Common use of Standard of Care; Limitation of Damages Clause in Contracts

Standard of Care; Limitation of Damages. The Lenders, the Issuing Banks and the Administrative Agent shall be liable to the Borrowers only for matters arising from this Agreement or otherwise related to the Obligations resulting from such Lender’s or the Administrative Agent’s gross negligence or willful misconduct as finally determined by a court of competent jurisdiction and not subject to any appeal or by settlement tantamount to such judgment, and liability for all other matters is hereby waived. The Lenders, the Issuing Banks and the Administrative Agent shall not in any event be liable to the Borrowers for special, punitive or consequential damages (as opposed to direct or actual damages) arising from this Agreement or otherwise related to the Obligations.

Appears in 2 contracts

Samples: Credit Agreement (Protective Life Insurance Co), Credit Agreement (Protective Life Insurance Co)

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Standard of Care; Limitation of Damages. The Lenders, the Issuing Banks and the Administrative Agent shall be liable to the Borrowers only for matters arising from this Agreement or otherwise related to the Obligations resulting from such Lender’s Xxxxxx's or the Administrative Agent’s 's gross negligence or willful misconduct as finally determined by a court of competent jurisdiction and not subject to any appeal or by settlement tantamount to such judgment, and liability for all other matters is hereby waived. The Lenders, the Issuing Banks and the Administrative Agent shall not in any event be liable to the Borrowers for special, punitive or consequential damages (as opposed to direct or actual damages) arising from this Agreement or otherwise related to the Obligations.

Appears in 2 contracts

Samples: Credit Agreement (Protective Life Insurance Co), Credit Agreement (Protective Life Insurance Co)

Standard of Care; Limitation of Damages. The Lenders, the Issuing Banks Lenders and the Administrative Agent shall be liable to the Borrowers Borrower only for matters arising from this Agreement or otherwise related to the Obligations resulting from such Lender’s or the Administrative Agent’s gross negligence or willful misconduct as finally determined by a court of competent jurisdiction and not subject to any appeal or by settlement tantamount to such judgment, and liability for all other matters is hereby waived. The Lenders, the Issuing Banks Lenders and the Administrative Agent shall not in any event be liable to the Borrowers Borrower for special, punitive or consequential damages (as opposed to direct or actual damages) arising from this Agreement or otherwise related to the Obligations.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Protective Life Corp)

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Standard of Care; Limitation of Damages. The Lenders, the Issuing Banks Lenders and the Administrative Agent shall be liable to the Borrowers only for matters arising from this Agreement or otherwise related to the Obligations resulting from such Lender’s or the Administrative Agent’s gross negligence or reckless or willful misconduct as finally determined by a court of competent jurisdiction and not subject to any appeal or by settlement tantamount to such judgment, and liability for all other matters is hereby waived. The Lenders, the Issuing Banks Lenders and the Administrative Agent shall not in any event be liable to the Borrowers for special, punitive special or consequential damages (as opposed to direct or actual damages) arising from this Agreement or otherwise related to the Obligations.

Appears in 1 contract

Samples: Credit Agreement (Protective Life Corp)

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