Common use of CAL’s Liability Clause in Contracts

CAL’s Liability. 14.1 In accepting CAL’s securities services hereunder, the Client understands and agrees that except for willful default or gross negligence on its part:- 14.1.1 CAL assumes no duty to make or give advice or recommendations on any Securities; 14.1.2 If CAL makes any such suggestions, whether or not at the Client’s request, CAL assumes no responsibility whatsoever for any Securities or Transaction which may be made by the Client following such suggestions; 14.1.3 CAL may hold positions in any Securities which may not be consistent with any advice given by CAL to the Client and which may result in losses on the Client’s part and CAL shall not be liable therefore; and 14.1.4 Any risks associated with any losses suffered as a result of CAL’s entering into any Transactions or establishing any Securities on the Client’s behalf are for the Client’s Account absolutely.

CAL’s Liability. 14.1 In accepting CAL’s securities services hereunder, the Client understands and agrees that except for willful default or gross negligence on its part:- 14.1.1 CAL assumes no duty to make or give advice or recommendations on any Securities; 14.1.2 If CAL makes any such suggestions, whether or not at the Client’s request, CAL assumes no responsibility whatsoever for any Securities or Transaction which may be made by the Client following such suggestions; 14.1.3 CAL may hold positions in any Securities which may not be consistent with any advice given by CAL to the Client and which may result in losses on the Client’s part and CAL shall not be liable thereforetherefor; and 14.1.4 Any risks associated with any losses suffered as a result of CAL’s entering into any Transactions or establishing any Securities on the Client’s behalf are for the Client’s Account absolutely.