Limited Liability of the Sample Clauses

Limited Liability of the. Company It is understood and agreed that: • the Company’s maximum liability to make payment of the Total Statutory Gratuity Benefit and the Extraordinary Gratuity Benefit the under this Master Policy in respect of all Members is the Fund Value; • if the Fund Value is insufficient to make payment of the Total Statutory Gratuity Benefit and the Extraordinary Gratuity Benefit the under this Master Policy for any reasons (such as, but not limited to non payment of past service Contributions, erosion of the Fund Value or large number of exits from the employment of the Employer), the Master Policyholder shall make payment in full of the additional Contribution required for the Company to pay the Gratuity Benefits under 6.1. The additional Contribution payable shall be calculated in accordance with the actuarial valuation certificate submitted to the Company by the Master Policyholder; • The Company shall not be considered to be in default in the performance of its obligations, or be liable in damages or otherwise to, any circumstances which are beyond the reasonable control of the Company and are not avoidable by the exercise of reasonable effort or foresight by the Company. Without limiting the generality of the foregoing, such circumstances shall include natural catastrophe, labour, industrial or civil disturbances, armed conflict, government regulations (whether or not valid), Acts of God, market conditions, and delays caused by other parties.
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Limited Liability of the. Company The liability of the Company in respect of any Accrued Gratuity of Members shall strictly be restricted to the balance lying in the Account Value of the Group Policy Holder. In case of insufficient funds in the Group Policy Holder’s Account to meet Accrued Gratuity liability of Members, for any reasons, including but not limited to • Non payment of past service contributions, • Erosion in value of the Fund, • Instances of large number of exits at one single point (e.g. by way of Voluntary Retirement Scheme of the Employer) The Group Policy Holder will be required to make additional payments into the Fund to enable the Company to pay such Accrued Gratuity amounts due to Members leaving the Service of the Employer. In any case including events such as the closure of the Employer’s business for any reason whatsoever, the Company shall be liable to pay only the amounts lying to the Credit of the Group Policy Holder’s Account Value after deducting charges and penalties, wherever applicable. The Company will not be considered in default in the performance of its obligations, or be liable in damages or otherwise to, any circumstances which are beyond the reasonable control of the Company and are not avoidable by the exercise of reasonable effort or foresight by the Company. Without limiting the generality of the foregoing, such circumstances will include natural catastrophe, labour, industrial or civil disturbances, armed conflict, government regulations (whether or not valid), Acts of God, market conditions, and delays caused by other parties. 8.12 Non participation This Group Policy is not entitled to participate in any distribution of surplus that may be declared by the Company. 8.13 Discharge A discharge given by the Group Policy Holder or on their behalf by any person duly authorized and in writing by the Group Policy Holder shall be a valid discharge to the Company in respect of any payment to be made under this Group Policy . 8.14
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Limited Liability of the. Company It is agreed and understood that: a) The Company’s maximum liability to make payment of the Policy Benefits under this Group Policy in respect of all Members is the Fund Value; b) If the Fund Value is insufficient to make payment of the total amount due for any reasons (such as, but not limited to erosion of the Fund Value or large number of exits from the employment of the Employer), the Group Policyholder shall make payment in full of the additional Contribution required for the Company to make payment of the Policy Benefits. The additional Contribution shall be calculated in accordance with the independent actuarial valuation certificate as per AS15 (revised). c) The Company shall not be considered to be in default in the performance of its obligations, or be liable in damages or otherwise, to any circumstances which are beyond the reasonable control of the Company and are not avoidable by the exercise of reasonable effort or foresight by the Company. Without limiting the generality of the foregoing, such circumstances shall include natural catastrophe, labour, industrial or civil disturbances, armed conflict, government regulations (whether or not valid), Acts of God, market conditions and delays caused by other parties.
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Limited Liability of the. Company The liability of the Company in respect of any payout in accordance of the Trust Deed or the Scheme Rules shall strictly be restricted to the available balance in all the Accounts pertaining to this Policy of the Group Policyholder. In case available balance in all the Accounts pertaining to this Group Policy is insufficient to meet the required Payout, including but not limited to Non payment of past service contributions, Erosion in value of the balance in all the Accounts pertaining to this Group Policy Instances of large number of exits at one single point (e.g. by way of Voluntary Retirement Scheme of the Employer) The Group Policyholder will be required to make additional payments into the Fund to enable the Company to pay such benefits Payout due to Members leaving the Service of the Employer. In any case including events such as the closure of the Employer’s business for any reason whatsoever, the Company shall be liable to pay only the amounts lying to the Credit of the available balance in all the Group Policyholder’s Accounts pertaining to this Policy after deducting charges and penalties, wherever applicable. 9.12 Discharge A discharge given by the Group Policyholder or on their behalf by any person duly authorized and in writing by the Group Policyholder shall be a valid discharge to the Company in respect of any payment to be made under this Group Policy. 9.13
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Related to Limited Liability of the

