Common use of Liability and compensation Clause in Contracts

Liability and compensation. (1) The Shareholder undertakes to hold SNN free of and to compensate SNN against any claims, liabilities, requests, losses, prejudices, decisions, costs or other obligations, or against the right to open court proceedings (including lawyer fees and the cost of executing such an obligation) that may result from or following a violation of obligations by the Shareholder (including any violation of their Representatives) under this Agreement and against any legal action that may occur following the access to any Confidential Information or following the Shareholder’s (or any of their Representatives’) failure to observe any legal or administrative provisions applicable to the Confidential Information, including, but without limitation to, those concerning the personal data protection, the abusive use of privileged information and market manipulation. (2) In case the Shareholder violates its obligations under this Confidentiality Agreement (including any violation of their Representatives who act on behalf, for or otherwise following the Shareholder’s instructions through act, action or omission), SNN is entitled to a corresponding compensation amounting to EUR 100,000 and to other remedies for any loss caused as a result of such a violation. In order to avoid any doubt, the Shareholder will be first liable according to this clause III regardless of the right SNN might have to formulate a claim against the Shareholders’ Representatives.

Liability and compensation. (1) The Shareholder undertakes to hold SNN free of and to compensate SNN against any claims, liabilities, requests, losses, prejudices, decisions, costs or other obligations, or against the right to open court proceedings (including lawyer fees and the cost of executing such an obligation) that may result from or following a violation of obligations by the Shareholder (including any violation of their Representatives) under this Agreement and against any legal action that may occur following the access to any Confidential Information or following the Shareholder’s (or any of their Representatives’) failure to observe any legal or administrative provisions applicable to the Confidential Information, including, but without limitation to, those concerning the personal data protection, the abusive use of privileged information and market manipulation. (2) In case the Shareholder violates its obligations under this Confidentiality Agreement (including any violation of their Representatives who act on behalf, for or otherwise following the Shareholder’s instructions instructions) (through act, action or omission), SNN is entitled to a corresponding compensation amounting to EUR 100,000 and to other remedies for any loss caused as a result of such a violation. In order to avoid any doubt, the Shareholder will be first liable according to this clause III regardless of the right SNN might have to formulate a claim against the Shareholders’ Representatives.