Losses definition: Copy, customize, and use instantly
Introduction
The term "Losses" refers to the financial detriment, damages, or liabilities incurred by a party due to specific events or circumstances defined in a contract. It is essential for identifying the scope of responsibility for potential financial impacts resulting from breaches, defaults, or other adverse occurrences.
Below are various examples of how "Losses" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Losses" as direct financial losses
This definition ties "Losses" to direct financial harm suffered by a party.
"Losses" means any direct financial losses incurred by a party as a result of a breach of the agreement, including but not limited to lost profits, costs to remedy a breach, and direct damages directly related to the breach.
Definition of "Losses" as incurred liabilities
This definition connects "Losses" to liabilities incurred by the party.
"Losses" refers to any liabilities, damages, costs, or expenses incurred by a party, including legal fees, as a result of a breach of contract or other events covered under this agreement.
Definition of "Losses" as total damages suffered
This definition links "Losses" to the total damages suffered by a party.
"Losses" means the total amount of damages, expenses, or liabilities suffered by a party as a result of an event or breach, including both direct and indirect damages, but excluding any consequential or punitive damages.
Definition of "Losses" as financial impact
This definition applies "Losses" to the financial impact on a party.
"Losses" refers to the financial impact on a party resulting from a breach or failure to perform under the agreement, including lost revenue, lost profits, and any other financial detriment directly tied to the event.
Definition of "Losses" as consequential losses
This definition connects "Losses" to consequential or indirect damages.
"Losses" means any consequential or indirect damages, including but not limited to loss of business, reputational damage, or any other losses that occur as a result of a breach or event specified under the agreement.
Definition of "Losses" as losses resulting from third-party claims
This definition links "Losses" to third-party claims.
"Losses" refers to any amounts paid or payable by a party as a result of claims, lawsuits, or legal actions brought by third parties against that party, including damages, settlement amounts, and legal expenses.
Definition of "Losses" as incurred costs from business interruption
This definition ties "Losses" to business interruption costs.
"Losses" means any costs or damages incurred due to a disruption in the party's business operations, including costs associated with delays, loss of productivity, and interruptions caused by an event covered by the agreement.
Definition of "Losses" as environmental damage
This definition connects "Losses" to environmental harm.
"Losses" refers to any damages or financial detriment arising from environmental harm caused by a breach of the agreement, including cleanup costs, regulatory fines, and any other costs associated with environmental damage.
Definition of "Losses" as loss of goodwill
This definition links "Losses" to the loss of goodwill or customer relationships.
"Losses" means any loss of goodwill, customer relationships, or market share resulting from the actions or omissions covered by the agreement, including damages to the reputation of a party.
Definition of "Losses" as losses from delays
This definition ties "Losses" to delays or failure to meet deadlines.
"Losses" refers to any damages, costs, or financial detriment resulting from delays in performance, including any penalties, loss of business, or additional expenses incurred due to the delay.
Definition of "Losses" as losses from negligence
This definition connects "Losses" to negligence.
"Losses" means any damages or liabilities incurred as a result of a party's negligence, including direct damages, legal costs, and any related expenses stemming from negligent actions or omissions.
Definition of "Losses" as losses arising from breach of confidentiality
This definition links "Losses" to breaches of confidentiality.
"Losses" refers to any damages, liabilities, or expenses incurred as a result of a breach of confidentiality, including the loss of confidential information, reputational damage, or legal consequences stemming from the breach.
Definition of "Losses" as losses arising from failure to comply with regulations
This definition ties "Losses" to non-compliance with regulations.
"Losses" means any costs, fines, penalties, or damages arising from a party’s failure to comply with applicable laws, regulations, or standards, including those resulting from governmental actions or legal enforcement.
Definition of "Losses" as losses from an uninsured event
This definition connects "Losses" to uninsured events.
"Losses" refers to any financial impact resulting from events that are not covered by insurance, including direct costs and liabilities that the party must bear due to the lack of coverage for specific risks.
Definition of "Losses" as loss of inventory
This definition ties "Losses" to inventory losses.
"Losses" means any financial detriment resulting from the loss, theft, or damage to inventory, including the cost of replacement or repairs and the loss of market value.
