Template:Nutshell Equity Derivatives 9.12

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.