Common use of Limitations on Remedies and Damages Clause in Contracts

Limitations on Remedies and Damages. This Agreement is entered into solely for the benefit of Columbia and SCO Supplier and is not intended and should not be deemed to vest any rights, privileges or interests of any kind or nature in any third party, including, but not limited to the SCO Customers and DSS Customers that SCO Supplier supplies under this Agreement. FOR BREACH OF ANY PROVISION FOR WHICH ONE OR MORE EXPRESS REMEDIES OR AN EX- PRESS MEASURE OF DAMAGES IS PROVIDED, SUCH EXPRESS REMEDY OR REMEDIES OR MEAS- URE OF DAMAGES SHALL BE THE SOLE AND EXCLUSIVE REMED(IES). A PARTY’S LIABILITY HEREUNDER SHALL BE LIMITED AS SET FORTH IN SUCH PROVISION, AND ALL OTHER REME- DIES OR DAMAGES AT LAW OR IN EQUITY ARE WAIVED. IF NO REMEDY OR MEASURE OF DAM- AGES IS EXPRESSLY PROVIDED HEREIN, A PARTY’S LIABILITY SHALL BE LIMITED TO DIRECT, ACTUAL DAMAGES ONLY. SUCH DIRECT ACTUAL DAMAGES SHALL BE THE SOLE AND EXCLU- SIVE REMEDY, AND ALL OTHER REMEDIES OR DAMAGES AT LAW OR IN EQUITY ARE WAIVED. UNLESS EXPRESSLY HEREIN PROVIDED, NEITHER PARTY SHALL BE LIABLE FOR CONSEQUEN- TIAL, INCIDENTAL, PUNITIVE, EXEMPLARY OR INDIRECT DAMAGES, LOST PROFITS OR OTHER BUSINESS INTERRUPTION DAMAGES, BY STATUTE, IN TORT OR AGREEMENT, UNDER ANY IN- DEMNITY PROVISION OR OTHERWISE. IT IS THE INTENT OF THE PARTIES THAT THE LIMITA- TIONS HEREIN IMPOSED ON REMEDIES AND THE MEASURE OF DAMAGES BE WITHOUT REGARD TO THE CAUSE OR CAUSES RELATED THERETO, INCLUDING THE NEGLIGENCE OF ANY PARTY, WHETHER SUCH NEGLIGENCE BE SOLE, JOINT OR CONCURRENT, OR ACTIVE OR PASSIVE. TO THE EXTENT ANY DAMAGES REQUIRED TO BE PAID HEREUNDER ARE LIQUIDATED, THE PAR- TIES ACKNOWLEDGE THAT THE DAMAGES ARE DIFFICULT OR IMPOSSIBLE TO DETERMINE, OR OTHERWISE OBTAINING AN ADEQUATE REMEDY IS INCONVENIENT AND THE DAMAGES CAL- CULATED HEREUNDER CONSTITUTE A REASONABLE APPROXIMATION OF THE HARM OR LOSS. NOTWITHSTANDING ANYTHING CONTAINED IN THE IMMEDIATELY PRECEDING PARAGRAPH TO THE CONTRARY, THE FOREGOING LIMITATIONS ON REMEDIES AND/OR DAMAGES SHALL NOT APPLY TO ANY PROVISIONS OF THIS AGREEMENT EXPRESSLY SETTING FORTH A DIFFER- ENT RULE AS TO REMEDIES OR DAMAGES, AND UPON AN EVENT OF DEFAULT HEREUNDER, THE NON-DEFAULTING PARTY SHALL BE ENTITLED TO RECOVER FROM THE DEFAULTING PARTY ITS REASONABLE ATTORNEY’S FEE IN VINDICATING AND ENFORCING ITS RIGHTS HERE- UNDER, WHETHER OR NOT LITIGATION IS COMMENCED.