Respective Liabilities Sample Clauses
The 'Respective Liabilities' clause defines and allocates the individual responsibilities and obligations of each party under a contract. It clarifies which party is liable for specific actions, omissions, or breaches, and may outline the extent of each party's financial or legal exposure. For example, it might specify that each party is responsible for its own employees or for damages arising from its own negligence. This clause ensures that liability is clearly divided, reducing the risk of disputes and providing certainty about who bears responsibility in various scenarios.
Respective Liabilities of the Depositor and the ---------------------------------------------------------------------- Servicer. --------- The Depositor and the Servicer shall each be liable in accordance herewith only to the extent of the obligations specifically and respectively imposed upon and undertaken by them herein.
Respective Liabilities of the Depositor and the Master ------------------------------------------------------ Servicer. -------- The Depositor and the Master Servicer shall each be liable in accordance with this Agreement only to the extent of the obligations specifically and respectively imposed upon and undertaken by them in this Agreement.
Respective Liabilities of the Depositor and the Master ----------------------------------------------------------- Servicer. --------- The Depositor and the Master Servicer shall each be liable in accordance herewith only to the extent of the obligations specifically and respectively imposed upon and undertaken by the Depositor and the Master Servicer herein. By way of illustration and not limitation, the Depositor is not liable for the master servicing and administration of the Mortgage Loans, nor is it obligated by Section 8.01 to assume any obligations of the Master Servicer or to appoint a designee to assume such obligations, nor is it liable for any other obligation hereunder that it may, but is not obligated to, assume unless it elects to assume such obligation in accordance herewith.
Respective Liabilities. The Parties agree that the establishment of the Charter School shall have no affect on the liability of either Party, other than those obligations specifically undertaken by the respective Parties under this Agreement.
Respective Liabilities