Damage Limitation definition

Damage Limitation means (a) $1,000,000 with respect to a Known Breach, other than a wilful and intentional act taken after the date of this Agreement for which Seller is obligated under clauses (b) or (c) below; (b) an amount equal to the net proceeds of sale which would otherwise be due Seller hereunder (but for the wilful act of Seller described herein) with respect to a monetary Known Breach which is a wilful and intentional act of Seller (but not of its agents or third-party managers) taken after the date of this Agreement, for which Buyer's damages or other remedies are of a liquidated nature that is readily ascertainable; and (c) $6,000,000 with respect to all other Known Breachs which arise out of a wilful and intentional act of Seller (but not of its agents or third party managers) taken after the date of this Agreement. Seller may use the proceeds from the sale to cure any Known Breach and shall use the proceeds of sale to cure any Known Breach described under clause (a) which is liquidated and monetary in nature and readily ascertainable and under clause (b), in each case subject to the applicable Damage Limitation. Seller shall provide Buyer with notice of whether or not it has cured a Known Breach on or prior to the expiration of the Seller's Cure Period and evidence reasonably satisfactory to Buyer of any such cure. Notice of cure as required herein may be delivered by facsimile transmission to the FAX numbers set forth in Section 14 below (and such notice shall be deemed given on the date set forth in Section 14 below).
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Examples of Damage Limitation in a sentence

  • If any part of the foregoing provisions related to the agreement to arbitrate disputes is found to be unenforceable, then none of the provisions regarding arbitration will apply, but the Damage Limitation, Class Action Waiver and the Jury Trial Waiver shall continue to apply.

  • Notwithstanding the foregoing, this Damage Limitation shall not apply to claims alleging the breach of the nonsolicitation or confidentiality provisions contained in these Policies.

  • The following Sections of this Agreement shall survive termination or expiration of the Agreement: 1 (Definitions); 4 (Title); 5 (Licenses); 7 (License Fees and Royalties); 9 (Warranties, Representations and Undertakings); 10 (Indemnification); 11 (Confidentiality); 12.5 (Survival); 13 (Damage Limitation); and 14 (General).

  • Additional guidance can be found in the Environment Agency Flood line Publication 'Damage Limitation'.

  • Scaling factors (SF) assumed the two record sets for Significant Damage (SD-LS) and Damage Limitation Limit States (DL-LS).

  • Reference elastic response spectra for limit state of SD and DL are determined according to the Italian code [16].In this case study, Significant Damage and Damage Limitation elastic response spectra are determined for the site (lat.

  • Damage Limitation capacities are similar at each level of the structure and amount approximately to 0.5%, corresponding to the value provided for existing buildings in the Italian Code ([16], [17]).A common way to represent results of nonlinear analyses is to choose the Intensity Measure (IM) and plot analysis results in IM-EDP plane (Figure 12).

  • Additional guidance can be found in the Environment Agency Floodline publication 'Damage Limitation', which is available online.

  • Finally, assessment is carried out for Significant Damage (SD) and Damage Limitation (DL) Limit States by means of nonlinear dynamic analyses (section 4).

  • Damage Limitation I understand that by enrolling at NSU, I am not guaranteed a degree.

Related to Damage Limitation

  • Loss or Damage means any loss or damage to the Vehicle, including that caused by theft of the Vehicle or by adverse weather events, that requires repair or replacement including the loss of use of the Vehicle (demurrage), legal expenses, assessment fees, towing and recovery costs, storage, service charges and any appraisal fees of the Vehicle;

  • Accidental Damage means physical damage, breakage or failure of Your Covered Equipment due to an unforeseen and unintentional event occurring either due to handling (e.g., dropping the Covered Equipment or through liquid contact) or due to an external event (e.g., extreme environmental or atmospheric conditions). The damage must affect the functionality of Your Covered Equipment, which includes cracks to the display screen that affect the visibility of the display.

  • Catastrophic Damage as used hereunder is major change or damage to In- cluded Timber on Sale Area, to Sale Area, to access to Sale Area, or a combination thereof:

  • Structural damage means a covered building, regardless of the date of its construction, has experienced the following.

  • Serious damage ’ means any specific defect defined in this section; or an equally objectionable variation of any one of these defects, any other defect, or any combination of defects which se- riously detracts from the appearance, or the edible or marketing quality of the fruit. The following specific defects shall be considered as serious damage:

  • Damage means actual and/or physical damage to tangible property;

  • Major Damage means damage that in the estimation of the surveyor exceeds USD

  • Limitation of Liability Insert the following Section 15, after Section 14:

  • Consequential Loss means loss of profits, anticipated loss of profit or revenue, loss of production, loss of business opportunity, loss of or damage to goodwill or reputation, loss of use or any other similar loss, but excludes:

  • Premises Partial Damage means damage or destruction to the Premises, other than Lessee-Owned Alterations and Utility Installations, the repair cost of which damage or destruction is less than fifty percent (50%) of the then Replacement Cost (as defined in Paragraph 9.1(d)) of the Premises (excluding Lessee-Owned Alterations and Utility Installations and Trade Fixtures) immediately prior to such damage or destruction.

  • Environmental Damage means any injury or damage to persons, living organisms or property (including offence to man’s senses) or any pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;

  • Damage to Property means physical injury to or destruction of tangible property, including the loss of its use. Tangible property includes the cost of recreating or replacing stocks, bonds, deeds, mortgages, bank deposits and similar instruments, but does not include the value represented by such instruments.

  • Injury means accidental physical bodily harm excluding illness or disease solely and directly caused by external, violent and visible and evident means which is verified and certified by a Medical Practitioner.

  • Accidental Bodily Injury means an Injury sustained as the result of an Accident and independently of all other causes by an outside traumatic event or due to exposure to the elements.

  • Direct Damage has the meaning given to it in clause 26.2;

  • Physical Damage means any tangible injury to a Property, whether caused by accident, natural occurrence, or any other reason, including damage caused by defects in construction, land subsidence, earth movement or slippage, fire, flood, earthquake, riot, vandalism or any Environmental Condition.