  • Limited Liability Except as otherwise provided by the Act, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and the Member shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a member of the Company.

  • The Limited Liability Company The Members have created a limited liability company: [NAME OF THE LLC] ("Company") and formed on the date of [FORMATION DATE] in the State of Washington D.C. (“Governing Law”). The operations of the Company shall be governed by the laws located in the State of Governing Law and in accordance with this Agreement as follows:

  • Limited Liability Company The Member intends to form a limited liability company and does not intend to form a partnership under the laws of the State of Delaware or any other laws.

  • Unlimited Liability Neither party will exclude or limit its liability for damages resulting from:

  • LIABILITY OF LIMITED PARTNERS Except as provided in the following sentence, notwithstanding the provisions hereof for the allocation of the Partnership’s net losses and for the distribution of cash to the Partners by the Partnership, the Limited Partners shall not be responsible or obligated to any third parties for any debts or liabilities of the Partnership in excess of such Limited Partner’s unrecovered contributions to the capital of the Partnership and such Limited Partner’s share of any undistributed profits of the Partnership.

  • Liability of City CITY’S PAYMENT OBLIGATIONS UNDER THIS AGREEMENT SHALL BE LIMITED TO THE PAYMENT OF THE COMPENSATION PROVIDED FOR IN SECTION 3.3.1, “PAYMENT,” OF THIS AGREEMENT. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, IN NO EVENT SHALL CITY BE LIABLE, REGARDLESS OF WHETHER ANY CLAIM IS BASED ON CONTRACT OR TORT, FOR ANY SPECIAL, CONSEQUENTIAL, INDIRECT OR INCIDENTAL DAMAGES, INCLUDING, BUT NOT LIMITED TO, LOST PROFITS, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR THE SERVICES PERFORMED IN CONNECTION WITH THIS AGREEMENT.

  • Liability of Trustee In exercising the rights and powers of the Trustee, the Trustee will exercise any rights and powers in the Trustee’s best judgment; provided, however, the Trustee shall not be liable for any action taken by such Trustee or the Trustee’s agent, except for liability arising from the Trustee’s bad faith, wilful misconduct or gross negligence. The Trustee shall not be required to give any bond or other security for the discharge of the Trustee’s duties.

  • Organization and Good Standing Seller has been duly organized and is validly existing as a corporation in good standing under the laws of the State of Delaware, with power and authority to own its properties and to conduct its business as such properties are currently owned and such business is currently conducted, and had at all relevant times, and now has, power, authority and legal right to acquire, own and sell the Receivables and the Other Conveyed Property to be transferred to Purchaser.

