EXONERATION CLAUSE Clause Samples
An exoneration clause is a contractual provision that limits or eliminates one party's liability for certain acts or omissions. Typically, this clause applies to situations where a party, such as a trustee or service provider, seeks to protect themselves from being held responsible for losses or damages arising from actions taken in good faith or without gross negligence. By including an exoneration clause, the contract aims to allocate risk and provide assurance to the protected party, thereby encouraging their participation or service without fear of undue legal exposure.
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EXONERATION CLAUSE. A. This Lease is executed by the undersigned, LaSalle Bank National Association, not personally, but as Trustee in the exercise of the power and authority conferred upon and vested in it as such Trustee and under the express direction of the beneficiaries of the said Trust. It is expressly understood and agreed that all of the warranties, indemnities, representations, covenants, undertakings and agreements herein made on the part of the Trustee are undertaken by it solely in its capacity as Trustee and not personally. No personal liability or personal responsibility is assumed by or shall at any time be asserted or enforceable against the Trustee on account of any warranty, indemnity, representation, covenant, undertaking or agreement of the Trustee in this instrument.
B. Tenant agrees to look solely to Landlord's interest in the Property, or the lease of the Building or of the Property, and the Premises, for the satisfaction of any right or remedy of Tenant for the collection of a judgment (or other judicial process) requiring the payment of money by Landlord, in the event of any liability by Landlord, and no other property or assets of Landlord or Landlord's Affiliates shall be subject to levy, execution, attachment, or other enforcement procedure for the satisfaction of ▇▇▇▇▇▇'s remedies under or with respect to this Lease, the relationship of Landlord and Tenant hereunder, or ▇▇▇▇▇▇'s use and occupancy of the Premises, or any other liability of Landlord or Landlord's Affiliates to Tenant.
EXONERATION CLAUSE. This Seventh Amendment is executed by the undersigned, American National Bank and Trust Company of Chicago, not personally, but as Trustee in the exercise of the power and authority conferred upon and vested in it as such Trustee and under the express direction of the beneficiaries of the said Trust. It is expressly understood and agreed that all of the warranties, indemnities, representations, covenants, undertakings and agreements herein made on the part of the Trustee are undertaken by it solely in its capacity as Trustee and not personally. No personal liability or personal responsibility is assumed by or shall at any time be asserted or enforceable against the Trustee on account of any warranty, indemnity, representation, covenant, undertaking or agreement of the Trustee in this instrument.
EXONERATION CLAUSE. 13.1. The following circumstances are considered circumstances in full discharge if they arise after the conclusion of the contract and if they prevent the execution of it: labour disputes and all other circumstances such as fire, mobilisation, requisition, embargo, prohibition of the transfer of currencies, riots, lack of means of transport, general shortage of raw material, restriction of energy consumption, etc... if these circumstances occur beyond the control of the parties.
13.2. The party that relies on one of the circumstances mentioned above, has to inform the other party immediately and in writing of the commencement and the ending of them. The occurrence of one of these circumstances relieves both the seller and VCST-IP of all liability.
13.3. The consequences of the circumstances mentioned, insofar as they influence the timely fulfilment of the obligations of the parties, are defined in articles 7 and 9. If, however, because of these circumstances the fulfilment of the contract within reasonable time becomes impossible, each one of the parties has the right to end the contract in writing and without judicial intervention.
13.4. In the event that the contract ends by virtue of article 13.3., the division of the costs, already made in order to fulfil the contract, shall be amicably settled between the parties.
13.5. If the parties cannot settle disputes amicably, it will be for the court to determine which party was prevented from meeting its obligations. If the court finds that only one party did not fulfil its obligations, all the costs mentioned above will be borne by this party solely. If it is up to VCST-IP to bear all these costs and if VCST-IP, before the ending of the contract, has already paid the seller y more than the actual costs, VCST-IP has the right to a reimbursement of the difference. If the court finds that both parties were in default, then it will divide the costs between the parties reasonably after due consideration of all circumstances.
13.6. In the sense of this article, the term 'costs' comprises the actual and reasonable expenses, after both parties have reduced their damage as much as possible. With regard to the goods delivered to VCST-IP, the expense of the seller shall be deemed to be the part of the price to be paid in respect of the goods delivered.
13.7. If, because of force majeure or liquidation, no further deliveries should be possible, the seller is obliged to make available all the drawings, tools, gauges, in...
