Common use of Claims and Liability for Lost Product Clause in Contracts

Claims and Liability for Lost Product. Operator shall not be liable to Customer for lost or damaged Product unless Customer notifies Operator in writing within ninety (90) days of the report of any incident or the date Customer learns or should have learned of any such loss or damage to the Product, whichever is earlier. Subject always to Section 18(b), Operator’s maximum liability to Customer for any lost or damaged Product shall be limited to (a) the lesser of (i) the replacement value of the Product at the time of the incident based upon the price as posted by Platts for similar Product in the same locality, and if no other similar Product is in the locality, then in the state, or (ii) the actual cost paid for the Product by Customer (copies of Customer’s invoices of cost paid must be provided), less (b) the salvage value, if any, of the damaged Product.

Claims and Liability for Lost Product. Operator Provider shall not be liable to Customer for lost or damaged Product unless Customer notifies Operator Provider in writing within ninety (90) days of the report of any incident or the date Customer learns or should have learned of any such loss or damage to the Product, whichever is earlier. Subject always to Section 18(b), OperatorProvider’s maximum liability to Customer for any lost or damaged Product shall be limited to (ai) the lesser of (i1) the replacement value of the Product at the time of the incident based upon the price as posted by Platts or similar publication for similar Product in the same locality, and if no other similar Product is in the locality, then in the state, or (ii2) the actual cost paid for the Product by Customer (copies of Customer’s invoices of cost paid must be provided), less (bii) the salvage value, if any, of the damaged Product.

Claims and Liability for Lost Product. Operator shall not be liable to Customer for lost or damaged Product unless Customer notifies Operator in writing within ninety (90) days of the report of any incident or the date Customer learns or should have learned of any such loss or damage to the Product, whichever is earlier. Subject always to Section 18(b12(b), Operator’s maximum liability to Customer for any lost or damaged Product shall be limited to (ai) the lesser of (iA) the replacement value of the Product at the time of the incident based upon the price as posted by Platts for similar Product in the same locality, and if no other similar Product is in the locality, then in the state, or (iiB) the actual cost paid for the Product by Customer (copies of Customer’s invoices of cost paid must be provided), less (bii) the salvage value, if any, of the damaged Product.

Claims and Liability for Lost Product. Operator shall not be liable to Customer for lost or damaged Product unless Customer notifies Operator in writing within ninety (90) days of the report of any incident or the date Customer learns or should have learned of any such loss or damage to the Product, whichever is earlier. Subject always to Section 18(b), Operator’s maximum liability to Customer for any lost or damaged Product shall be limited to (ai) the lesser of (i1) the replacement value of the Product at the time of the incident based upon the price as posted by Platts or similar publication for similar Product in the same locality, and if no other similar Product is in the locality, then in the state, or (ii2) the actual cost paid for the Product by Customer (copies of Customer’s invoices of cost paid must be provided), less (bii) the salvage value, if any, of the damaged Product.