Allocation of Risks Clause Samples
The Allocation of Risks clause defines how potential risks and liabilities are distributed between the parties involved in an agreement. It typically specifies which party is responsible for certain types of losses, damages, or unforeseen events, such as property damage, third-party claims, or delays. By clearly assigning responsibility for various risks, this clause helps prevent disputes and ensures that each party understands their obligations, thereby promoting fairness and predictability in the contractual relationship.
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Allocation of Risks. The parties desire, to the extent permitted by law, to allocate certain risks of personal injury, bodily injury and property damage, and risks of loss of real or personal property by reason of fire, explosion or other casualty, and to provide for the responsibility for insuring those risks. It is the intent of the parties that, to the extent any event is insured for or required herein to be insured for, any loss, cost, damage or expense arising from such event, including, without limitation, the expense of defense against claims or suits, be covered by insurance, without regard to the fault of Lessee, its officers, employees or agents ('Lessee Protected Parties'), and without regard to the fault of Lessor, its respective partners, shareholders, members, agents, directors, officers and employees ('Lessor Protected Parties'). As between Lessor Protected Parties and Lessee Protected Parties, such risks are allocated as follows:
(a) Lessee shall bear the risk of bodily injury, personal injury or death, or damage to the property, of third persons, occasioned by events occurring on or about the leased premises, regardless of the party at fault. Said risks shall be insured as provided in Section 6.2(a); and 6
(b) Lessee shall bear the risk of damage to the improvements on the leased premises and to Lessee's contents, trade fixtures, machinery, equipment, furniture and furnishings in the leased premises arising out of loss by the events required to be insured against pursuant to Sections 6.2(b), (d) and (e). Notwithstanding the foregoing, provided Lessee does not default in its obligation to carry insurance under Section 6.2(a), if and to the extent that any loss occasioned by any event of the type described in Section 6.1(a) exceeds the coverage or the amount of insurance required to be carried under said Section or such greater coverage or amount of insurance as is actually carried, or results from an event not required to be insured against or not actually insured against, the party at fault shall pay the amount not actually covered.
Allocation of Risks. The limitation of liability set forth in this Article 8 reflects a deliberate and bargained for allocation of risks between Distributor and Manufacturer and is intended to be independent of any exclusive remedies available under this Agreement, including any failure of such remedies to achieve their essential purpose.
Allocation of Risks. 3.1 The Project Team shall carry out, complete and populate the Project Risk Register to identify:
3.1.1 potential risks relating to the delivery of the Project, the occurrence of which are capable of adversely affecting the time for completion, cost or quality of the Project;
3.1.2 the probability of these risks occurring;
3.1.3 a financial estimate of the most likely consequences of each risk occurring; and
3.1.4 the actions agreed to be taken to mitigate, manage or remove each risk and the individual responsible for reporting on the progress of the actions agreed.
3.2 The Project Team shall regularly update and amend the Project Risk Register (seeking the assistance of other Project Participants as considered appropriate) and shall arrange regular meetings with the Client and members of the Project Team to review and update the Project Risk Register and to consider:
3.2.1 any new risks that have arisen since the date of the last review;
3.2.2 the steps taken to prevent/mitigate previously identified risks;
3.2.3 risks which have been successfully prevented/mitigated (which can be removed from the Project Risk Register); and
3.2.4 the prioritisation of all continuing risks and agreement of an action plan in respect of, and risk owners for, all risks prioritised as serious risks.
Allocation of Risks. 6.1. ENGINEER shall Indemnify CLIENT from Claims caused by ENGINEER's Negligence To the fullest extent permitted by law, ENGINEER shall indemnify and hold harmless CLIENT, CLIENT's officers, directors, partners, and employees from and against any and all costs, losses and damages (including but not limited to reasonable attorneys’ fees and all court or other dispute resolution costs) arising from claims by third parties, to the extent caused by the negligent acts, errors or omissions of ENGINEER or ENGINEER's officers, directors, partners, employees, agents and ENGINEER's Consultants in the performance and furnishing of ENGINEER's services under this Agreement.
