Common use of Judgment Reduction Clause in Contracts

Judgment Reduction. a. To the extent any Person is barred, enjoined, or restrained by paragraph 10 of this Bar Order and Judgment, such Person (the “Non-Settlor”) shall be entitled to the reduction of any verdict, judgment, or award against it on a claim concerning Stanford, in any Forum, to the extent that such Forum finds that the Non-Settlor and the Kroll Released Parties were joint tortfeasors respecting such claim. Such reduction shall be the greater of: (a) an amount that corresponds to the percentage of responsibility of the Kroll Released Parties, or (b) such other amount as may be required by law. Nothing in this Bar Order and Judgment shall impair or affect or be construed to impair or affect in any way whatsoever, any right of any Person to: (a) claim a credit or offset in any litigation against such Person, however determined or quantified, if and to the extent provided for by the foregoing sentence, against any judgment amount, based upon the Settlement or payment of the Settlement Amount; (b) designate a “responsible third party” or “settling person” under Chapter 33 of the Texas Civil Practice and Remedies Code; or (c) take discovery under applicable rules in other litigation; provided for the avoidance of doubt that nothing in this sentence shall be interpreted to (1) permit or authorize any claim or Settled Claim seeking to recover any monetary or other relief from the Kroll Released Parties, (2) permit or authorize the commencement, assertion or continuation of any claim or Settled Claim against the Kroll Released Parties, including any claim or Settled Claim seeking to impose any liability of any kind (including but not limited to liability for contribution, indemnification or otherwise) upon the Kroll Released Parties, or (3) impair or affect or be construed to impair or affect in any way whatsoever, any right of the Kroll Released Parties to contest discovery. b. In no event shall the Kroll Released Parties be responsible to pay any amount to any Person based on the amount or method or absence of reduction of any verdict, judgment, or award on a claim concerning Stanford.

Judgment Reduction. a. To the extent any Person is barred, enjoined, or restrained by paragraph 10 of this Bar Order and Judgment, such Person (the “Non-Settlor”) shall be entitled to the reduction of any verdict, judgment, or award against it on a claim concerning Stanford, in any Forum, to the extent that such Forum finds that the Non-Settlor and the Kroll ▇▇▇▇▇ Released Parties were joint tortfeasors respecting such claim. Such reduction shall be the greater of: (a) an amount that corresponds to the percentage of responsibility of the Kroll ▇▇▇▇▇ Released Parties, or (b) such other amount as may be required by law. Nothing in this Bar Order and Judgment shall impair or affect or be construed to impair or affect in any way whatsoever, any right of any Person to: (a) claim a credit or offset in any litigation against such Person, however determined or quantified, if and to the extent provided for by the foregoing sentence, against any judgment amount, based upon the Settlement or payment of the Settlement Amount; (b) designate a “responsible third party” or “settling person” under Chapter 33 of the Texas Civil Practice and Remedies Code; or (c) take discovery under applicable rules in other litigation; provided for the avoidance of doubt that nothing in this sentence shall be interpreted to (1) permit or authorize any claim or Settled Claim seeking to recover any monetary or other relief from the Kroll ▇▇▇▇▇ Released Parties, (2) permit or authorize the commencement, assertion or continuation of any claim or Settled Claim against the Kroll ▇▇▇▇▇ Released Parties, including any claim or Settled Claim seeking to impose any liability of any kind (including but not limited to liability for contribution, indemnification or otherwise) upon the Kroll ▇▇▇▇▇ Released Parties, or (3) impair or affect or be construed to impair or affect in any way whatsoever, any right of the Kroll ▇▇▇▇▇ Released Parties to contest discovery. b. In no event shall the Kroll ▇▇▇▇▇ Released Parties be responsible to pay any amount to any Person based on the amount or method or absence of reduction of any verdict, judgment, or award on a claim concerning Stanford.

