Common use of Disclaimers and Limitations Clause in Contracts

Disclaimers and Limitations. EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED FOR HEREIN, SELLER HEREBY DISCLAIMS ALL WARRANTIES RELATING TO IT, TO ITS BUSINESS OR PROPERTY OR TO THE AIRCRAFT, THE EQUIPMENT OR THE BOOKS AND RECORDS. PURCHASER HAS HAD AND WILL HAVE AMPLE OPPORTUNITY TO INSPECT THE AIRCRAFT, THE EQUIPMENT AND THE BOOKS AND RECORDS PRIOR TO DELIVERY OF THE AIRCRAFT. PURCHASER AGREES THAT IT IS PURCHASING THE AIRCRAFT, THE EQUIPMENT AND THE BOOKS AND RECORDS "AS IS." PURCHASER HEREBY RELEASES, RENOUNCES AND DISCLAIMS ALL WARRANTIES, OBLIGATIONS AND LIABILITIES OF SELLER AND ALL RIGHTS, CLAIMS AND REMEDIES OF PURCHASER AGAINST SELLER, EXPRESS OR IMPLIED, ARISING BY LAW OR OTHERWISE, WITH RESPECT TO ANY NONCONFORMITY OR DEFECT (WHETHER LATENT OR DISCOVERABLE) IN THE AIRCRAFT, INCLUDING, BUT NOT LIMITED TO: (i) ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, (ii) ANY WARRANTY ARISING FROM COURSE OF PERFORMANCE, COURSE OF DEALING OR USAGE OF TRADE, (iii) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY IN TORT OR STRICT-LIABILITY, WHETHER OR NOT ARISING FROM THE NEGLIGENCE OF SELLER OR ANY PREDECESSOR TO SELLER, ACTUAL OR IMPUTED AND (iv) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY FROM LOSS OR DAMAGE TO THE AIRCRAFT, FOR LOSS OF USE, REVENUE OR PROFIT WITH RESPECT TO THE AIRCRAFT OR FOR ANY INCIDENTAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES RESULTING FROM ANY SUCH NONCONFORMITY OR DEFECT.

Disclaimers and Limitations. Purchaser expressly acknowledges that there exist no warranties or representations of Seller, expressed or implied, other than those expressly set forth in the Closing Documents or in this Agreement, and Seller has no obligation to determine whether there are any material matters that should be disclosed to Purchaser to the extent those matters have not been expressly set forth herein. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN CONTAINED (OTHER THAN AS EXPRESSLY SET FORTH IN THE CLOSING DOCUMENTS OR IN THIS AGREEMENT), THE PURCHASER EXPRESSLY UNDERSTANDS, ACKNOWLEDGES AND AGREES THAT THE CONVEYANCE OF THE PROPERTY SHALL BE MADE BY SELLER TO PURCHASER ON AN "AS IS" BASIS, AND "WITH ALL FAULTS," AND PURCHASER ACKNOWLEDGES THAT PURCHASER HAS AGREED TO BUY THE PROPERTY IN ITS PRESENT CONDITION (SUBJECT TO PURCHASER'S RIGHT OF INSPECTION AND REVIEW AS PROVIDED HEREIN) AND THAT PURCHASER IS RELYING SOLELY ON ITS OWN EXAMINATION AND INSPECTIONS OF THE PROPERTY AND NOT ON ANY STATEMENTS OR REPRESENTATIONS MADE BY SELLER OR ANY AGENTS OR REPRESENTATIVES OF SELLER, EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED FOR HEREINSET FORTH HEREIN OR IN THE CLOSING DOCUMENTS, ADDITIONALLY, PURCHASER HEREBY ACKNOWLEDGES THAT, EXCEPT AS OTHERWISE SPECIFIED HEREIN OR IN THE CLOSING DOCUMENTS, SELLER HEREBY DISCLAIMS ALL WARRANTIES RELATING TO IT, TO ITS BUSINESS MAKES NO WARRANTY OR PROPERTY OR TO THE AIRCRAFT, THE EQUIPMENT OR