Liability rules Sample Clauses

Liability rules. 1. Each Party shall be liable to the other Party without limitation for any loss or damage re- sulting from fraud or wilful misconduct in performing its duties and obligations under this Agreement. 2. Each Party shall be liable to the other Party for any Direct Loss incurred resulting from its gross or ordinary negligence in performing its duties and obligations under this Agreement. "Direct Loss", for the purpose of this Agreement, shall mean loss or damage directly caused to the damaged Party as a result of the gross or ordinary negligence of the other Party in performing its duties and obligations under this Agreement. Lost revenues, lost profits, lost savings and reputational damage shall not qualify as Direct Loss; instead they shall qualify as indirect losses. Without prejudice to paragraphs 3 and 9, liability for indi- rect loss and damages not qualifying as Direct Loss is excluded to the extent permitted by German law. 3. The Eurosystem shall also be liable to the Contracting CSD for a claim of a Contracting CSD’s customer against the Contracting CSD in connection with T2S Services (hereinafter a ‘Customer Claim’), resulting from the Eurosystem’s gross or ordinary negligence in per- forming its duties and obligations under this Agreement, if and to the extent that all of the following criteria are satisfied: (a) the Contracting CSD has, with the approval of the Eu- rosystem (such approval shall not be unreasonably withheld or delayed), settled the Cus- tomer Claim or is held legally liable for the Customer Claim pursuant to an Enforceable Judgment; (b) the loss or damage of a customer is the direct result of an act or omission of the Eurosystem and (c) the Customer Claim would have been settled according to local market practice (marktübliche Bedingungen). The Contracting CSD shall reimburse to the Eurosystem a Customer Claim (i) for which the condition(s) outlined above are not ful- filled or are reversed or (ii) which is paid twice on the basis of this Agreement as well as on another basis, such as an insurance policy or through a claim paid by a Central Bank based on the same facts and circumstances. For the avoidance of doubt, no Customer Claim shall be paid directly by the Eurosystem to the Contracting CSD’s customers. 4. Each Party shall be liable to the other Party in proportion of the contribution of its fraud, willful misconduct, gross or ordinary negligence in the loss or damage of the other Party. 5. Without prejudice to paragraph 1, the...

Liability rules. 6.1. Failing to fulfil the duties regarding the handling and safeguarding of the leased property‌ a) Lessee bears full financial liability for any damage or cost arising from not fulfilling his duties regarding the use, handling and safeguarding of the machine, equipment and its accessories, as well as from the improper use of the machine, equipment which happens and becomes known during the lease period, and those happening during the lease period and becoming known thereafter. He shall be responsible for any damage to the lessor arising from not meeting his above-mentioned obligations. b) Should the lessee fail to return the machine, equipment after the lease period without due cause, lessor shall have the right to terminate the contract with immediate effect, as well as to take possession of the machine, equipment, to pick it up from lessee. Lessee shall pay for all costs of the lessor arising therefrom, also the ones arising out of not being able to lease the machine and equipment any longer. c) Assigning usage to any third party without the prior written consent of xxxxxx qualifies as breach of contract that serves as a cause for lessor to terminate the contract with immediate effect, and all of lessor’s damages must be paid for arising out of his being unable to lease the machine, equipment any longer. d) Lessee shall pay all costs to lessor as damages related to breakdown, loss or damage which happens and becomes known during the lease period, and those happening during the lease period and becoming known thereafter, particularly the price of stolen parts, the service charge and the related travel cost. The payment of such sums does not exempt the lessee from his obligation to pay the lease fee. The lessor shall only be held responsible for damages arising from inadequacies of the machine and equipment if the lessee can prove that it was caused by the lessor’s gross negligence or deliberately.‌ e) Following xxxxxx’s prompt reporting of an error, lessor shall carry out repairs arising from ordinary use or manufacturing defects at his own cost, while those rendered necessary by improper use or by a third party’s conduct shall be charged to lessee. During the repair the lessor may forbid the lessee to use the machine, equipment. If the defect can be traced back to the lessee’s improper use or a third party’s conduct, in that case, in addition to compensation for other costs and damages, the lessee’s obligation to pay the lease fee during the repairs sh...

Liability rules. ‌ 1. Each Party shall be liable to the other Party without limitation for any loss or damage result- ing from fraud or wilful misconduct in performing its duties and obligations under this Agreement. 2. Subject to paragraphs 4 and 6, each Party shall be liable to the other Party for any Direct Loss incurred resulting from its gross or ordinary negligence in performing its duties and obliga- tions under this Agreement. Without prejudice to paragraph 3, liability for indirect loss and damages not qualifying as Direct Loss is excluded to the extent permitted by German law. 3. The Eurosystem shall also be liable to the [NCB] for a claim of the [NCB’s] DCA Holder against the [NCB] in connection with T2S Services (hereinafter a ‘Customer Claim’), result- ing from the Eurosystem’s gross or ordinary negligence in performing its duties and obliga- tions under this Agreement, if and to the extent that all of the following criteria are satisfied:

Liability rules. 1. Each Party shall be liable to the other Party without limitation for any loss or damage resulting from fraud or wilful misconduct in performing its duties and obligations under this Agreement. 2. Subject to paragraphs 4 and 6, each Party shall be liable to the other Party for any Direct Loss incurred resulting from its gross or ordinary negligence in performing its duties and obligations under this Agreement. "Direct Loss", for the purpose of this Agreement, shall mean loss or damage directly caused to the damaged Party as a result of the gross or ordinary negligence of the other Party in performing its duties and obligations under this Agreement. Lost revenues, lost profits, lost savings and reputational damage shall not qualify as Direct Loss; instead they shall qualify as indi- rect losses. Without prejudice to paragraph 3, liability for indirect loss and damages not qualifying as Direct Loss is excluded to the extent permitted by German law. 3. The Eurosystem shall also be liable to Danmarks Nationalbank for a claim of Xxx- marks Nationalbank’s DCA Holder against Danmarks Nationalbank in connection with T2S Services (hereinafter a ‘Customer Claim’), resulting from the Eurosystem’s gross or ordinary negligence in performing its duties and obligations under this Agreement, if and to the extent that all of the following criteria are satisfied: (a)

Liability rules. In the event of losses incurred in the Operator's property as a result of violations of the Agreement by the Carrier, the Carrier will cover all financial expenses incurred necessary to remove damage to the Operator's property constituting direct consequences of a given violation, as well as provided that the loss is not related to the violation of the Agreement by the Operator. The Parties to the Agreement are not liable for the effects resulting from Force Majeure, which the Parties consider under this Agreement to be such extraordinary and external events that occurred or became known to the Party after concluding the Agreement and which the party could not have foreseen at the time of concluding it, or which the Party could not avoid in any way, which are beyond the Parties' control, but which prevent full performance of the obligations arising from the Agreement. The Parties are responsible for the actions and omissions of their own employees and persons they use to perform the Agreement. The Operator is not responsible for the condition of shipments and vehicles that entered the OIU to perform activities carried out by the Contractor.