Common use of Compensation and Limitation of Liability Clause in Contracts

Compensation and Limitation of Liability. If the management party fails to operate and maintain the power assets according to the Trusteeship Management Power Assets Agreement or violates other obligations of the agreement, the management party shall compensate for the actual loss of the entrusting party in full. If the loss is partly due to the fault of the entrusting party, the compensation liability of the management party shall be limited to fault portion of the management party in accordance with the fault ratio. If any claim, loss or expenses arise on the part of the management party as a result of the ownership or use right of the entrusting party in relation to the Trusteeship Management Power Assets/sites or the wilful or negligent act of the entrusting party or the employees of its agents, the entrusting party shall compensate the management party in full. The entrusting party shall ensure that the management party shall be compensated for all the environmental liability incurred in production and business activities as a result of the non- compliance with the environmental regulations by the installation of the Trusteeship Management Power Assets unless the liability is due to the fraud or gross negligence of the management party.

Appears in 1 contract

Samples: www.hpi-ir.com.hk

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Compensation and Limitation of Liability. If the management party fails to operate and maintain the power assets according to the Trusteeship Entrusted Management Power Assets Agreement or violates other obligations of the agreement, the management party shall compensate for the actual loss of the entrusting party in full. If the loss is partly due to the fault of the entrusting party, the compensation liability of the management party shall be limited to fault portion of the management party in accordance with the fault ratio. If any claim, loss or expenses arise on the part of the management party as a result of the ownership or use right of the entrusting party in relation to the Trusteeship Entrusted Management Power Assets/sites or the wilful or negligent act of the entrusting party or the employees of its agents, the entrusting party shall compensate the management party in full. The entrusting party shall ensure that the management party shall be compensated for all the environmental liability incurred in production and business activities as a result of the non- compliance with the environmental regulations by the installation of the Trusteeship Entrusted Management Power Assets unless the liability is due to the fraud or gross negligence of the management party.

Appears in 1 contract

Samples: www.hpi-ir.com.hk

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Compensation and Limitation of Liability. If the management party fails to operate and maintain the power coal assets according to the Trusteeship Entrusted Management Power Coal Assets Agreement or violates other obligations of the agreement, the management party shall compensate for the actual loss of the entrusting party in full. If the loss is partly due to the fault of the entrusting party, the compensation liability of the management party shall be limited to fault portion of the management party in accordance with the fault ratio. If any claim, loss or expenses arise on the part of the management party as a result of the ownership or use right of the entrusting party in relation to the Trusteeship Entrusted Management Power Coal Assets/sites or the wilful or negligent act of the entrusting party or the employees of its agents, the entrusting party shall compensate the management party in full. The entrusting party shall ensure that the management party shall be compensated for all the environmental liability incurred in production and business activities as a result of the non- compliance with the environmental regulations by the installation of the Trusteeship Entrusted Management Power Coal Assets unless the liability is due to the fraud or gross negligence of the management party.

Appears in 1 contract

Samples: www.hpi-ir.com.hk

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