EXONERATION CLAUSE. In consideration of the benefits accruing hereunder, Tenant and all successors and assigns of Tenant covenant and agree that, anything contained herein to the contrary notwithstanding, the obligations under this Lease do not constitute personal obligations of the agents or individual partners, directors, officers or shareholders of Landlord, on the partners, directors, officers or shareholders of the partners or beneficiaries of Landlord. Any claim based on or in respect of any liability of Landlord under this Lease shall be enforced only against thee Building and not against any other assets, properties or funds of:
(i) Landlord or any director, officer, general partner, limited partner, employee or agent of Landlord or its general partners (on any legal representative, heir, estate, successor or assign thereof; (ii) any predecessor or successor partnership on corporation (or other entity) of Landlord omits general partners, either directly or through Landlord or its predecessor or successor partnership or corporation (or other entity) of Landlord or its general partners; and (iii) any other person or entity. Furthermore, in time case of any foreclosure by any Mortgagee, the rights amid remedies of Tenant hereunder in respect of any obligations of any such successor to Landlord hereunder shall be non-recourse as to any assets of such successor to Landlord other than to the equity In time Building. Tenant further agrees that each of the foregoing provisions shall be applicable to any covenant or agreement either expressly contained in this Lease or imposed by statute or at common law. Tenant's covenants and agreements contained in this Paragraph 28 are enforceable both by Landlord amid also by army partner or beneficiary of Landlord.
EXONERATION CLAUSE. Should any legislation, court decision or ruling of any state insurance department or other applicable Law render any provision of this Contract unlawful, it is mutually agreed that any changes in this Contract as may be necessary shall be made without loss, damage or other expense to Company. Any provision of this Contract which is prohibited, unenforceable or not authorized in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition, enforceability or non-authorization without invalidating the remaining provisions hereof or affecting the validity, enforceability or legality of such provision in any other jurisdiction.
EXONERATION CLAUSE. This Eleventh Amendment is executed by the ------------------ undersigned, LaSalle Bank, N.A., as successor trustee to American National Bank and Trust Company of Chicago, not personally, but as Trustee in the exercise of the power and authority conferred upon and vested in it as such Trustee and under the express direction of the beneficiaries of the said Trust. It is expressly understood and agreed that all of the warranties, indemnities, representations, covenants, undertaking sand agreements herein made on the part of the Trustee are undertaken by it solely in its capacity as Trustee and not personally. No personal liability or personal responsibility is assumed by or shall at any time be asserted or enforceable against the Trustee on account of any warranty, indemnity, representation, covenant, undertaking or agreement of the Trustee in this instrument.
EXONERATION CLAUSE. The Trustee shall be and hereby is absolved and exonerated from any individual responsibility or liability for any loss which may result to any property passing under this Trust or otherwise than under this Trust, or which may result to any person in connection with the exercise or non-exercise of the powers, authority or elections granted to the Trustee under this Trust or conferred by law so long as the Trustee shall have been acting in good faith and without gross negligence.
EXONERATION CLAUSE. In consideration of the benefits accruing hereunder, Tenant and all successors and assigns of Tenant covenant and agree that, anything contained herein to the contrary notwithstanding, the obligations under this Lease do not constitute personal obligations of the agents or individual partners, directors, officers or shareholders of Landlord, on the partners, directors, officers or shareholders of the partners or beneficiaries of Landlord. Any claim based on or in respect of any liability of Landlord under this Lease shall be enforced only against thee Building and not against any other assets, properties or funds of:
(i) Landlord or any director, officer, general partner, limited partner, employee or agent of Landlord or its general partners (on any legal representative, heir, estate, successor or assign thereof; (ii) any predecessor or successor partnership on corporation (or other entity) of Landlord omits general partners, either directly or through Landlord or its predecessor or successor partnership or corporation (or other entity) of Landlord or its general partners; and (iii) any other person or entity. Furthermore, in time case of any foreclosure by any Mortgagee, the rights amid remedies of Tenant hereunder in respect of any obligations of any such successor to Landlord hereunder shall be non-recourse as to any assets of such successor to Landlord other than to the equity In time Building. Tenant further agrees that each of the foregoing provisions shall be applicable to any covenant or agreement either expressly contained in this Lease or imposed by statute or at common law. Tenant's covenants and agreements contained in this Paragraph 28 are enforceable both by Landlord amid also by army partner or beneficiary of Landlord.