EXTENT OF LIABILITY definition

EXTENT OF LIABILITY. A fiduciary who breaches any of the responsibilities, obligations, or duties imposed upon such fiduciary by this Plan or by the requirements of law will be liable personally only [1] to reimburse or indemnify the Plan for any losses resulting from the fiduciary's breach; [2] to restore to the Plan any profits the fiduciary has made through the use of Plan assets for the fiduciary's personal account; and [3] to pay those penalties prescribed by law arising from the fiduciary's breach. A fiduciary will be subject to such other equitable or remedial relief as a court of law may deem appropriate, including removal of the fiduciary. A fiduciary also may be removed for a violation of Section 10.9 (prohibition against certain persons holding certain positions). No Fiduciary will be liable with respect to the breach of a fiduciary duty if such breach was committed before he or she became a fiduciary or after he or she ceased to be a fiduciary. LIABILITY OF FIDUCIARY FOR BREACH BY CO-FIDUCIARY: A fiduciary will be liable for a breach of fiduciary responsibility by another fiduciary of this Plan only if the fiduciary [1] knowingly participates in, or knowingly undertakes to conceal, an act or omission of the other fiduciary, and knows such act or omission by the other fiduciary is a breach of the other fiduciary's duties; [2] enables another fiduciary to commit a breach by the fiduciary's failure to comply with Section 10.2 in the administration of specific responsibilities that give rise to the fiduciary's status as a fiduciary; or [3] has knowledge of a breach by another fiduciary and does not make reasonable efforts under the circumstances to remedy the breach.
Sample 1

Examples of EXTENT OF LIABILITY in a sentence

  • THE LIMITATIONS AND DISCLAIMERS RELATED TO WARRANTIES AND LIABILITY CONTAINED IN THIS AGREEMENT ARE INTENDED TO LIMIT THE CIRCUMSTANCES AND EXTENT OF LIABILITY.

  • DETERMINATION AND EXTENT OF LIABILITY This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the Insured Claimant who has suffered loss or damage by reason of matters insured against by this policy.

  • EXTENT OF LIABILITY: The maximum amount of liability of SURETY by virtue of this obligation will be no more than TWENTY-FIVE THOUSAND AND NO/100 DOLLARS ($25,000), together with the interest due.

  • STANDARD OF CARE, DELEGATION AND EXTENT OF LIABILITY 3.1 The Programme Trustee shall give the time and attention a proper and prudent merchant would exercise (Sorgfalt eines ordentlichen Kaufmanns) in the performance of its services and obligations under this Agreement and the other Programme Collateral Documents to which it is a party and with respect to the Programme Collateral as contemplated herein (the "Standard of Care").

  • THE EXTENT OF LIABILITY OF SELLER (EXCEPT AS TO TITLE) ARISING OUT OF THE SUPPLYING OF SAID PRODUCTS, OR THEIR USE , WHETHER ARISING FROM WARRANTY, CONTRACT, NEGLIGENCE OR OTHERWISE SHALL NOT IN ANY CASE EXCEED THE COST OF ISSUING APPROPRIATE CREDIT OR CORRECTING NONCONFORMITIES OR DEFECTS IN THE PRODUCT AS HEREIN PROVIDED; AND UPON THE EXPIRATION OF THE APPLICABLE WARRANTY PERIOD SPECIFIED HEREIN, ALL SUCH LIABILITIES SHALL TERMINATE.

  • YOU ACKNOWLEDGE THAT THE PROVISIONS OF THIS XXXX REFLECT AN INFORMED, VOLUNTARY ALLOCATION BETWEEN YOU AND ANIMBOT OF THE RISKS (BOTH KNOWN AND UN- KNOWN) ASSOCIATED WITH THE TRANSACTION CONTEMPLATED BY THIS XXXX AND THAT THE LIMI- TATIONS AND DISCLAIMERS RELATED TO WARRANTIES AND LIABILITY CONTAINED IN THESE TERMS AND CONDITIONS ARE INTENDED TO LIMIT THE CIRCUMSTANCES AND EXTENT OF LIABILITY.

