Common use of Limitation of Warrantors’ liability Clause in Contracts

Limitation of Warrantors’ liability. Notwithstanding the provisions of Clause 4, the Warrantors shall not be liable for breach of Warranty: 5.1 Time limitation for claims in respect of any claim unless written notice of such claim is given by NewCo to the Warrantor(s) who is/are believed by NewCo to be a Liable Party with a copy to Xx Xxxxxx and to the Company’s Solicitors, DLA of 3 Xxxxx Xxxxxx, Xxxxxx, XX0X 0XX xor the attention of Xxxx Xxxxxx, setting out such details as are available of the specific matter giving rise to the claim including, if practicable, an estimate of the amount of Losses which are, or are to be, the subject of the claim, including any Losses which are contingent on the occurrence of any future event, on or prior to 31 July 2004: 5.2 Individual de minimis claims in respect of any claim unless the amount of such claim exceeds £100,000 (“Qualifying Claim”). 5.3 Aggregate minimum claims in respect of any claim unless the value of the Company has been significantly impaired and the aggregate amount of all Qualifying Claims exceeds £5,000,000, but if the value of the Company having been significantly impaired, and the aggregate liability in respect of all such Qualifying Claims exceeds that figure then all Qualifying Claims shall accrue against and be recoverable from the Warrantors in full;