Common use of Acknowledgment and Waiver Clause in Contracts

Acknowledgment and Waiver. The Parties acknowledge that the provisions of this Section are essential, fair, and reasonable, and that the occurrence of any of the events described herein will constitute good, just, and sufficient cause for the expiration or termination of this Agreement. The Parties further acknowledge that any amounts spent in the performance of this Agreement will be spent with the understanding that this Agreement may not be renewed. Accordingly, each Party hereby waives any claim against the other for loss or damage of any kind (including damages or other compensation for unjust enrichment, loss of prospective profits, reimbursement for expenditures or investments made, or commitments entered into or goodwill), due to failure of the Parties to renew this Agreement or, upon expiration or termination, to make a similar agreement.

Acknowledgment and Waiver. The Parties parties acknowledge that the provisions of this Section are essential, fair, and reasonable, and that the occurrence of any of the events described herein will shall constitute good, just, and sufficient cause for the expiration termination or termination nonrenewal of this Agreement. The Parties parties further acknowledge that any amounts spent in the performance of this Agreement will shall be spent with the understanding that this Agreement may not be renewed. Accordingly, each Party party hereby waives any claim against the other for loss or damage of any kind (including including, without limitation, damages or other compensation for unjust enrichment, loss of prospective profits, reimbursement for expenditures or investments made, or commitments entered into or goodwill), due to failure of the Parties parties to renew this Agreement or, or upon expiration or termination, to make a similar agreement.