  • LIABILITY OF OTHERS Nothing in this Contract shall be construed to impose any liability upon the Government to persons, firms, associations, or corporations engaged by Contractor as servants, agents, or independent contractors, or in any other capacity whatsoever, or make Government liable to any such persons, firms, associations, or corporations for the acts, omissions, liabilities, obligations and taxes of Contractor of whatsoever nature, including but not limited to unemployment insurance, gross receipt, excise, and social security taxes for Contractor, its servants, agents or independent contractors.

  • Limited License Subject to the terms and conditions of this LLA and applicable Open Source Terms (as defined hereafter) and during the term of this LLA, ST hereby grants You under intellectual property rights owned by or licensed to ST, a non-exclusive, non-transferable, royalty-free, copyright license, without the right to sub-license (except as expressly stipulated herein or authorized in writing by an authorized representative of ST), to use and reproduce the Licensed Materials in object code solely and exclusively with ST chipsets, integrated circuits or ST Gyro product as applicable (“ST Chipsets”) for incorporation in a Licensee Product (as defined hereinafter) and subsequent distribution directly or indirectly of said Licensee Product provided that the software part of Licensed Material executes solely and exclusively on, or in conjunction with ST Chipset in Licensee Product (“Limited License Purpose”). To the extent the Licensed Materials are made available to You in source code and subject to the terms and conditions of this LLA, ST hereby grants You under intellectual property rights owned by or licensed to ST during the term of this LLA a non- exclusive, royalty-free, non-transferable copyright license, without the right to sublicense (except as expressly stipulated herein or authorized in writing by an authorized representative of ST), to use, reproduce and modify the source code form of the Licensed Materials and compile such modified source code into new object code, for the Limited License Purpose only. Subject to the terms and conditions of this LLA, You will be authorized to sub-license the Licensed Materials and derivative works thereof in object code solely as part of your software or hardware application (“Licensee Product”) and not as a stand- alone product for the Limited License Purpose only. You will enter into an agreement with your customer under terms and conditions no less stringent as the terms of this LLA. Upon request, You shall provide ST with requested contact information of your customers. Subject to the terms and conditions of this LLA, ST hereby grants You under intellectual property rights owned by or licensed to ST, a non-exclusive, non-transferable, royalty-free, copyright license without the right to sub-license (except as expressly stipulated herein or authorized in writing by an authorized representative of ST), to use the Licensed Materials made available as comments, annotations, instructions, manuals, and other materials, whether in printed or electronic form, including without limitation installation manuals, user’s guides, and programmer guides (“Documentation”) solely to support and exercise the rights granted under this article 1 and to copy, modify and/or create derivative works from the Documentation – e.g. by creating technically accurate subsets and supersets thereof or by translating it into other languages or otherwise creating technically accurate localized versions thereof – and distributing such Licensee documentation only with Licensee Product. You acknowledge that the Licensed Materials have not been specifically designed to meet Your individual requirements and that You have all information necessary to evaluate whether the Licensed Materials meet your requirements or not, will be suitable for your intended use or application and substantially comply with the Documentation. Therefore the Licensed Materials shall be deemed accepted upon delivery to Licensee. You shall use, at your own risk, the Licensed Materials and any development that is obtained from such use. You acknowledge that ST cannot in any way be held responsible for the consequences resulting from use of the Licensed Materials and any development made following such use of the Licensed Materials. Notwithstanding anything to the contrary herein, You are not authorized to sublicense to or have used the Licensed Materials by a competitor of ST. Licensed Materials are not designed for use in safety critical applications such as life supporting devices or systems, and military, nuclear, automotive or aerospace applications or environments. ST expressly disclaims any responsibility for such usage which shall be made at Your sole risk, even if ST has been informed in writing of such usage. You acknowledge and agree to be solely responsible for regulatory and safety related requirements concerning your own products and any use of the SLA0084 - Rev 1 - September 2018 For further information contact your local STMicroelectronics sales office. xxx.xx.xxx Licensed Materials in Your products and related applications and any claim arising from incorporation of the Licensed Materials in any application or system where failure of the Licensed Materials could lead to death or personal injury.

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