Common use of CONTRIBUTION IN THE EVENT OF JOINT LIABILITY Clause in Contracts

CONTRIBUTION IN THE EVENT OF JOINT LIABILITY. (a) To the fullest extent not prohibited by (and not merely to the extent affirmatively permitted by) law, if the indemnification rights provided for in this Agreement are unavailable to the Indemnitee in whole or in part for any reason whatsoever, in respect of any Proceeding in which the Company is jointly liable with the Indemnitee (or would be if joined in such Proceeding), the Company, in lieu of indemnifying the Indemnitee, shall pay, in the first instance, the entire amount incurred by the Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, without requiring the Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have at any time against the Indemnitee.

Appears in 18 contracts

Samples: Indemnification Agreement (BTC Digital Ltd.), Indemnification Agreement (Reitar Logtech Holdings LTD), Indemnification Agreement (Adlai Nortye Ltd.)

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CONTRIBUTION IN THE EVENT OF JOINT LIABILITY. (a) To the fullest extent not prohibited permitted by (and not merely to the extent affirmatively permitted by) law, if the indemnification or rights to be held harmless or exonerated provided for in this Agreement are unavailable to the Indemnitee in whole or in part for any reason whatsoever, then in respect of any Proceeding in which the Company Corporation is jointly liable with the Indemnitee (or would be if joined in such Proceeding), ) the Company, in lieu of indemnifying the Indemnitee, Corporation shall pay, in the first instance, the entire amount incurred by the Indemnitee, whether for judgments, liabilities, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without requiring the Indemnitee to contribute to such payment, and the Company Corporation hereby waives and relinquishes any right of contribution it may have at any time against the Indemnitee.

Appears in 4 contracts

Samples: Indemnification Agreement (Resolute Forest Products Inc.), Indemnification Agreement (Resolute Forest Products Inc.), Indemnification Agreement (AbitibiBowater Inc.)

CONTRIBUTION IN THE EVENT OF JOINT LIABILITY. (a) 7.1. To the fullest extent not prohibited by (and not merely to the extent affirmatively permitted by) law, if the indemnification rights provided for in this Agreement are unavailable to the Indemnitee in whole or in part for any reason whatsoever, in respect of any Proceeding in which the Company is jointly liable with the Indemnitee (or would be if joined in such Proceeding), the Company, in lieu of indemnifying the Indemnitee, shall pay, in the first instance, the entire amount incurred by the Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, without requiring the Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have at any time against the Indemnitee.

Appears in 2 contracts

Samples: Indemnification Agreement (Ply Gem Holdings Inc), Indemnification Agreement (China XD Plastics Co LTD)

CONTRIBUTION IN THE EVENT OF JOINT LIABILITY. (a) To the fullest extent not prohibited by (and not merely to the extent affirmatively permitted by) law, if the indemnification rights provided for in this Agreement are unavailable to the Indemnitee in whole or in part for any reason whatsoever, in respect of any Proceeding in which the Company is jointly liable with the Indemnitee (or would be if joined in such Proceeding), the Company, in lieu of indemnifying the Indemnitee, shall pay, in the first instance, the entire amount incurred by the Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, without requiring the Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have at any time against the Indemnitee.

Appears in 1 contract

Samples: Indemnification Agreement (Galaxy Payroll Group LTD)

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CONTRIBUTION IN THE EVENT OF JOINT LIABILITY. (a) To the fullest extent not prohibited by (and not merely to the extent affirmatively permitted by) permissible under applicable law, if the indemnification rights provided for in this Agreement are unavailable to the Indemnitee in whole or in part for any reason whatsoever, then in respect of any Proceeding in which the Company Corporation is jointly liable with the Indemnitee (or would be if joined in such Proceeding), ) the Company, in lieu of indemnifying the Indemnitee, Corporation shall pay, in the first instance, the entire amount incurred by the Indemnitee, whether for judgments, liabilities, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without requiring the Indemnitee to contribute to such payment, and the Company Corporation hereby waives and relinquishes any right of contribution it may have at any time against the Indemnitee.

Appears in 1 contract

Samples: Indemnification Agreement (Bowater Inc)

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