Common use of Compensation for Damage Clause in Contracts

Compensation for Damage. (a) The Receiving Party is aware that any breach of the obligations stipulated in this Article 7 (Protection of Confidential Information) could cause irreparable harm to the Disclosing Party. The Parties agree that the Receiving Party is liable to, and is obliged to compensate, the Disclosing Party for any and all potential damage and, furthermore, any intangible damage incurred by the Disclosing Party as a result of breach of the obligations under Article 7 (Protection of Confidential Information) by the Receiving Party; (i) the obligations hereunder 7 (Protection of Confidential Information), as well as (ii) the obligations stipulated by the legal regulations regarding the protection of Confidential Information. The Parties agree that any compensation for damage under this Article 7 (Protection of Confidential Information) shall be provided in money.

Appears in 3 contracts

Samples: General Terms and Conditions Of, General Terms and Conditions Of, General Terms and Conditions

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Compensation for Damage. (a) The Receiving Party is aware that any breach of the obligations stipulated in this Article 7 (Protection of Confidential Information) could cause irreparable harm to the Disclosing Party. The Parties agree that the Receiving Party is liable to, and is obliged to compensate, the Disclosing Party for any and all potential damage and, furthermore, any intangible damage incurred by the Disclosing Party as a result of breach of the obligations under Article 7 (Protection of Confidential Information) by the Receiving Party; (i) the obligations hereunder 7 (Protection of Confidential Information), as well as (ii) the obligations stipulated by the legal regulations regarding the protection of Confidential Information. The Parties agree that any compensation for damage under this Article 7 (Protection of Confidential Information) shall be provided in money.

Appears in 1 contract

Samples: General Terms and Conditions

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