Template:Nutshell Equity Derivatives 9.12: Difference between revisions

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Section {{eqderivprov|9.12}}. '''{{eqderivprov|Indemnification for Failure to Deliver}}'''. If, in respect of any obligation to deliver {{eqderivprov|Shares}} under a {{eqderivprov|Transaction}}, prior to the occurrence or effective designation of an {{isdaprov|Early Termination Date}} in respect of that {{eqderivprov|Transaction}}, a party fails to perform any obligation required to be settled by delivery, it will indemnify the other party on demand for any costs, losses or expenses (including the costs of borrowing the relevant {{eqderivprov|Shares}}, if applicable) resulting from such failure. A certificate signed by the deliveree setting out such costs, losses or expenses in reasonable detail will be conclusive evidence that they have been incurred. Notwithstanding the foregoing, unless the parties otherwise agree to the contrary expressly and in writing in the related {{eqderivprov|Confirmation}}, a party shall not be responsible for any special, indirect or consequential damages, even if informed of the possibility thereof. <br>
{{eqderivprov|9.12}}. '''{{eqderivprov|Indemnification for Failure to Deliver}}'''. If, absent a designatged {{isdaprov|Early Termination Date}}, a party fails to perform any delivery obligation, it will [[indemnify]] the other party on demand for any costs or expenses the other party incurs as a result. The deliveree’s signed certificate giving reasonable detail of those costs or expenses will be conclusive evidence that they have been incurred. However, no party will be liable for [[Consequential loss]] in any circumstances. <br>

Latest revision as of 10:55, 12 May 2022

9.12. Indemnification for Failure to Deliver. If, absent a designatged Early Termination Date, a party fails to perform any delivery obligation, it will indemnify the other party on demand for any costs or expenses the other party incurs as a result. The deliveree’s signed certificate giving reasonable detail of those costs or expenses will be conclusive evidence that they have been incurred. However, no party will be liable for Consequential loss in any circumstances.

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