Common use of Limited Liability of the Bank Clause in Contracts

Limited Liability of the Bank. The Company assumes all risks of the acts or omissions of VEPCO and any advising and negotiating bank (including Crestar Bank) with respect to its use of the Letter of Credit. Neither the Bank nor any of its officers or directors shall be liable or responsible for: (a) the use which may be made of the Letter of Credit or for any acts or omissions of VEPCO in connection therewith; (b) the validity, sufficiency or genuineness of documents, or of any endorsements thereon, even if such documents should in fact prove to be in any or all respects invalid, insufficient, fraudulent or forged; (c) payment by the Bank against presentation of documents which do not comply with the terms of the Letter of Credit, including failure of any documents to bear any reference or adequate reference to the Letter of Credit; or (d) any other circumstances whatsoever in making or failing to make payment under the Letter of Credit, except only that the Company shall have a claim against the Bank, and the Bank shall be liable to the Company to the extent, but only to the extent, of any direct, as opposed to consequential, damages suffered by the Company which the Company proves were caused by (i) the Bank's willful misconduct or gross negligence in determining whether documents presented under the Letter of Credit comply with the terms thereof or (ii) the Bank's willful failure to pay under the Letter of Credit after the presentation to it by VEPCO of a draft and certificate strictly complying with the terms and conditions of the Letter of Credit. In furtherance and not in limitation of the foregoing, the Bank may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary unless VEPCO and the Company have notified the Bank in writing prior to a drawing under the Letter of Credit that such documents do not comply with the Letter of Credit.

Limited Liability of the Bank. The Company Borrower assumes all risks of the acts or omissions of VEPCO the Trustee and any advising and negotiating bank (including Crestar Bank) transferee of the Letter of Credit with respect to its the use of the Letter of Credit. Neither the Bank nor any of its officers officers, directors, employees or directors attorneys shall be liable or responsible for: (a) the use which may be made of the Letter of Credit or for any acts or omissions of VEPCO the Trustee or any beneficiary or transferee in connection therewith; (b) the validity, sufficiency or genuineness of documents, or of any endorsements endorsement(s) thereon, even if such documents should in fact prove to be in any or all respects invalid, insufficient, fraudulent or forged; (c) payment by the Bank against presentation of documents which do not comply with the terms of the Letter of Credit, including failure of any documents to bear any reference or adequate reference to the Letter of Credit; or (d) any other circumstances whatsoever in making or failing to make payment under the Letter of Credit, except only ; PROVIDED that the Company Borrower shall have a claim against the Bank, and the Bank shall be liable to the Company Borrower to the extent, but only to the extent, of any direct, as opposed to consequential, losses, liabilities or damages suffered by the Company Borrower which the Company Borrower proves were caused by (i) the Bank's willful misconduct or gross negligence in determining whether documents presented under the Letter of Credit comply with the terms thereof or (ii) the Bank's willful failure to pay under the Letter of Credit after the presentation to it by VEPCO of a draft and certificate strictly complying with the terms and conditions of the Letter of Creditnegligence. In furtherance and not in limitation of the foregoing, the Bank may accept documents that appear on their face to be in order, without responsibility for further investigation. Further, regardless and without limitation of the foregoing, the Bank is specifically authorized to rely upon facsimile copies received by telecopier of any notice or information sight drafts and certificates otherwise complying as to form with the contrary unless VEPCO terms and the Company have notified the Bank in writing prior to a drawing under the Letter conditions of Credit that such documents do not comply with the Letter of Credit.

Limited Liability of the Bank. The Company Borrower assumes all risks of the acts or omissions of VEPCO the Trustee and any advising and negotiating bank (including Crestar Bank) transferee of the Letter of Credit with respect to its the use of the Letter of Credit. Neither the Bank nor any of its officers officers, directors, employees or directors attorneys shall be liable or responsible for: (a) the use which may be made of the Letter of Credit or for any acts or omissions of VEPCO the Trustee or any beneficiary or transferee in connection therewith; (b) the validity, sufficiency or genuineness of documents, or of any endorsements endorsement(s) thereon, even if such documents should in fact prove to be in any or all respects invalid, insufficient, fraudulent or forged; (c) payment by the Bank against presentation of documents which do not comply with the terms of the Letter of Credit, including failure of any documents to bear any reference or adequate reference to the Letter of Credit; or (d) any other circumstances whatsoever in making or failing to make payment under the Letter of Credit, except only ; provided that the Company Borrower shall have a claim against the Bank, and the Bank shall be liable to the Company Borrower to the extent, but only to the extent, of any direct, as opposed to consequential, losses, liabilities or damages suffered by the Company Borrower which the Company Borrower proves were caused by (i) the Bank's willful misconduct or gross negligence in determining whether documents presented under the Letter of Credit comply with the terms thereof or (ii) the Bank's willful failure to pay under the Letter of Credit after the presentation to it by VEPCO of a draft and certificate strictly complying with the terms and conditions of the Letter of Creditnegligence. In furtherance and not in limitation of the foregoing, the Bank may accept documents that appear on their face to be in order, without responsibility for further investigation. Further, regardless and without limitation of the foregoing, the Bank is specifically authorized to rely upon facsimile copies received by telecopier of any notice or information sight drafts and certificates otherwise complying as to form with the contrary unless VEPCO terms and the Company have notified the Bank in writing prior to a drawing under the Letter conditions of Credit that such documents do not comply with the Letter of Credit.

Limited Liability of the Bank. The As between the Company assumes and the Bank, the Company agrees to assume all risks risk of the acts or omissions of VEPCO the Trustee (and any advising and negotiating bank (including Crestar Banktransferee of the Letter of Credit) with respect to its use of the Letter of Credit. Neither the Bank nor any of its officers or directors shall be liable or responsible for: (a) the use which may be made of the Letter of Credit or for any acts or omissions of VEPCO the Trustee (or transferee) and any beneficiary in connection therewith; (b) the b)-the validity, sufficiency or genuineness of documents, or of any endorsements endorsement(s) thereon, even if such documents should in fact prove to be in any or all respects invalid, insufficient, fraudulent or forged; (c) payment by the Bank against presentation of documents which do not comply with the terms of the Letter of Credit, including failure of any documents to bear any reference or adequate reference to the Letter of Credit; or (d) any c)-any other circumstances whatsoever in making or failing to make payment under the Letter of Credit, except only that the Company shall have a claim against the Bank, and the Bank shall be liable to the Company Company, to the extent, but only to the extent, of any direct, as opposed to consequential, damages suffered by the Company which the Company proves were caused by by: (i) the y)-the Bank's willful misconduct or gross negligence in determining whether documents presented under the Letter of Credit comply with the terms thereof thereof; or (ii) the z)-the Bank's willful failure to pay under the Letter of Credit after the presentation to it by VEPCO the Trustee (or a successor trustee under the Indenture to whom the Letter of Credit has been transferred in accordance with its terms) of a draft and certificate strictly complying with the terms and conditions of the Letter of Credit. In furtherance and not in limitation of the foregoing, the Bank may accept documents that appear on their face to be in order, order without responsibility for further investigation, regardless of any notice or information to the contrary unless VEPCO and the Company have notified the Bank in writing prior to a drawing under the Letter of Credit that such documents do not comply with the Letter of Credit.