Consequential Effects Clause Samples

The Consequential Effects clause defines the responsibilities and outcomes that follow from a party's actions or breaches under the agreement. Typically, it clarifies whether a party is liable for indirect damages, such as lost profits or reputational harm, that result from a breach or other specified events. By outlining the scope of liability for consequential damages, this clause helps allocate risk between the parties and prevents disputes over the extent of recoverable losses.
Consequential Effects. (a) The following provisions shall apply to the Occupied Part as from the Date of Practical Completion in respect of the Occupied Part until the completion of the remainder of the Works: (i) Release to the Contractor in the next Interim Certificate after the date of the Employer’s possession of the Occupied Part of a proportion of the first half of the Retention Monies under Clause 42 in respect of the Occupied Part, based upon the total value of the Occupied Part relative to the value of the whole of the Works. (ii) The provisions of Clause 27 (Defects After Completion) shall apply as if the Occupied Part was the subject of a separate and distinct contract between the Employer and the Contractor (iii) The Contractor may reduce the value of the Works insured under Clause 38A (if applicable) by the total value of the Occupied Part as from the Date Of Practical Completion of the Occupied Part, from which date the Contractor's obligations under Clauses 34 and 38A (if applicable) shall cease in relation to the Occupied Part (except for any outstanding works in the Occupied Part until such time as their completion by the Contractor has been certified by the Superintending Officer.) (iv) The rate of Liquidated Damages for delay pursuant to Clause 26 shall be reduced proportionately based upon the total value of the Occupied Part relative to the total value of the whole of the Works. (v) On the expiry of the Defects Liability Period of the Occupied Part or upon the issue of the Certificate of Making Good Defects of the Occupied Part, whichever is the later, the Contractor shall be paid the second half of the Retention Monies calculated on the same basis as the first half. The Limit of Retention under Clause 42.3 shall be reduced by the amount of Retention Monies so released under this Clause 23. (b) For the avoidance of doubt, nothing contained in sub-clause 23.2(a) shall entitle the Contractor to the release of the whole or any part of the Performance Security Deposit deposited by him pursuant to Option Module F (if applicable). The Performance Security Deposit (if applicable) shall be released or refunded only upon the issue of the Certificate of Practical Completion for the whole of the Works or in respect of the last section of the Works, as the case may be.
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Related to Consequential Effects

  • No Consequential or Punitive Damages Neither Party hereto (or any of their respective Affiliates) shall, under any circumstance, be liable to the other Party (or its Affiliates) for any consequential, exemplary, special, indirect, incidental or punitive damages claimed by such other Party under the terms of or due to any breach of this Agreement, including, but not limited to, loss of revenue or income, cost of capital, or loss of business reputation or opportunity.

  • Consequential Damages Neither party to this Agreement shall be liable to the other party for special, indirect or consequential damages under any provision of this Agreement or for any special, indirect or consequential damages arising out of any act or failure to act hereunder.

  • No Consequential Damages Other than the Liquidated Damages heretofore described and the indemnity obligations set forth in Article 18.1, in no event shall any Party be liable under any provision of this Agreement for any losses, damages, costs or expenses for any special, indirect, incidental, consequential, or punitive damages, including but not limited to loss of profit or revenue, loss of the use of equipment, cost of capital, cost of temporary equipment or services, whether based in whole or in part in contract, in tort, including negligence, strict liability, or any other theory of liability; provided, however, that damages for which a Party may be liable to another Party under separate agreement will not be considered to be special, indirect, incidental, or consequential damages hereunder.

  • Limitation on Consequential Damages In no event will the Collateral Custodian or any of their officers, directors, employees or agents be liable for any consequential, indirect, punitive or special damages regardless of the form of action and regardless of whether the Collateral Custodian or any of their officers, directors, employees or agents were warned of the possibility thereof in advance.

  • Consequential Losses Except as otherwise specifically provided herein, neither Party shall be liable to the other Party for any indirect, incidental or consequential loss or damages irrespective of the causes, thereof including fault or negligence.