THE BOOKS AND RECORDS. PURCHASER HAS HAD AND WILL HAVE AMPLE OPPORTUNITY TO INSPECT THE AIRCRAFT, THE EQUIPMENT AND THE BOOKS AND RECORDS PRIOR TO DELIVERY OF THE AIRCRAFT. PURCHASER AGREES THAT IT IS PURCHASING THE AIRCRAFT, THE EQUIPMENT AND THE BOOKS AND RECORDS "AS IS." PURCHASER HEREBY RELEASES, RENOUNCES AND DISCLAIMS ALL WARRANTIES, OBLIGATIONS AND LIABILITIES OF SELLER AND ALL RIGHTS, CLAIMS AND REMEDIES OF PURCHASER AGAINST SELLERREPRESENTATION, EXPRESS OR IMPLIED, OR ARISING BY LAW OR OTHERWISEOPERATION OF LAW, WITH RESPECT TO ANY NONCONFORMITY OR DEFECT (WHETHER LATENT OR DISCOVERABLE) INCLUDING BUT IN THE AIRCRAFT, INCLUDING, BUT NOT NO WAY LIMITED TO: (i) , ANY WARRANTY OF MERCHANTABILITY CONDITION, HABITABILITY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, (ii) ANY WARRANTY ARISING FROM COURSE PURPOSE OF PERFORMANCE, COURSE OF DEALING OR USAGE OF TRADE, (iii) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY IN TORT OR STRICT-LIABILITY, WHETHER OR NOT ARISING FROM THE NEGLIGENCE OF SELLER PROPERTY OR ANY PREDECESSOR TO SELLERPORTION THEREOF, ACTUAL OR IMPUTED AND (iv) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY FROM LOSS OR DAMAGE TO THE AIRCRAFT, FOR LOSS OF USE, REVENUE OR PROFIT WITH RESPECT TO THE AIRCRAFT ECONOMICAL, FUNCTIONAL, ENVIRONMENTAL OR PHYSICAL CONDITION, OR ANY OTHER ASPECT, OF THE PROPERTY. EXCEPT AS OTHERWISE SPECIFICALLY SET FORTH HEREIN OR IN THE CLOSING DOCUMENTS, SELLER HEREBY SPECIFICALLY DISCLAIMS ANY WARRANTY, GUARANTY OR REPRESENTATION, ORAL OR WRITTEN, PAST, PRESENT OR FUTURE, OF, AS TO, OR CONCERNING: (1) THE NATURE AND CONDITION OF THE PROPERTY OR ANY PART THEREOF, INCLUDING BUT NOT LIMITED TO, ITS WATER, SOIL, OR GEOLOGY, OR THE SUITABILITY THEREOF FOR ANY INCIDENTALAND ALL ACTIVITIES AND USES WHICH PURCHASER MAY ELECT TO CONDUCT THEREON, CONSEQUENTIAL OR EXEMPLARY DAMAGES RESULTING FROM ANY SUCH NONCONFORMITY IMPROVEMENTS PURCHASER MAY ELECT TO CONSTRUCT THEREON OR DEFECTTHAT ARE ALREADY CONSTRUCTED THEREON, OR ANY INCOME TO BE DERIVED THEREFROM, OR ANY EXPENSES TO BE INCURRED WITH RESPECT THERETO, OR ANY OBLIGATIONS OR ANY OTHER MATTER OR THING RELATING TO OR AFFECTING THE SAME; (2) THE ABSENCE OF ASBESTOS OR ANY ENVIRONMENTALLY HAZARDOUS SUBSTANCES ON, IN OR UNDER THE PROPERTY OR ON, IN OR UNDER ANY PROPERTY NEAR, ADJACENT TO OR ABUTTING THE PROPERTY; (3) THE MANNER OF CONSTRUCTION OR CONDITION OR STATE OF REPAIR OR LACK OF REPAIR OF ANY OF THE IMPROVEMENTS ON THE PROPERTY; (4) THE NATURE, EXTENT OF OR STATUS OF ANY EASEMENT, RESTRICTIVE COVENANT, RIGHT-OF-WAY, LEASE, POSSESSION, LIEN, ENCUMBRANCES, LICENSE, RESERVATION, CONDITION OR OTHER SIMILAR MATTER PERTAINING TO THE PROPERTY, OR PORTION THEREOF; AND (5) THE COMPLIANCE OF THE PROPERTY OR THE OPERATION OF THE PROPERTY OR PORTION THEREOF WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS OF ANY GOVERNMENT OR OTHER BODY. THE PROVISIONS OF THIS PARAGRAPH 18 SHALL SURVIVE THE EXECUTION AND DELIVER OF THE DEED BY SELLER AND THE