Common use of OUR EXCLUSION OF LIABILITY Clause in Contracts

OUR EXCLUSION OF LIABILITY. 12.1 SSP shall not be liable for losses of any kind which may be incurred by you as a result of the provision of the Custodial and Nominee Service by SSP in accordance with your instructions or those of any Authorised Person nor, in any other case, unless due to the gross negligence or wilful default of SSP. Any liability we may have to you will be limited to the direct loss suffered or incurred by you, excluding any consequential loss and any loss of income, business, profit or saving or any other cost or expense arising as a result of you and or any other persons inability to complete another transaction or honour another obligation, or otherwise arising in connection therewith. In no circumstance shall the liability of SSP under this Appendix exceed the market value of the Custodial Investments held by it on your behalf in respect of which such liability arose.

OUR EXCLUSION OF LIABILITY. 12.1 SSP shall not be liable for losses of any kind which may be incurred by you as a result of the provision of the Custodial Safe Custody and Nominee Service by SSP in accordance with your instructions or those of any Authorised Person nor, in any other case, unless due to the gross negligence or wilful default of SSP. Any liability we may have to you will be limited to the direct loss suffered or incurred by you, excluding any consequential loss and any loss of income, business, profit or saving or any other cost or expense arising as a result of you and or any other persons inability to complete another transaction or honour another obligation, or otherwise arising in connection therewith. In no circumstance shall the liability of SSP under this Appendix exceed the market value of the Custodial Custody Investments held by it on your behalf in respect of which such liability arose.