Common use of Contribution Procedure Clause in Contracts

Contribution Procedure. Within fifteen (15) days after receipt by any party to this Agreement (or its representative) of notice of the commencement of any action, suit or proceeding, such party will, if a claim for contribution in respect thereof is to be made against another party (a “contributing party”), notify the contributing party of the commencement thereof, but the failure to so notify the contributing party will not relieve it from any liability which it may have to any other party other than for contribution hereunder. In case any such action, suit or proceeding is brought against any party, and such party notifies a contributing party of the commencement thereof within the aforesaid fifteen (15) days, the contributing party will be entitled to participate therein with the notifying party. Any such contributing party shall not be liable to any party seeking contribution on account of any settlement of any claim, action or proceeding effected by such party seeking contribution without the written consent of such contributing party.

Appears in 2 contracts

Sources: Placement Agency Agreement (Artelo Biosciences, Inc.), Placement Agency Agreement (Artelo Biosciences, Inc.)

Contribution Procedure. Within fifteen (15) days after receipt by any party to this Agreement (or its representative) of notice of the commencement of any action, suit or proceeding, such party will, if a claim for contribution in respect thereof is to be made against another party (a “contributing party”), notify the contributing party of the commencement thereof, but the failure omission to so notify the contributing party will not relieve it from any liability which it may have to any other party other than for contribution hereunder. In case any such action, suit or proceeding is brought against any party, and such party notifies a contributing party or its representative of the commencement thereof within the aforesaid fifteen (15) days, the contributing party will be entitled to participate therein with the notifying partyparty and any other contributing party similarly notified. Any such contributing party shall not be liable to any party seeking contribution on account of any settlement of any claim, action or proceeding effected by such party seeking contribution on account of any settlement of any claim, action or proceeding effected by such party seeking contribution without the written consent of such contributing party.. The contribution provisions

Appears in 2 contracts

Sources: Underwriting Agreement (Federal Services Acquisition CORP), Underwriting Agreement (Federal Services Acquisition CORP)

Contribution Procedure. Within fifteen (15) days after receipt by any party to this Agreement (or its representativerepresentatives) of notice of the commencement of any action, suit or proceeding, such party will, if a claim for contribution in respect thereof is to be made against another party (a “contributing party”), notify the contributing party of the commencement thereof, but the failure omission to so notify the contributing party will not relieve it from any liability which it may have to any other party other than for contribution hereunder. In case any such action, suit or proceeding is brought against any party, and such party notifies a contributing party or its representatives of the commencement thereof within the aforesaid fifteen (15) days, the contributing party will be entitled to participate therein with the notifying party. Any such contributing party shall not be liable to and any party seeking contribution on account of any settlement of any claim, action or proceeding effected by such party seeking contribution without the written consent of such other contributing party.

Appears in 1 contract

Sources: Managing Broker Agreement (Ministry Partners Investment Company, LLC)

Contribution Procedure. Within fifteen (15) 15 days after receipt by any party to this Agreement (or its representative) of notice of the commencement of any action, suit or proceeding, such party will, if a claim for contribution in respect thereof is to be made against another party (a “"contributing party"), notify the contributing party of the commencement thereof, but the failure to so notify the contributing party will not relieve it from any liability which it may have to any other party other than for contribution hereunder. In case any such action, suit or proceeding is brought against any party, and such party notifies a contributing party or its representative of the commencement thereof within the aforesaid fifteen (15) days, the contributing party will be entitled to participate therein with the notifying partyparty and any other contributing party similarly notified. Any such contributing party shall not be liable to any party seeking contribution on account of any settlement of any claim, action or proceeding effected affected by such party seeking contribution without the written consent of such contributing party. The contribution provisions contained in this Section 6.4 are intended to supersede, to the extent permitted by law, any right to contribution under the Securities Act, the Exchange Act or otherwise available.

Appears in 1 contract

Sources: Underwriting Agreement (S&W Seed Co)

Contribution Procedure. Within fifteen (15) days after receipt by any party to this Agreement (or its representative) of notice of the commencement of any action, suit or proceedingProceeding, such party will, if a claim for contribution in respect thereof is to be made against another party (a contributing partyContributing Party”), notify the contributing party Contributing Party of the commencement thereof, but the failure omission to so notify the contributing party Contributing Party will not relieve it from any liability which it may have to any other party other than for contribution hereunder. In case any such action, suit or proceeding Proceeding is brought against any party, and such party notifies a contributing party Contributing Party or its representative of the commencement thereof within the aforesaid fifteen (15) days, the contributing party Contributing Party will be entitled to participate therein with the notifying partyparty and any other Contributing Party similarly notified. Any such contributing party Contributing Party shall not be liable to any party seeking contribution on account of any settlement of any claim, action or proceeding effected Proceeding affected by such party seeking contribution without the written consent of such contributing partyContributing Party. The contribution provisions contained in this Section are intended to supersede, to the extent permitted by law, any right to contribution under the Act, the Exchange Act or otherwise available.

Appears in 1 contract

Sources: Underwriting Agreement (BGIN BLOCKCHAIN LTD)

Contribution Procedure. Within fifteen (15) days after receipt by any party to this Agreement (or its representative) of notice of the commencement of any action, suit or proceeding, such party will, if a claim for contribution in respect thereof is to be made against another party (a contributing partyContributing Party”), notify the contributing party of the commencement thereof, but the failure to so notify the contributing party Contributing Party will not relieve it from any liability which it may have to any other party other than for contribution hereunder. In case any such action, suit or proceeding is brought against any party, and such party notifies a contributing party Contributing Party or its representative of the commencement thereof within the aforesaid fifteen (15) days, the contributing party Contributing Party will be entitled to participate therein with the notifying party. Any such contributing party shall not be liable to and any party seeking contribution on account of any settlement of any claim, action or proceeding effected by such party seeking contribution without the written consent of such contributing party.other Contributing Party similarly

Appears in 1 contract

Sources: Placement Agency Agreement (Niocorp Developments LTD)