500k Carve Out Explanation

Summary

A carve-out involves setting aside a specific amount, like £500k, for a particular purpose. In contract law, it can be used to allocate funds for confidentiality and data protection. A limitation of liability clause can include such a carve-out, specifying that liability for breaches in these areas is capped at £500k. Always consult a legal professional to ensure clauses meet your specific needs.

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Can you draft a limitation of liability clause with a £500k carve out for confidentiality and data protection
Certainly! Here's a draft for a limitation of liability clause with a £*,* carve-out for confidentiality and data protection:
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Limitation of Liability
*. General Liability: Except as provided in Clause *, the liability of [Party A] to [Party B] arising under or in connection with this Agreement, whether in contract, tort (including negligence), or otherwise, shall be limited to the total amount of £[X].
*. Carve-Out for Confidentiality and Data Protection: Notwithstanding Clause *, [Party A]'s liability for breaches of confidentiality obligations or data protection violations shall not exceed £*,*.
*. Exclusions: Neither party shall be liable for any indirect, incidental, special, or consequential damages arising out of or in connection with this Agreement.
*. Unlimited Liability: Nothing in this clause shall limit or exclude liability for death or personal injury caused by negligence, fraud, or fraudulent misrepresentation.
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It's always advisable to have a legal professional review any clauses for your specific needs and circumstances.