Common use of RISK DISCLOSURE AND EXEMPTION FROM LIABILITY Clause in Contracts

RISK DISCLOSURE AND EXEMPTION FROM LIABILITY. (a) Any action which the Bank may or may not take pursuant to Instructions given by the Customer and/or its Authorised Persons will be solely for the account and risk of the Customer. The Bank will be under no liability whatsoever for any Losses that the Customer may suffer or incur howsoever arising as a result of or in connection with any action taken or for any failure to act on any Instructions given by the Customer and/or its Authorised Persons, except in cases involving wilful misconduct or gross negligence on the part of the Bank, any of its directors, officers, employees or agents. The Bank has no duty or responsibility to give notice of default or make demand for payment or take any other action with respect to any Investments as to which a default in payment has occurred. Without prejudice to the foregoing, the Bank shall not be liable for any Losses, loss or diminution in the value of any property or Investments as a result of, arising from or in connection with any Investment made by the Bank in good faith pursuant to Instructions given by the Customer and/or its Authorised Persons and without fraud on the part of the Bank or any of its directors, officers, employees or agents.

RISK DISCLOSURE AND EXEMPTION FROM LIABILITY. (a) Any action which the Bank may or may not take pursuant to Instructions given by the Customer and/or its Authorised Persons will be solely for the account and risk of the Customer. The Bank will be under no liability whatsoever for any Losses that the Customer may suffer or incur howsoever arising as a result of or in connection with any action taken or for any failure to act on any Instructions given by the Customer and/or its Authorised Persons, except in cases involving wilful misconduct or gross negligence on the part of the Bank, any of its directors, officers, employees or agents. The Bank has no duty or responsibility to give notice of default or make demand for payment or take any other action with respect to any Investments as to which a default in payment has occurred. Without prejudice to the foregoing, the Bank shall not be liable for any Losses, loss or diminution in the value of any property or Investments as a result of, arising from or in connection with any Investment made by the Bank in good faith pursuant to Instructions given by the Customer and/or and/ or its Authorised Persons and without fraud on the part of the Bank or any of its directors, officers, employees or agents.