  • Immunity waived16 SOVEREIGN, GOVERNMENTAL AND QUALIFIED IMMUNITIES TO SUIT AND FROM17 LIABILITY ARE WAIVED AND ABOLISHED TO THE EXTENT OF LIABILITY ESTABLISHED18 BY THIS ARTICLE, AND A RELIGIOUS ORGANIZATION MAY SUE STATE GOVERNMENT,19 EXCEPT STATE COURTS, FOR DAMAGES ALLOWED BY SECTION 41-1494.04.20 41-1494.06.

  • Elementary/middle school majors will complete one elementary placement and one middle school placement.

  • EXTENT OF LIABILITY OF THE HONG KONG FEDERATION OF YOUTH GROUPS CHARITY AUCTION OFFICE7.

  • THE ADMINISTRATOR AND THE SPONSOR SHALL NOT BE LIABLE FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, AND THE SOLE EXTENT OF LIABILITY, IF AT ALL, SHALL NOT EXCEED THE ACTUAL VALUE OF THE REWARD.

Related to EXTENT OF LIABILITY

  • Limit of Liability means, with respect to any Insuring Agreement, the limit of liability of the Underwriter for any Single Loss covered by such Insuring Agreement as set forth under the heading “Limit of Liability” in Item 3 of the Declarations or in any Rider for such Insuring Agreement.

  • Limitation of Liability Insert the following Section 15, after Section 14:

  • Maximum Liability has the meaning assigned to such term in Section 10.10.

  • AND LIABILITY LIMITS State Street shall assume no responsibility for lost interest with respect to the refundable amount of any unauthorized payment order, unless State Street is notified of the unauthorized payment order within thirty (30) days of notification by State Street of the acceptance of such payment order. In no event shall State Street be liable for special, indirect or consequential damages, even if advised of the possibility of such damages and even for failure to execute a payment order.

  • Indemnification Obligations means each of the Debtors’ indemnification obligations in place as of the Effective Date, whether in the bylaws, certificates of incorporation or formation, limited liability company agreements, other organizational or formation documents, board resolutions, management or indemnification agreements, or employment or other contracts, for their current and former directors, officers, managers, members, employees, attorneys, accountants, investment bankers, and other professionals and agents of the Debtors.

  • Breach of Agreement provisions of Section 5(a)(ii) will apply to Party A and will not apply to Party B.

  • Indemnification Provisions means each of the Debtors’ indemnification provisions currently in place whether in the Debtors’ bylaws, certificates of incorporation, other formation documents, board resolutions, or contracts for the current and former directors, officers, managers, employees, attorneys, other professionals, and agents of the Debtors and such current and former directors’, officers’, and managers’ respective Affiliates.

  • Indemnification Obligation means any existing or future obligation of any Debtor to indemnify current and former directors, officers, members, managers, agents or employees of any of the Debtors who served in such capacity, with respect to or based upon such service or any act or omission taken or not taken in any of such capacities, or for or on behalf of any Debtor, whether pursuant to agreement, the Debtors’ respective memoranda, articles or certificates of incorporation or formation, corporate charters, bylaws, operating agreements, limited liability company agreements, or similar corporate or organizational documents or other applicable contract or law in effect as of the Effective Date, excluding any obligation to indemnify any of the foregoing parties with respect to any act or omission for or on behalf of the Debtors arising out of any act or omission determined by a Final Order to constitute actual fraud, willful misconduct, or gross negligence.

  • Indemnity Obligations means all obligations of the Company to Indemnitee under this Agreement, including the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.

  • Third Party Claims has the meaning set forth in Section 11.1.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • Product Liability means any liability, claim or expense, including but not limited to attorneys’ fees and medical expenses, arising in whole or in part out of a breach of any express or implied product warranty by the Company, strict liability in tort, negligent manufacture of product, negligent provision of services, product recall, or any other allegation of liability arising from the design, testing, manufacture, packaging, labeling (including instructions for use), or sale of products.

  • Products Liability means:Your legal liability in respect of Personal Injury and/or Property Damage caused by or arising out of any Products or the reliance upon a representation or warranty made at any time with respect to such products; but only where such Personal Injury and/or Property Damage occurs away from premises owned or leased by or rented to You and after physical possession of such products has been relinquished to others.

