SETTLEMENT; CONTRIBUTION Sample Clauses

The "Settlement; Contribution" clause defines the procedures and responsibilities related to resolving claims and allocating financial responsibility among parties. It typically outlines how settlements may be negotiated or approved, and specifies how costs or liabilities are shared if multiple parties are involved in a claim or lawsuit. For example, if one party settles a claim, the clause may require them to seek consent from other involved parties or allow for reimbursement of shared expenses. The core function of this clause is to ensure fair distribution of settlement costs and to prevent disputes over financial contributions in the event of joint liability.
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SETTLEMENT; CONTRIBUTION. The indemnifying party shall not be liable under this Agreement for any settlement made by an indemnified party without the indemnifying party's prior written consent, and the indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any loss or liability by reason of the settlement of any claim or action with the consent of the indemnifying party. The indemnifying party shall not settle any such claim or action without prior written consent of the indemnified party. If the foregoing indemnifications should, for reasons of public policy, not be available to any indemnified party, then the indemnifying party will contribute to the amount paid or payable by the indemnified party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative benefits received by the indemnifying party on the one hand and such indemnified party on the other arising out of the matters contemplated by this Agreement.
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SETTLEMENT; CONTRIBUTION. In consideration of the mutual promises, agreements, and understandings contained herein, Defendants agree to pay to the ▇▇▇▇▇▇▇▇ Plaintiffs the total sum of Six Million Two-Hundred Thousand Dollars ($6,200,000) (hereinafter “Settlement Contribution”). Of this amount, the City shall contribute Two Million Sixty-Six Thousand Six Hundred Sixty-Seven Dollars ($2,066,667), which shall be paid by the City’s liability insurers. Universal shall contribute One Million Two Hundred Fifty Thousand Dollars ($1,250,000) and Treeline shall contribute Two Million Eight Hundred Eighty-Three Thousand Three Hundred Thirty Tree Dollars ($2,883,333).
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Related to SETTLEMENT; CONTRIBUTION

  • Retirement Contribution 1. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay its cost of the 6.5% or 7.5% retirement contribution for employees in the bargaining unit who are covered under special Law Enforcement retirement plans. 2. The State shall, as permitted by 5 M.R.S.A. §17702 §§s5 and 6, pay the cost of the 6.5% or 7.5% retirement contribution for employees in the following classifications.

  • Retirement Contributions On behalf of employees, the State will continue to “pick up” the six percent (6%) employee contribution, payable pursuant to law. The parties acknowledge that various challenges have been filed that contest the lawfulness, including the constitutionality, of various aspects of PERS reform legislation enacted by the 2003 Legislative Assembly, including Chapters 67 (HB 2003) and 68 (HB 2004) of Oregon Laws 2003 (“PERS Litigation”). Nothing in this Agreement shall constitute a waiver of any party’s rights, claims or defenses with respect to the PERS Litigation.

  • No Contribution Each Designated Shareholder waives, and acknowledges and agrees that he shall not have and shall not exercise or assert (or attempt to exercise or assert), any right of contribution, right of indemnity or other right or remedy against the Surviving Corporation in connection with any indemnification obligation or any other liability to which he may become subject under or in connection with this Agreement or the Designated Shareholders' Closing Certificate.

  • Contribution Payment To the extent the indemnification provided for under any provision of this Agreement is determined (in the manner hereinabove provided) not to be permitted under applicable law, the Company, in lieu of indemnifying Indemnitee, shall, to the extent permitted by law, contribute to the amount of any and all Indemnifiable Liabilities incurred or paid by Indemnitee for which such indemnification is not permitted. The amount the Company contributes shall be in such proportion as is appropriate to reflect the relative fault of Indemnitee, on the one hand, and of the Company and any and all other parties (including officers and directors of the Company other than Indemnitee) who may be at fault (collectively, including the Company, the "Third Parties"), on the other hand.

  • Payment of Contributions The College and eligible academic staff members of the plan shall each contribute one-half of the contributions to the Academic and Administrative Pension Plan.