Common use of Material Damage Clause in Contracts

Material Damage. The Operator shall bear the cost of any material damage that it may cause to the Shipper during the marketing of the Small-Scale LNG Carrier Loading Service and the Small-Scale LNG Carrier Specific Services, which are the subject of the Contract, up to a limit of two million five hundred thousand (2,500,000) euros per event. The Shipper and its insurers waive any recourse against the Operator and its insurers, beyond this limit, in respect of the said damage. The Terminal Operator shall bear the cost of any material damage that it may cause to the Small-Scale LNG Carrier in the context of the performance of its obligations under the Contract up to a limit of one hundred and fifty million (150,000,000) Euros per event. Consequently, the Shipper and its insurers waive any recourse against the Terminal Operator and its insurers above this limit and guarantee the Terminal Operator and its insurers against any recourse by third parties to the Contract and in particular, where applicable, by the owner and/or operator of the Small-Scale LNG Carrier (Shipowner, Charterer, etc.), in respect of the said damage. The Shipper shall bear the cost of material damage caused to the Terminal in the context of the performance of its obligations under the Contract, regardless of who caused the said material damage and in particular the Vessel Operator, the Charterer, the Captain, the Authorities and the Port Services, up to a limit of one hundred and fifty million (150,000,000) Euros per event and under the conditions specified in Article 20.2.2 "Material damage" of the ATM Contract. Consequently, the Terminal Operator and its insurers waive any recourse against the Shipper and its insurers beyond this limit in respect of the said damage.