(a) The total liability of a Party (Liable Party) to the other Party for any losses, damages or claims arising out of, or in connection with, this Agreement is limited in the aggregate to the greater of:
(1) the AD Payment Amount; and
(2) the amount which the Liable Party and any Member (if the Liable Party is the Proponent) are able to recover under a policy of insurance taken out by the Liable Party or the Member (whether separately or together) under this Agreement or otherwise taken out or maintained by the Project Owner or the Proponent (including any Member),
(b) The Limit of Liability is an aggregate limit of liability for all losses, damages or claims arising in relation to, or in connection with, this Agreement. The Limit of Liability does not apply where the loss, damage or claim:
(1) relates to any death, personal injury or damage to property; or
(2) arises out of fraud of the Liable Party or its officers, agents, contractors or employees or any Member (if the Liable Party is the Proponent).