CLOSING OF THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT. Purchaser hereby waives and releases Seller, Seller's Affiliates, representatives, agents and employees from any present or future claims (hereinafter referred to as the "Claims") arising from or relating to the presence or alleged presence of hazardous substances in, on, under or about the Property, including, without limitation, any claims under or on account of (i) the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as the same may have been or may be amended from time to time, and similar federal, state or local law, ordinance, rule or regulation, now or hereafter in effect, that deals with or otherwise in any manner relates to, environmental matters of any kind, or (ii) this Agreement. For the purposes hereof the term "hazardous substances" shall have the meaning given to such term or similar terms under any applicable federal, state or local laws, rules or regulations.

Disclaimers and Limitations. EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED FOR HEREIN, SELLER HEREBY DISCLAIMS ALL a. THE WARRANTIES RELATING TO IT, TO ITS BUSINESS OR PROPERTY OR TO EXPRESSLY STATED IN THIS AGREEMENT ARE THE AIRCRAFT, THE EQUIPMENT OR THE BOOKS SOLE AND RECORDSEXCLUSIVE WARRANTIES OFFERED BY APICA. PURCHASER HAS HAD AND WILL HAVE AMPLE OPPORTUNITY TO INSPECT THE AIRCRAFT, THE EQUIPMENT AND THE BOOKS AND RECORDS PRIOR TO DELIVERY THERE ARE NO OTHER WARRANTIES OF THE AIRCRAFT. PURCHASER AGREES THAT IT IS PURCHASING THE AIRCRAFT, THE EQUIPMENT AND THE BOOKS AND RECORDS "AS IS." PURCHASER HEREBY RELEASES, RENOUNCES AND DISCLAIMS ALL WARRANTIES, OBLIGATIONS AND LIABILITIES OF SELLER AND ALL RIGHTS, CLAIMS AND REMEDIES OF PURCHASER AGAINST SELLERANY KIND, EXPRESS OR IMPLIED. APICA EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES OF TITLE, ARISING BY LAW OR OTHERWISEMERCHANTABILITY, WITH RESPECT TO ANY NONCONFORMITY OR DEFECT (WHETHER LATENT OR DISCOVERABLE) IN THE AIRCRAFT, INCLUDING, BUT NOT LIMITED TO: (i) ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, (ii) ANY WARRANTY ARISING FROM COURSE NON INFRINGEMENT OF PERFORMANCEINTELLECTUAL PROPERTY RIGHTS, COURSE ACCURACY OR QUIET ENJOYMENT. EXCEPT AS STATED HEREIN, THE SERVICE AND APICA CONTENT ARE PROVIDED TO CUSTOMER ON AN “AS IS” AND “AS AVAILABLE” BASIS, AND DOES NOT WARRANT THE ACCURACY OR COMPLETENESS OF DEALING THE SITE CONTENT OR USAGE THE INFORMATION PROVIDED ON THE SITE. INFORMATION AT THIS SITE MAY NOT BE CURRENT AT THE MOMENT YOU VISIT THIS SITE AND MAY CONTAIN ERRORS. CUSTOMER ASSUMES ALL RESPONSIBILITY FOR DETERMINING WHETHER THE SERVICE OR THE INFORMATION GENERATED THEREBY IS ACCURATE OR SUFFICIENT FOR CUSTOMER’S PURPOSES. APICA DOES NOT WARRANT THAT USE OF TRADE, (iii) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM THE SYSTEM WILL BE ERROR-FREE OR REMEDY IN TORT UNINTERRUPTED. APICA IS NOT RESPONSIBLE FOR SOFTWARE INSTALLED OR STRICT-LIABILITY, WHETHER USED BY CUSTOMER OR NOT ARISING FROM THE NEGLIGENCE OF SELLER OR ANY PREDECESSOR TO SELLER, ACTUAL OR IMPUTED AND (iv) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY FROM LOSS OR DAMAGE TO THE AIRCRAFT, FOR LOSS OF USE, REVENUE OR PROFIT WITH RESPECT TO THE AIRCRAFT USERS OR FOR ANY INCIDENTAL, CONSEQUENTIAL THE OPERATION OR EXEMPLARY DAMAGES RESULTING FROM ANY SUCH NONCONFORMITY OR DEFECT.PERFORMANCE OF THE INTERNET

