No Material Loss or Liability Clause Samples
The "No Material Loss or Liability" clause serves to limit or exclude a party's responsibility for significant financial losses or legal liabilities arising from the agreement. In practice, this clause typically specifies that neither party will be held accountable for damages or losses that do not meet a certain threshold of materiality, or it may exclude liability for indirect or consequential damages altogether. Its core function is to allocate risk between the parties by preventing minor or incidental issues from escalating into major claims, thereby providing clarity and predictability regarding potential exposures under the contract.
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No Material Loss or Liability. Since March 31, 2019, the Borrower and its Subsidiaries have not incurred any material loss or liability (except such liabilities as may be incurred in accordance with Section 5.02 (Negative Covenants);
No Material Loss or Liability. IFC shall have received a certificate from an Authorized Representative of each Borrower and the Guarantor that since the date of this Agreement none of the Borrowers, the Guarantor or any other Guarantor Subsidiary has incurred any material loss or liability (except such liabilities as may be incurred in accordance with Section 5.02 (Negative Covenants));
No Material Loss or Liability. Since the date of this Agreement the Borrower and its Subsidiaries have not incurred any material loss or liability (except such liabilities as may be incurred in accordance with Section 5.02 (Negative Covenants);
No Material Loss or Liability. OFID shall have received a certificate from an Authorized Representative of the Borrower and the Guarantor that since the date of this Agreement none of the Borrower, the Guarantor or any other Guarantor Subsidiary has incurred any material loss or liability (except such liabilities as may be incurred in accordance with Section 5.02);
No Material Loss or Liability. Since December 31st, 2023, the Obligors and their respective Subsidiaries have not incurred any material loss or liability (except such liabilities as may be incurred in accordance with Section 5.02 (Negative Covenants));
No Material Loss or Liability. Since the date of this Agreement none of the Obligors has incurred any material loss or liability except in the normal course of business (except such liabilities as may be incurred in accordance with Section 6.02 (Negative Covenants));
No Material Loss or Liability. Since the Original Effective Date, the Borrower has not incurred any material loss or liability (except such liabilities as may be incurred in accordance with Section 5.02 (Negative Covenants));
No Material Loss or Liability. Since the date of this Agreement, none of the Obligors have incurred any material loss or liability other than pursuant to the Loans and the Transaction Documents or as otherwise permitted by this Agreement;