Limitation Regarding Indemnification. The aggregate liability of Höegh under Section 7.1(a) will not exceed $5,000,000. Furthermore, no claim may be made against Höegh for indemnification pursuant to Section 7.1(a), unless the aggregate dollar amount of all claims for indemnification pursuant to such section exceeds $500,000, in which case Höegh shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000.
Limitation Regarding Indemnification. The aggregate liability of Seadrill under Section 6.1(a) above shall not exceed $10,000,000. Furthermore, no claim may be made against Seadrill for indemnification pursuant to Section 6.1(a), unless the aggregate dollar amount of all claims for indemnification pursuant to such section shall exceed $500,000, in which case Seadrill shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000.
Limitation Regarding Indemnification. The aggregate liability of KNOT under Section 13.1(a) above shall not exceed $5,000,000. Furthermore, no claim may be made against KNOT for indemnification pursuant to Section 13.1(a), unless the aggregate dollar amount of all claims for indemnification pursuant to such section shall exceed $500,000, in which case KNOT shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000.
Limitation Regarding Indemnification. (a) The aggregate liability of Teekay under Section 7.1(a) above in connection with the LNG Partnership Group and the LNG Contribution Assets shall not exceed $10 million. Furthermore, no claim may be made against Teekay for indemnification pursuant to Section 7.1(a) in connection with the LNG Partnership Group and the LNG Contribution Assets unless the aggregate dollar amount of all claims for indemnification by the LNG Partnership Group pursuant to such section shall exceed $500,000, in which case Teekay shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000.
(b) The aggregate liability of Teekay under Section 7.1(a) above in connection with the Offshore Partnership Group and the Offshore Contribution Assets shall not exceed $10 million. Furthermore, no claim may be made against Teekay for indemnification pursuant to Section 7.1(a) in connection with the Offshore Partnership Group and the Offshore Contribution Assets unless the aggregate dollar amount of all claims for indemnification by the Offshore Partnership Group pursuant to such section shall exceed $500,000, in which case Teekay shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000.
Limitation Regarding Indemnification. (a) The aggregate liability of the Seller under Section 14.01(d) above shall not exceed $5,000,000. Furthermore, no claim may be made against the Seller for indemnification pursuant to Section 14.01(d), unless the aggregate dollar amount of all claims for indemnification pursuant to such section shall exceed $500,000, in which case the Seller shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000. The limitations set forth in this Section 14.02 shall also apply to any claim under Section 14.01(a)(i) to the extent related to environmental or health and human safety matters.
(b) The aggregate liability of the Seller under Section 14.01 above shall not exceed $483,000,000.
(c) The aggregate liability of the Buyer under Section 14.03 below shall not exceed $483,000,000.
(d) Except as otherwise set forth in this Article XIV or in Section 16.08, the indemnification obligations set forth in this Article XIV shall survive until the expiration of the applicable statute of limitations.
Limitation Regarding Indemnification. The aggregate liability of CMRE under Section 8.1(a) above shall not exceed $5,000,000 for all relevant containership vessels. Furthermore, no claim may be made against CMRE for indemnification pursuant to Section 8.1(a), unless the aggregate dollar amount of all claims for indemnification pursuant to such section shall exceed $500,000, in which case CMRE shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000.
Limitation Regarding Indemnification. (a) The aggregate liability of Transocean under Section 7.1(a) above shall not exceed $10,000,000. Furthermore, no claim may be made against Transocean for indemnification pursuant to Section 7.1(a), unless the aggregate dollar amount of all claims for indemnification pursuant to such section shall exceed $500,000, in which case Transocean shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000. Any claims for indemnification pursuant to Section 7.1(a) contained on Schedule 7.3 are not subject to the limitations in this Section 7.3(a).
(b) IN NO EVENT SHALL ANY PARTY’S INDEMNIFICATION OBLIGATION HEREUNDER COVER OR INCLUDE ANY CONSEQUENTIAL DAMAGES, WHETHER OR NOT SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES; PROVIDED, HOWEVER, THAT THE FOREGOING LIMITATIONS SHALL NOT LIMIT EACH PARTY’S INDEMNIFICATION OBLIGATIONS FOR LIABILITIES TO THIRD PARTIES AS SET FORTH IN THIS ARTICLE VII.
(c) For the avoidance of doubt, there is no monetary cap on the amount of indemnity coverage provided by any indemnifying party under Sections 7.1(b), 7.1(c) and 7.2.
(d) THE FOREGOING INDEMNITIES ARE INTENDED TO BE ENFORCEABLE AGAINST THE PARTIES IN ACCORDANCE WITH THE EXPRESS TERMS AND SCOPE THEREOF NOTWITHSTANDING ANY EXPRESS NEGLIGENCE RULE OR ANY SIMILAR DIRECTIVE THAT WOULD PROHIBIT OR OTHERWISE LIMIT INDEMNITIES BECAUSE OF THE SOLE, CONCURRENT, ACTIVE OR PASSIVE NEGLIGENCE, STRICT LIABILITY OR FAULT OF ANY OF THE INDEMNIFIED PARTIES.
Limitation Regarding Indemnification. The aggregate liability of OSG under Section 6.01(a) above shall not exceed $10,000,000. Furthermore, no claim may be made against OSG for indemnification pursuant to Section 6.01(a) unless the aggregate dollar amount of all claims for indemnification pursuant to such section shall exceed $500,000, in which case OSG shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000. Notwithstanding the foregoing, in the case any Covered Environmental Losses relating to the December 19, 2006 Plea Agreement between OSG and the United States, the limitations on liability contained in this Section 6.02 shall not apply to OSG’s indemnification obligations under Section 6.01(a) above for criminal fines, special assessments or community service payments set forth in Paragraphs 6 and 9 of such Plea Agreement.
Limitation Regarding Indemnification. (a) The aggregate liability of Teekay under Section 6.1(a) above shall not exceed $10 million. Furthermore, no claim may be made against Teekay for indemnification pursuant to Section 6.1(a) unless the aggregate dollar amount of all claims for indemnification pursuant to such section shall exceed $500,000, in which case Teekay shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000.
(b) The aggregate liability of Teekay under Sections 6.1(b) and 6.1(c) above shall not exceed $5 million. Furthermore, no claim may be made against Teekay for indemnification pursuant to Sections 6.1(b) or 6.1(c) unless the aggregate dollar amount of all claims for indemnification pursuant to such sections shall exceed $250,000, in which case Teekay shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $250,000.
Limitation Regarding Indemnification. The aggregate liability of Capital Maritime under Section 6.1(a) above shall not exceed $5,000,000 million. Furthermore, no claim may be made against Capital Maritime for indemnification pursuant to Section 6.1(a) unless the aggregate dollar amount of all claims for indemnification pursuant to such section shall exceed $500,000, in which case Capital Maritime shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000.
