Template:IETA Master Agreement 17

17 Liabilities
17.1 No Consequential Loss. Except to the extent included in any payment made in accordance with Clauses 5.3 (No Encumbrances), 12.1 (Failure to Transfer), 12.2 (Failure to Accept), 13.2 (Force Majeure Termination Payment), 14.6 (Termination Payments) or 14.7 (Illegality), neither Party is liable to the other, whether in contract, tort (including negligence and breach of duty) or otherwise at law, for any business interruption or loss of use, profits, contracts, production, or revenue or for any consequential or indirect loss or damage of any kind however arising.
17.2 Breach of Warranty. Neither Party shall be liable in respect of any breach of warranty under Clause 4 (General Obligations, Representations and Warranties) in relation to any Transaction for any greater sum than it would be liable for under Clause 14 (Termination) in relation to such Transaction for any breach of Clause 5 (Allowance Transfers) or 6 (Effecting Transfers).
17.3 Unlimited Liability. Notwithstanding anything to the contrary contained in this Agreement, the liability of a Party to the other Party for:

17.3(a) death or personal injury resulting from negligence of the Party liable, its employees, agents and contractors; or

17.3(b) fraud or fraudulent misrepresentation

is unlimited save that nothing in this Clause 17.3 confers a right or remedy upon the other Party to which that Party would not otherwise have been entitled.
17.4 Reasonable Pre-estimate and Maximum Liability. Each Party acknowledges that the payment obligations in Clauses 12.1 (Failure to Transfer), 13 (Force Majeure and Suspension Event) and 14 (Termination) are reasonable in the light of the anticipated harm and the difficulty of estimation or calculation of actual damages. Each Party waives the right to contest those payments as an unreasonable penalty. Each Party further acknowledges that the payment obligation in Clause 14 (Termination) shall constitute the maximum liability in the event of termination of this Agreement.
17.5 Sole Remedy. The rights to suspend, take action, terminate, liquidate and accelerate and to be paid a Termination Payment under Clause 14 (Termination), together with any interest arising thereunder are in full and final satisfaction of the rights of the Non-Defaulting Party if an Event of Default occurs in respect of the Defaulting Party.