WCL Clause Samples
The WCL (Waiver of Consequential Loss) clause serves to limit the liability of parties by excluding claims for consequential or indirect losses arising from a contract. In practice, this means that if one party breaches the agreement, the other party cannot seek compensation for losses that are not a direct result of the breach, such as lost profits or business opportunities. This clause is commonly used to provide certainty and manage risk exposure, ensuring that liability is restricted to direct damages and preventing potentially large, unforeseeable claims.
WCL. (i) On the Closing Date, WCL shall purchase the WCL Interest from the Issuer for the purchase price thereof of $100,000,000.
(ii) On the Closing Date, WCL shall enter into the Issuer Trust Agreement and each other Transaction Document to which it is a party and that has not previously been entered into by it.
WCL a) assigns High Performance Coordinator, or their designate, as the Designated Contact for the Athlete;
b) will ensure that the Designated Contact, the Designated Assistant Contact or an alternate WCL staff person at the WCL office is available for communication each business day WCL is open for business;
c) will communicate both orally and in writing in the official Canadian language of the Athlete’s choice;
d) will communicate in a timely manner, using appropriate methods such as telephone, email, SMS, text or video messaging, or other methods, taking into consideration the preferred nature of the communication and the Athlete’s expressed communication preferences; and
e) will respond in a timely fashion.