or complete and/or rebuild and then deliver these works at its own expense as per the Technical Specifications, principles of the Project and Class and the provisions of the Contract. The SHIP YARD shall not demand an additional period in this case. 5.1.2 The SHIP YARD shall be responsible for all the faults and defects of the ship or parts arising from faulty workmanship and/or defective and incorrect materials (except from the materials supplied by the Ship Owner). If the Ship Owner detects any fault or defect during the building, he will inform the authorities of the SHIP YARD as soon as possible. The SHIP YARD shall accept, declare and guarantee to remove the fault or defect detected concerning its primary financial liability. 5.1.3 The SHIP YARD shall launch the ship slipping at its own expense when it is ready.
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Related to Technical and Financial Responsibility

  • Financial Responsibility You understand that you remain, solely and exclusively responsible for any and all financial risks, including, without limitation, insufficient funds associated with accessing the Service. The Credit Union shall not be liable in any manner for such risk unless Credit Union fails to follow the procedures described in materials for use of the service. You assume exclusive responsibility for the consequences of any instructions you give to the Credit Union, for your failures to access the Service properly in a manner prescribed by the Credit Union, and for your failure to supply accurate input information, including, without limitation, any information contained in an application.

  • Financial Responsibilities The acceptance of a Project Agreement creates a legal duty on the part of the Grantee’s organization to use the funds made available in accordance with the terms and conditions of the Grant. Note: Authority cited: Sections 5001.5 and 5003, Public Resources Code. Reference: Sections 5090.32 and 5090.50, Public Resources Code.