Judgment Reduction. a. To 6.1 Oakfabco (for itself and the extent Estate) hereby agrees as follows with respect to any Claim, case, controversy, arbitration, lawsuit, or other proceeding of any kind involving Oakfabco or the Estate: (a) Oakfabco will not seek to obtain payment from any Person is barredor Other Insurer of any amount that may be attributable or allocable to the CNA Companies; and (b) Without limiting the effect of the Injunction and the releases (set forth in Section 4 of this Agreement), enjoinedin the event that any Person or Other Insurer obtains a judicial determination, settlement, or restrained by paragraph 10 binding arbitration award that it is entitled to obtain a sum certain from one of the CNA Companies as a result of a claim for contribution, subrogation, indemnification, reimbursement or other similar claim against the CNA Companies for the CNA Companies’ alleged share or equitable share, or to enforce subrogation rights, if any, of the defense or indemnity obligations of the CNA Companies for any Claims released pursuant to this Bar Order and JudgmentAgreement, Oakfabco shall voluntarily reduce its judgment or claim against, or settlement with, such Person (or Other Insurer(s) to the “Non-Settlor”) extent necessary to eliminate such contribution, subrogation, indemnification, reimbursement, or similar claims against the CNA Companies. To ensure that such a reduction is accomplished, the CNA Companies shall be entitled to assert this Section VI as a defense to any action for any such portion of the judgment, settlement, or binding arbitration award, and shall be entitled to have the court or appropriate tribunal issue such orders as are necessary to effectuate the reduction of to protect the CNA Companies from any verdict, liability for the judgment, settlement, or award against it on binding arbitration award. (c) The CNA Companies shall not seek reimbursement for any payments they are obligated to make under this Agreement, whether by way of a claim concerning Stanfordfor contribution, in subrogation, indemnification, reimbursement or otherwise from any ForumOther Insurer or Person (not including a reinsurer), to the extent that such Forum finds that Person or Other Insurer agrees also to waive any such claims against the Non-Settlor and CNA Companies for contribution, subrogation, indemnification, reimbursement, or otherwise for reimbursement, from anyone other than the Kroll Released Parties were joint tortfeasors respecting such claim. Such reduction shall be the greater of: (a) an amount that corresponds to the percentage of responsibility CNA Companies reinsurers in their capacity as reinsurers of the Kroll Released PartiesCNA Companies. Notwithstanding the foregoing, if a third party pursues a contribution, subrogation, or (b) such other amount as may be required by law. Nothing in this Bar Order and Judgment shall impair or affect or be construed to impair or affect in any way whatsoever, any right of any Person to: (a) claim a credit or offset in any litigation against such Person, however determined or quantified, if and to the extent provided for by the foregoing sentence, against any judgment amount, based upon the Settlement or payment of the Settlement Amount; (b) designate a “responsible third party” or “settling person” under Chapter 33 of the Texas Civil Practice and Remedies Code; or (c) take discovery under applicable rules in other litigation; provided for the avoidance of doubt that nothing in this sentence shall be interpreted to (1) permit or authorize any claim or Settled Claim seeking to recover any monetary or other relief from the Kroll Released Parties, (2) permit or authorize the commencement, assertion or continuation of any claim or Settled indemnification Claim against the Kroll Released Parties, including CNA Companies relating to any claim or Settled Claim seeking to impose any liability of any kind (including but not limited to liability for contribution, indemnification or otherwise) upon the Kroll Released Parties, or (3) impair or affect or be construed to impair or affect in any way whatsoever, any right of the Kroll Released Parties Policies, then the CNA Companies shall be free to contest discovery. b. In no event shall the Kroll Released Parties be responsible to pay any amount to any Person based on the amount or method or absence of reduction of any verdict, judgment, or award on assert such a claim concerning Stanfordagainst such third party. Oakfabco shall use its reasonable best efforts to obtain agreements similar to those contained in this Section 6.1(c) from all Other Insurers with which Oakfabco executes a settlement after the Execution Date.