Loss suffered Clause Samples
The 'Loss suffered' clause defines how losses incurred by a party are identified and addressed under the agreement. Typically, it outlines the types of losses that are recoverable, such as direct financial damages, and may specify exclusions like indirect or consequential losses. This clause ensures that both parties have a clear understanding of what constitutes a compensable loss, thereby reducing disputes and allocating risk more predictably in the event of a breach or other adverse event.
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Loss suffered. The Recipient acknowledges and agrees that the Confidential Information is, by virtue of its special nature, valuable property of the Disclosing Party and that the Disclosing Party may suffer damage or loss by any disclosure by the Recipient of the Confidential Information.
Loss suffered. Each party (referred to as the “Offending Party”) agrees to reimburse the other party for any loss it suffers as a direct result of: A breach by the Offending Party of its obligations under these Standard Terms or a Funding Agreement; and Personal injury or death of any person caused by the Offending Party or others working with or for it in connection with a Project.