No Liability of Seller Sample Clauses

No Liability of Seller. Notwithstanding anything to the contrary in this Article XIII, Seller shall have no liability to Buyer for, and Buyer hereby agrees to release, defend, indemnify and hold harmless Seller from, the incorrect payment of delay rentals, royalties, shut-in royalties or similar payments or for any failure to pay any such payments through mistake or oversight (INCLUDING THOSE RESULTING FROM SELLER’S SOLE, JOINT, COMPARATIVE OR CONCURRENT NEGLIGENCE OR STRICT LIABILITY) provided that such payments relate to production months after the Effective Time. In no event shall Buyer’s remedy for any Seller’s breach of its obligations under this Article XIII exceed the Allocated Value of the Assets affected by such breach.
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No Liability of Seller. None of Seller or any of the Seller Indemnified Parties (as hereinafter defined) shall be liable or responsible to Buyer or any other person or entity in respect of any Claims (as hereinafter defined) based on, arising out of, or otherwise in respect of the Transition Services ("Transition Services Liabilities"), other than Claims caused solely by Seller's gross negligence or willful misconduct or by Seller's breach of Section 7.6 hereof (the "Indemnifiable Transition Services Liabilities").

Related to No Liability of Seller

  • No Liability Bank shall not be responsible or liable for any shortage or discrepancy in, damage to, or loss or destruction of, any goods, the sale or other disposition of which gives rise to an Account, or for any error, act, omission, or delay of any kind occurring in the settlement, failure to settle, collection or failure to collect any Account, or for settling any Account in good faith for less than the full amount thereof, nor shall Bank be deemed to be responsible for any of Borrower’s obligations under any contract or agreement giving rise to an Account. Nothing herein shall, however, relieve Bank from liability for its own gross negligence or willful misconduct.

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