Common use of MATERIAL AND IMMATERIAL DAMAGE Clause in Contracts

MATERIAL AND IMMATERIAL DAMAGE. A. GRTgaz and the Shipper shall be liable, in executing their respective obligations under the Contract, for any direct material loss that they may cause to installations belonging to the other Party or which this other Party has in its custody as well as any direct immaterial loss suffered by the other Party. The liability of each of the Parties under the terms of this Sub-clause is, however, limited to the limits defined in Sub-clause 16.2.3 of Section A. Consequently, each of the Parties waives all rights to bring any claim against the other for such damage in excess of the said limits.