Provision Language
9. Limitations on Liability
9.1 Aridis Obligations. Aridis shall be liable for its actions in accordance with the terms of this Agreement for (i) the performance of the Project Plan by Aridis; (ii) the acts of Aridis in connection with this Agreement; and (iii) the breach (by act or omission) of any of Aridis’ obligations, representations or warranties under this Agreement; except only to the extent such actions were caused by the gross negligence or willful misconduct of PVS. Aridis shall not be liable under a claim of product liability for any product developed, used or sold incorporating the formulation data or information or other deliverable hereunder or Background Intellectual Property rights or Project Intellectual Property rights delivered to PVS under this Agreement.
9.2 Limitation of Liability. In no event shall either party be liable to the other party for any indirect, incidental, exemplary, punitive, special or consequential damages (including loss of profit) of any kind whatsoever arising from this agreement or an act or omission by either party, whether based on breach of contract, breach of warranty, tort or any other legal theory.