Common use of Interests of the Parties Clause in Contracts

Interests of the Parties. 6.1 The interest of the Parties in any gross profits and their respective shares in any losses and/or liabilities that may result from the filing of a joint bid and/or the performance of the Contract, and their interests in all property and equipment acquired and all money received in connection with the performance of the Contract shall be as follows: (Name Joint Venture Partner, Percentage) R▇▇▇▇ Development , Inc., 51%, X Technologies, 49%. 6.2 The Parties agree that in the event any losses arising out of or resulting from the performance of the Project, each Venturer shall assume and pay the share of the losses that is equal to the percentage of participation. 6.3 If for any reason, a Venturer sustains any liabilities or is required to pay any losses arising out of or directly connected with the Project, or the execution of any surety bonds or indemnity agreements in connection therewith, which are in excess of its Percentage of Participation, in the Joint Venture, the other Venturer shall promptly reimburse such Venturer this excess, so that each and every member of the Joint Venturer will then have paid its proportionate share of such losses to the full extent of its Percentage of Participation . 6.4 The Venturers agree to indemnify each other and to hold the other harmless from any and all losses of the Joint Venture that are in excess of such other Venturer’s Percentage of Participation provided that the provisions of this subsection shall be limited to losses that are directly connected with or arise out of the performance of the Project and/or the execution of any bonds or indemnity agreements in connection therewith and shall not relate to or include any incidental, indirect or consequential losses that may be sustained or suffered by a Party. 6.5 The Parties shall from time to time execute such bonds and indemnity agreements, including applications therefore and other documents that may be necessary in connection with the performance of the Project. Provided however, that the liability of each of the Parties under any agreements to indemnify a surety company or surety companies shall be limited to the percentage of the total liability assumed by all the Parties under such indemnity agreements that is equal to the Party’s Percentage of Participation.

Interests of the Parties. 6.1 The interest of the Parties in any gross profits and their respective shares in any losses and/or liabilities that may result from the filing of a joint bid and/or the performance of the Contract, and their interests in all property and equipment acquired and all money received in connection with the performance of the Contract shall be as follows: (Name Joint Venture Partner, Percentage) R▇▇▇▇ Development , Inc., 51%, X Technologies, 49%. 6.2 The Parties agree that in the event any losses arising out of or resulting from the performance perf01mance of the Project, each Venturer shall assume and pay the share of the losses that is equal to the percentage of participation. 6.3 If for any reason, a Venturer sustains any liabilities or is required to pay any losses arising out of or directly connected with the Project, or the execution of any surety bonds or indemnity agreements in connection therewith, which are in excess of its Percentage of Participation, in the Joint Venture, the other Venturer shall promptly reimburse such Venturer this excess, so that each and every member of the Joint Venturer will then have paid its proportionate share of such losses to the full extent of its Percentage of Participation . 6.4 The Venturers agree to indemnify each other and to hold the other harmless from any and all losses of the Joint Venture that are in excess of such other Venturer’s Percentage of Participation provided that the provisions of this subsection shall be limited to losses that are directly connected with or arise out of the performance of the Project and/or the execution of any bonds or indemnity agreements in connection therewith and shall not relate to or include any incidental, indirect or consequential losses that may be sustained or suffered by a Party. 6.5 The Parties shall from time to time execute such bonds and indemnity agreements, including applications therefore and other documents that may be necessary necessaiy in connection with the performance of the Project. Provided however, that the liability of each of the Parties under any agreements to indemnify a surety company or surety companies shall be limited to the percentage of the total liability assumed by all the Parties under such indemnity agreements that is equal to the Party’s Percentage of Participation.