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S&P Dow Jones Indices Limitation of Liability and Disclaimer of Warranties

(a) S&P DOW JONES INDICES, ITS SOURCES, CO-LICENSORS, S&P, DOW JONES, DISTRIBUTION AGENT, EACH OF THEIR RESPECTIVE AFFILIATES, AND EACH OF THEIR RESPECTIVE OFFICERS, DIRECTORS, MEMBERS, EMPLOYEES, AGENTS, REPRESENTATIVES (COLLECTIVELY, “S&P DOW JONES INDICES PARTIES”) SHALL NOT BE LIABLE TO ANY SUBSCRIBER FOR ANY LOSS OR DAMAGE, DIRECT, INDIRECT OR CONSEQUENTIAL, ARISING FROM:
- (1) ANY INACCURACY OR INCOMPLETENESS IN, OR DELAYS, INTERRUPTIONS, ERRORS OR OMISSIONS IN THE DELIVERY OF THE INDEX DATA
- (2) ANY DECISION MADE OR ACTION TAKEN BY ANY SUBSCRIBER OR OTHER THIRD PARTY IN RELIANCE UPON THE INDEX DATA.
 
NEITHER THE S&P DOW JONES INDICES PARTIES NOR VENDOR SHALL BE LIABLE TO THE OTHER PARTY OR TO ANY SUBSCRIBER OR OTHER THIRD PARTY FOR LOSS OF BUSINESS REVENUES, LOST PROFITS OR ANY PUNITIVE, INDIRECT, CONSEQUENTIAL, SPECIAL OR SIMILAR DAMAGES WHATSOEVER, WHETHER IN CONTRACT, TORT OR OTHERWISE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
 
IN NO EVENT SHALL THE CUMULATIVE LIABILITY OF THE S&P DOW JONES INDICES PARTIES ARISING OUT OF ANY LEGAL CLAIM IN ANY WAY CONNECTED TO THIS AGREEMENT (INCLUDING, WITHOUT LIMITATION, THE INDEX DATA) EXCEED THE VENDOR FEES PAID BY VENDOR HEREUNDER DURING THE TWELVE (12) MONTHS PRIOR TO THE INCIDENT GIVING RISE TO SUCH CLAIM. THE LIMITATIONS OF LIABILITY SET FORTH IN THIS SECTION SHALL NOT APPLY TO THE INDEMNIFICATION OBLIGATIONS SET FORTH IN THIS AGREEMENT OR TO DAMAGES RESULTING FROM EITHER PARTY’S GROSS NEGLIGENCE, WILLFUL MISCONDUCT OR BREACH OF ITS CONFIDENTIALITY OBLIGATIONS UNDER THIS AGREEMENT.
 
(b) SUBSCRIBER EXPRESSLY ACKNOWLEDGES THAT THE S&P DOW JONES INDICES PARTIES DO NOT MAKE ANY WARRANTIES, EXPRESS OR IMPLIED, TO SUBSCRIBER OR OTHER THIRD PARTY WITH RESPECT TO THE INDEX DATA, INCLUDING, WITHOUT LIMITATION:
- (1) ANY WARRANTIES WITH RESPECT TO THE TIMELINESS, SEQUENCE, ACCURACY, COMPLETENESS, CURRENTNESS, MERCHANTABILITY, QUALITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE INDEX DATA
- (2) ANY WARRANTIES AS TO THE RESULTS TO BE OBTAINED BY SUBSCRIBER, END USER OR ANY OTHER PERSON OR ENTITY IN CONNECTION WITH THE USE OF THE INDEX DATA.