Common use of Assumption of Liability Clause in Contracts

Assumption of Liability. Borrower shall indemnify, defend, and hold UNAVCO harmless, and shall be solely responsible, for the full cost of repair or replacement of any of the Equipment that is damaged, lost, confiscated, or stolen from the time it leaves UNAVCO until it is returned to UNAVCO. It is Borrower’s responsibility to comply with all US customs and export laws and regulations, and directly pay any and all costs, fee, taxes and penalties in the exportation or importation of the Equipment in its care and custody. It shall be Borrower’s duty, at its own expense, to comply with all country, federal, state, county, and municipal laws, ordinances, and regulations, if any, applicable to the work being performed with this Equipment and to secure all local, state, federal, and international licenses or permits required to use this Equipment.