Common use of Defaulting Liabilities Clause in Contracts

Defaulting Liabilities. 10.1 In the event that either party defaults under any provision of this Contract, it shall indemnify the non-defaulting party from and against any and all claims, expenses, costs, losses and liabilities, directly or indirectly, caused by or arising from such default. Where defaulting party is a party in Transferor and/or the Company, Transferor shall undertake the joint and several responsibility for such indemnification.

Defaulting Liabilities. 10.1 In the event that either party defaults under any provision of this Contract, it shall indemnify the non-defaulting party from and against any and all claims, expenses, costs, losses and liabilities, directly or indirectly, caused by or arising from such default. Where Party A fails to pay the Equity Transfer Price on time, Party A shall pay Party B the liquidated damages at a daily rate of 0.02% of the outstanding sum; where defaulting party is a party in Transferor Party B and/or the CompanyProsoft, Transferor Party B shall undertake the joint and several responsibility for such indemnification.

Defaulting Liabilities. 10.1 In the event that either party Party defaults under any provision of this Contract, it shall indemnify the non-defaulting party from and against any and all claims, expenses, costs, losses and liabilities, directly or indirectly, caused by or arising from such default. Where defaulting party is a party in the Transferor and/or the Company, the Transferor shall undertake the joint and several responsibility for such indemnification.

Defaulting Liabilities. 10.1 In the event that either party defaults under any provision of this Contract, it shall indemnify the non-defaulting party from and against any and all claims, expenses, costs, losses and liabilities, directly or indirectly, caused by or arising from such default. Where defaulting party is a party in Transferor Party B and/or the Company, Transferor Party B shall undertake the joint and several responsibility for such indemnification.