LIABILITIES IN THE EVENT OF TERMINATION Sample Clauses
The 'Liabilities in the Event of Termination' clause defines the responsibilities and financial obligations of each party if the contract is ended before its natural completion. Typically, this clause outlines which costs, fees, or damages must be paid, such as outstanding payments for work performed, reimbursement of expenses, or penalties for early termination. Its core function is to ensure both parties understand their respective duties and potential exposures upon termination, thereby reducing disputes and providing clarity on the consequences of ending the agreement.
LIABILITIES IN THE EVENT OF TERMINATION. The termination of this Agreement will in no way limit any obligation or liability of any party based on or arising from a breach or default by such party with respect to any of its representations, warranties, covenants or agreements contained in this Agreement including, but not limited to, legal and audit costs and out of pocket expenses.
LIABILITIES IN THE EVENT OF TERMINATION. In the event of any termination of this Agreement in accordance with Section 7.1, this Agreement (except for the provisions of this Section 7.2 and Sections 8.1, 9.1, 9.2, 9.6, 9.9, 9.10, 9.13 and 9.14) shall become null and void and of no further force and effect and there shall be no liability or obligation hereunder on the part of any party as a result of such termination; provided that notwithstanding any such termination, each party shall be liable to the other parties for any Losses arising from any breach of this Agreement by such party prior to such termination. The Buyer further agrees that in the event of termination of this Agreement in accordance with Section 7.1, unless required by the applicable law or any competent regulatory authorities or stock exchanges, it shall, and shall cause its agents, representatives, Affiliates, employees, officers and directors to treat and hold as confidential (and not disclose, use for its own benefit, or provide access to any Person) all information relating to Intellectual Property and all other confidential or proprietary information of the Company and its Subsidiaries, except for the information publicly available or available to these parties from other sources without breaching any confidentiality obligation to the Seller or its Affiliates.
LIABILITIES IN THE EVENT OF TERMINATION. In the event of any termination of this Agreement in accordance with Section 7.1, this Agreement (except for the provisions of this Section Execution copy August 6, 2007
LIABILITIES IN THE EVENT OF TERMINATION. Upon the termination of this Agreement none of the parties hereto shall have any obligation or liability to any other party (except for obligations arising under SECTION 11 hereof) unless such termination results from the willful or intentional failure of any party to perform any of its obligations hereunder which performance was within such party's reasonable control at a reasonable cost. In such case, without limiting the non-breaching party's otherwise available legal or equitable remedies, the non-performing party shall be liable for any and all damages arising from a breach or default by such party with respect to any of its representations, warranties, covenants or agreements contained in this Agreement including, but not limited to, legal and audit costs and out of pocket expenses.
LIABILITIES IN THE EVENT OF TERMINATION