Template:EFET Allowance Annex 12: Difference between revisions

§ {{euaprov|12}} '''{{euaprov|Limitation of Liability}}'''. For the avoidance of doubt, the Parties agree that if an {{efetaprov|EEP}} or {{efetaprov|EEP Equivalent}} applies to an {{efetaprov|Allowance Transaction}} such {{efetaprov|EEP}} or {{efetaprov|EEP Equivalent}} shall not be considered an indirect or consequential damage of the type excluded from recovery of damages by § {{efetprov|12.3}} (''{{efetprov|Consequential Damage and Limitation of Liability}}'') of the {{efetprov|General Agreement}}, and that such maximum amount of such {{efetaprov|EEP}} or {{efetaprov|EEP Equivalent}}, being an amount identifiable by them at the time of entering into their {{efetaprov|Allowance Transaction}}, is neither speculative nor difficult to ascertain. The Parties further agree and acknowledge that the formulae providing for calculating the amount of {{efetaprov|EEP}} and {{efetaprov|EEP Equivalent}} in this {{efetaprov|Allowances Appendix}} are reasonable in light of the anticipated harm that would be incurred by a {{efetaprov|Buyer}} and are therefore a genuine pre-estimate of the nature and magnitude of such harm. Further, the payment of such damages is not viewed by either Party as a penalty or in the nature of a penalty and each Party waives the right to contest those payments as an unreasonable penalty. In addition, the Parties agree to amend § {{efetprov|12.3(a)}} (''{{efetprov|Consequential Damage and Limitation of Liability}}'') of the {{efetprov|General Agreement}} by adding the words “(other than with respect to a claim under § {{efetaprov|6.3}} ({{efetaprov|No Encumbrances}}))” after the words “consequential Damages” in the first line thereof. Except to the extent otherwise modified herein by the Parties, there shall be no further changes to § {{efetprov|12}} (''{{efetprov|Limitation of Liability}}'') of the {{efetprov|General Agreement}} with respect to {{efetaprov|Allowance Transaction}}s. <br>