Common use of Termination and Exclusion of Liability Clause in Contracts

Termination and Exclusion of Liability. If for any reason the Information or parts thereof are not supplied to the Licensee for a period in excess of 10 consecutive working days on which the Stock Exchange is open for the business of trading in Securities/the Futures Exchange is open for the business of trading Futures Contracts (as applicable), the Licensee shall be entitled to terminate this Agreement or the Datafeed relating to such Information immediately by written notice, provided that the Licensee shall not be entitled to such termination if the Information or parts thereof which is not supplied is Third Party Content only. In such event, HKEX-IS shall be liable to compensate the Licensee for loss arising from such non- transmission, but its liability shall be limited to the amount of the Licence Fees payable for the Information or parts thereof not transmitted. The Licensee's rights in respect of Licence Fees paid in advance under clause 5.4 shall arise where the Licensee ceases to use Information or parts thereof or terminates this Agreement pursuant to this paragraph 4, but only in respect of relevant Licence Fees.

Appears in 4 contracts

Samples: Market Data Vendor Licence Agreement, Market Data Vendor Licence Agreement, Market Data Vendor Licence Agreement

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Termination and Exclusion of Liability. If for any reason the Information or parts thereof are not supplied to the Licensee for a period in excess of 10 consecutive working days on which the Stock Exchange is open for the business of trading in Securities/the Futures Exchange is open for the business of trading Futures Contracts (as applicable), the Licensee shall be entitled to terminate this Agreement or the Datafeed relating to such Information immediately by written notice, provided that the Licensee shall not be entitled to such termination if the Information or parts thereof which is not supplied is Third Party Content only. In such event, HKEX-IS shall be liable to compensate the Licensee for loss arising from such non- transmission, but its liability shall be limited to the amount of the Licence Fees payable for the Information or parts thereof not transmitted. The Licensee's rights in respect of Licence Fees paid in advance under clause 5.4 shall arise where the Licensee ceases to use Information or parts thereof or terminates this Agreement pursuant to this paragraph 4, but only in respect of relevant Licence Lic ence Fees.

Appears in 1 contract

Samples: Market Data Vendor Licence Agreement

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