  • Loss or Damage means any loss or damage to the Vehicle, including that caused by theft of the Vehicle or by adverse weather events, that requires repair or replacement including the loss of use of the Vehicle (demurrage), legal expenses, assessment fees, towing and recovery costs, storage, service charges and any appraisal fees of the Vehicle;

  • Consequential Damages means Losses claimed to have resulted from any indirect, incidental, reliance, special, consequential, punitive, exemplary, multiple or any other Loss, including damages claimed to have resulted from harm to business, loss of anticipated revenues, savings, or profits, or other economic Loss claimed to have been suffered not measured by the prevailing Party’s actual damages, and any other damages typically considered consequential damages under Applicable Law, regardless of whether the Parties knew or had been advised of the possibility that such damages could result in connection with or arising from anything said, omitted, or done hereunder or related hereto, including willful acts or omissions.

  • Breach of Contract means the failure of a Party to perform any of its obligations in accordance with this Contract, in whole or in part or in a timely or satisfactory manner. The institution of proceedings under any bankruptcy, insolvency, reorganization or similar law, by or against Contractor, or the appointment of a receiver or similar officer for Contractor or any of its property, which is not vacated or fully stayed within 30 days after the institution of such proceeding, shall also constitute a breach. If Contractor is debarred or suspended under §24-109-105, C.R.S. at any time during the term of this Contract, then such debarment or suspension shall constitute a breach.

  • Hold Harmless All parties hereby covenant and agree to: (1) indemnify and hold Holder harmless from and against all claims, injuries, suits and damages arising out of the performance by Holder of its duties; (2) not to xxx Xxxxxx for any decision of Holder to disburse xxxxxxx money in accordance with this Agreement. Seller warrants that Seller presently has title to said Property, and at the time the sale is consummated agrees to convey insurable title to said Property to Purchaser by Limited Warranty deed, subject only to (1) all zoning; general utility, sewer and drainage easements of record as of the Binding Agreement Date; (2) matters affecting title that would be disclosed by an accurate survey of the property, (3) Declaration of Covenants, conditions and restrictions of record on the Binding Agreement Date and (3) all taxes not yet due and payable. In the event there are leases on the property, Xxxxxxxxx agrees to assume Xxxxxx's responsibility thereunder to the tenant(s) and broker(s) who negotiated such leases. Purchaser shall have fifteen (15) days from the Binding Agreement Date to examine title and to furnish Seller a written statement of objections affecting the insurability of said title. Should Purchaser fail to furnish Seller with a written statement of objections within the time allotted, then Purchaser shall be deemed to have accepted title as is. Seller shall have forty-five

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Defects Liability Period means the warranty period following the taking over, during which the Contractor is responsible for making good, defects and damage in Goods and Services provided, under the Contract.

  • Special Damages shall have the meaning as set forth in Section 5.07.

  • Direct Damage has the meaning given to it in clause 26.2;

  • Punitive Damages are those damages awarded as a penalty, the amount of which is neither governed nor fixed by statute.

  • Unknown Claims means any Released Plaintiffs’ Claims which any Lead Plaintiff or any other Settlement Class Member does not know or suspect to exist in his, her or its favor at the time of the release of such claims, and any Released Defendants’ Claims which any Defendant or any other Defendants’ Releasee does not know or suspect to exist in his, her, or its favor at the time of the release of such claims, which, if known by him, her or it, might have affected his, her or its decision(s) with respect to this Settlement. With respect to any and all Released Claims, the Parties stipulate and agree that, upon the Effective Date of the Settlement, Lead Plaintiffs and Defendants shall expressly waive, and each of the other Settlement Class Members and each of the other Defendants’ Releasees shall be deemed to have waived, and by operation of the Judgment or the Alternate Judgment, if applicable, shall have expressly waived, any and all provisions, rights, and benefits conferred by any law of any state or territory of the United States, or principle of common law or foreign law, which is similar, comparable, or equivalent to California Civil Code §1542, which provides: