Sharing of Liability Sample Clauses

Sharing of Liability. If any Underwriter defaults in its obligations: (a) pursuant to Section 5.1, 5.2 or 5.4 hereof, (b) to pay amounts charged to its account pursuant to Section 7.1, 7.2, or 8.1 hereof, or (c) pursuant to Section 9.2, 9.3, 9.4, 9.5, 9.6, or 11.1 hereof, you will assume your proportionate share (determined on the basis of the respective Underwriting Percentages of the non-defaulting Underwriters) of such obligations, but no such assumption will relieve any defaulting Underwriter from liability to the non-defaulting Underwriters, the Issuer, the Guarantor, or the Seller for its default.
The Best Tool for Contract Research

Draft contracts faster by searching through millions of contracts from the best law firms across all industries.

30+ Reviews on G2 Crowd
nixon-peabody.svg
casio.svg
baker-mckenzie.svg
p-morgan.svg
stanford-university.svg
klgates-logo.svg
harvard-university.svg
dentons.svg
Sharing of Liability. If any Underwriter shall default in its obligations (i) pursuant to Section 5(a), 5(b) or 5(d), (ii) to pay amounts charged to its account pursuant to Section 7(a); 7(b) or 8(a) or (iii) pursuant to Section 9(b), 9(c), 9(d), 9(e), 9(f) or 11(a), you will assume your proportionate share (determined on the basis of the respective Underwriting Percentages of the non-defaulting Underwriters) of such obligations, but no such assumption shall relieve any defaulting Underwriter from liability to the non-defaulting Underwriters, the Issuer, the Guarantor or the Seller for its default.
Sharing of Liability. A party's liability is reduced proportionally to the extent that any act or omission of the other party or its Personnel caused or contributed to the other party's loss.
Sharing of Liability. Notwithstanding anything to the contrary herein, if, after the Closing, Rockpoint incurs costs, expenses, fees, damages and/or liability pursuant to this Agreement, including without limitation, Transfer Taxes (“Liability”), Maximus and Rockpoint shall share responsibility for all such Liability pro rata, according to their (or, in the case of Maximus, its Affiliate’s) respective distribution percentage under Sections 6.03(c), 6.03(d) and 6.03(e) of the Existing Company Operating Agreement, to the extent of the distributions deemed to have been made to the Existing Members pursuant to the definition ofPurchase Price” herein, and thereafter according to their respective Percentage Interest in the Company immediately prior to Closing. Maximus shall reimburse Rockpoint for Maximus’s share of Liability, as determined pursuant to the immediately preceding sentence, no later than three (3) Business Days after Rockpoint’s demand therefor. The provisions of this Section 10.26 shall survive the Closing without limitation.