Liability and Obligation Clause Samples
The 'Liability and Obligation' clause defines the responsibilities and legal accountability of each party under the agreement. It typically outlines what each party is required to do, the extent of their duties, and the circumstances under which they may be held liable for damages or breaches. For example, it may specify who is responsible for losses resulting from negligence or failure to perform contractual duties. This clause is essential for allocating risk between the parties and ensuring that each understands their commitments and potential exposures under the contract.
Liability and Obligation. Except for residents of Quebec, each owner of a joint account is jointly and severally responsible for all obligations of the joint account. For residents of Quebec, each holder of a joint account is liable for the performance of all obligations owed to us in respect of the account and performance of such obligations by one such holder of a joint account releases all other holders from their obligations.
Liability and Obligation. 1. The Parties to this Agreement shall perform each article hereof based on the principle of good faith.
2. If the Affiliate shall have such relationship with the Principal Contractor as described in each of the following. Otherwise, it shall provide documents showing consent from the Board of Directors, etc.
a. The Principal Contractor is the parent company that has a 100% ownership stake in the Affiliate b. Same business group/affiliate as defined in Item 11 and 12 of Article 2 of the Monopoly Regulation and Fair Trade Act
3. In the case of a change in the relationship between the Affiliate and the Principal Contractor described in the foregoing paragraph 2, the Principal Contractor and the Affiliate shall immediately notify it to the Bank. The Bank shall review the relationship between the Principal Contractor and the Affiliate, as well as required documents, to check if they are still eligible for the Service. The Bank may request additional documents, if necessary, to continue the Service or suspend it.
4. The Bank may check the qualification of the Affiliate as described in the foregoing paragraph 2 when collecting consent to the provision of information. If it is deemed that the relationship between the Principal Contractor and the Affiliate has changed from the time of application, the Bank may suspend the Service by notice to the Principal Contractor and the Affiliate.
5. The Principal Contractor and the Affiliate shall guarantee the authenticity of documents submitted to the Bank. And the Bank shall confirm their authenticity by using ordinary care and make the Service hereunder to be available to the customer.
6. In the case that the Principal Contractor has handled the transactions specified in article 3 and article 4 in accordance with article 7, the Affiliate shall consider it as if they were handled by itself, and shall not raise any objection to the Bank.
7. In the case that there is any scope of usage for electronic banking transactions (transfer limit, minimum required balance and more) which is separately set by the Affiliate and the Principal Contractor, the Bank, regardless of this, may consider that the Affiliate has given the Principal Contractor full power to conduct inquiry, withdrawal, and payment.
8. The Principal Contractor shall take proper measures as described below in order to minimize the risks its employees may face while using the Service.
a. The Principal Contractor shall establish a multi-level approval system for trans...
Liability and Obligation. Responsibilities shall be allocated as follows:
a. It is agreed between the Chamber and Nueces County Development Commission that the Chamber shall be responsible to CAEL under the Agreement for the performance of all obligations to be performed under the Agreement prior to the Assignment Date. The Chamber shall indemnify, defend, and hold harmless Nueces County Development Commission from all claims, liabilities, losses, and expenses (including reasonable attorneys’ fees) arising as a result of the Chamber’s breach of its representations or warranties or its action or inaction in regard to its obligations under the Agreement arising prior to the Assignment Date; and
b. It is agreed between the Chamber and Nueces County Development Commission that Nueces County Development Commission shall be responsible to CAEL for the performance of all obligations to be performed under the Agreement from and after the Assignment Date. Nueces County Development Commission shall indemnify, defend, and hold harmless the Chamber from all claims, liabilities, losses, and expenses (including reasonable attorneys’ fees) arising as a result of the Nueces County Development Commission’s breach of its representations or warranties action or inaction in regard to its obligations under the Agreement arising from or after the Assignment Date.
Liability and Obligation. Except as specifically set forth in paragraph II.C.1. of this Agreement, this Agreement shall not release ACSC from any liability or obligation imposed by Minnesota statutes, rules, permits or local ordinances now in effect or which may be adopted in the future.
Liability and Obligation. 乙方应依据本协议条款和仓储与物流服务条款履行协议责任和义务。