Limited liability Equipment Sample Clauses

Limited liability Equipment. Regarding the Equipment, the Lessor is liable in the following events to the following limitations: • If the Equipment does not comply with the agreed quality requirements/specifications. The Lessor's liability will be limited to the replacement of the Equipment and an extension of the rental term, free of charge, with a period during which the Lessee was unable to use the Equipment. • If the Equipment and /or crane operator is not available at the agreed time. The Lessor's liability will be limited to an extension of the rental term, free of charge, with the period during which the Lessee was unable to use the Equipment. Xxxxxx's fault, the Lessor's liability is excluded. In the event that the Lessor's liability for damage has been established by all legal means, the Lessor's liability is limited to the amount that is paid out under the relevant civil liability insurance taken out by it, with an absolute maximum of €5,000,000, the lower of these limits being applicable. An insurance certificate will be provided to the Lessee on first request. The Lessee agrees to respect the confidentiality of this document. The Lessor explicitly exonerates himself for any damage exceeding the amount paid out by the insurance. The Lessor shall be entitled to have the damage assessed by an independent expert from the sector to be appointed by the Lessor. The Lessee must immediately report any claim for damages pursuant to its obligation to report (cf. article 11 of General Bare Rental Terms) and confirm it in writing to the Lessor within forty- eight (48) hours of its determination. In the event of failure to comply with the aforementioned terms, the right to compensation on the part of the Lessee will lapse automatically and by operation of law.
Sample 1
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Limited liability Equipment. Regarding the Equipment, the Lessor is liable in the following events to the following limitations: • If the Equipment does not comply with the agreed quality requirements/specifications. The Lessor's liability will be limited to the replacement of the Equipment and an extension of the rental term, free of charge, with a period during which the Lessee was unable to use the Equipment. • If the Equipment and /or crane operator is not available at the agreed time. The Lessor's liability will be limited to an extension of the rental term, free of charge, with the period during which the Lessee was unable to use the Equipment.
Sample 1

Related to Limited liability Equipment

  • Limited Liability Except as provided by the Act, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and the Member shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a member of the Company.

  • Limited Liability of Members No Member shall be liable for any debts or obligations of the Company beyond the amount of the Capital Contributions made by such Member.

  • Unlimited Liability Neither party will exclude or limit its liability for damages resulting from: a) unauthorized use or disclosure of Confidential Information, b) either party’s breach of its data protection and security obligations that result in an unauthorized use or disclosure of personal data,

  • The Limited Liability Company The Members have created a limited liability company: The operations of the Company shall be governed by the laws located in the State of Governing Law and in accordance with this Agreement as follows:

  • Limited Liability Company The Member intends to form a limited liability company and does not intend to form a partnership under the laws of the State of Delaware or any other laws.

  • Limited Liability of Limited Partners (1) Each Unit of Limited Partnership Interest, when purchased by a Limited Partner, subject to the qualifications set forth below, shall be fully paid and non-assessable. (2) A Limited Partner shall have no liability in excess of his obligation to make contributions to the capital of the Partnership and his share of the Partnership’s assets and undistributed profits, subject to the qualifications provided in the Partnership Act.

  • Certificate of Limited Liability Company Interest A Member’s limited liability company interest may be evidenced by a certificate of limited liability company interest executed by the Manager or an officer in such form as the Manager may approve; provided that such certificate of limited liability company interest shall not bear a legend that causes such limited liability company interest to constitute a security under Article 8 (including Section 8-103) of the Uniform Commercial Code as enacted and in effect in the State of Delaware, or the corresponding statute of any other applicable jurisdiction.

  • Formation of Limited Liability Company The Company was formed on January 13, 2017, pursuant to the Delaware Limited Liability Company Act, 6 Del. C. § 18-101, et seq., as amended from time to time (the “Delaware Act”), by the filing of a Certificate of Formation of the Company with the office of the Secretary of the State of Delaware. The rights and obligations of the Member and the administration of the Company shall be governed by this Agreement and the Delaware Act. To the extent this Agreement is inconsistent in any respect with the Delaware Act, this Agreement shall control.

  • Limited Liability Company Agreement The Member hereby states that except as otherwise provided by the Act or the Certificate of Formation, the Company shall be operated subject to the terms and conditions of this Agreement.

  • Partnership and Limited Liability Company Interests Except as previously disclosed to the Administrative Agent, none of the Collateral consisting of an interest in a partnership or a limited liability company (i) is dealt in or traded on a securities exchange or in a securities market, (ii) by its terms expressly provides that it is a Security governed by Article 8 of the UCC, (iii) is an Investment Company Security, (iv) is held in a Securities Account or (v) constitutes a Security or a Financial Asset.

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