Definition of "Losses" as financial impact from fraud
This definition connects "Losses" to fraud-related losses.
"Losses" refers to any financial detriment incurred as a result of fraudulent activities, including monetary damages, investigative costs, and any resulting liabilities from fraudulent acts.
Definition of "Losses" as legal expenses
This definition links "Losses" to legal costs.
"Losses" means any legal expenses incurred by a party, including attorneys' fees, court costs, and other legal costs associated with resolving disputes arising from the contract or other events.
Definition of "Losses" as losses from intellectual property infringement
This definition ties "Losses" to intellectual property violations.
"Losses" refers to damages resulting from the infringement of intellectual property rights, including compensation for lost revenue, royalties, and the costs associated with enforcing intellectual property protections.
Definition of "Losses" as loss due to regulatory fines
This definition connects "Losses" to regulatory penalties.
"Losses" means any financial penalties, fines, or sanctions imposed by a regulatory authority as a result of non-compliance with laws, regulations, or contractual terms.
Definition of "Losses" as market value reduction
This definition links "Losses" to reduced market value.
"Losses" refers to any reduction in the market value of assets or property, including the devaluation of shares, real estate, or other tangible and intangible assets.
Definition of "Losses" as compensation for personal injury
This definition ties "Losses" to personal injury claims.
"Losses" means any damages or compensation paid due to personal injury claims, including medical expenses, pain and suffering, and compensation for loss of income or employment.
Definition of "Losses" as loss of key employees
This definition connects "Losses" to employee turnover.
"Losses" refers to any financial impact resulting from the loss of key employees, including recruitment costs, training expenses, and the loss of expertise or productivity.
Definition of "Losses" as losses from breach of warranty
This definition links "Losses" to warranty breaches.
"Losses" means any damages or liabilities arising from the breach of warranty, including the cost of repairs, replacements, and any consequential or incidental damages caused by the failure to meet warranty terms.
Definition of "Losses" as losses due to service interruptions
This definition ties "Losses" to service outages.
"Losses" refers to any financial impact resulting from the interruption or suspension of services, including lost revenue, additional operational costs, and compensation to affected parties.
Definition of "Losses" as damages from product defects
This definition connects "Losses" to product defects.
"Losses" means any damages, liabilities, or costs arising from the sale or distribution of defective products, including the costs of recalls, repairs, and customer compensation.
Definition of "Losses" as loss of business opportunities
This definition links "Losses" to missed business opportunities.
"Losses" refers to any financial impact resulting from the loss of business opportunities, including the inability to capitalize on potential deals, contracts, or markets due to a breach or failure under the agreement.
Definition of "Losses" as losses from a delayed project
This definition ties "Losses" to project delays.
"Losses" means any financial damages or costs incurred as a result of delays in the completion of a project, including penalties, lost revenue, and additional expenses related to the delay.
Definition of "Losses" as liabilities from breach of confidentiality
This definition connects "Losses" to confidentiality breaches.
"Losses" refers to any damages or liabilities incurred from a breach of confidentiality, including loss of proprietary information, competitive harm, and legal costs.
Definition of "Losses" as losses from reputational damage
This definition links "Losses" to reputational harm.
"Losses" means any financial detriment resulting from damage to a party's reputation, including loss of customer trust, market position, and brand equity.
Definition of "Losses" as environmental liabilities
This definition ties "Losses" to environmental harm.
"Losses" refers to any damages, liabilities, or costs arising from environmental harm or non-compliance with environmental laws, including cleanup costs and penalties imposed by environmental authorities.
Definition of "Losses" as losses from a change in law
This definition connects "Losses" to legal changes.
"Losses" means any financial damage or liability resulting from a change in applicable law, including new regulations or changes to existing law that affect the contract or its performance.
Definition of "Losses" as penalties from failure to perform
This definition links "Losses" to performance failure.
"Losses" refers to any penalties, fees, or liabilities incurred due to a failure to perform contractual obligations, including late performance or incomplete delivery of goods or services.
Definition of "Losses" as losses from cybersecurity breaches
This definition ties "Losses" to cybersecurity events.
"Losses" means any damages, costs, or liabilities arising from a cybersecurity breach, including data recovery, legal expenses, customer notification, and fines from regulatory bodies.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.