Liability for Losses Clause Samples
The "Liability for Losses" clause defines which party is responsible for compensating damages, losses, or expenses that may arise during the course of an agreement. Typically, this clause outlines the scope and limitations of liability, specifying whether liability is capped, excluded for certain types of losses (such as indirect or consequential damages), or subject to exceptions like gross negligence or willful misconduct. By clearly allocating financial responsibility, this clause helps manage risk between the parties and provides predictability in the event of a dispute or unforeseen loss.
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Liability for Losses. Subject to the limitations and exclusions of liability in this Agreement, the Custodian will be liable for Losses suffered or incurred by the Client to the extent such Losses are caused by the negligence, wilful default, or fraud of the Custodian in the performance of its obligations under this Agreement. The parties agree that “negligence” will mean a breach by the Custodian of its obligation to exercise the standard of care described in Section 17.1 above.
Liability for Losses. Securitas’ liability for Customer Losses and any other liability under this Agreement shall be limited as set out in this Article. The Customer acknowledges that the Service Fee reflects Securitas’ assessment of the risks and exposures based on information provided by the Customer and that the Agreement and the Scope of Work is conditioned upon the fact that Securitas’ liability in this Agreement is limited as provided herein.
Liability for Losses. The Custodian will be liable for the Client's direct damages resulting from failure of the Custodian to meet its standard of care under this Section. In addition, the Custodian will be liable for the Client's direct damages resulting from the failure of any Subcustodian, Administrative Support Provider or their nominee to meet its standard of care under this Section; provided, however the liability of the Custodian for direct damages does not include any loss of Securities or Cash resulting solely by reason only of the liquidation or insolvency of any Subcustodian or Administrative Support Provider so long as the Custodian has met its standard of care provided in this Section. Under no circumstances will the Custodian be liable to the Client for special or punitive damages, or consequential loss or damage, or any lost profits, goodwill, business opportunity or business revenue in relation to this Agreement, whether or not the relevant loss was foreseeable, or that the Custodian, its delegates or its agent were advised of the possibility of such loss or damage.
Liability for Losses. Once I have requested and first used the Debit Card, except as expressly provided in this Agreement, I will be liable for all authorized and unauthorized uses of the Debit Card by any person up to my established withdrawal limit (including funds accessible through a line of credit or overdraft privilege), prior to the expiry or cancellation of the Debit Card. However, in the event of alteration of my Account balance due to technical problems, card issuer errors and system malfunctions, I will be liable only to the extent of any benefit I have received, and will be entitled to recover from the Credit Union any direct losses I may have suffered. I acknowledge that I will co-operate with my Credit Union in any investigation. I will not be held responsible for losses that occur due to circumstances beyond my control providing there was nothing that I reasonably could have done to prevent the losses. My Credit Union will not be liable to me for any action or failure to act of a Merchant or refusal by a Merchant to honour the Debit Card, whether or not such failure or refusal is the result of any error or malfunction of a device used to effect or authorize the use of the Debit Card for a Point-of-Sale transaction. I understand that I must not use my Debit Card, for any unlawful purpose, including the purchase of goods and services, prohibited by local law applicable in my jurisdiction.
Liability for Losses. BCM shall not be liable for any losses incurred as the result of an action for infringement brought against LICENSEE as the result of LICENSEE’s exercise of any right granted under this Agreement. The decision to defend or not defend shall be in LICENSEE’s sole discretion.
Liability for Losses. 14.1 If you are a Micro-enterprise or Charity, you must call us as soon as you notice an unauthorised payment has been taken from your account. We’ll refund the amount of the unauthorised payment as soon as we reasonably can, and, in any event, before the end of the Business Day after you tell us, unless any of the following apply:
(a) you tell us more than 13 months after the payment was made;
(b) we can prove that you acted fraudulently; If you’ve acted fraudulently, you’ll be responsible for all payments from your account.
(c) we can prove that the unauthorised payment was made because of your gross negligence; or If you’ve been grossly negligent, you’ll be responsible for all payments from your account until you’ve told us that the payment device or security details have been lost or stolen, or you suspect misuse. An example of gross negligence would be knowingly giving your card and PIN or your online security credentials to someone else.
(d) we can prove that the unauthorised payment was made because the payment device was lost or stolen or we can show you failed to keep your security details safe. In this case you’ll be liable for any unauthorised payments made before you tell us about the security breach up to a maximum of £35 and we’ll reduce the refund by this amount. You may not be liable in some other circumstances too – for example, you won’t be responsible for any unauthorised payment if we don’t apply procedures that we’re legally required to use to check a payment has been authorised by you.
14.2 If you are not a Micro-enterprise or Charity and you or a cardholder tell us you have not authorised a payment transaction or you claim it was not correctly executed, then provided you can prove this and have notified us of the disputed transaction within 13 months of it being made, we will immediately refund the amount of the payment transaction to you. If applicable, we’ll also restore the account to the state it would have been in had the unauthorised payment transaction not taken place.
14.3 We are not responsible for cash machines we don’t own, or if any person, bank, retailer or other supplier does not accept your card as payment.
14.4 We are not responsible for any losses caused by abnormal and unforeseeable circumstances beyond our (or our agents’ and/or subcontractors’) control if the consequences would have been unavoidable despite our efforts to the contrary.
14.5 You will be responsible for any loss or cost (including the cost of arrear...
Liability for Losses. Except to the extent provided in Section 7.1, the Security Trustee in its individual capacity shall not be liable for any loss relating to an investment made in accordance with instructions received by it pursuant to this Section 10. The Borrower will promptly pay to the Security Trustee, on demand, the amount of any loss for which the Security Trustee is not liable realized as the result of any such investment (together with any fees, commissions and other expenses, if any, incurred in connection with such investment).
Liability for Losses. The Custodian will be liable for the Client’s direct damages resulting from failure of the Custodian to meet its standard of care under this Section or a Citi employee, contractor or agent has breach any internal Citi policy related to the delivery of services under the Agreement. In addition, the Custodian will be liable for the Client’s direct damages resulting from the failure of any Subcustodian, Administrative Support Provider or their nominee, agent or delegate to meet its standard of care under this Section; provided, however the liability of the Custodian for direct damages does not include any loss of Securities or Cash resulting solely by reason only of the liquidation or insolvency of any Subcustodian or Administrative Support Provider so long as the Custodian has met its standard of care provided in this Section. Under no circumstances will either party be liable to the other party for special or punitive damages, or consequential loss or damage, or any lost profits, goodwill, business opportunity or business revenue in relation to this Agreement, whether or not the relevant loss was foreseeable, or that the party its delegates or its agent were advised of the possibility of such loss or damage.
Liability for Losses. Each Party shall be liable to the other Party for any Losses incurred by the other Party as a result of the first Party's non-performance of, non-compliance with or breach of its representations and warranties, covenants, undertakings or obligations under this Contract.
Liability for Losses. Neither LANDLORD nor TENANT shall be liable to the other for any loss or damage from risks ordinarily insured against under fire insurance policies with extended-coverage endorsements, irrespective of whether such loss or damage results from their negligence or that of any of their agents, servants, employees, licensees, or contractors to the extent that such losses are covered by valid and collectable insurance on the property at the time of loss.