6.2. CLIENT shall Indemnify ENGINEER from Claims caused by CLIENT's Negligence To the fullest extent permitted by law, CLIENT shall indemnify and hold harmless ENGINEER, ENGINEER's officers, directors, partners, and employees and ENGINEER's Consultants from and against any and all costs, losses and damages (including but not limited to reasonable attorney’ fees and court or other dispute resolution costs) arising from claims by third parties, to the extent caused by the negligent acts, errors or omissions of CLIENT or CLIENT's officers, directors, partners, employees, agents and CLIENT's consultants with respect to this Agreement or the Project.
6.3. CLIENT shall Indemnify ENGINEER from Claims caused by Hazardous Waste In addition to the indemnity provided under Paragraph 6.2 of this Schedule, and to the fullest extent permitted by law, CLIENT shall indemnify and hold harmless ENGINEER and its officers, directors, partners, and employees and ENGINEER's Consultants from and against all claims, costs, losses, and damages (including but not limited to reasonable attorneys’ fees and court or other dispute resolution costs) caused by, arising out of or relating to the presence, discharge, release or escape of Asbestos, PCBs, Petroleum, Hazardous Waste, or Radioactive Material at, on, under or from the Project site.
Allocation of Risks. This Limited Warranty allocates the risks of failure of the Products between Inventronics and Buyer. This allocation is recognized by both parties and is reflected in the price of the Products. Buyer acknowledges that it has read this Limited Warranty, understands it and agrees to be bound by its terms. This Limited Warranty extends to the original Buyer only.
Allocation of Risks. 1. The Company does not make any representations or give any warranties to the Customer with regard to the availability, quality, speed, functioning, precision, dependability, continuous operation or otherwise concerning the Customer’s use of the Service and the Service is provided “as is” and “as available”. Interruptions, disruptions and other issues with the Service or with the equipment used by the Customer may result in the loss of data by the Customer or by the Company. In no event whatsoever, will the Company be liable to the Customer for loss of data or any resulting economic loss or damage.
2. The Company does not make any representations or give any warranties that the Service conforms with any descriptions that the Company has provided, or that the Service will be free from any errors or flaws.
3. The Company does not assume any responsibility for any loss or harm that the Customer may incur with the exception of any loss or harm that results from a breach by the Company of its obligations as an Authorized Person under the Authorized Persons Regulations. Specifically, the Company will not be responsible for any loss or additional expenses (if it is not proved that the cause of these losses or additional expenses was a breach by the Company of its obligations as an Authorized Person) for any:
a. Communication, system or equipment breakdown, or a technical flaw, whether complete or partial.
b. Fraud or dishonesty.
c. Any harm suffered by or as a result of circumstances outside the control of the Company.
4. The Company is not responsible for any loss or damage incurred by the Customer as a result of any of the dangers or risks disclosed in the internet Dangers Disclosure Statement.
5. The Company does not bear, under any circumstances, any legal responsibility to the Customer or any third party for any harm of any type resulting from the Customer’s use of the Service or the Customer’s inability to use the Service including any delay or disruption in the transmission of the Service regardless of the form of such harm whether or not the Company was notified of the possibility of the
Allocation of Risks. A. Client acknowledges that even with accomplishment of Geotechnical and Subsurface Investigations, it is impossible to determine the exact composition of subsurface conditions, and that the risk and costs of addressing such necessarily are born solely by the Client.
1. To the fullest extent permitted by law, Client shall indemnify and hold harmless Engineer, Engineer’s officers, directors, partners, employees, and Engineer’s consultants from and against any and all costs, losses, and damages (including but not limited to all fees and charges of engineers, architects, attorneys, and other professionals, and all court or arbitration or other dispute resolution costs) caused solely by the negligent acts or omissions of Client or Client’s officers, directors, partners, employees, and Client’s consultants with respect to this Agreement or the Project.
