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 coal assets according to the Entrusted Management 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 Entrusted Management 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 Entrusted Management 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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Compensation and Limitation of Liability. If the management party fails to operate and maintain the coal power assets according to the Entrusted Trusteeship Management Coal 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 Entrusted Trusteeship Management Coal 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 Entrusted Trusteeship Management Coal 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 coal power assets according to the Entrusted Management Coal 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 Entrusted Management Coal 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 Entrusted Management Coal 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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