Disclaimers and Limitations. EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED FOR HEREIN, SELLER HEREBY DISCLAIMS ALL WARRANTIES RELATING TO IT, TO ITS BUSINESS OR PROPERTY OR TO THE AIRCRAFTMAXIMUM EXTENT PERMITTED BY LAW, ANYTHING (E.G. INCLUDING BUT NOT LIMITED TO THE EQUIPMENT OR THE BOOKS AND RECORDS. PURCHASER HAS HAD AND WILL HAVE AMPLE OPPORTUNITY PRODUCT) PROVIDED BY SD IN RELATION TO INSPECT THE AIRCRAFT, THE EQUIPMENT AND THE BOOKS AND RECORDS PRIOR TO DELIVERY OF THE AIRCRAFT. PURCHASER AGREES THAT IT THIS AGREEMENT IS PURCHASING THE AIRCRAFT, THE EQUIPMENT AND THE BOOKS AND RECORDS "PROVIDED “AS IS." PURCHASER ”, WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND, AND SD HEREBY RELEASES, RENOUNCES AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OBLIGATIONS AND LIABILITIES IRRESPECTIVE OF SELLER AND ALL RIGHTSWHETHER EXPRESS, CLAIMS AND REMEDIES OF PURCHASER AGAINST SELLERIMPLIED, EXPRESS OR IMPLIEDSTATUTORY, ARISING BY LAW CUSTOM OR TRADE USAGE OR OTHERWISE, WITH RESPECT TO ANY NONCONFORMITY OR DEFECT (WHETHER LATENT OR DISCOVERABLE) IN THE AIRCRAFT, INCLUDING, INCLUDING FOR EXAMPLE BUT NOT LIMITED TO: TO (iA) ANY WARRANTY WARRANTIES OF NON-INFRINGEMENT, (B) IMPLIED WARRANTIES OF MERCHANTABILITY OR AND FITNESS FOR A PARTICULAR PURPOSE, AND (iiC) WARRANTIES THAT ANY WARRANTY ARISING FROM COURSE MATERIAL OR SERVICE (E.G. INCLUDING BUT NOT LIMITED TO THE PRODUCT) WILL (I) MEET THE REQUIREMENTS OF PERFORMANCE, COURSE OF DEALING OR USAGE OF TRADELICENSEE, (iiiII) ANY OBLIGATIONOPERATE IN THE COMBINATIONS WHICH MAY BE SELECTED FOR USE BY LICENSEE, LIABILITY, RIGHT, CLAIM OR REMEDY IN TORT OR STRICT-LIABILITY, WHETHER OR NOT ARISING FROM THE NEGLIGENCE OF SELLER OR ANY PREDECESSOR TO SELLER, ACTUAL OR IMPUTED AND (ivIII) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OPERATE UNINTERRUPTED OR REMEDY FROM LOSS OR DAMAGE ERROR FREE. TO THE AIRCRAFTMAXIMUM EXTENT PERMITTED BY LAW, FOR LOSS OF USE, REVENUE OR PROFIT WITH RESPECT TO THE AIRCRAFT OR SD SHALL NOT BE LIABLE UNDER THIS AGREEMENT FOR ANY DIRECT, SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES RESULTING FROM OF ANY KIND. IN NO EVENT SHALL SD'S AGGREGATE LIABILITY UNDER THIS AGREEMENT, OR RELATING TO THE PRODUCT, EXCEED ALLl AMOUNTS PAID BY LICENSEE TO SD DURING THE PERIOD IN WHICH EVENTS GIVING RISE TO SUCH NONCONFORMITY LIABILITY OCCURRED, IRRESPECTIVE OF LEGAL THEORY (E.G. TORT, CONTRACT OR DEFECTOTHERWISE). A REFUND OF SUCH AMOUNTS SHALL BE LICENSEE’S EXCLUSIVE REMEDY UNDER THIS AGREEMENT. ALL PROVISIONS OF THIS SECTION VI ARE A MATERIAL CONDITION OF (AND CONSIDERATION FOR) THIS AGREEMENT.

