Common use of Sole Obligation Clause in Contracts

Sole Obligation. PRI’s sole obligation to CLIENT hereunder is to perform the services agreed upon, exercising the same degree of care used in processing items and data for its own use. PRI shall not be liable for the insolvency, neglect, misconduct, mistake or default of any other bank, corporation or person. In no event shall PRI be liable for any loss, destruction, mutilation, damage or theft, resulting from any cause whatsoever, of any data, entries, or items, except those resulting from the willful misconduct, gross negligence or fraudulent act of Prior its employees.

Sole Obligation. PRI’s 's sole obligation to CLIENT hereunder is to perform the services agreed upon, exercising the same degree of care used in processing items and data for its own use. PRI shall not be liable for the insolvency, neglect, misconduct, mistake or default of any other bank, corporation or person. In no event shall PRI be liable for any loss, destruction, mutilation, damage or theft, resulting from any cause whatsoever, of any data, entries, or items, except those resulting from the willful misconduct, gross negligence or fraudulent act of Prior PRI or its employees.