Common use of Allocation of Risk and Liability Limitation Clause in Contracts

Allocation of Risk and Liability Limitation. The liability of Seller to Buyer arising out of, connected with, or resulting from: (i) the design, manufacture, delivery, sale, possession, use, repair or handling of any goods delivered to Buyer by Seller or any affiliate of Seller, or (ii) any product advice, publication or other service provided to Buyer by Seller, is limited to those expressly set forth in the “Warranties, Remedies and Limitations” section above. Buyer acknowledges that the remedies and benefits furnished and to be furnished by Seller to Buyer under the “Warranties, Remedies and Limitations” section are given and accepted in lieu of any other remedy or benefit and in lieu of any obligation, liability, right, claim, or remedy in contract, tort or strict liability, whether or not arising from the negligence (actual or imputed) of Seller. The price allocable to any goods alleged to be the cause of any loss or damage to the Buyer is the ceiling limit on the liability of Seller whether arising under warranty, contract, tort (including negligence) or strict liability theory. Buyer acknowledges and accepts the warranties and liability limitations set forth herein as a valid and enforceable allocation of risk between the parties, and Buyer hereby waives any right which would tend to negate or limit their enforceability (including without limitation the provisions of UCC §2-719(3)). In no event will Seller be liable for special, incidental or consequential damages of any nature.