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MBIA MUNISERVICES COMPANY (MMC) 1 - 2006
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MBIA MUNISERVICES COMPANY (MMC) 1 - 2006
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Last modified
6/10/2014 4:43:57 PM
Creation date
11/15/2006 1:24:07 PM
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Contracts
Company Name
MBIA MUNISERVICES COMPANY (MMC)
Contract #
A-2006-220
Agency
Finance & Management Services
Council Approval Date
8/21/2006
Expiration Date
10/1/2009
Insurance Exp Date
10/31/2013
Destruction Year
2017
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7. TAXES <br />Taxes. Customer shall reimburse MMC for (or pay directly, but only if instructed by MMC) all foreign, <br />federal, state and local fees, taxes and tax - related surcharges (other than taxes based on MMC's net income) that may <br />be imposed by any taxing authority on the Services or on the delivery, possession, operation, rental or return or the <br />Services (collectively, "Taxes "). Customer is liable for these Taxes whether they are imposed upon MMC, Customer, <br />the Services, this Agreement or any applicable Order Form. If Customer is required by law or administrative practice <br />to make any report or return with respect to such Taxes, Customer shall promptly advise MMC thereof in writing. <br />MMC has no obligation to contest any such Taxes, however Customer may do so provided that: (a) Customer does so <br />in its own name and at its own expense; (b) Customer indemnifies MMC for all expenses (including reasonable legal <br />fees and costs), liabilities and losses that MMC incurs as a result of any such contest. <br />Deductions and Withholding. All payments due hereunder shall be made free and clear without deduction or <br />withholding of, any and all present and future Taxes. In the event that any payment to be made to MMC hereunder <br />should be subject to any reduction by reason of a required deduction or withholding of any Tax, Customer agrees to <br />pay MMC such further amounts so that the aggregate net amount received by MMC after deduction or withholding of <br />any Taxes, shall be the same amount as would have been received by MMC if there had been no requirement to <br />deduct or withhold any Taxes. <br />8. WARRANTIES <br />Warranty. MMC warrants that the Services provided hereunder shall be provided by persons with the <br />knowledge and skills necessary and consistent with standards of professionalism prevalent in the industry. The <br />Services shall be provided free and clear of the claims of third parties and shall properly process any date /rime fields <br />with regards to the change of century or a leap year. This statement represents the full and complete warranty <br />statement of MMC hereunder. All references to future products are for guidance purposes only and the actual <br />functionality, performance and release dates of these products cannot be guaranteed. You should not rely on the <br />potential availability of any future products, functionality or feature, or any statement or representation by MMC or its <br />employees in marketing literature or elsewhere concerning the potential availability of any future product, <br />functionality or feature, in agreeing to your current license purchase. <br />Disclaimer. CUSTOMER ASSUMES TOTAL RESPONSIBILITY FOR CUSTOMER'S USE OF THE <br />SERVICES PROVIDED BY MMC. CUSTOMER UNDERSTANDS AND AGREES FURTHER THAT THE <br />INTERNET IS ACCESSIBLE BY PERSONS WHO MAY ATTEMPT TO BREACH THE SECURITY OF MMC'S <br />AND /OR CUSTOMER'S NETWORK. MMC EXPRESSLY DISCLAIMS ANY LIABILITY OR <br />RESPONSIBILITY WHATSOEVER FOR THE ACTIONS OF MALICIOUS THIRD PARTIES AND CUSTOMER <br />AND CUSTOMER'S USERS ACCESS THE INTERNET AT THEIR OWN RISK. TO THE MAXIMUM EXTENT <br />PERMITTED BY LAW AND EXCEPT AS SPECIFICALLY SET FORTH HEREIN, THE SERVICES PROVIDED <br />BY MMC ARE PROVIDED WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, <br />INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A <br />PARTICULAR PURPOSE. NO ADVICE OR INFORMATION GIVEN BY MMC, ITS AFFILIATES OR ITS <br />CONTRACTORS OR THEIR RESPECTIVE OFFICERS, DIRECTORS OR EMPLOYEES SHALL CREATE A <br />WARRANTY OR OBLIGATION OF MMC EXCEPT AS EXPRESSLY SET FORTH HEREIN. <br />9. LIMITATION OF LIABILITY; INDEMNIFICATION <br />TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL MMC, ITS AFFILIATES <br />OR AGENTS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL <br />DAMAGES OR LOST OR IMPUTED PROFITS OR ROYALTIES, LOST DATA OR COST OF PROCUREMENT <br />OF SUBSTITUTE GOODS OR SERVICES ARISING FROM OR RELATED TO THE SERVICES OR THIS <br />AGREEMENT WHETHER FOR, AMONG OTHER THINGS, BREACH OF WARRANTY OR ANY OBLIGATION <br />ARISING THEREFROM, AND WHETHER LIABILITY IS ASSERTED IN CONTRACT OR TORT (INCLUDING <br />BUT NOT LIMITED TO NEGLIGENCE AND STRICT PRODUCT LIABILITY) WHETHER OR NOT MMC HAS <br />BEEN ADVISED OF THE POSSIBILITY OF ANY SUCH LOSS OR DAMAGE. MMC'S LIABILITY <br />HEREUNDER SHALL IN NO EVENT EXCEED AN AMOUNT EQUAL TO THE ANNUAL FEE PAID BY <br />CUSTOMER FOR THE AFFECTED SERVICE TO WHICH THE CLAIM PERTAINS. The foregoing sets forth <br />Customer's exclusive remedy for claims arising from or out of this Agreement. The provisions of this section allocate <br />the risks between MMC and Customer and MMC's pricing reflects the allocation of risk and limitation of liability <br />specified herein. <br />MMC Services Agreement Page 22 <br />
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