Disclaimers and Limitations. Buyer expressly acknowledges that there exist no warranties or representations of Seller, expressed or implied, other than those expressly set forth in SECTION 9.1 of this Agreement, and Seller has no obligation to determine whether there are material matters that should be disclosed to Buyer to the extent those matters have not been expressly set forth herein. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN CONTAINED (OTHER THAN AS EXPRESSLY SET FORTH IN SECTION 9.1 OF THIS AGREEMENT, BUYER EXPRESSLY UNDERSTANDS, ACKNOWLEDGES AND AGREES THAT THE CONVEYANCE OF THE PROPERTY SHALL BE MADE BY SELLER TO BUYER ON AN "AS IS, WHERE IS" BASIS, AND "WITH ALL FAULTS," AND BUYER ACKNOWLEDGES THAT BUYER HAS AGREED TO BUY THE PROPERTY IN ITS PRESENT CONDITION (SUBJECT TO BUYER'S RIGHT OF INSPECTION AND REVIEW AS PROVIDED HEREIN) AND THAT BUYER IS RELYING SOLELY ON ITS OWN EXAMINATION AND INSPECTIONS OF THE PROPERTY AND NOT ON ANY STATEMENTS OR REPRESENTATIONS MADE BY SELLER OR ANY AGENTS OR REPRESENTATIVES OF SELLER, EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED FOR SET FORTH HEREIN. ADDITIONALLY, BUYER HEREBY ACKNOWLEDGES THAT, EXCEPT AS OTHERWISE SPECIFIED HEREIN, SELLER HEREBY DISCLAIMS ALL WARRANTIES RELATING TO IT, TO ITS BUSINESS MAKES NO WARRANTY OR PROPERTY OR TO THE AIRCRAFT, THE EQUIPMENT OR THE BOOKS AND RECORDS. PURCHASER HAS HAD AND WILL HAVE AMPLE OPPORTUNITY TO INSPECT THE AIRCRAFT, THE EQUIPMENT AND THE BOOKS AND RECORDS PRIOR TO DELIVERY OF THE AIRCRAFT. PURCHASER AGREES THAT IT IS PURCHASING THE AIRCRAFT, THE EQUIPMENT AND THE BOOKS AND RECORDS "AS IS." PURCHASER HEREBY RELEASES, RENOUNCES AND DISCLAIMS ALL WARRANTIES, OBLIGATIONS AND LIABILITIES OF SELLER AND ALL RIGHTS, CLAIMS AND REMEDIES OF PURCHASER AGAINST SELLERREPRESENTATION, EXPRESS OR IMPLIED, OR ARISING BY LAW OR OTHERWISEOPERATION OF LAW, WITH RESPECT TO ANY NONCONFORMITY OR DEFECT (WHETHER LATENT OR DISCOVERABLE) INCLUDING BUT IN THE AIRCRAFT, INCLUDING, BUT NOT NO WAY LIMITED TO: (i) , ANY WARRANTY OF MERCHANTABILITY CONDITION, HABITABILITY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSEPURPOSE OF THE PROPERTY OR ANY PORTION THEREOF, OR WITH RESPECT TO THE ECONOMICAL, FUNCTIONAL, ENVIRONMENTAL OR PHYSICAL CONDITION, OR ANY OTHER ASPECT, OF THE PROPERTY. EXCEPT AS OTHERWISE SPECIFICALLY SET FORTH HEREIN, SELLER HEREBY SPECIFICALLY DISCLAIMS ANY WARRANTY, GUARANTY OR REPRESENTATION, ORAL OR WRITTEN, PAST, PRESENT OR FUTURE, OF, AS TO, OR CONCERNING: (I) THE NATURE AND CONDITION OF THE PROPERTY OR ANY PART THEREOF, INCLUDING BUT NOT LIMITED TO, ITS WATER, SOIL, OR GEOLOGY, OR THE SUITABILITY THEREOF FOR ANY AND ALL ACTIVITIES AND USES WHICH BUYER MAY ELECT TO CONDUCT THEREON, OR ANY IMPROVEMENTS BUYER MAY ELECT TO CONSTRUCT THEREON OR THAT ARE ALREADY CONSTRUCTED THEREON, OR ANY INCOME TO BE DERIVED THEREFROM, OR ANY EXPENSES TO BE INCURRED WITH