Limitation of Liability UNDER NO CIRCUMSTANCE SHALL THE GASKET FACTORY BE LIABLE TO BUYER OR ANY OTHER PERSON FOR ANY INCIDENTAL, INDIRECT, PUNITIVE, SPECIAL, CONSEQUENTIAL OR SIMILAR DAMAGES INCLUDING, BUT NOT LIMITED TO, DAMAGES TO PERSON OR PROPERTY, REWORK, INVESTIGATION AND REPAIR OR REPLACEMENT COST, LOSS OF PROFITS, INCREASED COSTS OF OPERATIONS, DIMINUATION IN VALUE OR LOSS OF GOODWILL ARISING OUT OF OR IN CONNECTION WITH THE SALE, INSTALLATION OR USE OF THE GOODS OR THESE TERMS AND CONDITIONS OF SALE. IN THE EVENT THE GASKET FACTORY IS FOUND TO HAVE ANY LIABILITY FOR ANY REASON WHATSOEVER REGARDLESS OF WHETHER SUCH LIABILITY ARISES IN TORT, CONTRACT, LAW, EQUITY OR OTHERWISE, THE MAXIMUM AGGREGATE LIABILITY OF THE GASKET FACTORY TO BUYER SHALL BE LIMITED IN ALL CIRCUMSTANCES TO THE PRICE PAID BY BUYER TO THE GASKET FACTORY FOR SUCH GOODS IN THE SPECIFIC TRANSACTION GIVING RISE TO THE DAMAGE OR LOSS. THE LIMITATION OF LIABILITY IS A CONDITION TO THE SALE OF THE GOODS BY THE GASKET FACTORY AT THE PRICE. THE PARTIES ACKNOWLEDGE THAT THE PRICE PAYABLE FOR THE GOODS WOULD HAVE BEEN SUBSTANTIALLY GREATER IN THE ABSENCE OF THIS LIMITATION OF LIABILITY WHICH SHALL APPLY IN ALL CIRCUMSTANCES. 12. Indemnity Buyer shall be responsible for the installation, maintenance, operation and use of the goods and for any injury, damage, destruction, loss, damages or expenses, caused by the goods and THE GASKET FACTORY shall have no liability in relation thereto. Buyer shall indemnify, hold harmless and defend THE GASKET FACTORY and its employees, officers, directors and agents from and against any action, cause of action, judgment or claim for damages to property (including environmental damages) or bodily injury, loss of life, liability of any nature (including the violation of any applicable laws or regulations in connection with the sale, transportation, installation, use or repair by Buyer of the goods sold, supplied or delivered by THE GASKET FACTORY), costs, or expenses including reasonable legal fees to the extent caused by the negligent act or omission or willful misconduct of or breach of these Terms and Conditions of Sale by Buyer. Where Buyer has supplied the design for all or any part of the goods, Buyer also agrees to indemnify, hold harmless and defend THE GASKET FACTORY and its employees, officers, directors and agents from and against any action, cause of action, judgment or claim for damages to property (including environmental damages) or bodily injury, loss of life, liability of any nature (including the violation of any applicable laws or regulations in connection with the sale, transportation, installation, use or repair by Buyer of the goods sold, supplied or delivered by THE GASKET FACTORY), costs, or expenses including reasonable legal fees arising from or in connection with any claim that the goods or any part thereof infringe any patent, industrial design or any other intellectual property right. 13. Security THE GASKET FACTORY may require Buyer to provide satisfactory security prior to the purchase of any goods. THE GASKET FACTORY retains the right to register a lien or encumbrance against the goods or other property of the Buyer in which the goods are incorporated. In the event title to the goods vests in Buyer prior to payment of the Price, THE GASKET FACTORY shall retain a security interest in the goods to secure Buyer's obligation. Buyer hereby grants THE GASKET FACTORY a Purchase Money Security Interest (as defined in applicable statute) in the goods and all proceeds thereof. THE GASKET FACTORY shall have all remedies available under applicable personal property legislation to enforce as a secured party in the event of non-payment. 14. Tooling and Fixtures Unless otherwise specified in writing, tooling charges quoted and/or invoiced by THE GASKET FACTORY represent only a part of the actual cost of same and therefore does not entitle the Buyer to ownership of the tooling or fixtures purchased or made by THE GASKET FACTORY for the sale of goods to Buyer belonging to THE GASKET FACTORY, even in cases where some or all of the cost of such tooling or fixtures is paid by Buyer.. THE GASKET FACTORY agrees to maintain, at its expenses, such tooling in good working condition.
