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What is the liability cap for environmental breach in the MSA?
The liability cap is expressly limited to $1,250,000 for Direct Environmental Damages, provided the breach was not the result of gross negligence. This cap is subject to annual adjustment per the CPI index as defined in Schedule C.
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What is the liability cap for environmental breach?
The liability cap is expressly limited to $1,250,000 for Direct Environmental Damages, provided that such breach was not the result of gross negligence.
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The indemnification obligation is capped at $2.5M aggregate and applies only to third-party claims arising from breach of representations under Section 5.
7.1 Each Party shall indemnify and hold harmless the other Party against any losses arising from material breach of this Agreement.
7.2(a) The aggregate liability for indemnification under this Article shall not exceed Two Million Five Hundred Thousand Dollars ($2,500,000).
7.3 The indemnifying Party shall have sole control of the defense of any claim subject to this Article.
7.4 This obligation extends only to third-party claims arising from breach of representations in Section 5.
7.5 The limitations set forth in this Section shall not apply to breaches of confidentiality obligations...
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