RESPECT THERETO, OR ANY OBLIGATIONS OR ANY OTHER MATTER OR THING RELATING TO OR AFFECTING THE SAME; (II) THE ABSENCE OF ASBESTOS OR ANY ENVIRONMENTALLY HAZARDOUS SUBSTANCES ON, IN OR UNDER THE PROPERTY OR ON, IN OR UNDER ANY PROPERTY NEAR, ADJACENT TO OR ABUTTING THE PROPERTY; (III) THE MANNER OF CONSTRUCTION OR CONDITION OR STATE OF REPAIR OR LACK OF REPAIR OF ANY OF THE IMPROVEMENTS ON THE PROPERTY; (IV) THE NATURE, EXTENT OF OR STATUS OF ANY EASEMENT, RESTRICTIVE COVENANT, RIGHT-OF-WAY, LEASE, POSSESSION, LIEN, ENCUMBRANCE, LICENSE, RESERVATION, CONDITION OR OTHER SIMILAR MATTER PERTAINING TO THE PROPERTY, OR PORTION THEREOF; AND (V) THE COMPLIANCE OF THE PROPERTY OR THE OPERATION OF THE PROPERTY OR PORTION THEREOF WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS OF ANY GOVERNMENT OR OTHER BODY. THE PROVISIONS OF THIS SECTION 9.5 SHALL SURVIVE THE EXECUTION AND DELIVERY OF THE DEED BY SELLER AND THE CLOSING OF THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT. Buyer hereby waives and releases Seller, Seller's Affiliates, representatives, agents and employees from any present or future claims (hereinafter referred to as the "Claims") arising from or relating to the presence or alleged presence of hazardous substances in, on, under or about the Property including, without limitation, any claims under or on account of (i) the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as the same may have been or may be amended from time to time, and similar federal, state or local statutes, and any regulations promulgated thereunder, (ii) ANY WARRANTY ARISING FROM COURSE OF PERFORMANCEany other federal, COURSE OF DEALING OR USAGE OF TRADEstate or local law, ordinance, rule or regulation, now or hereafter in effect, that deals with or otherwise in any manner relates to, environmental matters of any kind, or (iii) ANY OBLIGATIONthis Agreement. For the purposes hereof the term "hazardous substances" shall have the meaning given to such term or similar terms under any applicable federal, LIABILITYstate or local laws, RIGHT, CLAIM OR REMEDY IN TORT OR STRICT-LIABILITY, WHETHER OR NOT ARISING FROM THE NEGLIGENCE OF SELLER OR ANY PREDECESSOR TO SELLER, ACTUAL OR IMPUTED AND rules or regulations. The foregoing waiver set forth above shall not be deemed to be effective until the second anniversary of the Closing Date (iv) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY FROM LOSS OR DAMAGE TO THE AIRCRAFT, FOR LOSS OF USE, REVENUE OR PROFIT WITH RESPECT TO THE AIRCRAFT OR FOR ANY INCIDENTAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES RESULTING FROM ANY SUCH NONCONFORMITY OR DEFECT.the second anniversary of

