7.3 <em>IF REMEDY FAILS ESSENTIAL PURPOSE</em>. THE LIMITATION OF LIABILITY PROVISIONS SET FORTH IN THIS AGREEMENT SHALL APPLY EVEN IF A NON-BREACHING PARTY'S REMEDIES UNDER THIS AGREEMENT FAIL OF THEIR ESSENTIAL PURPOSE. EACH PARTY ACKNOWLEDGES AND AGREES THAT THE PARTIES ENTERED INTO THIS AGREEMENT IN RELIANCE UPON THE LIMITATIONS OF LIABILITY SET FORTH IN THIS SECTION 7, THAT THE SAME REFLECT AN ALLOCATION OF RISK BETWEEN THE PARTIES (INCLUDING THE RISK THAT A CONTRACT REMEDY MAY FAIL OF ITS ESSENTIAL PURPOSE AND CAUSE CONSEQUENTIAL LOSS), AND THAT THE SAME FORM AN ESSENTIAL BASIS OF THE BARGAIN BETWEEN THE PARTIES. 7.4 <em>Payment Adjustments for Other Proceeds</em>. Any monetary obligation by us to you under Section 1.3, Section 5.2, or Section 6.2 of this Agreement (<em>"<strong>Loss</strong>"</em>)is limited to the amount of any Loss that remains after deducting therefrom any insurance proceeds and any indemnity, contribution, or other payment actually received by you from a party other than us in respect of any such claim, less any directly related costs and expenses not to exceed $50,000.00 (<em>"<strong>Proceeds</strong>"</em>).