LIABILITY   OF   CHALLENGER   AND   SOLVER Sample Clauses

LIABILITY   OF   CHALLENGER   AND   SOLVER. The Challenger and Solver shall fully and exclusively bear the risks in connection with the fulfilment of their tasks and obligations under this Contract. Except in case of force majeure (Article 7), the Challenger and Solver must compensate the Coordinator, and the EC for any damage they sustain because of the implementation of the obligations of the Challenger and/or Solver under this Contract or because the tasks and obligations of the Challenger and/or Solver were not implemented in full compliance with this Contract. Accordingly, neither the InnoBuyer Consortium nor the EC can be held liable for any damage caused to the Challenger and/or Solver or to third parties because of implementing this Contract, including for gross negligence. At the same time, neither InnoBuyer consortium nor the EC can be held liable for any damage caused by the Challenger and/or Solver or third parties, because of implementing this Contract. The Challenger and/or Solver shall bear sole responsibility for ensuring that they act within the framework of this Contract do not infringe third parties’ rights. There is no joint liability between the Contracting Parties. For this purpose, the Challenger and/or Solver shall indemnify and hold the Coordinator and the EC harmless from and against all repayments, loss, liability, costs, charges, claims or damages which the Coordinator or the EC as a result thereof would incur or suffer or must pay to the EC or any third parties. In addition, should the EC have a right of recovery against the InnoBuyer consortium regarding any or all the financial support granted under this Contract, the Challenger and/or Solver shall repay the sums in question in the terms and on the date specified by the Coordinator.
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Related to LIABILITY   OF   CHALLENGER   AND   SOLVER

  • Limitation of Liability No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

  • Indemnification In the event any Registrable Securities are included in a Registration Statement under this Agreement:

  • IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written.

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

  • Confidentiality (a) Subject to Section 7.15(c), during the Term and for a period of three

  • Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • WHEREAS the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

  • General The Trustee shall keep proper books of record and account of all the transactions of each Trust under this Indenture at its corporate trust office, including a record of the name and address of, and the Units issued by each Trust and held by, every Unit holder, and such books and records of each Trust shall be open to inspection by any Unit holder of such Trust at all reasonable times during the usual business hours. The Trustee shall make such annual or other reports as may from time to time be required under any applicable state or federal statute or rule or regulations thereunder.

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