Obligation to mitigate/betterment. (a) Each party to this Agreement must take reasonable steps to mitigate that party's losses, damages, liabilities, costs and expenses, and a party's entitlement to recover losses, damages, liabilities, costs and expenses will be determined on the basis that the party should have observed the obligation to mitigate. (b) Where a party restores or repairs a damaged asset and that repair or restoration results in improved functionality of an asset, such improved functionality shall not be regarded as a betterment and no reduction or adjustment of the costs of repair or restoration shall be made on that account.
Appears in 2 contracts
Samples: Track Access Agreement, Track Access Agreement
Obligation to mitigate/betterment. (a) Each party to this Agreement must take reasonable steps to mitigate that party's ’s losses, damagesdamage, liabilities, costs and expenses, and a party's ’s entitlement to recover losses, damages, liabilities, costs and expenses will be determined on the basis that the party should have observed the obligation to mitigate.
(b) Where a party restores or repairs a damaged asset and that repair or restoration results in improved functionality of an asset, such improved functionality shall not be regarded as a betterment and no reduction or adjustment of the costs of repair or restoration shall be made on that account.
Appears in 1 contract
Samples: Access Agreement
Obligation to mitigate/betterment.
(a) Each party to this Agreement must take reasonable steps to mitigate that party's ’s losses, damagesdamage, liabilities, costs and expenses, and a party's ’s entitlement to recover losses, damages, liabilities, costs and expenses will be determined on the basis that the party should have observed the obligation to mitigate.
(b) Where a party restores or repairs a damaged asset and that repair or restoration results in improved functionality of an asset, such improved functionality shall not be regarded as a betterment and no reduction or adjustment of the costs of repair or restoration shall be made on that account.
Appears in 1 contract
Samples: Access Agreement
Obligation to mitigate/betterment. (a) Each party to this Agreement must will take reasonable steps to mitigate that party's losses, damages, liabilities, costs and expenses, and a party's entitlement to recover losses, damages, liabilities, costs and expenses will be determined on the basis that the party should have observed the obligation to mitigate.
(b) Where a party restores or repairs a damaged asset and that repair or restoration results in improved functionality of an asset, such improved functionality shall will not be regarded as a betterment and no reduction or adjustment of the costs of repair or restoration shall will be made on that account.
Appears in 1 contract
Samples: Track Access Agreement
Obligation to mitigate/betterment. (a) Each party to this Agreement must take reasonable steps to mitigate that party's losses, damages, liabilities, costs and expenses, and a party's entitlement to recover losses, damages, liabilities, costs and expenses will be determined on the basis that the party should have observed the obligation to mitigate.
(b) Where a party restores or repairs a damaged asset and that repair or restoration results in improved functionality of an asset, such improved functionality shall not be regarded as a betterment and no reduction or adjustment of the costs of repair or restoration shall be made on that account.
Appears in 1 contract
Samples: Track Access Agreement
Obligation to mitigate/betterment. (a) Each party to this Agreement must will take reasonable steps to mitigate that party's losses, damages, liabilities, costs and expenses, and a party's entitlement to recover losses, damages, liabilities, costs and expenses will be determined on the basis that the party part should have observed the obligation to mitigate.
(b) Where a party restores or repairs a damaged asset and that repair or restoration results in improved functionality of an asset, such improved functionality shall will not be regarded as a betterment and no reduction or adjustment of the costs of repair or restoration shall will be made on that account.
Appears in 1 contract
Samples: Operator Sub Agreement