Common use of Recoverable Losses Clause in Contracts

Recoverable Losses. (a) The liability of a party to any other party for any act or omission (including any act or omission amounting to a breach of this agreement or a breach of statute or any negligent act or omission) under or in connection with this agreement (including any Transaction) is limited to the recovery by that party of Direct Loss less any amount of Excluded Loss relating to that other party in respect of that act or omission.

Recoverable Losses. (a) The liability of a party to any other party for any act or omission (including any act or omission amounting to a breach of this agreement or a breach of statute or any negligent act or omission) under or in connection with this agreement (including any Transaction) is limited to the recovery by that party of Direct Loss less any amount of Excluded Loss relating to that other party in respect of that act or omission.