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How is Direct Damages defined in a legal contract?

1. Direct Damages means actual damages or losses, not including any compensation for special, punitive, indirect, incidental or consequential damages or losses, including but not limited to loss of profits, business or value, whether or not foreseeable. Seen in 106 SEC filings
2. Direct Damages means actual, direct losses incurred by the claiming party and doesn't include indirect, special, incidental, exemplary, punitive or consequential damages, even if the other party has been advised of the possibility of such damages. Seen in 18 SEC filings
3. Direct Damages means compensation for losses calculated and paid on an After-Tax Basis, net of Insurance Proceeds. Seen in 17 SEC filings
4. Direct Damages means compensation for losses measured by § (1). Seen in 9 SEC filings
5. Direct Damages means compensation for losses measured by §§ (1) or § (1). Seen in 6 SEC filings

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Which definition should you use?

🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Direct Damages means actual, direct losses, excluding any indirect or special damages.

Relevant Contract Type

• Purchase Agreements
• Service Contracts
• Business Partnership Agreement
• Licensing Agreements

Relevant Circumstances

• Breach of contract disputes
• Resolution of issues relating to tangible losses
• Legal proceedings concerning direct financial losses

Relevant Sectors

• Healthcare
• Retail
• Manufacturing
• Technology
• Construction

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Genie Definition 3

Direct Damages means compensation for losses measured by § [clause].

Relevant Contract Type

• Court Judgments
• Legal Settlements

Relevant Circumstances

• Judicial decisions concerning damages
• Legal proceedings involving compensation claims

Relevant Sectors

• Legal
• Public Sector

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