Common use of Liability of the Bank Clause in Contracts

Liability of the Bank. Without prejudice to the other provisions of these General Conditions the Bank shall be liable if any shortcoming in the performance of any obligation vis-a-vis the Customer is imputable to the Bank or attributable to the Bank by virtue of the law, any legal act or generally prevailing views. In any case, insofar as liability is not already excluded by operation of the law, the Bank shall not be liable if a shortcoming of the Bank is the result of: - international conflicts; - violent or armed actions; - measures taken by any domestic, foreign or international government authority; - measures taken by any supervisory authority; - labour disturbances among the staff of third parties or the Bank's own staff; - power failures or breakdowns in communication links or equipment or software of the Bank or of third parties. Should any circumstance referred to in the preceding paragraph occur, then the Bank shall take such measures as may reasonably be required from it in order to reduce the resulting adverse effects for the Customer.

Appears in 3 contracts

Samples: Credit Agreement (FreeSeas Inc.), Credit Agreement (FreeSeas Inc.), Credit Agreement (FreeSeas Inc.)

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Liability of the Bank. Without prejudice to the other provisions of these General Conditions the Bank shall be liable if any shortcoming in the performance of any obligation vis-aà-vis the Customer is imputable to the Bank or attributable to the Bank by virtue of the law, any legal act or generally prevailing views. In any case, insofar as liability is not already excluded by operation of the law, the Bank shall not be liable if a shortcoming of the Bank is the result of: - international -international conflicts; - violent -violent or armed actions; - measures -measures taken by any domestic, foreign or international government authority; - measures -measures taken by any supervisory authority; -boycotts; - labour disturbances among the staff of third parties or the Bank's own staff; - power failures or breakdowns in communication links or equipment or software of the Bank or of third parties. Should any circumstance referred to in the preceding paragraph occur, then the Bank shall take such measures as may reasonably be required from it in order to reduce the resulting adverse effects for the Customer.

Appears in 2 contracts

Samples: Credit Agreement (Interface Inc), Credit Agreement (Interface Inc)

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Liability of the Bank. Without prejudice to the other provisions of these General Conditions the Bank shall be liable if any shortcoming in the performance of any obligation vis-a-vis the Customer is imputable to the Bank or attributable to the Bank by virtue of the law, any legal act or generally prevailing views. In any case, insofar as liability is not already excluded by operation of the law, the Bank shall not be liable if a shortcoming of the Bank is the result of: - international conflicts; - violent or armed actions; - measures taken by any domestic, foreign or international government authority; - measures taken by any supervisory authority; - – boycotts; – labour disturbances among the staff of third parties or the Bank's ’s own staff; - power failures or breakdowns in communication links or equipment or software of the Bank or of third parties. Should any circumstance referred to in the preceding paragraph occur, then the Bank shall take such measures as may reasonably be required from it in order to reduce the resulting adverse effects for the Customer.

Appears in 1 contract

Samples: Credit Agreement (FreeSeas Inc.)

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