Disclaimers and Limitations. Buyer expressly acknowledges that there exist no warranties or representations of Seller, expressed or implied, other than those expressly set forth in SECTION 9.1 of this Agreement, and Seller has no obligation to determine whether there are material matters that should be disclosed to Buyer to the extent those matters have not been expressly set forth herein. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN CONTAINED (OTHER THAN AS EXPRESSLY SET FORTH IN SECTION 9.1 OF THIS AGREEMENT), BUYER EXPRESSLY UNDERSTANDS, ACKNOWLEDGES AND AGREES THAT THE CONVEYANCE OF THE PROPERTY SHALL BE MADE BY SELLER TO BUYER ON AN "AS IS, WHERE IS" BASIS, AND "WITH ALL FAULTS," AND BUYER ACKNOWLEDGES THAT BUYER HAS AGREED TO BUY THE PROPERTY IN ITS PRESENT CONDITION (SUBJECT TO BUYER'S RIGHT OF INSPECTION AND REVIEW AS PROVIDED HEREIN) AND THAT BUYER IS RELYING SOLELY ON ITS OWN EXAMINATION AND INSPECTIONS OF THE PROPERTY AND NOT ON ANY STATEMENTS OR REPRESENTATIONS MADE BY SELLER OR ANY AGENTS OR REPRESENTATIVES OF SELLER, EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED FOR SET FORTH HEREIN. ADDITIONALLY, BUYER HEREBY ACKNOWLEDGES THAT, EXCEPT AS OTHERWISE SPECIFIED HEREIN, SELLER HEREBY DISCLAIMS ALL WARRANTIES RELATING TO IT, TO ITS BUSINESS MAKES NO WARRANTY OR PROPERTY OR TO THE AIRCRAFT, THE EQUIPMENT OR THE BOOKS AND RECORDS. PURCHASER HAS HAD AND WILL HAVE AMPLE OPPORTUNITY TO INSPECT THE AIRCRAFT, THE EQUIPMENT AND THE BOOKS AND RECORDS PRIOR TO DELIVERY OF THE AIRCRAFT. PURCHASER AGREES THAT IT IS PURCHASING THE AIRCRAFT, THE EQUIPMENT AND THE BOOKS AND RECORDS "AS IS." PURCHASER HEREBY RELEASES, RENOUNCES AND DISCLAIMS ALL WARRANTIES, OBLIGATIONS AND LIABILITIES OF SELLER AND ALL RIGHTS, CLAIMS AND REMEDIES OF PURCHASER AGAINST SELLERREPRESENTATION, EXPRESS OR IMPLIED, OR ARISING BY LAW OR OTHERWISEOPERATION OF LAW, WITH RESPECT TO ANY NONCONFORMITY OR DEFECT (WHETHER LATENT OR DISCOVERABLE) INCLUDING BUT IN THE AIRCRAFT, INCLUDING, BUT NOT NO WAY LIMITED TO: (i) , ANY WARRANTY OF MERCHANTABILITY CONDITION, HABITABILITY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSEPURPOSE OF THE PROPERTY OR ANY PORTION THEREOF, OR WITH RESPECT TO THE ECONOMICAL, FUNCTIONAL, ENVIRONMENTAL OR PHYSICAL CONDITION, OR ANY OTHER ASPECT, OF THE PROPERTY. EXCEPT AS OTHERWISE SPECIFICALLY SET FORTH HEREIN, SELLER HEREBY SPECIFICALLY DISCLAIMS ANY WARRANTY, GUARANTY OR REPRESENTATION, ORAL OR WRITTEN, PAST, PRESENT OR FUTURE, OF, AS TO, OR CONCERNING: (I) THE NATURE AND CONDITION OF THE PROPERTY OR ANY PART THEREOF, INCLUDING BUT NOT LIMITED TO, ITS WATER, SOIL, OR GEOLOGY, OR THE SUITABILITY THEREOF FOR ANY AND ALL ACTIVITIES AND USES WHICH BUYER MAY ELECT TO CONDUCT THEREON, OR ANY IMPROVEMENTS BUYER MAY ELECT TO CONSTRUCT THEREON OR THAT ARE ALREADY CONSTRUCTED THEREON, OR ANY INCOME TO BE DERIVED THEREFROM, OR ANY EXPENSES TO BE INCURRED WITH RESPECT THERETO, OR ANY OBLIGATIONS OR ANY OTHER MATTER OR THING RELATING TO OR AFFECTING THE SAME; (II) THE ABSENCE OF ASBESTOS OR ANY ENVIRONMENTALLY HAZARDOUS SUBSTANCES ON, IN OR UNDER THE PROPERTY OR ON, IN OR UNDER ANY PROPERTY NEAR, ADJACENT TO OR