2. To the fullest extent permitted by law, Engineer’s total liability to Client and anyone claiming by; through; or under Client for any cost, loss, or damages caused in part by the negligence of Engineer and in part by the negligence of Client or any other negligent entity or individual, shall not exceed the percentage share that Engineer’s negligence bears to the total negligence of Client, Engineer, and all other negligent entities and individuals.
3. In addition to the indemnity provided under paragraph 6.09.A.1 of this Agreement, and to the fullest extent permitted by law, Client shall indemnify and hold harmless Engineer and its officers, directors, partners, employees, and Engineer’s Consultants from and against all costs, losses, and damages (including but not limited to all fees and charges of engineers, architects, attorneys, and other professionals, and all court or arbitration or other dispute resolution costs) caused by, arising out of or resulting from a Hazardous Environmental Condition, provided that (i) any such cost, loss, or damage is attributable to bodily injury, sickness, disease, or death, or to injury to or destruction of tangible property (other than completed Work), including the loss of use resulting there from, and (ii) nothing in this paragraph 6.09.A.3 shall obligate Client to indemnify any individual or entity from and against the consequences of that individual’s or entity’s own negligence or willful misconduct.
Allocation of Risks. Correspondent acknowledges and agrees that the fees charged by Apex. reflect the allocation of risks including, but not limited to. any limitation of liability set forth in this Agreement. A modification of the allocation of risks set forth in this Agreement would affect the fees charged by Apex, and in consideration of such fees, Correspondent agrees to such allocation of risks.
Allocation of Risks. The parties desire, to the extent permitted by -------------------- law, to allocate certain risks of personal injury, bodily injury or property damage, and risks of loss of real or personal property by reason of fire, explosion or other casualty, and to provide for the responsibility for insuring those risks. It is the intent of the parties that, to the extent any event is insured for or required herein to be insured for, any loss, cost, damage or expense arising from such event, including, without limitation, the expense of defense against claims or suits, be covered by insurance, or by the party required to obtain insurance in the event such party defaults in its obligation to do so, without regard to the fault of Tenant, its officers, employees, agents, contractors or invitees ("Tenant Protected Parties"), and without regard to the fault of Landlord, its agents, their respective partners, shareholders, members, agents, directors, officers, contractors and employees ("Landlord Protected Parties"). As between Landlord Protected Parties and Tenant Protected Parties, such risks are allocated as follows:
(i) Tenant shall bear the risk of bodily injury, personal injury or death, or damage to the property of third persons, occasioned by events occurring on or about the Premises, regardless of the party at fault. Said risks shall be insured as provided in subsection 14(b)(i). -------------------
(ii) Landlord shall bear the risk of bodily injury, personal injury or death, or damage to the property of third persons, occasioned by events occurring on or about the Property (other than the Premises or premises leased to other tenants) regardless of the party at fault. Said risk shall be insured against as provided in subsection 14(c)(i). -------------------
(iii) Tenant shall bear the risk of damage to Tenant's contents, trade fixtures, machinery, equipment, furniture and furnishings in the Premises arising out of loss by the events required to be insured against pursuant to subsection 14(b)(ii). ---------------------
(iv) Landlord shall bear the risk of damage to the Building and common areas arising out of loss by events required to be insured against pursuant to subsection 14(c)(ii). --------------------- Notwithstanding the foregoing, provided the party required to carry insurance under subsection 14 (b)(i) or subsection 14 (c)(i) hereof does --------------------- -------------------- not default in its obligation to do so, if and to the extent that any loss o...
Allocation of Risks. Introducing Firm acknowledges and agrees that the fees charged by Clearing Agent reflect the allocation of risks including, but not limited to, any limitation of liability set forth in this Agreement. A modification of the allocation of risks set forth in this Agreement would affect the fees charged by Clearing Agent, and in consideration of such fees, Introducing Firm agrees to such allocation of risks.