Limitation of liability where Owner or Lending Body Sample Clauses
This clause defines the extent to which the Owner or Lending Body can be held legally responsible for losses, damages, or claims arising from the agreement. Typically, it sets a maximum cap on the amount recoverable from the Owner or Lending Body, and may exclude liability for certain types of damages, such as indirect or consequential losses. By doing so, the clause protects these parties from excessive financial exposure and provides predictability regarding potential liabilities, thereby allocating risk more clearly between the parties involved.
Limitation of liability where Owner or Lending Body is a trustee of a trust
(a) If either or both of the Owner and the Lending Body enters into a Transaction Document in its capacity as trustee of a trust, as indicated by the inclusion of a "Yes" in Item 9 of the Reference Table, the limitation of liability clause in Annexure H applies.
(b) Subject to clauses 1.4(a) and 1.4(c), the parties (other than the Lending Body) may not make any demand or take any action against the Lending Body in its personal capacity or seek the appointment of a liquidator, administrator, receiver or similar person to the Lending Body in its personal capacity or prove in any liquidation, receivership, administration or arrangement of or affecting the Lending Body in its personal capacity, in respect of any act, matter or thing arising directly or indirectly from this agreement.
(c) The Lending Body is not obliged to do or refrain from doing anything under this agreement (including incur any liability) unless the Lending Body's liability is limited in the same manner as set out in this clause 1.4.
(d) This clause 1.4 applies despite any other provision of this agreement, any other deed, agreement or other instrument, or any principle of equity or law to the contrary.