ABUTTING THE PROPERTY; (III) THE MANNER OF CONSTRUCTION OR CONDITION OR STATE OF REPAIR OR LACK OF REPAIR OF ANY OF THE IMPROVEMENTS ON THE PROPERTY; (IV) THE NATURE, EXTENT OF OR STATUS OF ANY EASEMENT, RESTRICTIVE COVENANT, RIGHT-OF-WAY, LEASE, POSSESSION, LIEN, ENCUMBRANCE, LICENSE, RESERVATION, CONDITION OR OTHER SIMILAR MATTER PERTAINING TO THE PROPERTY, OR PORTION THEREOF; AND (V) THE COMPLIANCE OF THE PROPERTY OR THE OPERATION OF THE PROPERTY OR PORTION THEREOF WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS OF ANY GOVERNMENT OR OTHER BODY. THE PROVISIONS OF THIS SECTION 9.5 SHALL SURVIVE THE EXECUTION AND DELIVERY OF THE DEED BY SELLER AND THE CLOSING OF THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT. Buyer hereby waives and releases Seller, Seller's Affiliates, representatives, agents and employees from any present or future claims (hereinafter referred to as the "Claims") arising from or relating to the presence or alleged presence of hazardous substances in, on, under or about the Property including, without limitation, any claims under or on account of (i) the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as the same may have been or may be amended from time to time, and similar federal, state or local statutes, and any regulations promulgated thereunder, (ii) ANY WARRANTY ARISING FROM COURSE OF PERFORMANCEany other federal, COURSE OF DEALING OR USAGE OF TRADEstate or local law, ordinance, rule or regulation, now or hereafter in effect, that deals with or otherwise in any manner relates to, environmental matters of any kind, or (iii) ANY OBLIGATIONthis Agreement. For the purposes hereof the term "hazardous substances" shall have the meaning given to such term or similar terms under any applicable federal, LIABILITYstate or local laws, RIGHTrules or regulations. The foregoing waiver set forth above shall not be deemed to be effective until the second anniversary of the Closing Date (the second anniversary of the Closing Date is herein referred to as the "Release Date"), CLAIM OR REMEDY IN TORT OR STRICT-LIABILITYwhereupon such release shall automatically be in full force and effect from and after the Release Date with respect to any claims for which Seller has not been notified prior to the Release Date in writing. Notwithstanding anything contained in this Agreement to the contrary, WHETHER OR NOT ARISING FROM THE NEGLIGENCE OF SELLER OR ANY PREDECESSOR TO SELLERin the event that Buyer notifies Seller of any any Claims against Seller prior to the Release Date, ACTUAL OR IMPUTED AND (iv) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY FROM LOSS OR DAMAGE TO THE AIRCRAFT, FOR LOSS OF USE, REVENUE OR PROFIT WITH RESPECT TO THE AIRCRAFT OR FOR ANY INCIDENTAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES RESULTING FROM ANY SUCH NONCONFORMITY OR DEFECTSeller's liability with respect thereto shall in no event exceed $500,000.